PHOENIX, Nov. 22, 2004 (PRIMEZONE) -- QuietTiger Inc. (OTCBB:QTIG) announced today that it has secured a $5 million equity line of credit from Double U Master Fund L.P., an international investment fund. The funding can be drawn at any time during the 24-month period following the effectiveness of a registration statement and subject to certain conditions. The equity line allows for the sale by QuietTiger of up to $5 million worth of common stock at 93% of the then current market price, but in no event at less than $0.25 per share.
"This equity line will ensure that QuietTiger has the resources to meet its ongoing financial commitments to SunnComm (Pink Sheets:SCMI) relating to the terms of the exclusive marketing agreement for the MediaMax CD copy management suite of products. Having access to this capital will allow us to fulfill our current obligations as we continue to increase the revenue streams for both companies and rollout the technology worldwide," remarked QuietTiger's CEO, William H. Whitmore, Jr. "We continue to actualize our plan to augment the functionality of the MediaMax product with additional security technologies brought together through mergers and acquisitions in order to improve the products and maintain our position as the market leader in digital content security and enhancement for optical media. Access to capital resources for these transactions will expedite the negotiations and improve our position as we prepare for the future."
"These incremental financial resources come at a time when the newest edition of MediaMax - version 5 - is being rolled out worldwide," commented SunnComm's CEO and president, Peter Jacobs. "The lightning-quick positive industry reaction to our latest copy management and enhancement technology is exciting and gratifying. The QuietTiger funding assures SunnComm that its MediaMax technology will find its way to record companies and replicators throughout the world."
SunnComm's MediaMax suite of products delivers security for digital CD audio along with an enhanced consumer experience that provides additional bonus content and value-added features available in a user-friendly multi-media session. MediaMax is mastered directly on the audio CD and accessible using a personal computer. Bonus features include on-board press kits, artist-related promotions, videos, song lyrics, artist bio page, photo gallery, web links and tune-sharing capability through SunnComm's MusicMail(tm) functionality. MusicMail or TuneShare is an interface for the legal authorized sharing of selected song tracks with friends & family for a pre-determined number of days or plays. CD buyers can share music legitimately without illegal file sharing networks and without tying up their email system with huge files. This is a powerful word-of-mouth marketing tool for the record labels. Statistical reports associated with forwarded MusicMail files are available to SunnComm's record label customers, for marketing purposes, on a 24/7/365 basis.
One out of every three music CDs purchased last year were pirated products, according to the IFPI (http://www.ifpi.org/site-content/library/piracy2004.pdf ). A huge number considering that there were well over 2.4 billion audio CDs sold worldwide in 2003 representing $32 billion in revenue. Meanwhile, recordable CDs outsold prerecorded music CDs by more than 2 to 1. Huge song-swapping services, which trade in pirated music such as KaZaa, have reported as many as 218 million users. SunnComm and its record label customers believe that the use of MediaMax helps stem the casual and illegal copying of recorded CD music.
ABOUT QuietTiger
QuietTiger, Inc. (www.quiettiger.com) with its international reach, implements the delivery of digital content security products for the music and entertainment industry. With established long-term industry contacts throughout the world, QuietTiger understands the challenges surrounding digital content management and protection. Our team of professionals has spent more than 50 years in the music and movie industry.
For additional information about the company, its vision, philosophy, partners, and customers, please visit the Company's Web site at www.quiettiger.com or contact:
Company Contact: Investor contact: William H. Whitmore, Jr. Investor Communications Consulting 602-267-3800 602-231-0681 bill@quiettiger.com QTIG@investorcc.com
ABOUT SUNNCOMM
SunnComm International Inc. (Pink Sheets:SCMI) copy management and protection technology was first commercially released by Nashville's Music City records in 2001. The album, "Charley Pride - A Tribute to Jim Reeves," became the first commercial dual-session, copy-managed CD in America. SunnComm also became the first company to commercially release a content-protected audio CD utilizing an early version of the Windows Media Data Session Toolkit. (http://www.microsoft.com/presspass/press/2003/jan03/01-20SessionToolkitPR.asp) (Due to the length of this URL, it may be necessary to copy and paste it into your Internet browser's URL address field. You may also need to remove an extra space in the URL if one exists.)
In just four years, SunnComm has become the leader in digital content enhancement and security technology for audio compact disc media with its MediaMax suite of products. MediaMax has been successfully implemented on some of today's best selling music including Velvet Revolver, which reached the number 1 spot on Billboard's Top 200 Album Chart in addition to other gold and platinum best-selling releases. MediaMax has been used by 25 record labels on more than 60 commercial releases generating over 6,000,000 copy managed CDs.
SunnComm's MediaMax suite of digital content enhancement technologies are created by integrating the Company's own proprietary technology with the Microsoft (NASDAQ:MSFT) Windows Media 9 Series media player, but still operates on both Apple (NASDAQ:AAPL) and Microsoft Windows-based systems. For more detailed information about the company, its vision or philosophy, personnel, partners, and customers, please visit the company's Web site at http://www.sunncomm.com, or call the Company directly at (602) 267-7500. For additional information or investor relations please contact:
Company contact: Investor contact: Peter H. Jacobs Investor Communications Consulting 602-267-7500 602-231-0681 peter@sunncomm.com SCMI@investorcc.com
MediaMax Digital Content Cloaking Technology, DC2, PromoPlay, TuneShare, MusicMail, Secure-Burn and SunnComm are registered and/or trademarks of SunnComm International, Inc., in the United States and/or other countries. The names of actual companies and products mentioned herein may be the trademarks of their respective owners.
NOTES ABOUT FORWARD-LOOKING STATEMENTS
Statements contained in this release, which are not historical facts, may be considered "forward-looking statements" under the Private Securities Litigation Reform Act of 1995. Forward-looking statements are based on current expectations and the current economic environment.
We caution the reader that such forward-looking statements are not guarantees of future performance. Unknown risk, uncertainties as well as other uncontrollable or unknown factors could cause actual results to materially differ from the results, performance or expectations expressed or implied by such forward-looking statements.