NEW YORK, NY--(Marketwired - March 17, 2014) -
(OTCQB: VGTL) announced today that it has completed the ultra high definition ("UHD") digital scanning of the giant screen format film Bears and is preparing to offer its growing inventory of 4K films at upcoming international film markets.
Back in December, VGTel entered into agreements to finance the digital scanning of a series of 15/70mm films to an 8K digital format. In collaboration with its production and distributor partners, the films have all been scanned, downscaled to 4K resolution and are presently being offered for 4K or ultra high definition television ("UHD TV") broadcast and theatrical distribution.
Along with Bears, the company has completed the digital scanning of the documentary films Adrenaline Rush: The Science of Risk, Alaska: Sprit of the Wild and Amazing Journeys. The 4K cinema version of Adrenaline Rush: The Science of Risk was recently licensed to the Oregon Museum of Science and Industry.
The pieces are all in place for 4K to become the new standard in entertainment and it is VGTel's intention to become a major supplier of 4K films. With all of the leading TV manufacturers presenting 4K models at CES 2014, media providers have committed to delivery of the new UHD format. For example, Comcast recently announced its commitment to 4K broadcasting with its Xfinity 4K app for Samsung UHD TVs and 4K-capable set-top boxes and the over-the-top providers like Netfilx, Amazon and YouTube will all offer streaming UHD content beginning this year.
The VGTel 4K titles will all be represented at upcoming film markets including the Giant Screen Cinema Association ("GSCA") Film Expo on March 24-25 in Austin, Texas and MIP TV in Cannes, France on April 7-10.
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, and a film clip of Adrenaline Rush 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.
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.