FORT MYERS, Fla., March 20, 2017 (GLOBE NEWSWIRE) -- WhereverTV Broadcasting Corp. (OTC:TVTV), which delivers Over the Top (OTT) subscription television services to a variety of devices including smartphones, TabletPCs, streaming media players, computers and connected TVs, announced today that it has strengthened its financial position and appointed Milo Seidl to the Board of Directors.
“In several moves aimed to position WhereverTV for what we believe will be a breakout year, we are strengthening the balance sheet, ramping up customer acquisition through strength of SEO and Social Media, expanding content & distribution, and initiating protection of our patented intellectual property,” said Edward D. Ciofani, CEO. “Over the course of the last two years, I, members of our Board and corporate team have been evaluating the OTT market and we feel that the business model we have been developing over the course of two years has put WhereverTV in a position to truly be a leader in this industry. Our decisions are not only demonstrating our confidence in our achievements to date, but represent the level of support and commitment from the board as to where we envision the company to be in the very near future,” he added.
In moves to strengthen the Company balance sheet and financial position, WhereverTV recently announced that Edward D. Ciofani, CEO & Chairman, has converted his 2015 accumulated debt financing to equity. In separate and unrelated moves, new Board Director Milo Seidl has invested $100,000.00 and opened a convertible line of credit for $400,000 with the company to be used for general corporate purposes. And separately, Gary McGuirk Sr., Director, has also established a convertible line of credit for the Company of $500,000 to be used for general corporate purposes.
Mr. Seidl is a successful businessman in Lee County, Florida. Having a demonstrated focus on developing innovation, marketing strategies, winning relationships, partners, team members, and clients, Mr. Seidl has developed multiple businesses and heads several organizations including President of Metro PSI, CEO of JDL Surface Innovations and President of Watertronics Field Council. Mr. Seidl is also a member of the Tony Robbins Platinum team participating in personal development seminars, and enriching the lives of others through contribution. For his full BIO, please visit Wherever.TV.
For more information please click: Internet TV, Over the Top or WhereverTV.
About WhereverTV Broadcasting Corporation (Symbol: TVTV)
Founded in 2007, WhereverTV is the next generation subscription television service providing consumers with live-streaming, genre-specific, and in-language viewing choices from around the world, delivered to anywhere in the world, and through any internet enabled device. Programming is identical to existing broadcast and distribution providers with the only differences being that the broadcast signals are accessed through the internet via an over the top (OTT) platform, and channel management is handled by company’s patented Interactive Program Guide (IPG) technology. WhereverTV provides an economically beneficial and completely versatile alternative to traditional cable and satellite services, with the added benefits of personalization and portability. Also known as Internet TV, WhereverTV delivers these same channels, shows and events to SmartTVs and digital media receivers including: GoogleTV, AppleTV, Roku, Boxee, iPhone, iPad, iPod Touch, Droid Smartphone, and TabletPCs. The WhereverTV platform enables subscribers to access licensed and free-to-air content across these devices with the IPG across unlimited geographies, and wherever there is internet connectivity. The customer viewing experiences are based on customer location (geo-targeting) and content-rights management (subscriptions). Current in-language subscription offerings include Arabic TV, French TV, Italian TV, and Moroccan TV. Current genre specific subscriptions include NEWS channels, faith based channels and more. Apps are presently available for free in App Stores for iOS (Apple), Android and GoogleTV devices. DVR functionality to record your shows and view later is presently in the works. Licensed US TV content subscriptions will be available in 2017. Please visit: www.wherever.tv, for more info.
This news release contains forward-looking statements, which may not be based on historical facts. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results events or developments to be materially different from any future results, events or developments expressed or implied by such forward-looking statements. These factors should be considered carefully and readers are cautioned not to place undue reliance on such forward-looking statements. Except as required by applicable securities laws, the Company disclaims any obligation to update any such factors or to publicly announce the results of any revisions to any of the forward-looking statements contained herein to reflect future results, events or developments.