FORT MYERS, Fla., Jan. 05, 2018 (GLOBE NEWSWIRE) -- WhereverTV Broadcasting Corp. (OTCQB:TVTV), which delivers Over The Top (OTT), prepaid, no-contract, subscription television services to a variety of devices including smartphones, TabletPCs, streaming media players, computers and connected TVs announced today that it’s CEO Edward D. Ciofani and its CFO Rene Morisette have converted their outstanding debt with WhereverTV to equity. The CEO & CFO have converted all their accrued debt through December 31, 2017 to equity. This will strengthen the balance sheet and its financial position moving forward. Additionally, in December 2017, Board of Director members Milo Seidl and Gary McGuirk Sr. fulfilled their Lines of Credit by investing $350,000.00 in equity financing.
“I believe in what we have accomplished as an organization and our entire team. With the re-launch of WhereverTV Worldwide and the launching of WhereverTV Latino, coupled with the announcement of a marketing alliance with Google Chromecast I couldn’t be anymore confident in the companies’ future. The directors of our Company, by fulfilling their LOC, demonstrates their confidence in our efforts as well. We have been positioning the Company for the future and I believe this is just the beginning. We have now achieved significant administrative, technical and infrastructural milestones for 2017 and I believe we are in position to aggressively market our subscription services and channel offerings in 2018. We plan to launch an aggressive customer acquisition effort in the immediate future. We will be announcing marketing plans and partners before the end of January,” said Edward D. Ciofani, CEO.
For more information please click: Internet TV, Over the Top or WhereverTV.
Contact:
Ph: (239) 319-2692
Email: socialmm@Wherever.TV
About WhereverTV Broadcasting Corporation (Symbol: TVTV)
Founded in 2007, WhereverTV is the next generation subscription television service providing consumers with live-streaming, genre-specific, and in-language viewing choices from around the world, delivered to anywhere in the world, and through any internet enabled device. WhereverTV provides an economically beneficial and completely versatile alternative to traditional cable and satellite services, with the added benefits of personalization and portability. Also known as Internet TV, WhereverTV delivers content, shows and events to SmartTVs and digital media receivers including: iPhone, iPad, Android Smartphone and TabletPCs. The WhereverTV patented IPG platform enables subscribers to access licensed content from content providers from around the world. The customer viewing experiences are based on customer location (geo-targeting) and content/digital-rights management contracts. Apps are presently available for free in App Stores for iOS (Apple) and Android devices. DVR functionality to record your shows and view later is presently in the works. Please visit: www.wherever.tv, for more info.
This news release contains forward-looking statements, which may not be based on historical facts. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results events or developments to be materially different from any future results, events or developments expressed or implied by such forward-looking statements. These factors should be considered carefully and readers are cautioned not to place undue reliance on such forward-looking statements. Except as required by applicable securities laws, the Company disclaims any obligation to update any such factors or to publicly announce the results of any revisions to any of the forward-looking statements contained herein to reflect future results, events or developments.
SOURCE WhereverTV Broadcasting Corp.