Earlier today, TiVUS, Inc. reported on ongoing sales and installations initiatives, as well as the company’s regulatory compliance activities.
“I would like to update TiVUS friends and shareholders on a number of new and ongoing projects of interest to all,” commented Shiva Prakash, TiVUS’ president and chief executive officer.
“Foremost, I would like to relay that we are awaiting the return of an executed five-year, multi-million dollar contract from Host Hotels & Resorts (“Host”) for the fully operational high-definition (“HD”) internet-protocol television (“IPTV”) platform with TiVUS’ proprietary ad-insertion system,” he continued. “The inaugural installation is currently running in Host’s premier 1408-room downtown Philadelphia hotel property adjacent to the convention center.”
As previously announced, TiVUS has developed and completed installation of a first-in-class HD IPTV ad-insertion platform allowing Host to migrate away from its legacy video-on-demand service. The move comes at the same time Marriott Corporation announced it had instituted a “no adult-content” policy phased in over the next few years in all of its properties.
Phil Marriott, TiVUS’ executive vice-president of global sales, commented, “We have had remarkable success courting a customer with a string of properties in the Western U.S., and I expect this to come to fruition in the near future. Although not yet a paper contract, I am very optimistic – this was a lead from our recent meetings in Austin, Texas.
“Although the sales team has been courting scores of other properties, I believe the convergence of Host’s acceptance of our HD IPTV with ad-insertion platform, vis-a-vis room occupancy rates trending nicely upward and hotel chain mandates to upgrade to HDTV, bodes extremely well for our sales strategy going forward,” Marriott concluded.
Prakash added, “Also, I am happy to report installation of our HD IPTV platform at the 435-room downtown Doubletree Hotel in Omaha, Nebraska, has begun; I expect progress updates as we move forward in much the same fashion as we did with the recent Host installation. The Omaha installation will be the most advanced TiVUS HD IPTV system to-date, with many advanced features not seen before in the industry – we expect this installation will be our ‘technological showcase’ for the next 12-18 months.
Steve Haag, investor relations and administration for TiVUS, reported the following: “After numerous audit activities, I am comfortable at present reporting I expect completion of the audit proper in the very near future, possibly around the beginning of November, maybe sooner. We have employed an enormous amount of time, energy, and resources to ensure we maintain a transparent, publicly auditable company. We intend to file a registration statement immediately following to become compliant with the fully reporting standards of the United States Securities and Exchange Commission (“SEC”).”
“Right now, the dearth of news lately belies recent progress. With TiVUS’ industry board chair Doug Marriott’s guidance, all of our efforts over the past two-plus years to build and deploy TiVUS’ ‘game-changing’ hotel HD IPTV entertainment platform are now beginning to make important inroads with the world’s leading hotels, resorts, and casinos,” Prakash concluded.
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