SOURCE: Power of the Dream Ventures, Inc.

Power of the Dream Ventures, Inc.

March 07, 2011 08:50 ET

Power of the Dream Ventures Issues Update to Shareholders

BUDAPEST, HUNGARY--(Marketwire - March 7, 2011) - Power of the Dream Ventures, Inc. (OTCBB: PWRV), Hungary's premier technology acquisition and development company, today issued a letter from company Founder & CEO Viktor Rozsnyay in order to update shareholders on recent accomplishments and near-term future plans.

"Dear PWRV Shareholders: Our work to achieve something meaningful has been an arduous process. Since the inception of Power of the Dream Ventures we have been working on establishing a functional, US style incubator that can invest in, acquire and co-develop intellectual properties originating in the Republic of Hungary. We had to build everything from scratch. Two years ago we became Hungary's only US traded public company -- to accomplish this we learned the going public process from A to Z on our own. During the last three years we have invested in a number of technologies, some of which turned out to be less than expected while other(s) more than we hoped (iGlue). During our incubation years we reviewed over a hundred and fifty opportunities, selecting from among these the best of best to pursue. While this review was in progress we managed to maintain our public company status (not a trivial task and financial expenditure) all the while successfully financing iGlue to completion, including arranging follow-on financing. We have been meticulously planning (although at times it may have appeared that the process was too slow) a company that can single-handedly commercialise the greatest technological innovations Hungarian inventors have to offer. Our long journey is about to reach its apex, or from our perspective we will fully start operations as we originally conceived.

"I believe 2011 will be the first year when we realize a return on our invested capital (and time,) first in the form of exiting our semantic search and content organizer iGlue, and then through other divestitures. We are working on several high-profile opportunities which I hope to announce within the next two months. These will add substantial value to PWRV. We have also laid the foundation for a dividend policy that will allow us to distribute 50% of profits to our shareholders of record following successful technology exits. The remaining 50% we will use for further acquisitions / investments which in turn will produce further exits down the read. Our goal is to have 10-15 technologies under management at any given time, with 1-2 exits per year. Also, last but not least, we have set in motion a plan to reduce our issued and outstanding shares of common stock by approximately 30%. All of these initiatives will be announced and completed by the end of 2011. I would like to thank all of our shareholders for their continued support. Without your commitment we could not have accomplished what we set out to do. And now, to get started with Hungarian technology, here is something I am especially proud of. This is the first of our major investments. Head on over to www.iglue.com, download the plug-in, and use the software to Wikify the web and experience the future of internet value creation," Mr. Rozsnyay added.

About PDV
Power of the Dream Ventures, Inc. is a leading technology holding company. We identify and harness the unique technological prowess of Hungary's high-tech industry, turning promising ideas and ready to market products/technologies into global industry leaders. We focus on developing, acquiring, licensing, or co-developing technologies that originate exclusively in Hungary that are in prototype stage based on existing patents; in prototype stage prior to patenting; existing products that require expansion capital to commercialize; emerging science and high-technology research projects that require help in patenting, developing the product and marketing, University spin-off technologies, and ideas from the very early stage that represent "disruptive technologies." For more information, please visit http://www.powerofthedream.com

Contact Information

  • Contact:
    At the Company:
    Viktor Rozsnyay
    President and CEO
    Phone: +36-1-456-6061
    Fax: +36-1-456-6062