Benefits of Conversion
Coming soon to a Portfolio near you:
The Company recently received three (3) discussion term sheets from US investment firms to provide staged financing for the company. Management and the Board are reviewing the term sheets to determine the best financing method for moving forward with U.S. based growth strategies. The Company is also in the process of finalizing its current debenture offering of $1 Million announced on January 21, 2013.
Yappn has received significant interest from US entertainment and investment groups. Initially positioned as a subsidiary of Intertainment Media Inc., through its development stage, Yappn will remain as an internal program of Intertainment Media until it is ready to launch its business activities. The Company has been approached internationally to partner Yappn in other global regions and will report on its progress as news is available.
Given the ongoing interest in the US for Intertainment's incubation program and its products and the potential opportunity to spin out Ortsbo to a senior US Exchange, the Company has received interest and has offered to extend its Ortsbo debenture holders which are due on February 28, 2013 for a further 60 day extension. This offer is being made to maintain all the benefits of conversion provisions during this period.