Insignia Systems, Inc. (Nasdaq: ISIG) (“Insignia” or the “Company”)
today announced that Tim Halfmann, Insignia’s Chief Sales and
Marketing Officer, and majority owner of TLM Holdings, LLC (“TLMH”),
will transition out of his role at Insignia on April 30, 2016. This
transition into a role at TLMH will allow Mr. Halfmann to focus his
efforts more fully on The Like Machine™ product and its evolution going
forward. The Company also announced it has entered into a new
distribution agreement with TLMH for sale of The Like Machine to
Insignia’s customers. This new agreement replaces the Company’s prior
license agreement with TLMH and will allow the Company continued access
to this innovative product. This new agreement includes a consulting
arrangement between Insignia and TLMH that provides for assistance in
the sale and expansion of this product for Insignia.
Mr. Halfmann remarked, “Over the past two years, we have made meaningful
progress in several areas as a company and we have created an exciting
new shopper experience with The Like Machine. I believe that progress
has helped lay the foundation for the future direction of Insignia. My
next role focusing on The Like Machine’s product path is an important
step in our collective success.”
John Gonsior, Insignia’s President and CFO, commented, “We are pleased
to have renewed our commitment to The Like Machine and would like to
thank Tim Halfmann for his significant contributions to Insignia leading
our sales and marketing efforts over the past two years. We are excited
to see Mr. Halfmann transition to a role focused on The Like Machine
product path and believe that this focus will benefit both companies.”
About Insignia Systems, Inc.
Insignia Systems, Inc. is a developer and marketer of innovative
in-store products, programs and services that help consumer goods
manufacturers and retail partners drive sales at the point of purchase.
Insignia provides at-shelf media solutions in approximately 13,000
retail supermarkets, 2,000 mass merchants and 8,000 dollar stores. With
a client list of over 200 major consumer goods manufacturers, including
General Mills, Kellogg Company, Kraft Foods, Nestlé and P&G, Insignia
helps major brands deliver on their key engagement, promotion, and
advertising objectives right at the point-of-purchase. For additional
information, contact (800) 874-4648, or visit the Insignia website at www.insigniasystems.com.
Cautionary Statement for the Purpose of Safe Harbor Provisions of the
Private Securities Litigation Reform Act of 1995
Statements in this press release which are not statements of historical
or current facts are considered forward-looking statements within the
meaning of the safe harbor provisions of the Private Securities
Litigation Reform Act of 1995, as amended. The words “believes,”
“expects,” “anticipates,” “seeks” and similar expressions identify
forward-looking statements. Readers are cautioned not to place undue
reliance on these or any forward-looking statements, which speak only as
of the date of this press release. Statements made in this press release
by the Company’s management team, regarding, for instance: current
expectations as to future financial performance; our ability to achieve
revenue growth, cost improvements and profitability; current sales
trends with consumer packaged goods manufacturers; the expected addition
of retailers and the ability to increase revenue; continued stability of
our business relationship with News America; our ability to develop and
successfully implement new products to diversify our business and to
increase our retailer access for these products, are forward-looking
statements. These forward-looking statements are based on current
information, which we have assessed and which by its nature is dynamic
and subject to rapid and even abrupt changes. As such, actual results
may differ materially from the results or performance expressed or
implied by such forward-looking statements. Forward-looking statements
involve known and unknown risks, uncertainties and other factors,
including: (i) the risk that management may be unable to fully or
successfully implement its business plan to achieve and maintain
profitability in the future; (ii) the risk that the Company will not be
able to expand core product offerings or to develop and implement new
product offerings in a successful manner, including our ability to gain
retailer acceptance of new product offerings; (iii) the unexpected loss
of a major consumer packaged goods manufacturer relationship or retailer
agreement or termination of the Company’s relationship with News
America; (iv) prevailing market conditions in the in-store advertising
industry, including intense competition for agreements with retailers
and consumer packaged goods manufacturers and the effect of any delayed
or cancelled customer programs; (v) potentially incorrect assumptions by
management with respect to the financial effect of cost containment or
reduction initiatives, current strategic decisions, current sales trends
for fiscal year 2016; and (vi) other economic, business, market,
financial, competitive and/or regulatory factors affecting the Company’s
business generally, including those set forth in our Annual Report on
Form 10-K for the year ended December 31, 2014 and additional risks, if
any, identified in our Quarterly Reports on Form 10-Q and our Current
Reports on Forms 8-K filed with the SEC. Such forward-looking statements
should be read in conjunction with the Company's filings with the SEC.
The Company assumes no responsibility to update the forward-looking
statements contained in this press release or the reasons why actual
results would differ from those anticipated in any such forward-looking
statement, other than as required by law.
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