SOURCE: VGTel, Inc.

VGTel, Inc. Logo

November 21, 2013 18:04 ET

VGTel, Inc. Begins Scanning IMAX® Format Films for New Digital Ultra-High Definition (4K) Format and Will Begin Releasing the Films During the First Quarter of 2014

NEW YORK, NY--(Marketwired - November 21, 2013) - As VGTel, Inc. (OTCQB: VGTL) continues its nationwide expansion of its internet gaming/entertainment business, the Company announced today that it has begun the analogue-to-digital conversion of a series of award-winning films originally produced for IMAX® theaters. VGTel, in partnership with Los Angeles-distributor K2 Communications, Inc., will release the movies for Ultra-High Definition (UHD or 4K) broadcast and to museum theaters worldwide beginning in Q1 2014.

The process involves a laboratory scan of the large format 70mm film negatives to a digital version that is greater than four times the resolution of today's high definition movies. The 4K digital picture is what experts consider the perfect image with today's technology.

"The decision to pursue this opportunity was motivated by the rising demand for 4K content, the availability of these technically impressive films, and the current state of UHD technology for cinema distribution and, perhaps, even more significantly, home theater applications," said Peter Shafran, CEO of VGTel.

The news comes on the heels of several significant announcements concerning the new UHD format -- what many are calling the 'future of cinema and home entertainment.'

This year IMAX® announced that, after making its largest R&D investment in history (incorporating patents from Kodak), it will launch its new 4K digital laser projector system in theaters by mid-2014. The installations are expected to be widespread particularly across Asia. In the consumer sector, to promote the sale of its 4K TVs, Sony recently launched its own UHD video download service called Video Unlimited 4K and, earlier this month, Netflix announced it has started testing 4K streaming in preparation of its planned UHD services in 2014.

VGTL's announcement coincides with its forward-looking vision for new media and entertainment. The company is focused on the opportunities for growth in the digital film industry, particularly in markets around the world, like China.

"We are currently in discussions to license these 4K documentary films across all platforms including UHD home cinema and museum theaters like the angled OMNIMAX® dome cinemas you find in museums and science centers globally," added Shafran. 

About VGTel, Inc. 
VGTel, Inc. is a multi-platform company offering products and support in the entertainment industry and is focused on a strategy of growing and building business units through investments and acquisitions. For further information, go to www.360entertainmentandproductions.com.

Safe Harbor Statement
The Private Securities Litigation Reform Act of 1995 provides a safe harbor for forward-looking information made on the company's behalf. All statements, other than statements of historical facts, which address the Company's expectations of sources of capital or which express the company's expectation for the future with respect to financial performance or operating strategies can be identified as forward-looking statements. Such statements made by the company are based on knowledge of the environment in which it operates, but because of the possibility of unknown factors, as well as other factors beyond the control of the company, actual results may differ materially from the expectations expressed in the forward-looking statement. An investment in our common stock involves a significant degree of risk. You should not invest in our common stock unless you can afford to lose your entire investment. You should consider carefully all risk factors and other information in our annual report and quarterly filings before deciding to invest in our common stock. If any of the following risks and uncertainties develops into actual events, our business, financial condition or results of operations could be materially adversely affected and you could lose your entire investment in our Company.

Forward-Looking Statements
This press release contains forward-looking statements that involve a number of risks and uncertainties, including statements regarding the outlook of the Company's business and results of operations. By nature, these risks and uncertainties could cause actual results to differ materially from those indicated. Generally speaking, any statements using terms such as "will," "expect," "anticipate," or "may," or which otherwise predict or address future results or events, are likely to contain forward-looking statements. It is important to note that actual results may differ materially from what is indicated in any forward-looking statement. Readers should consider any forward-looking statements in light of factors that could cause actual results to vary. These factors are described in the Company's filings with the SEC, and readers should refer to those filings, including Risk Factors described in those filings, in connection with any forward-looking statements. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

Contact Information