TRI-VISION PROVIDES UPDATE ON V-CHIP LICENSING
Article #:
29778
Date:
5/3/1999
2:02:48 PM
Dateline:
TORONTO, ONTARIO
Stock Symbol:
TVL
Wire:
ENEWS
At the request of the Toronto Stock Exchange, Tri-Vision
International Ltd./Ltee provides the following update on its
v-chip licensing and other business activities.
With the assistance of Nichimen Corporation of Japan, the Company
continues the complex and detailed licensing negotiations with
major television manufacturers, located primarily in Japan, Korea
and Europe, for the inclusion of Tri-Vision's patented, flexible
V-gis(TM) v-chip technology in new televisions.
On February 2, 1999, Tri-Vision and Nichimen announced the
signing of a Letter of Intent with Sharp Corporation of Japan for
the inclusion of the V-gis(TM) v-chip technology in new Sharp
TVs.
"Work continues by the parties to conclude a final, definitive
agreement with Sharp. However, speculation in the media and on
Internet-based chat groups regarding two imminent agreements
cannot be confirmed, said Tri-Vision International President and
CEO, Najmul Siddiqui.
In October of 1998, Tri-Vision initiated a test marketing
exercise in the U.S. of its V-gis(TM) v-chip set-top unit for use
with existing televisions. Sales of the units were much less than
anticipated due to a lack of awareness of the set-top unit
configuration by parents in the U.S.
Tri-Vision continues to look at various ways, such as the
Internet, to make its V-gis(TM) set-top box available to
consumers. It is expected that stronger sales of the v-chip
set-top unit will be achieved at the time new televisions with
v-chip branding begin to appear in electronics retail stores in
the U.S.
In addition to activities relating to its v-chip technology, the
Company is also focusing its efforts to expand the markets for
its traditional CATV product lines such as infrared remote
controls, regular converter lines and addressable Pay-TV systems.
Tri-Vision Electronics Inc., a wholly-owned subsidiary of
Tri-Vision International Ltd./Ltee, holds the exclusive global
rights to the patented, flexible v-chip technology developed by
award-winning Canadian inventor, Tim Collings.
Tim Collings was prompted to develop his v-chip technology a
decade ago following the brutal massacre of 14 female engineering
students in Montreal. The globally acclaimed V-gis(TM) v-chip
technology, provides parents with an easy to use means of
controlling the quality and content of television programming
entering the home by blocking or selecting television programs
based on content. This means that television shows can be
selected based on prescribed ratings as well as varying levels of
violence, sex, language and dialogue.
Tri-Vision International Ltd./Ltee is a public company founded in
1986 and trades on Canada's Toronto Stock Exchange under the
symbol TVL.
For investor or media information, contact Century Communications
Corporation at (888) 298-8551 (toll free). Visit the Company's
website at tri-vision.ca or e-mail to
tri-vision@tri-vision.ca.
The Toronto Stock Exchange has not reviewed and does not approve
or disapprove of the adequacy or accuracy of this release.
P.S. Trading to resume at 3:00pm. Bids are in $2.00 range. |
