SOURCE: Trunity Holdings, Inc.

Trunity Holdings, Inc.

April 08, 2014 08:30 ET

Trunity Holdings Issues Operational Update

Interim CEO Nicole Fernandez-McGovern Comments on Key Corporate Developments and Recent Successes of Trunity's eLearning and Authoring Platform

PORTSMOUTH, NH--(Marketwired - Apr 8, 2014) - Nicole Fernandez-McGovern, Interim Chief Executive Officer and Chief Financial Officer of education technology pioneer Trunity Holdings, Inc. (OTCBB: TNTY) (OTCQB: TNTY) ("Trunity"), today issued an update relating to key corporate developments and recent successes that are serving to define Trunity's operational goals and objectives in the coming year. Fernandez-McGovern stated:

"Since expanding my executive role last month to now include Interim CEO of Trunity, the leadership team has reaffirmed a simple concept that I have long known to be true - the Trunity eLearning Platform is not just an industry game changer from a business perspective, it represents an entirely new universal paradigm that transforms how educational content is being published, accessed, shared and experienced by students and teachers alike. 

"In view of Trunity's recently announced new partnership with global eLearning company, Houghton Mifflin Harcourt, coupled with other compelling global growth opportunities we are winning or actively pursuing, Trunity's growth potential has never been more pronounced, nor our vision for the Company more clear. Our current market penetration strategies are focused on optimizing prevailing opportunities within three key channels: K-12, Higher Education and International Initiatives which include National Education Ministries and Private Schools. These efforts are expected to yield notable revenue growth for Trunity in 2014, and represent what we believe is the beginning of a positive, upward trend. Moreover, our go-to-market strategy is expected to continue attracting significant new revenue opportunities for the Company, serving to further validate our technology and vision. As progress is made in this regard, we expect to play a meaningful role in transforming the publishing industry and improving the quality of content being delivered to students worldwide.

"To better ensure that our time, effort and resources are being properly applied and leveraged to maximize our business building activities, Trunity has engaged Tim Lieto and Michael Welts of The WaveSense Group, LLC, a Stratham, NH management consulting firm highly specialized in creating, leading and executing sales, marketing and go-to-market strategies for young, high-growth companies. Tim and Michael will be serving as executive partners to Trunity, assisting our business development activities, along with helping our sales, marketing and technology teams to create replicable programs and processes. We expect that with their assistance Trunity will succeed in creating a culture focused on attaining high performance and results.

"During the first quarter of 2014, Trunity has succeeded in achieving several notable accomplishments that include the following specific developments, which have been segmented into our noted revenue channels and will drive our projected revenues:

K-12

  • Show What You Know® Publishing - Trunity has signed an agreement with Show What You Know Publishing, an Ohio-based publishing company owned by The Lorenz Corporation, which has been in the publishing business for over 120 years. Show What You Know Publishing specializes in K-12 supplemental materials aligned to the common core standards. Its materials focus on intervention, skill-building and test-preparation specifically aligned with each standard and grade level indicator, and these materials are based on research and designed by experienced educators and a clinical psychologist. Select Show What You Know content will be 'Trunitized,' co-marketed worldwide by the companies, and, in the fall of this year, made accessible to the world's elementary school teachers and students through the Trunity eLearning Platform.

  • Houghton Mifflin Harcourt (HMH) - In late January, Trunity announced an agreement to partner with global education leader HMH, one of the world's leading providers of research-based, technology-enabled education content and solutions, utilized by 50 million students in over 150 countries worldwide. Our goal is to offer select HMH digital content through the Trunity eLearning Platform to the Pre-K-12 global education markets. As recently demonstrated at the HMH Partner Summit meeting in Orlando, both companies intend for this collaboration to transform the way their content is being delivered by enriching educational experiences for both students and teachers anywhere, anytime and on any connected device.

Higher Education

  • Trunity Authoring Campaign - To fuel rapid growth of available college textbooks and coursework in the Trunity Knowledge Exchange and heighten awareness of its many compelling benefits to authors and publishers, in March of this year, Trunity launched its 'Trunity Authoring Campaign,' designed to inform educational writers and topical experts of the numerous time and economic advantages of authoring on the Trunity eLearning Platform and offering the sale of their content through the Trunity Knowledge Exchange. Led by our Chief Education Officer, Dr. Cutler Cleveland, our Authoring Campaign has had an excellent start in 2014, with several new authors joining our Platform. Due to the strong growth in adoption of our 'Trunitized' textbooks and/or courseware made available to students through the Platform, our sales for the current Spring semester have increased significantly. We are now in over 20 colleges and universities and used in four high schools, versus being in only one university last Spring. This increase in sales demonstrates a repeatable and scalable business model to be followed for the continued adoption of 'Trunitized' books.

