MIAMI BEACH, FL--(Marketwired - May 6, 2014) - Mindpix Corporation (OTC Pink: MPIX) (PINKSHEETS: MPIX) ("Mindpix" or the "Company"), a technology driven media services and entertainment company focused on owning, creating or managing multi-platform music/entertainment, sports and U.S. Hispanic media properties, is pleased to provide this update from Victor Siegel, President/CEO and Director of MPIX.
As I pass my one-year anniversary at Mindpix, I wanted to take this opportunity to share my thoughts with the Shareholders and investment community on the last year and our exciting path moving forward.
First, I want to take a moment to thank all our shareholders for their continued support and patience. I'm aware it hasn't been easy and for many of you it has been far more than 12 months since you became shareholders. As you know, my business experience has primarily been as a turn-around CEO in the digital, technology and music industry sectors. Turnarounds are never easy or quick, and especially in the case of Mindpix, this restructuring has been a compete re-invention from top to bottom.
Though almost complete, it took the better part of 8 months to sort through the past history and create a solid foundation to build from. While a year may seem long, when viewed that way, our time as a "new" Company, 100% focused on the future is not very long. That said, we've accomplished a lot in a very short amount of time.
When I joined Mindpix we all saw an opportunity to re-model it from the ground up. That meant creating a completely revamped business model rooted in executable business goals, poised for growth and speed to market. A new strategy that focuses on proven management, state of the art technology, supported by a relentless focus on top-line growth utilizing our newly created infrastructure that is now solidly in place.
That model focuses on leveraging 3 key trends,
- The massive shift away from traditional TV viewing and into multi-platform (smartphones, tablets, gaming consoles, smart TV's and pc's) video consumption for younger consumer, generally under 35 years of age.
- The fast growing adoption of social media monetization of content on mobile devices and pc platforms (through advertising, sponsorship and various payment and viewing options -- PPV, Video on Demand, etc.)
- The expanding need for branded media companies and sports properties to leverage their intellectual properties and increase revenue through new video streaming distribution and monetization models with trusted third party partners, such as Mindpix Media Services(SM).
We are building Mindpix to address these 3 opportunities, aligning our staffing, focus, capital resources and technology to attack the new digital video and social monetization marketplace in these key segment trends.
To efficiently execute that vision, we configured our efforts across 2 divisions, each utilizing an internal "shared services" model for maximum cost efficiency. Leveraging the same technology, streaming infrastructure and staffing to execute on their respective business missions allows us to keep Corporate G&A spending and overhead to a minimum.
1. Mindpix Media Services(SM) - a technology services and platforms business offered as a turn-key solution to clients and partners; Mindpix Media Services(SM) is focused on near term revenue generation through acquiring "one-off" streaming events (such as Spring Awakening and Golden Trailer Awards) and longer term recurring revenue engagements (such as the Jimmy Lloyd Showcase) for music/entertainment, Sports and U/S Hispanic media properties
2. MP Presents(SM) - a content creation, co-production and distribution business, established to facilitate significant ownership stakes in digital and traditional media properties (such as KM Productions and New Gospel Entertainment) Properties under this banner will provide Mindpix with a combination of revenue streams and equity participation and asset appreciation. As noted earlier Mindpix Presents(SM) leverages the existing infrastructure of Mindpix Media Services(SM) to execute its programs providing maximum efficiency and maximum gross margins going forward.
It's taken a huge amount of collective hard work to get where we are today -- a transparent, compliant and structured company. While this process has been painful at times to get to this point, it was necessary to correct the past. Today we have finally fully extracted Mindpix from its past and created a solid plan for topline revenue and increasing shareholder value for the future.
Rest assured that every single decision your Management Team has taken over the last 12 months, and will in the future, no matter how large or small, has been reviewed and analyzed to execute on this plan and to do our best to ensure that the shareholder will achieve long-term value.
Whether it was:
- Divesting ourselves of the music catalogue,
- Restating 2 1/2 years of our financials,
- Establishing a Nashville office to take full advantage of the fastest growing sector in the music business, Country,
- Initiating an audit of the Company's financial statements to assure transparency
- Creating and staffing a world class Board of Advisors that provide real value on the first day
- Re-fashioning our Board of Directors
- Partnering with 4 leading edge technology partners
- Laying the foundation for an eventual up listing to the OTCQB as an SEC reporting issuer
- The formation of Mindpix Media Services(SM), and successfully winning 3 exclusive assignments to date -- Spring Awakenings 2014, The Jimmy Lloyd Showcase and The Golden Trailer Awards.
