Triton to License Privileged, Inc. Technology; Expects $2 Million in Royalty Fees
May 17 2012 - 8:17AM
Marketwired
Triton Distribution Systems, Inc. (PINKSHEETS: TTDZ) announced
today that the Company will license its proprietary Travel
Reservation System's technology: "Reservation Expert System™"
(RES), to Privileged, Inc. for an initial annual royalty of $2
Million. The license agreement will be initially valid for two
years and thereafter it will be renegotiated annually based upon
customary performance clauses.
Triton has appointed a separate management team to operate
Privileged, Inc., under a strategy of specifically conceived plans
that have been established by Triton's management.
Triton is currently planning to file a Registration statement
with the Securities and Exchange Commission to take Privileged,
Inc. public as soon as reasonably practical and plans to
accommodate all Triton shareholders upon successful execution
accordingly.
The Company is in preparations to announce, in the very near
future, several operational and organizational solutions that will
identify and set Privileged, Inc. apart from the competition and on
the path to success.
FORWARD-LOOKING STATEMENTS This news release includes
forward-looking statements. While these statements are made to
convey to the public the company's progress, business opportunities
and growth prospects, readers are cautioned that such
forward-looking statements represent management's opinion. The
company's operations and business prospects are always subject to
risk and uncertainties.
Contact: Triton Distribution Systems, Inc.
415-381-4806
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