Tivus, Inc. Submits Reduction of Authorized Common Stock
September 30 2010 - 1:34PM
Marketwired
Tivus, Inc. (PINKSHEETS: TIVU), a provider of turnkey media
entertainment technology to the hotel and hospitality industry,
today announced it has submitted to the Secretary of State an
amendment to its Corporate Charter to reduce Tivus' authorized
share count from 2,000,000,000 shares to 300,000,000 shares.
"Typically, once a change is submitted to the Secretary of
State, processing and completion of the share reduction in a
Corporate Charter can take a few weeks to be officially
accessible," commented Shiva Prakash, Tivus' president and chief
executive officer. "I look forward to updating shareholders once I
have confirmation from the Secretary of State of its successful
filing.
"In addition, Tivus is moving ahead executing its business plan
to install its unique-to-the-hotel-industry HD IPTV network. Our
sales team has been met with enthusiastic acceptance of Tivus' new
revenue sharing-based paradigm -- turning what was once a major
hotel capital expenditure that produced little to no revenue, into
a significant profit center.
"We are excited to have recently signed the Omaha Doubletree®,
and I expect announcements of new properties and other hotel chains
to follow as we complete advanced discussions with a number of key
targets," Prakash concluded.
About Tivus, Inc. Tivus, Inc. is a technology entertainment
services company that provides internet-based TV and Cable
programming, interactive game content, and goods & services to
the hotel/hospitality industry. Using onsite hardware and software,
including ultra-modern flat screen televisions, Tivus offers hotel
guests secure broadband connectivity to the Internet via a
proprietary Network Operations Center, allowing Tivus to uniquely
monitor, protect and track each customer transaction. Tivus not
only provides its customers a turnkey entertainment solution for
its guests, for the first time, the hotel's entertainment system
will be a multifaceted platform in which to generate previously
untapped revenues through commercial spots, advertisements of local
tourist services, and hotel promotions, etc. For more information,
please visit www.tivus.com.
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on current management expectations, and are considered
"forward-looking statements," generally preceded by words such as
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result of new information or future events. We urge investors to
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with the OTC Markets and/or Securities and Exchange Commission.
Media Relations: Steven Haag (877) 608-3388
tivus@smallcapss.com