New York, NY, Nov. 06, 2018 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- Recall Studios (OTC: “BTOP”) today announced the hiring of internationally recognized entertainment technology pioneer Dr. Barry Sandrew to lead the Company’s Strategic Acquisition Campaign, an industry first roll-up of the leading talent, technologies and companies engaged in the development of digital humans. Recall Studios believes the high-growth digital human industry is ripe for consolidation. Therefore, the company intends to capitalize on its 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.
“It is all but impossible to find a multi-billion dollar global industry with the potential to affect almost every human life…that has seen essentially no strategic consolidation,” commented Recall CEO John Textor, “and since this is only the beginning of the digital human industry, we believe we can identify, acquire and/or collaborate with the small and very special group of people and companies that will be responsible for much of the innovation that will fascinate users, consumers and audiences for years to come. Barry is one of those special people and he is the perfect choice to lead our roll-up strategy.”
Dr. Sandrew comes to Recall Studios with a long history of invention, business building accomplishment, and relationships across the film, television and technology sectors. Once a Harvard University and Mass General Hospital neuroscientist, Barry has more than 33 patents in film and television, and may be best known as the inventor of landmark film technologies such as Digital Colorization, for the conversion of black and white feature films, and 3D Conversion technologies and production processes, for the conversion of newly produced and iconic 2D films for 3D enjoyment.
With the invention of digital colorization in 1987, he founded American Film Technologies and colorized over 250 films, 180 television shows and 70 cartoons. In 1993, he produced all color, compositing and visual effects for Steven Spielberg’s first digital animated feature film, We’re Back, A Dinosaur Story, along with many other similar projects for leading studios. Dr. Sandrew re-invented colorization in 2000, founding Legend Films, where he produced the colorization of over 150 films, including the colorization of film libraries for Fox, Sony, Universal and Paramount.
In 2007, Dr. Sandrew invented a process for converting newly produced and iconic 2D films to 3D, rebranding his company to Legend3D and becoming an immediate market leader in Hollywood’s promotion and release of 3D feature films. Responsible for the 3D release of films such as Alice in Wonderland, the Shrek trilogy, and Transformers, Dr. Sandrew’s team was responsible for the visual effects and 3D enjoyment of more than 50 of the highest grossing feature films over the past decade. During Dr. Sandrew’s tenure at Legend3D, his conversion process and production pipeline ultimately became the gold standard for quality 3D conversion.
Commenting on his appointment, Dr. Sandrew stated, “I have long shared the belief that digital humans will be ubiquitous in society... entertaining us, assisting us, educating us and becoming influential in every aspect of our lives. I also share the belief that the highest quality innovators in this field will benefit from a cohesive business entity that both protects and rewards the value of their invention along with their years of contribution and digital artistry. There is no question that we can be the best in the digital human industry as long as we are determined to partner with the best.”
About Recall Studios
Recall Studios, including its consolidated subsidiaries, is a globally recognized, market leading developer of hyper-realistic digital humans – computer generated assets that can be distributed across the full spectrum of traditional media and emerging display technologies, including live entertainment, virtual reality, augmented reality, mobile, interactive and artificial intelligence applications. In August 2018, Recall Studios acquired Evolution AI Corporation, a developer of digital humans as an ‘inter-Face’ of artificial intelligence applications, including its majority interest in Pulse Evolution Corporation, a globally recognized leader in the development of hyper-realistic digital humans for entertainment. Evolution AI Corporation’s John Textor, described recently by Forbes magazine as “Hollywood’s Virtual Reality Guru”, was recently appointed CEO of Recall Studios and, together with Chairman Alexander Bafer, is committed to applications of Mixed Reality (VR and AR) and the important role that digital humans and artificial intelligence will play in the world of immersive entertainment. Now, with a complete understanding of creative and technical content creation, a global reputation for delivering some of the world’s most visually stunning imagery, including our unprecedented hyper-realistic digital humans, and with proprietary technology that is as attractive to strategic partners as it is to consumers, we believe Recall Studios has a profound and global opportunity to capitalize on the most lucrative business opportunities across the industries of entertainment, education, communications and artificial intelligence.
Our most recent SEC filings and financial information can be found on the Securities and Exchange Commission's website at www.sec.gov
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.