SOURCE: Provision Interactive

Provision Interactive

April 01, 2014 08:00 ET

Lifestyle Ventures to Make Major Investment in Provision Interactive

Strategic Partner to Accelerate 3D Reward Center Rollout in Major Retail Chain

CHATSWORTH, CA--(Marketwired - Apr 1, 2014) - Provision Interactive Technologies, Inc. ("Provision"), a subsidiary of Provision Holding, Inc. (PINKSHEETS: PVHO), is pleased to announce today that it has signed a Master Services Agreement with a strategic partner, Lifestyle Ventures, LLC ("Lifestyle"). Under the terms of the agreement, Lifestyle will purchase and market Provision's 3D Reward Center and/or 3D Systems to approved regional store chains. Lifestyle will also participate with Provision in certain national retailer accounts administered exclusively by Provision. 

The agreement calls for an initial investment of $2 million in Provision from Lifestyle, with an option to increase its investment up to $20 million. Provision has received the first purchase order and payment towards 200 3D Reward Centers being deployed in retail stores located in Los Angeles and New York beginning in 2014.

"We are entering into this new agreement based on the continuing overwhelming positive response to Provision's technology," said Carl Smith, CEO and Chairman of Lifestyle Ventures. "We are excited about being a part of this market and are committed to its success."

"This first deployment is forecasted to increase Provision's annual revenues to over $5 million, but equally important, will further demonstrate the demand for and viability of 3D holographic advertising in the huge marketplace of digital media," said Provision CEO Curt Thornton. 

With its current contract to deploy the 3D Reward Centers in thousands of stores, Provision will work toward lowering production costs and increasing margins on an ongoing basis. Each 3D Reward Center's costs are nominal compared to the recurring monthly income generated.

Deploying 200 machines is a major milestone and Provision looks forward to planning deployment of several thousand machines over the next 24 months. With the funding for the completion of a nationwide rollout, annual revenue may increase to over $100 million, attracting installation of Provision 3D products in large retailers, mass merchandisers, cinema chains and others in the U.S., Asia, and Europe. 

Provision will be handling, with chosen premier business partners, the manufacturing, installation, service, ad sales, network administration, and content production. Each retail store will include Provision's 3D Holographic Display, the award winning "3D Product of the Year" awarded by Frost & Sullivan. The displays will be capable of projecting floating 3D holographic videos in front of the screen without the need for any special glasses and without any discomforting eye stress

About Provision Interactive Technologies, Inc.

Provision Interactive Technologies, Inc., a subsidiary of the publicly traded company Provision Holding, Inc. (PINKSHEETS: PVHO), is the leading purveyor of intelligent interactive 3D holographic display technologies, software, and integrated solutions for both commercial and consumer focused applications.

Provision's 3D holographic display systems represent a revolutionary technology that provides the projection of full color, high resolution videos into space detached from the screen, without any special glasses. Provision is currently the market leader in true 3D consumer advertising display products being implemented by innovative, consumer-focused Fortune 1000 companies.

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Forward-Looking Statements

This press release contains forward-looking statements. Such forward-looking statements are subject to a number of risks, assumptions and uncertainties that could cause the Company's actual results to differ materially from those projected in such forward-looking statements. These risks, assumptions and uncertainties include: the ability to raise capital, install systems within currently estimated time frames and budgets; build an advertising network and compete effectively in a rapidly evolving and price competitive marketplace; and other risks referenced from time to time in the Company's filings with the Securities and Exchange Commission.

Contact Information

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