  • National Council of Science and the Environment (NCSE) - Trunity has entered an agreement with NCSE, a not-for-profit organization that engages scientists, educators, policy-makers, environmental managers, government agencies, conservationists and business leaders in programs that foster collaboration between diverse institutions and individuals creating and using environmental knowledge to make science useful to policies and decisions on critical environmental issues. Both Trunity and NCSE will co-market the Trunity eLearning Platform to the over 2,500 authors currently accessing the Encyclopedia of the Earth. We believe this initiative will be a great driver for the 'Trunity Authoring Campaign' by providing the Company with access to the large number of authors currently affiliated with NCSE.

National Education Ministry Initiatives

  • Ukraine Open World National Project - In March of 2013, Trunity won international acclaim when we announced that the Ukraine Government's Open World National Project selected our Platform as the foundation for the country's national educational network. With a vision to provide primary school students with the best and most comprehensive educational platform in Eastern Europe, Ukraine chose to team with Trunity following a comprehensive evaluation of all leading eLearning solutions on the market. Given the recent political climate in Ukraine, the launch of the Open World Project is currently on hold; however, Trunity is poised and ready to proceed with the initiative as soon as we are given approval to do so. To date, we have onboarded content to the newly developed Ukraine Knowledge Exchange, which is expected to be initially rolled out to seventh graders, followed by a phased two-year deployment to ultimately reach all 1.5 million students in grades five through nine. 

  • Africa - Our new business development efforts in Africa continue to make progress thanks to the collaborative marketing efforts of our partner and shareholder, Pan-African Investment Company (PIC), a New York-based private investment firm founded by Dick Parsons, former Chairman of Citigroup and former Chairman and CEO of Time Warner, and Ronald Lauder, son of Estee Lauder and noted international philanthropist. Dana Reed, PIC's CEO, sits on our Board and is responsible for directing our African efforts. Recognizing that Africa is the fastest urbanizing continent in the world, the United Nations has made providing primary education to all children in developing countries as one of its eight Millennium Development Goals to be achieved by 2015. Given the robust scalability, rich multi-media and mobile capabilities and intuitive cloud-based functionality of the Trunity eLearning Platform complemented by the Trunity Knowledge Exchange, we believe that our Company is uniquely positioned to most effectively and efficiently address the accelerated delivery of quality education to African students at a time when it is needed most. 

"Trunity will soon begin releasing a series of announcements relating to technology upgrades and enhancements to the Trunity eLearning Platform, to include making the entire platform mobile-ready and accessible via both the iOS and Android operating systems. In addition, we expect to announce a number of new branding, sales and marketing initiatives that we believe will collectively serve to promote meaningful traction for our Company in the areas of new business development and strategic business partnering. Lastly, as we continue to work through and affirm all the new business development opportunities acquired within the last three months, we look forward to providing much greater perspective on our anticipated revenue growth in 2014 as we persist in our efforts to perpetuate and accelerate the positive momentum we are achieving in our market penetration activities.

"I am very proud of the Company's progress to date, and of the many positive developments that have transpired over the past several months. The accomplishments we've achieved are clear evidence of our persistent adherence to a long-term strategy focused on distinguishing our Company as a world class organization that will endure for years to come. We intend to continue working very hard to ensure that the trust you've placed in us is well deserved as we deliver on the opportunities outlined above in addition to seeking out new ones."

About Trunity Holdings, Inc.

Founded in 2009, Trunity Holdings, Inc. (OTCBB/OTCQB:TNTY) ("Trunity") has developed a collaborative knowledge management, publishing and education delivery platform which provides an end-to-end solution for the rapidly growing eTextbook, eLearning and enterprise training marketplaces. As a result of the platform's innovative multi-tenant cloud-based architecture, Trunity allows content from multiple sources to be assembled into customized living digital textbooks and courseware and delivered with real-time updates directly to the student on any Internet-enabled computer or mobile device. The content powered by Trunity is seamlessly integrated with learning management, social collaboration, standards alignment, real-time analytics and royalty-tracking functionality. Trunity currently hosts a growing global community of over 4,300 expert contributors made up of top scientists and educators, who create peer-reviewed educational content. The Company's clients include leading colleges, universities, K-12 schools, corporate enterprises and government agencies worldwide. Headquartered in Portsmouth, New Hampshire, Trunity has operations in North America and internationally. For more information, visit http://www.trunity.com/.  

Statement Under the Private Securities Litigation Reform Act

As contemplated by the provisions of the Safe Harbor section of the Private Securities Litigation Reform Act of 1995, this news release contains forward-looking statements pertaining to future, anticipated, or projected plans, performances and developments, as well as other statements relating to future operations. All such forward-looking statements are necessarily only estimates or predictions of future results or events and there can be no assurance that actual results or events will not materially differ from expectations. Further information on potential factors that could affect Trunity Holdings Inc. is included in the Company's filings with the Securities and Exchange Commission. We expressly disclaim any intent or obligation to update any forward-looking statements.

Contact Information

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