From Stockwatch tonight:
PAYFORVIEW'S GOAL IS TO BECOME THE FUTURE OF ONLINE ENTERTAINMENT
PAYFORVIEW.COM ("PAYV" on OTC-BB)
January 29, 1999
Suite 300, Guinness Tower
1055 W. Hastings Street, Vancouver, B.C., V6E 2E9
Phone: (604) 688-6306 * Fax: (604)688-9519
Toll-Free: 1-800-545-7214
Web site: payforview.com
E-Mail: mailto:invest@payforview.com
Movies, Live Entertainment, Music
Marc Pitcher, President
PAYV is an Internet based entertainment company which intends to distribute
movies, live events and other filmed entertainment directly to viewers on a
pay-for-view and retail basis.
PAYV is a leading edge company. They have access to both the content
library and delivery/distribution systems through the Internet.
PAYV will use existing and proprietary technology gained through funding,
marketing, and strategic relationships with Internet and electronic
companies to achieve its goal of allowing subscribers to view the movie of
their choice in real time, at the time they want, on their computer or
television.
PAYV intends to position itself as a "name brand" provider of filmed and
live entertainment over the Internet. In doing so, the company will be able
to take advantage of opportunities to promote itself, and in turn, other
entertainment based companies on the Internet.
THE COMPANY
Through an agreement to purchase the shares of Voyager International
Entertainment on January 4, 1999, PAYV will acquire the Internet broadcast
and DVD (Digital Video Disk) rights to an extensive 1400 film and video
library. The library consists of many popular and marketable
films,including Charlie Chaplin and Buster Keaton shorts, classic
animation, John Wayne films, Bruce Lee and a variety of movies from the
60's, 70's and 80's featuring Jack Nicholson, Joe Pesci and many others.
PAYV has a Letter of Intent agreement for an 800 film library. The types of
movies by genre are Westerns, Horror, Action, Drama, Martial Arts, Science
Fiction and Comedy films. The library features classics by 1941 Orson Wells
Citizen Kane, W.C. Fields, Abbott & Costello, The Ten Commandments, Night
of the Living Dead, The Trial of Billy Jack and many others.
PAYV is currently negotiating with other content providers and distributors
to acquire the Internet broadcast and DVD rights to other films in order to
add content to their film library catalogue. PAYV initially screens and
inspects all titles to ensure good condition.
PAYV attended the annual National Association of Programming Television
Executives (NAPTE) conference in New Orleans in January 1999 where the
focus was on selling traditional broadcast rights for their current titles
in addition to looking to acquire more content for their library. PAYV will
be attending the Berlin Film Festival in February'99 and The American Film
Market in March'99.
E-COMMERCE
PAYV, through vertical integration, intends to create an E-commerce
division designed to maximize the library's income potential by identifying
top titles and merchandising opportunities through the sale of video
cassettes, DVDs, special edition boxed sets, etc. The company will also be
able to assign, in whole or in part, international distribution rights to
portions of the libraries for various territories. Emphasis will be placed
on creating a comprehensive, yet user-friendly site, accessed by Internet
users from around the world.
STREET SOLID RECORDS
Through the agreement to purchase Voyager International Entertainment PAYV
will also acquire "Street Solid Records", a cutting edge record company
utilizing known artists, strong production and innovative marketing. The
President of "Street Solid", Jay Warsinske, has over 25 years of experience
and credits in the music industry having worked with U2, REM, N.W.A., The
Police and Sting, Dr. DRE., The Go-Go's, Tupac Shakur, ICE-T and many
others. "Street Solid" will premiere with new releases by platinum selling
recording artists such as "Above the Law", "RBX" and double platinum
recording artist "Father MC". "Street Solid" will be attending the Cannes
Midem Music Market in January 1999 where the company expects to sign
international distribution agreements and to introduce the label to
industry executives, buyers and insiders. Domestically, "Street Solid" has
a distribution agreement with NAVARRE for release in the U.S. and Canada.
Management expects "Street Solid" to give Payforview a foothold in the
Internet E-commerce distribution of audio entertainment. The company is
looking towards the future and has plans to utilize technology, which
allows consumers to download completed CDs direct to disk using their own
CD burner. Consumers would be able to print the CD cover using their own
at-home-printer. PAYV is well positioned for the future of music
distribution.
NEWS RELEASES
payforview.com
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TECHNOLOGY
Payforview.com has signed a Letter of Intent with Los Angeles, California
based ITV.NET to enter into a Joint Venture Agreement for the development
of proprietary technology for the distribution of Filmed Entertainment
online. The Letter of Intent states that ITV.NET will provide technical
expertise and other technical resources as necessary to provide
Payforview's content, asset management, E-commerce and webcasting.
ITV.NET's video-server network will be utilized as the delivery mechanism.
