Attached files
| file | filename |
|---|---|
| 8-K - FORM 8-K - Troika Media Group, Inc. | t68732_8k.htm |
| EX-10.2 - EXHIBIT 10.2 - Troika Media Group, Inc. | ex10-2.htm |
| EX-10.4 - EXHIBIT 10.4 - Troika Media Group, Inc. | ex10-4.htm |
| EX-10.3 - EXHIBIT 10.3 - Troika Media Group, Inc. | ex10-3.htm |
| EX-10.1 - EXHIBIT 10.1 - Troika Media Group, Inc. | ex10-1.htm |
Exhibit
99.1
Verition
Capital Invests Additional Funds into Roomlinx
$750,000
Common Stock Investment at $4.00 per share
DENVER, CO – August 19, 2010 –
Roomlinx, Inc. (OTC: RMLXD), a leading
provider of Interactive TV (iTV) solutions for the hospitality industry,
announced today that it has completed a private placement of 187,500 shares of
common stock to affiliates and principals of Verition Capital (“Verition”) for
total gross proceeds of $750,000, which represents a per share purchase price of
$4.00. The primary use of this additional capital will be to fund installation
expenses for properties installing the Roomlinx Interactive TV product and to
fuel sales and marketing efforts. A portion of the proceeds may also
be used for strategic acquisitions.
“I am
very pleased with Verition’s additional investment as it strengthens our
financial position as we expend capital in connection with new customer and
hotel relationships,” commented Mike Wasik, CEO of Roomlinx. “We remain focused
on our ultimate goal of being the leading provider of all facets of in-room hotel,
resort and timeshare entertainment, programming and internet
connectivity.”
The
shares of common stock issued in the private placement were issued to accredited
investors, have not been registered under the Securities Act of 1933, as amended
(the “Securities Act”) or any state securities laws and may not be offered or
sold in the United States absent registration with the Securities and Exchange
Commission (“SEC”) or an applicable exemption from the registration requirements
of the Securities Act.
About
Roomlinx
Roomlinx is the hospitality in-room expert providing
in-room Interactive TV products for hotels, resorts, and other properties,
utilizing premium content and applications demanded by today’s traveler. For
more information about Roomlinx, visit www.roomlinx.com.
CONTACT:
Kelly Frey, Roomlinx, (720) 880 – 5155, kfrey@roomlinx.com
# #
#
Safe
Harbor Cautionary Statement
Certain statements in this news release, including
statements that we "believe," "expect," "intend," "plan" or words of similar
import, are forward-looking information within the meaning of Rule 175 under the
Securities Act of 1933 and Rule 3b-6 under the Securities Exchange Act of 1934,
and are subject to the safe harbor created by those rules. All statements, other
than statements of fact, included in this release, including, without
limitation, statements regarding potential future plans, new products and
services and objectives of the company, are forward-looking statements that
involve risks and uncertainties. There can be no assurance that such statements
will prove to be accurate, and actual results and future events could differ
materially from those anticipated in such statements. Factors that could cause
actual results to differ materially from those in the forward-looking statements
include, among other things, the following: the company's successful
implementation of the new products and services, demand for the new products and
services, the company's ability to successfully compete against competitors
offering similar products and services, general economic and business
conditions; unexpected changes in technologies and technological advances;
ability to commercialize and manufacture products; results of experimental
studies research and development activities; changes in, or failure to comply
with, governmental regulations; and the ability to obtain adequate financing in
the future. This information is qualified in its entirety by cautionary
statements and risk factors disclosure contained in certain of the Company's
Securities and Exchange Commission filings available at http://www.sec.gov, which you should carefully review. Roomlinx does not
assume any obligation to update or revise any forward-looking statements,
whether as the result of new developments or otherwise.