- Both Jimmy Lloyd and the Golden Trailer Awards are long-term agreements, annual or multi-years retainers for the Company. Each has significant revenue potential through significant revenue sharing agreements.
- The creation of Mindpix Presents(SM) and successfully winning 2 assignments to date -- full joint venture with KM Productions (covering China and the US) and the New Gospel Entertainment joint venture -- whose first launch is the 2014 Bridge to Believe Tour
- Both JV's will provide the Company with significant equity in each respective venture, which we will recognize on our balance sheet as well as both short term and moderate long-term revenue potential. For instance, Mindpix will generate multiple revenue streams through "The Bridge to Believe Tour 2014." National Sponsor and local event ticket sales at multiple Mega Churches plus throughout the country, branded merchandise, and numerous high margin digital extensions beyond the 21 cites tour stops such as live Pay Per View (PPV) and post tour Video On Demand re-broadcasts
Turnarounds are hard work and are a bit like icebergs floating on the ocean. You only see the top 20% floating above the water, while the remaining 80% is invisible just below the surface and often hard for all to see clearly. Over the past year, I have had the pleasure on working on that 20% above the water, in a focused manner for about 4 to 5 months. My first 7- 8 months were spent on turn-around and cleanup, the underwater 80% if you will. I am very happy to report now it is 80% above water.
I am exceedingly proud of our accomplishments our Management team has achieved since the beginning of 2014. As of today we've closed 5 projects (3 Mindpix Media Services(SM) and 2 Mindpix Presents(SM)) and have over 50 projects in the pipeline. We've established an amazing and growing Advisory Board of world-class individuals who are already helping the Company bring in business. And for the first time during my brief tenure as CEO, I can clearly see where the results of all our hard work and patience are paying off and it is very exciting to think about our collective future -- fully unencumbered by the past.
On a more personal note, it's starting to be fun and exciting to wake up and go to the office again, either here at HQ in Miami Beach or in Nashville, NYC or LA. Our growing pipeline of potential projects stretching across all domestic offices and outposts is expanding and I'm psyched to be working closely with our Management Team and Advisors to drive the Company forward quickly
While "fun" is not a typical CEO update to Shareholders, I believe, for myself and for many of the Shareholders much of the last year has been very frustrating. So fun is a welcome change for all of us. Unfortunately, much of the last year was characterized by unforeseen challenges from the past and by unavoidable delays stemming from a history that we all inherited. I am happy to report the delays are over.
As we plan and head into the second half of the year, we've done much, but much is left to finish. We will be initiating a re-branding of Mindpix, including a fully re-designed web presence, corporate identity, new logo and aggressive Investor Relations and industry Public Relations efforts to increase awareness of our service offerings and gain market share. We will be nominating and putting forth a new slate of Directors and looking at international expansion opportunities through partnerships for early 2015 and beyond. Additionally, I look forward to reporting in the very near future the completion of our audit and our move to the OTCQB. We also will be announcing a date for an annual shareholder meeting in Miami, Florida. Mindpix is fast becoming a company we can all be very proud of, as we become the go-to resource for digital media services and global streaming ventures.
We have an extremely well refined operational plan and there is a huge marketplace of companies looking for more efficient digital, streaming and monetization programs that we now offer. Early on, I made a promise to be transparent and to report on our progress good or bad. As we progress beyond our Annual meeting, in my continued effort of transparency, I will commit to a regular monthly update as we move forward and grow this Company. I am very much looking forward to the balance of 2014 as MPIX continues to execute on plan. Thank you again.
Victor Siegel, CEO and Director
About Mindpix Corporation
Mindpix Corporation (OTC Pink: MPIX) (PINKSHEETS: MPIX) is a technology driven multi-platform media company focused on owning, creating and/or managing multi-media entertainment and sports and US Hispanic media properties across the globe. Through a unique eco-system, MPIX provides the critical on-line video technology, production, digital marketing, audience development, payment services, sponsor acquisition, digital and traditional media distribution services to drive revenue for live and VOD (video on demand) events globally.
MPIX disclosure and financial information is published on OTC Markets and can be found at the following site: http://www.otcmarkets.com/stock/MPIX/filings/
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), and as such, may involve risks and uncertainties. These forward looking statements relate to, amongst other things, current expectation of the business environment in which the company operates, potential future performance, projections of future performance and the perceived opportunities in the market. The company's actual performance, results and achievements may differ materially from the expressed or implied in such forward-looking statements as a result of a wide range of factors.