ORLANDO, Fla., June 08, 2020 (GLOBE NEWSWIRE) -- LYSN Inc. dba. Live Youth Sports Network / LiveYouthSports.com (Demo), the first of its kind, and which has been years in development, announces its plan to launch its fundraising system to high schools nationwide this fall. LYSN is engaged in the business of automatically live streaming high school sports by installing AI and HD webcams in all of the school's team sports venues. This plan covers all grades and team sports played at the high school venues, at no cost to the school. LYSN's fundraising/pay per view platform is intended for people with health problems, traveling parents, grandparents, military personnel, alumni, scouts, or anyone who cannot physically make it to the game.
The monetization model leverages both local advertising/sponsorships and pay per view viewerships at individual streamed and archived events. We will participate in a revenue sharing model with the schools to assist in their fundraising efforts. As FONU rolls out and expands LYSN's live streaming/fundraising system, we plan to be throughout the US market by 2021.
Shane Jones/CEO commented "We have aligned ourselves with hundreds of high schools. The goal is to wire all team sports venues at no cost to the school. Our plan is to roll out the initial schools this fall, with many areas around the country already approved.” LYSN Inc. projects approx $10 million in revenues its first full year in operation, and could easily exceed $100 million in the next several years. FONU2 Inc. will lead in the live streaming and fundraising concepts by introducing various revenue streams to schools to bring much needed funds that are lacking due to budget restraints.
The youth sports market represents one of the fastest growing niche sectors in the world. Analysts are predicting a boom over the next several years that could be as much as $50 billion in global spending on youth sports and related goods and services, taking annual total spending to $76.5 billion by 2026.
The 2019 acquisition agreement between LYSN Inc. and Sports Venues of Florida, Inc. (BTHR) was officially terminated on March 2, 2020.
FONU2 Inc. (FONU) will continue as a holding company for various companies that specialize in youth sports, live streaming, fundraising, app development, along with other new and emerging technologies. Our goal is to build shareholder confidence and value as we proceed with our mission to become a national company by 2021. The company will immediately file to become current.
Forward-Looking Statements. This press release may contain “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. We intend all forward-looking statements to be covered by the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements generally can be identified by the fact that they do not relate strictly to historical or current facts and by the use of forward-looking words such as “expect,” “expectation,” “believe,” “anticipate,” “may,” “could,” “intend,” “belief,” “plan,” “estimate,” “target,” “predict,” “likely,” “seek,” “project,” “model,” “ongoing,” “will,” “should,” “forecast,” “outlook” or similar terminology. These statements are based on and reflect our current expectations, estimates, assumptions and/ or projections as well as our perception of historical trends and current conditions, as well as other factors that we believe are appropriate and reasonable under the circumstances. Forward-looking statements are neither predictions nor guarantees of future events, circumstances or performance and are inherently subject to known and unknown risks, uncertainties and assumptions that could cause our actual results to differ materially from those indicated by those statements. There can be no assurance that our expectations, estimates, assumptions and/or projections, including with respect to the future earnings and performance or capital structure of FONU2 INC.