ITV.NET has developed unique proprietary technology, which has the ability
to provide Payforview with a substantial lead in its time to market and
realization of its corporate goals. The Letter of Intent also states upon
execution of a satisfactory agreement, ITV.NET will provide Payforview with
the exclusive use of its technologies for Internet based on-demand usage,
solely in the entertainment arena.
This agreement with ITV.NET would give Payforview the ability to begin
broadcasting films to subscribers almost immediately through the Internet.
In the future, subscribers will be able to view content on their digital
TVs through wireless technology. ITV.NET has the technical ability to
deliver PAYV's content effectively and reliabily. It has also developed
proprietary technology to manage broadcast streams in real time, and allows
PAYV to access important information about the streaming files they
distribute. ITV.NET has created an excellent management system.
The agreement with ITV.NET allows PAYV to begin distributing content only
when it is digitized and the subscriber interface is completed. PAYV
anticipates being able to broadcast sample clips on a uni-cast, per-view
basis in approximately 60-90 days from the beginning of the year 1999.
Potential subscribers will be able to choose samples in the same way they
would with the quality of image. In addition, PAYV hopes to broadcast a
live event in approximately 90 days using ITV.NET's technology.
Founded in 1995, ITV.NET was one of the first Webcast providers dedicated
to making the Internet a viable broadcast medium for entertainment,
business and education. ITV.NET was the second company to broadcast live
over the Internet, following Bloomberg by only six hours! ITV.NET has
undertaken groundbreaking work to help organizations such as Digital
Equipment, Microsoft, Apple Computer and others broadcast successfully on
the Internet. ITV.NET has webcast events to some of the largest ever
Internet audiences,including launch of the U2 World Tour, Grammy and Tony
Awards, Cannes Film Festival, David Bowie Concerts, Broadway Plays and
Sporting Events.
THE MARKETPLACE
The Internet explosion has created a world of online opportunity. The
interactive nature of the Internet is well suited to the entertainment
industry, particularly for viewing and distribution of filmed
entertainment. Combined revenues for entertainment companies around the
world were over US $197 billion in 1996 (Variety Magazines Global Top 50 -
August 31st, 1997). New venues, and technological advances in DVD and
Internet broadcasting, have created new sources of income for companies who
have the product to distribute.
Research indicates that cable companies will be the leading providers of
residential broadband width services capturing more than 80% of the market
in 2002. By 2006 the industry expects a total of 48.8 million subscribers
with high bandwidth access. Some 20% of all U.S. households have computers
with Internet access and 53 million DVD players or DVD equipped computers
will be accessible by 2002 (Forresters Entertainment and Technology
Strategies). Today, 86% of all U.S. households has a VCR. North Americans
with VCRs rent an average of two movies per month between US $1.99 and
$3.99 per film. Applying these percentages to future DVD uses,
Payforview.com estimates second year market potential at 250,000
subscribers, growing to 1,000,000 by year three. These figures are based on
the potential of today's market in an industry that's recording compounded
annual growth is in excess of 2.5% per month.
In addition, the DVD retail, Internet broadcast and foreign distribution
rights to the content libraries are considered by Payforview.com to be an
excellent asset and may produce income almost immediately. Over the next
several years as technology expands into lesser developed countries, the
potential to broadcast films via the Internet to these countries should
increase dramatically.
PAYV believes, as technology improves and Internet usage grows, the company
will be well positioned to become the number one Internet provider of
filmed entertainment combining "off the rack" and customized systems that
will ensure the finest possible viewing experience for subscribers.
MANAGEMENT
PAYV's management has a proven track record in corporate administration,
Internet technology and the entertainment industry. Strategic direction is
established through the Board of Directors and an Advisory Board.
Board of Directors
PAYV, as a new company, is in the process of seeking candidates for the
Board of Directors who will help fulfill the specific strategic goals of
the company in the areas of corporate and financial management, marketing,
technology and experience in the entertainment industry. To date, the Board
is comprised of the following individuals:
Marc A. Pitcher, Payforview's President and CEO, has background in Business
Administration and Project Management. He started his career in 1985 in
Transportation Management, securing contracts with Canadian Transportation
Companies Brewster Transportation and Greyhound, and working with Canadian
Pacific Hotels, and the Calgary Winter Olympics.
More recently, Marc's experience extended to Commercial Real Estate, where
he was a partner and Director of Vancouver based Office Services Company,
working closely with companies like Bay Networks, Budget-Rent-A-Car,
Westinghouse, AutoCAD, Pearle Vision, Packard Bell, Motorola and others to
secure turnkey office space and services. Turning his attention to
Vancouver's burgeoning film industry, Marc worked on Studio Rental projects
with JJ Barnike Real Estate and Royal Lepage Commercial.
