NS8 Corporation
OTC Bulletin Board : NSEO

NS8 Corporation

August 27, 2007 10:00 ET

NS8 Achieves Reorganization Milestones

LOS ANGELES, CALIFORNIA--(Marketwire - Aug. 27, 2007) - NS8 Corporation (NS8) (OTCBB:NSEO) has successfully completed certain of its reorganization milestones as outlined in its previous filing dated May 23, 2007. Milestones regarding the achievement of certain revenues for its First and Second Quarter and completing the increase of its authorized capital were accomplished.

Further to its reorganization, NS8 announced on July 13, 2007 its plan to reduce its long term debts held by certain management, directors and shareholders by offering, for a limited period of time, a conversion of those debts to equity of the Company. The Company has received positive responses from such plan and a majority of conversions have been received. The Company anticipates that it will achieve all or a majority of its intended $3,627,249 debt reduction before the end of its second quarter, which marks a reduction of fifty percent of its long term debts.

In addition, as announced on July 30, 2007, the Company's custom music management software was launched by its customer in Thailand in the later part of June 2007, giving NS8 reoccurring revenue streams from revenue sharing of music downloads as the service continues to be promoted this year. Further, NS8 continues to engage in new international and domestic prospects for its iWave interactive PC video on demand product in order to accomplish its remaining revenue milestones and achieve positive cash flow before the end of its 2007 year.

Uriel Kusiatin, President of NS8, comments: "We continue to focus our development, operations and capital on our commercialization. Our efforts to accomplish our internal reorganization and align it with our current commercial direction are progressing according to plan. The Company will continue to build on this momentum to achieve the remainder of our objectives for this year."

Since the Company's announcement pertaining to its reorganization in May 7, 2007, a CEO recruitment effort has been in progress and the Company expects that a strong chief executive candidate will soon be appointed by the Board. The Company is in the process of short listing its current candidates and key areas of strength for candidates are primarily in the areas of strong sales and proven commercial expertise within the Company's market space.

On August 31, 2007, Anthony Alda will serve his last day as the Company's CEO. He will continue to provide technical consultation and continue to serve as a non executive Chairman until November 30, 2007. Anthony was one of the founding members of the Company and was one of the key technical architects responsible for several patent filings in the areas of internet video on demand, content security distribution and non-resident software applications that are underlying in the Company's core iWave interactive product line. His 6 year tenure has enabled the Company to maintain technical advantages in the internet video-on-demand and PC television space.

George O'Leary, director and Chief Financial Officer, comments: "The Board of Directors would like to thank Anthony for his many years of dedicated service to the Company. Anthony has played a leadership role in establishing NS8's position as a technological leader in its space and raising the necessary capital to fund its development efforts. Anthony will continue to provide valuable support for our technical and market development efforts. We look forward to his continued involvement in the success of the Company and wish him well in his future endeavors."

ABOUT NS8 CORPORATION

NS8 Corporation (www.ns8corp.net) is a Digital Interactive Media Distribution Company that specializes in the development of server-based technologies in the areas of content licensing, digital media publishing and royalty distribution management, including interactive consumer viewing systems for Internet on-demand applications for PC, and other portable media devices. iWave Interactive Systems is a division of NS8 Corporation that specializes in providing turn-key Broadcast Management Solutions for digital content over Internet enabled networks.

SAFE HARBOR STATEMENT

Certain statements made herein that are not historical are forward-looking within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are based on the Company's beliefs and the assumptions it made using information currently available to it. Because these statements reflect the Company's current views concerning future events, these statements involve risks, uncertainties and assumptions. The actual results could differ materially from the results discussed in the forward-looking statements. In any event, undue reliance should not be placed on any forward-looking statements, which apply only as of the date of this press release.

TRADEMARKS

Consumer Program and Shopping Guide, CPG, Library Distribution Management System, LDMS, NS8, Secure Digital Content Distribution, Security Protocol Integration, SPI, and iWave Interactive Systems, iWaveMedia, AdWave are either registered trademarks or trademarks of NS8 Corporation or its subsidiaries. The names of actual companies and products mentioned herein may be the trademarks of their respective owners.

Contact Information

  • NS8 Corporation
    Uriel Kusiatin
    President
    (604) 677-6994 ext. 209
    Website: www.ns8corp.net