WinSonic Digital Media Group, Ltd. Completes Bridge Financing Line of Credit |
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By: WinSonic Digital Media Group, Ltd. Posted: 2008-09-13 00:20:48 |
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The following is an updated version:
WinSonic Digital Media Group, Ltd. (the "Company") (OTC Bulletin Board: WDMG) announced today the completion of an agreement providing bridge financing dedicated to the launch of specific revenue projects. Terms of the loan facility allow the investment group to appoint one director to the board of directors. These investors have commenced assisting WinSonic in recruiting and appointing key technical positions and management. Financing proceeds will be used to focus on two launches. The launch of key WinSonic platforms, applications and service offerings of digital media content distributed by WinSonic Digital Cable System Network: -- WinSonic Digital Music Store - This is an e-retail music store with revolutionary sound enhancement created by WinSonic Process Digital(tm). The store library consists of six million songs, movies, games and mobile content including many exclusives. -- Blue Pie North America Stores - WinSonic will launch a North American focused (with an exclusive rights option) online store for Blue Pie Production, a privately held Australian company engaged in international digital distribution of software, music, video games and films. This launch includes a joint marketing agreement that establishes one of the largest global media libraries and distribution delivery networks. -- Swag Media - WinSonic and Swag Media has launched a media, news, and social networking site that will include a digital distribution platform for film, music, and merchandising. -- Rainy songs - The creation of a next generation digital label platform to encompass viral marketing, promotions, branding, product development (music, film, etc.) and distribution services. -- IN grooves and One Digital Distribution - The execution of a licensing agreement with a major music company catalog provider that will provide WinSonic an additional 250,000 top songs from major media music companies. Secondly, the user trial launch of an industry leading three dimensional (3D) media content platform. -- WinSonic Dverb - WinSonic and Jecr Inc. will launch a 3D media content platform that will enable social networking, communications, digital media (radio/TV), data storage, office tools and digital content delivery with unique personalization and groundbreaking digital graphics. In addition to the preceding, WinSonic will launch network operations and partnerships with Limelight, Tulia, ETTA, Cogent, Verizon, AT&T, Jecr Inc. and WinSonic Digital Cable Systems Network Distribution Services. Also, proceeds from the line of credit will provide an additional investment in equipment and expertise to build and manage WinSonic Digital Cable System Networks. The funds will allow us to move forward with the launch of WinSonics Facilities Based Services giving content providers a greatly enhanced experience across any digital media type, content library or audience scale. The Company's content delivery provides HTTP/web distribution of digital media files such as video, music, games, software and social networks. WinSonic Digital Media Group will activate on-demand streaming for all major formats including Adobe Flash, MAP audio, QuickTime, Real Networks Real Player, Windows Media and bipod compatible. WinSonic strategic initiative now establishes WinSonic services available to local, global, and wireless networks, i.e. Verizon, Cogent, Sprint, AT&T, Tulia, ETTA and Comcast; thereby, capability is created to cross all new platform standards for delivery of digital media. "This funding plays a critical role in facilitating WinSonic's transition from a development stage company to a full operating company. We anticipate revenue from the launch of these projects in the fourth quarter of 2008. Throughout this transition, WinSonic will maintain its heritage of innovation, service, quality, reliability and integrity. We shall continue to provide the level of services our customers and the market have come to demand," said Winston Johnson, Chairman & CEO of WinSonic. About WinSonic Digital Media Group, Ltd. WinSonic Digital Media Group, Ltd. is a facilities-based media distribution solutions company with a distinctive video transport concept that enables users to view, interact, and listen to all types of audio, online video, and digital TV, in full-screen format, at high speeds and superb quality at a greatly reduced cost while reducing the need for expensive high- speed connections. Statements in this press release are certain statements which are not historical or current fact and constitute 'forward-looking statements' within the meaning of such term in Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that could cause the actual financial or operating results of the company to be materially different from the historical results or from any future results expressed or implied by such forward-looking statements. Such forward-looking statements including, but not limited to, our aggressively focus on customer growth and leveraging its relationships with major corporations into revenue growth opportunities, based on our best estimates of future results, performance or achievements, based on current conditions and the most recent results of the company. In addition to statements which explicitly describe such risks and uncertainties, readers are urged to consider statements labeled with the terms 'may,' 'will,' 'potential,' 'opportunity,' 'believes,' 'belief,' 'expects,' 'intends,' 'estimates,' 'anticipates' or 'plans' to be uncertain and forward looking. The forward-looking statements contained herein are also subject generally to other risks and uncertainties that are described from time to time in the company's reports and registration statements filed with the Securities and Exchange Commission. Consequently, all of the forward- looking statements made in this press release are qualified by these cautionary statements and there can be no assurance that the actual results anticipated by the company will be realized or, even if substantially realized, that they will have the expected consequences to or effects on the company or its business or