NS8 Corporation
OTC Bulletin Board : NSEO

NS8 Corporation

July 16, 2007 09:02 ET

NS8 Initiates Debt Reduction Strategy

LOS ANGELES, CALIFORNIA--(Marketwire - July 16, 2007) - NS8 Corporation ("NS8") (OTCBB:NSEO). The Company has initiated a plan to reduce its long term debts over 24 months as part of its ongoing corporate restructuring. Certain unsecured loans were provided to the Company by its management and shareholders over the past 4 years totaling approximately $7,254,497 as of May 31, 2007. The Company has implemented a debt reduction plan whereby holders of loans are able to convert up to 50% of their loan balance to common shares of the Company at a fixed price of $0.03 per share until the end of July 2007. If all loan holders participate in this plan, a reduction of the Company's total long term debt of approximately $3,627,249 will be converted to common shares.

The remaining balance of outstanding loans will continue to be treated as long term debt and the Company plans to present an option to those holders to continue to convert their remaining balances into equity at prevailing market prices at the time those conversion dates are determined. Management, directors and founders that have capital loans to the Company have agreed to convert their debts into equity and are initial participants to this debt reduction plan.

Mr. George O'Leary, Chief Financial Officer, comments, "We are very pleased at the cooperation of our long term shareholders and management who have demonstrated their support by continuing to be equity partners. This is a very good step for the Company in reducing its long term debts over a 24 month period. We plan to invest all of our revenues back into the Company so the belief of our long term shareholders in our efforts will be proven to be justified. This shareholder confidence shows tremendous support in what we are accomplishing."

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, IPTV and other portable media devices. iWave Interactive Systems is a division of NS8 Corporation that specializes in providing turn-key Broadcast Management Services of digital content over Internet enabled networks. iWave combines NS8's proprietary server based technologies for use by content owners, media distributors, and telecommunication companies to provide a powerful solution for processing, publishing, reporting and distributing content to consumers over PC, IPTV, mobile device or portable wireless environment.

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
    (609) 945-1993
    Website: www.ns8corp.net