Another Press Release,
Has anyone been waiting as long as I have for ADI's production schedule ? Looks like it could be soon.
PeterInteractive video technology acquired
ADI Technologies Inc ADH
Shares issued 23,468,896 Sep 12 close $1.60
Mon 15 Sept 97 News Release
Ms Jean Monroe reports
ADI Technologies and its wholly owned subsidiary, Audio DigitalImaging,
intend to acquire Multimedia Interactive Video technology from Perkins
Engineering, Cary, Illinois. In an executed letter of intent, the company
will acquire all exclusive rights, in perpetuity, for the patented and
proven, analog and digital versions of the interactive technology from
Perkins Engineering.
Multimedia Interactive Video is a significant technology breakthrough that
enables true interactive participation of television viewers with
pre-recorded or live action entertainment programming received from
broadcast, cable or satellite television or Internet service. The
technology's capabilities, establishes for the first time, a methodology
for fast paced viewer interaction with broadcast video content, similar to
the interactive play familiar to today's video game players. Additionally,
pre-recorded Multimedia Interactive Video CD-ROM and DVD programs may also
be enjoyed by users of personal computers and game console players.
Multimedia Interactive Video uses a single channel for broadcast and does
not require a back channel for interactive capabilities.
This is an amazing art form technology that the company believes will set
the precedent for the next level of television broadcast entertainment.
Millions of viewers will be able to have the story details of their
favourite mystery, or soap opera, or dramatic series take a self-edited
twist based on their individual interactions. Sports fans will be equally
thrilled because now any live action event can be broadcast with
simultaneous multiple cameras, and interactively viewed from any active
camera. Replays or stat information, or even game trivia is available for
the viewer's choice.
As compelling as this technology will be to the entertainment television,
CD-ROM, DVD, and Internet markets, Multimedia Interactive Video is an
exceptional programming tool for creating self-paced remote education
curriculum. Instead of offering dry and often uninteresting text, courses
can now offer intriguing and stimulating class materials that intersperse
drills with immediate comprehension tests. Using the same promotion or
demotion philosophy that video games use to increase or decrease degrees of
player difficulty, Multimedia Interactive video-based educational courses
offer the same challenge.
Broadcasters such as multiple system operators, TCI, Rogers Cablevision,
Cox, etc, could significantly increase their current revenues from
deployment of additional interactive theme channels, experience greater
opportunities to gain long term subscriber loyalties and realize higher
advertising revenues from interactive commercials.
Program providers, such as CNN, ESPN, HBO, Showtime, The Disney Channel,
etc, could also introduce compelling programming that does not rely solely
on high priced star power, or a new series that is just a variation of an
old theme. Moreover, amortization of program costs can be spread over a
greater number of showings, because viewers will accept a higher number of
interactive reruns, since each showing will appear different from the last.
ADI has already begun an aggressive marketing campaign to licence the
technology.
Multimedia Interactive Video capabilities have been integrated into ADI's
MPEG Apogee D chips which will be available for shipment in the fourth
quarter of 1997. ADI is pleased with the collaboration and cooperation it
continues to receive from PE for this important technology integration and
further development. The two companies began working together in late
summer of 1996.
Terms of the analog and digital technology acquisition are a one time
payment of US$220,000, with an ensuing royalty of 7% of net after tax
profits. PE will also become entitled to a five year warrant that
represents a maximum 5% of ADI stock at C$3, over a period of five years,
provided that certain benchmark performances are met by Mr John Perkins of
Perkins Engineering.
ADI has available a working prototype that demonstrates primary Multimedia
IV technology features and is scheduling presentations to interested
multiple system operators, and network or program content providers at
ADI's office in Arlington Heights, Illinois, or at the interested party's
facility.
(c) Copyright 1997 Canjex Publishing Ltd. canada-stockwatch.com |
