New York, NY, Sept. 17, 2018 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- Recall Studios (OTC: “BTOP”) today announced that media and technology veteran, John Textor, was named Chief Executive Officer, joining Alexander Bafer who will remain actively involved with the company as Executive Chairman. Mr. Textor will immediately endeavor to complete Recall’s previously announced tender offer to the public shareholders of Pulse Evolution Corporation (OTC: “PLFX”), which is now a majority owned subsidiary through our recently acquired Evolution AI Corporation. In connection with our planned up-listing to a national stock exchange, Mr. Textor will work with Chairman Bafer on an aggressive growth plan, balanced across both organic initiatives and strategic acquisitions.
With regard to our existing lines of business, Mr. Textor will continue to focus on our impressive digital human technologies and related opportunities as our primary business model. This includes supervision of our development stage artificial intelligence business, EvolutionAI, and of specific virtual performance projects driven by the global reputation of Pulse Evolution and its iconic celebrity rights and relationships.
Recall Studios will also look to capitalize on it publicly listed currency to achieve meaningful and accretive strategic acquisitions of complementary technology companies, with a priority on those that also bring revenue, cash flow and intellectual property (or strategic partner) contracts.
Mr. Textor will host a Shareholder Information Call on Tuesday, September 25, 2018 to discuss the recent business combination of Recall Studios and Evolution AI Corporation, including plans for our consolidated subsidiary Pulse Evolution Corporation. Details of the Recall Studios Shareholder Information Call are as follows:
Recall Studios Shareholder Information Call
Tuesday, 11:00am EST, September 25, 2018 Register Required, in advance for this meeting:
https://zoom.us/meeting/register/340024c7d342eb29cde7dc3c8da9331e
After registering, you will receive a confirmation email containing Telephone and Webcast Information about joining the meeting.
About Recall Studios
We are an entertainment technology company engaged in the development of mixed reality technologies (Virtual Reality and Augmented Reality) and related applications that contribute to a new paradigm of media consumption. We are focused on creating disruptive software, proprietary technology and applications, and immersive content. Our most recent SEC filings and financial information can be found on the Securities and Exchange Commission's website at www.sec.gov
About Evolution AI Corporation
Evolution|AI Corporation is an artificial intelligence technology company focused on the adaptation and development of hyper-realistic human animation technology to enable leading Artificial Intelligence
platforms to interact with consumers in a relatable human form. Founded by Mr. John Textor, an established and globally recognized pioneer in the field of hyper-realistic human animation, Evolution|AI intends to develop a robust library of functional human faces, and human characters, that will allow people to communicate with leading artificial intelligence platforms, just as they would expect to communicate with another human being.
Evolution|AI, which is also a licensee and major shareholder of Pulse Evolution technology, recently acquired a robust portfolio of technology, acquired from the legendary visual effects company Digital Domain, representing substantially all of the technology developed in connection with launch and operation of Digital Domain’s Florida animation studio. With the benefit of both the Digital Domain animation and studio technology portfolio, and the market leading human animation technology licensed from Pulse Evolution Corporation, Evolution|AI is uniquely positioned to be a true pioneer in the globally significant industry that emerging through the deployment of artificially intelligent digital humans in society, commerce and education.
FORWARD-LOOKING STATEMENTS; ADDITIONAL INFORMATION
Certain statements in this communication related to Recall Studios’ offer to acquire Pulse Evolution, including the combined company’s future performance, results, and plans, are “forward-looking statements” that are subject to risks and uncertainties, are based on management’s current expectations, and as a result of the following risks and uncertainties, among others, actual results and events may differ materially: the consummation of the proposed transaction; the successful integration of Recall Studios and Pulse Evolution and the ability to realize synergies and other benefits; the availability of funds to meet debt obligations and to fund operations and necessary capital expenditures; and the risks and uncertainties detailed by Pulse Evolution in its filings with the OTC. More information on potential factors that could affect our financial results is included from time to time in our SEC filings and reports. Recall Studios disclaims any obligation to update information contained in these forward- looking statements.
The Tender Offer referenced in this press release has not yet commenced. This communication is for information purposes only and is not an offer nor a solicitation of an offer to purchase, sell or exchange securities or a solicitation of a proxy from any stockholder. Subject to future developments, additional documents regarding the proposed transaction, such as a Schedule TO and a registration statement on Form S-4, may be filed with the SEC, which investors should read carefully if and when they become available because they contain important information. Investors may obtain a free copy of the documents filed by Recall Studios, when they are available, from the SEC’s website at www.sec.gov. Recall Studios, its directors and certain of its executive officers may be deemed to be participants in a solicitation of proxies for the proposed transaction.
Information about the directors and executive officers of Recall Studios is set forth in its most recent proxy statement for the annual meeting of stockholders, as filed with the SEC, and will be included in the relevant documents regarding the proposed transaction filed with the SEC.