Recap 3 good reads Here are a few key articles to read that will give a very clear view of whats going to transpire very soon in 2012.
Intertainment's Ortsbo Announces Strategic Relationship with Variety - MarketWatchThe Variety Entertainment Summit will be the exclusive launch of Ortsbo's new proprietary service; multi-lingual closed captioning, or Ortsbo's Language Captioning System, which allows viewers to watch video broadcasts, and also view an accompanying language real time text stream, like closed captioning found on television broadcasts, but in their personally selected choice of over 50 languages. This game-changing proprietary system, which is part of Ortsbo's Live & Global platform, provides the ability for universal language broadcasting on a global basis, regardless of the native language of the broadcaster, potentially changing the face of ethnic, cultural, sports, entertainment, business and other forms of online, video and television live and pre-recorded broadcast programming.
How does Intertainment Media's Ortsbo stack up against US Social Media IPO's?
A spinoff of Ortsbo would therefore be bigger than the value of its parent company. Shares of Intertainment Media closed today at $.52 cents, giving it a market cap of just under $150 million.
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Below article cut and pasted from Seadar Filings:
INTERTAINMENT MEDIA PROVIDES ORTSBO TRANSACTION UPDATE
Company intends application for listing on senior Canadian and US Exchanges
TORONTO, CANADA – November 28, 2011 – Intertainment Media Inc. ("Intertainment" or the "Company") (TSXV: INT / OTCQX: ITMTF / XETRA FRA: I4T) is pleased to provide a further update on the status of its subsidiary, Ortsbo Inc. (“Ortsbo”). Based on the continued growth of Ortsbo and the analysis with key strategic advisors to increase value to the Company and its shareholders, Intertainment intends to initiate the process to “spin out” Ortsbo and consider independent applications for listing on senior Exchanges in Canada and the United States. This transaction will be subject to all applicable board, shareholder and regulatory approvals.
As part of the process, the intention is for Intertainment to retain significant interest in the new enterprise, allowing it to gain from any increase in valuation of Ortsbo as an independent company and to use those gains to continue to develop and support exciting new technology and new media assets with the goal of creating additional independent enterprises. This strategy is consistent with Intertainment’s mandate to create, nurture and invest in high growth enterprises.
To date, Ortsbo has garnered significant interest by US Banks, Venture and investment firms and has already received interest for a lead order of $20 Million from a US Institution at an anticipated pre-money valuation for Ortsbo Inc. of a minimum $210 Million USD, with further potential interest for additional financing. This provides Ortsbo, as an independent division of Intertainment with a significantly higher independent value than the total current enterprise of the Company as a whole.
With the guidance and foresight of Intertainment’s strategic investment and incubation program, Ortsbo has quickly grown to over 40 Million Monthly Unique Users and has generated in excess of 1.3 Billion minutes of User Engagement, surpassing growth of Facebook, Gmail, Foursquare and other major social media platforms in its first year. To capitalize on the increasing enterprise valuations in the social media sector, Intertainment feels that the best methodology for continued increased value is to allow Ortsbo to grow as an independent firm.
Ortsbo is currently reviewing its strategic operations plan, together with its advisors, as it plans to establish a world-class executive team, senior social media, linguistic, marketing and technology staff to continue the accelerated growth and generate sustainable revenue programs. It is proposed that Ortsbo’s head office will be located in Southern California to take advantage of the rich resources in the social media, venture, and entertainment industries in those regions, with significant development and operations residing in the Toronto and New York City regions.
BK