operations. ------ WinSonic Digital Media Group, Ltd. Completes Bridge Financing Line of Credit Proceeds dedicated to launch of revenue projects ATLANTA, Sept. 12 /PRNewswire-FirstCall/ -- The following is an updated version: WinSonic Digital Media Group, Ltd. (the "Company") (OTC Bulletin Board: WDMG) announced today the completion of an agreement providing bridge financing dedicated to the launch of specific revenue projects. Terms of the loan facility allow the investment group to appoint one director to the board of directors. These investors have commenced assisting WinSonic in recruiting and appointing key technical positions and management. Financing proceeds will be used to focus on two launches. The launch of key WinSonic platforms, applications and service offerings of digital media content distributed by WinSonic Digital Cable System Network: -- WinSonic Digital Music Store - This is an e-retail music store with revolutionary sound enhancement created by WinSonic Process Digital(tm). The store library consists of six million songs, movies, games and mobile content including many exclusives. -- Blue Pie North America Stores - WinSonic will launch a North American focused (with an exclusive rights option) online store for Blue Pie Production, a privately held Australian company engaged in international digital distribution of software, music, video games and films. This launch includes a joint marketing agreement that establishes one of the largest global media libraries and distribution delivery networks. -- Swag Media - WinSonic and Swag Media has launched a media, news, and social networking site that will include a digital distribution platform for film, music, and merchandising. -- Rainy songs - The creation of a next generation digital label platform to encompass viral marketing, promotions, branding, product development (music, film, etc.) and distribution services. -- IN grooves and One Digital Distribution - The execution of a licensing agreement with a major music company catalog provider that will provide WinSonic an additional 250,000 top songs from major media music companies. Secondly, the user trial launch of an industry leading three dimensional (3D) media content platform. -- WinSonic Dverb - WinSonic and Jecr Inc. will launch a 3D media content platform that will enable social networking, communications, digital media (radio/TV), data storage, office tools and digital content delivery with unique personalization and groundbreaking digital graphics. In addition to the preceding, WinSonic will launch network operations and partnerships with Limelight, Tulia, ETTA, Cogent, Verizon, AT&T, Jecr Inc. and WinSonic Digital Cable Systems Network Distribution Services. Also, proceeds from the line of credit will provide an additional investment in equipment and expertise to build and manage WinSonic Digital Cable System Networks. The funds will allow us to move forward with the launch of WinSonics Facilities Based Services giving content providers a greatly enhanced experience across any digital media type, content library or audience scale. The Company's content delivery provides HTTP/web distribution of digital media files such as video, music, games, software and social networks. WinSonic Digital Media Group will activate on-demand streaming for all major formats including Adobe Flash, MAP audio, QuickTime, Real Networks Real Player, Windows Media and bipod compatible. WinSonic strategic initiative now establishes WinSonic services available to local, global, and wireless networks, i.e. Verizon, Cogent, Sprint, AT&T, Tulia, ETTA and Comcast; thereby, capability is created to cross all new platform standards for delivery of digital media. "This funding plays a critical role in facilitating WinSonic's transition from a development stage company to a full operating company. We anticipate revenue from the launch of these projects in the fourth quarter of 2008. Throughout this transition, WinSonic will maintain its heritage of innovation, service, quality, reliability and integrity. We shall continue to provide the level of services our customers and the market have come to demand," said Winston Johnson, Chairman & CEO of WinSonic. About WinSonic Digital Media Group, Ltd. WinSonic Digital Media Group, Ltd. is a facilities-based media distribution solutions company with a distinctive video transport concept that enables users to view, interact, and listen to all types of audio, online video, and digital TV, in full-screen format, at high speeds and superb quality at a greatly reduced cost while reducing the need for expensive high- speed connections. Statements in this press release are certain statements which are not historical or current fact and constitute 'forward-looking statements' within the meaning of such term in Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that could cause the actual financial or operating results of the company to be materially different from the historical results or from any future results expressed or implied by such forward-looking statements. Such forward-looking statements including, but not limited to, our aggressively focus on customer growth and leveraging its relationships with major corporations into revenue growth opportunities, based on our best estimates of future results, performance or achievements, based on current conditions and the most recent results of the company. In addition to statements which explicitly describe such risks and uncertainties, readers are urged to consider statements labeled with the terms 'may,' 'will,' 'potential,' 'opportunity,' 'believes,' 'belief,' 'expects,' 'intends,' 'estimates,' 'anticipates' or 'plans' to be uncertain and forward looking. The forward-looking statements contained herein are also subject generally to other risks and uncertainties that are described from time to time in the company's reports and registration statements filed with the Securities and Exchange Commission. Consequently, all of the forward- looking statements made in this press release are qualified by these cautionary statements and there can be no assurance that the actual results anticipated by the company will be realized or, even if substantially realized, that they will have the expected consequences to or effects on the company or its business or operations. |
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