here is why Yappn was sold
"Intertainment Media Inc. is focused on incubating unique social media opportunities and innovative technologies, bringing them to a stage where we can create significant shareholder value," said David Lucatch, CEO of Intertainment Media and founder of Yappn. "Management believes that the best opportunity for its social media success is in the US as the US public markets are showing significant signs of optimism with record market highs. The sale of the Yappn assets to a US publicly listed entity is a key step to achieving our goals."
In addition to the Yappn asset sale, management continues to work on senior US listing opportunities for other assets including Ortsbo. Management is also exploring various options, such as a special dividend, for the distribution of a portion of the shares it receives from the Yappn sale to Intertainment shareholders. Any distribution will be at a future date and will be subject to board and necessary regulatory approvals and compliance. Further information will follow.
Currently, Yappn is inviting interested people from around the world to sign up to be part of its upcoming beta testing program at www.yappn.com. Participants in the beta trials will have the opportunity to earn exclusive badges and rewards as part of Yappn's gamification program.
Yappn - www.yappn.com