Marc, was most recently involved with a Vancouver based Project Management
firm whose clients included Multi Active Technologies, Maximizer, Brooks
Automation and Nice Systems.
Warren Wayne started his career in the film industry in 1985, founding
Western Canada's first Optical Effects Company, Cyberflex Films. In 1987 he
took a position as Assistant Director with the Fox Television series "21
Jump Street", starring Johnny Depp, which led to other work on the films
"Fly 2", starring Eric Stolz, "Shoot to Kill," starring Sidney Portier and
"Look Who's Talking Too," starring John Travolta and Kirsti Alley.
Having worked on over 200 episodes of television and nine feature films,
Warren turned to Producing and Directing, completing work for Coca-Cola,
American Express, Kodak and Ramada Inns. His international travel for these
projects led to an interest in Documentary film work, and he completed a
travel film entitled "The Best of Belize", and "Race For The World", which
saw him travel to Argentina, the Falkland Islands, South Georgia Island,
Antarctica and South Africa.
Previously, Warren was the President of Voyager International Films, an
entertainment company set up to create, acquire and sell feature films,
television programming, music and multi-media products to world markets.
Currently, Warren is Vice President of Licensing and Acquisitions for
Payforview.com.
ADVISORY BOARD
The Advisory Board has been formed by the company to provide advice and
assist the Board of Directors in planning for the future direction of the
company. The Advisory Board will consist of up to six members-at-large with
varying skill sets complimentary to Payperview's corporate goals, and at
least two members of the company Board of Directors. The Advisory Board is
comprised of the following individuals:
William Stuart, President and CEO of Aurora Productions in Los Angeles,
California. Mr. Stuart recently Executive Produced the $70,000,000
Hollywood film "The Rock", starring Sean Connery and Nicholas Cage. He also
finished producing "Holy Matrimony" for Walt Disney. Prior to this he
produced "Pay Off" for Viacom Pictures, and Executive Produced "The Fourth
War", starring Roy Scheider and directed by John Frankenheimer, "Heaven is
a Playground" for New Line, "Cash America, a game show for the Fox Network
and "Working Trash", a movie of the week for Fox's Night At The Movies.
>From 1982 to 1984, Mr. Stuart served as Vice President for Columbia
Pictures International, overseeing production and distribution throughout
Europe and the Middle East. From 1978 to 1982, he was Vice President with
MGM/UA, serving as Executive Director of United Artists Classics, Executive
Assistant to the President as well as supervising film distribution
operations in Europe, the Middle East and Africa. From 1973 to 1978, Mr.
Stuart was with 20th Century Fox. During this period, he served in Sydney
as Managing Director for Film Distribution and merchandising for Australia,
New Zealand and the Pacific Territories, in Madrid as Managing Director of
film distribution for Spain and Portugal and in Paris as Assistant Sales
Manager for Europe, the Near and Middle East.
Al Nazarali, President of Al Nazarali and Associates, has over 15 years of
extensive marketing experience in various industries including software,
multimedia, telecommunications and semiconductors. Al started his marketing
career in consumer goods marketing and marketing research. This solid
grounding in classical brand marketing has been transformed successfully
into results driven marketing in the high technology sector. In addition,
Al has also acquired a range of experience in sales management and product
distribution, providing critical skills for development of channel
strategies and sales execution planning. Al holds an MBA from the
University of Oregon and a Bachelor of Science from the University of
British Columbia. He lectures on High Technology Marketing Strategy at the
British Columbia Institute of Technology and is a guest lecturer at the
Venture Program, a highly successful program designed to assist start-up
companies launch their businesses. Prior to starting his own firm, Al
worked for GTE Corporation and has represented semiconductor companies
including Altera, Cyrix, Nec and Xicor.
Brendan Regan has been involved in custom software design, programming and
implementation for several industries. He has worked in such areas as light
manufacturing, food brokering, law firms, property management, real estate,
insurance, and inventory and data capture in the forestry industry.
He is currently the President of Brentech Systems Limited which was founded
in 1987. Brentech Systems Ltd. specializes in advanced training and
collaboration for Microsoft Exchange/Outlook applications. Brendan has been
involved in all aspects of the development process, including Analysis and
specification, Detail Design, Programming, Project Management and
Implementation.
Brendan has completed projects in such areas as manufacturing, law firms,
property management, real estate, insurance and the forest industry. His
clients include International Forest Products and Nice Call Centers.
Penny O. Green is the President and CEO of Bacchus Entertainment Ltd. and
is responsible for developing and arranging financing for feature films and
television series and for acquiring and selling the rights to completed
television programs and films.
Ms. Green was called to the B.C. bar as a lawyer in 1996 after articling at
Russell & DuMoulin, a leading Vancouver law firm. She gained expertise in
film financing working at Lang Michener, Lawrence & Shaw, a Canadian
national law firm, as a securities and entertainment lawyer. Penny is
currently a member in good standing with the Law Society of British
Columbia.
