SOURCE: Truli Media Group

Truli Media Group

February 06, 2013 08:30 ET

Truli Media Group, Inc. Announces Conversion of Total Long-Term Debt to Equity

LOS ANGELES, CA--(Marketwire - Feb 6, 2013) - Truli Media Group, Inc. (OTCQB: TRLI), owner and operator of faith-based and family media content platform and social community hub Truli.Net, today announced that Michael Jay Solomon, the founder and largest shareholder of Truli Media Group, will convert all of Truli's existing long term debt owned by him to equity.

Mr. Solomon commented, "Now that we have received an impressive welcome from the public with our user base currently reaching 700,000 people since our July 2012 launch, I feel it is fitting to further underscore my confidence in Truli by converting 100% of my loan to equity. As a largely debt-free company, I believe this initiative will offer Truli many additional benefits, especially in our plans for expanding our online content and increasing our user base."

About Truli offers a unique distribution platform focused on Christian and family-friendly content that is free for users to view, interact and engage with, on any mobile apparatus such as tablets, phones, smart TV, etc. Truli is free to ministries, as thousands of sermons are delivered weekly, as well as individuals, music videos, authors, film/television producers and educators seeking to gain visibility and provide their content in a targeted and relevant community linked by a shared belief. Truli offers a single platform that is flexible and easy for users, connecting them to the delivery of relevant content to the Evangelical community market of 100+ million people in the U.S. (and 700+ million outside the U.S.) representing $43 billion of annual gross industry sales in the U.S. alone.

Safe Harbor Statement

This news release contains statements that involve expectations, plans or intentions (such as those relating to future business or financial results, new features or services, or management strategies) and other factors discussed from time to time in the Company's Securities and Exchange Commission filings. These statements are forward-looking and are subject to risks and uncertainties, so actual results may vary materially. You can identify these forward-looking statements by words such as "may," "should," "expect," "anticipate," "believe," "estimate," "intend," "plan," and other similar expressions. Our actual results could differ materially from those anticipated in these forward-looking statements as a result of certain factors not within the control of the company. The Company cautions readers not to place undue reliance on any such forward-looking statements, which speak only as of the date made. The Company disclaims any obligation subsequently to revise any forward-looking statements to reflect events or circumstances after the date of such statements or to reflect the occurrence of anticipated or unanticipated events.

Contact Information

  • Contact:

    Investor Relations

    David Kugelman
    (404) 856-9157

    Chuck Arnold
    (386) 409-0200