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Prime Spot Media Inc PTD on VSE Shares issued 26,171,766 Float (appoximately 6,000,000) Prime Spot is a TV network that broadcasts entertaining programming and advertisements to consumers in the food courts of major shopping malls. Financed by the announced $500,000 private placement, the first stage is to employ leading edge technology for the operating systems in the currently functioning 22 malls representing associations with 11 different mall developers in 18 major U.S. markets. The technology upgrade has commenced with the sites in Las Vegas, Nev.; Atlanta, Ga.; Orlando, Fla.; Tampa, Fla. and Hartford, Conn., all managed by General Growth. Among other modifications, the installation of the MPEG II digital video players will enable the company to insert advertisements, make programming changes or add graphic overlays for tagging sales and promotions with specific retailers in specific markets within minutes when required. The MPEG system enables communications between the company's centralized communications hub and the remote sites by way of the Internet or VSAT satellite technology. The system is also capable of providing compliance and operating status reports to the company's centralized communications hub, a critical component for the large national advertiser. The second stage of the business plan is to complete a reprogramming of the entertainment material that forms the basis for immediate advertising sales presentations. The broadcast will still consist of a revolving 20-minute loop of programming, split between entertainment and advertising segments. Backed by a landmark Nielsen research study, the company is confident that the nationally projectable statistics of the study will convince the advertising industry that the Mall TV network drives effectiveness better than anything else out there. Having already established operations and relations with 11 major developers, the foundation for further expansion and increased viewership of the network is readily available, as these developers alone control well in excess of 200 mall locations. Each of these locations can generate an average $450,000 (U.S.) per year. The existing 22-mall location network could generate $10-million (U.S.) per year, based on selling 75 per cent of available advertising time at current rate cards. | ||||||||||||
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