Penny has acted as Director of International Sales for Westar Entertainment
Inc. a public company in the business of film production and distribution.
She has also worked as a distribution consultant to several film companies.
Share Structure as of January 29th, 1999.
Shares issued: 8,654,026
Approx Float: 3,000,000
Current Bid: $2.12
Current Ask: $2.44
Last Trade: $2.25
The public float makes up approximately 35% of the shares issued.
Approximately 95% percent of the restricted shares are owned by insiders.
The company has plans to become a fully reporting company within 90 days.
CONCLUSION
WE BELIEVE THAT PAYV REPRESENTS A GROUND-FLOOR OPPORTUNITY FOR AGGRESSIVE
INVESTORS WITH TREMENDOUS UPSIDE POTENTIAL.
Payforview.com is a leading edge company focused on providing the best
entertainment value for the dollar through the use of modern Internet
technology. All the elements are present to position itself as the only
entertainment company in existence today with both the rights to content
and use of a delivery system through the Internet to distribute quality
entertainment to subscribers. Growth possibilities are endless as the
technology evolves and expands worldwide. PAYV is rated as a major long
term buy.
Technically, it appears that PAYV has formed a solid base in the $2.00 to
$2.75 range and is on the verge of breaking out of its recent trading
range. We see solid investor support and accumulation at current levels.
Currently the company is trading at $2.25 per share. With increased market
and investor awareness, it would appear reasonable to expect PAYV shares
will be valued much higher.
DISCLAIMER
RESEARCH INVESTMENT GROUP is not a Registered Investment Advisor or a
Payforview.com Broker/Dealer. This communication (print or electronic)
reflects opinions and is not to be construed as an offer to sell or the
solicitation of an offer to buy.
The opinions and analysis included herein are based on sources believed to
be reliable and in good faith but no representation or warranty, expressed
or implied, is made as to their accuracy, completeness or correctness. This
information is not intended to be used as the sole basis of any investment
decisions, nor should it be construed as advice designed to meet the
investment needs of any particular investor. The foregoing discussion
contains forward-looking statements, which are based on current
expectations and differences can be expected. The information contained
herein has been obtained from publicly available sources and disseminated
by RESEARCH INVESTMENT GROUP for information purposes only. In addition,
the information contained in this report is not intended to be a complete
discussion of information regarding some of the current and/or intended
business activities of the Company.
Readers are urged to consult with independent financial advisors with
respect to an investment in the shares mentioned herein. Investors should
review a complete information package on Payforview.com (the "Company"),
which should include, but not limited to, the Company's annual report,
quarterly report, press releases, as well as all regulatory filings. PAYV
expects to become a reporting company in 2Q, 1999. All information
contained in this report should be independently verified with the Company
mentioned herein. Any opinions expressed in this report are statements of
judgement as of the date of publication and are subject to change without
further notice, and may not necessarily be reprinted in future publications
or elsewhere. Neither RESEARCH INVESTMENT GROUP nor its officers,
directors, partners or employees / consultants accept any liability
whatsoever for any direct or consequential loss arising from any use of
this report or its contents.
RESEARCH INVESTMENT GROUP has received a retainer fee of 50,000
free-trading common shares of PAYV from the company and has paid for
consulting services including, but not limited to this research report and
its dissemination, project analysis, assistance in locating funding sources
as well as evaluating and reporting on projects the Company may have
acquired or seek to acquire in the future. Prior to RESEARCH INVESTMENT
GROUP disseminating this information, PAYV has reviewed the contents
hereof.
RESEARCH INVESTMENT GROUP, its officers, directors, partners, employees and
consultants may profit in the event the shares of the Company increase in
value. These positions may be liquidated from time to time even after
RESEARCH INVESTMENT GROUP, its officers, directors, partners, employees and
consultants have made positive comments on the Company.
THE READER SHOULD VERIFY ALL CLAIMS AND DO THEIR OWN DUE DILIGENCE BEFORE
INVESTING IN ANY SECURITIES MENTIONED. INVESTING IN SECURITIES IS
SPECULATIVE AND CARRIES A HIGH DEGREE OF RISK.
We encourage the reader to review the investing information available with
the Securities and Exchange Commission ("SEC") at sec.gov and/or
the National Association of Securities Dealers ("NASD") at
nasdr.com. As PAYV is not yet a reporting company, public
filings are not available from the SEC's EDGAR page. The NASD has published
information on how to invest carefully at its web site.
FOR MORE INFORMATION, PLEASE CONTACT:
Malinda E. Poe
PAYV, Corporate Communications
1-800-545-7214 or
email: mailto:invest@payforview.com
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