Nexicon Issues Corporate Update
April 29 2008 - 9:30AM
PR Newswire (US)
GetAmnesty expands its reach in motion picture industry;
establishes footprint in music industry ALBUQUERQUE, N.M., April 29
/PRNewswire-FirstCall/ -- Today, Nexicon (Pink Sheets: NXCN), New
Symbol (Pink Sheets: NXCO) a leading supplier of anti-piracy and
network security solutions provided the following update from
Richard Urrea, CEO: "As we continue into the second quarter of
2008, I am pleased to provide updates on Nexicon related to our
recent financing, operations, and sales activities. "As of the
market open today, our stock will undergo a 1:1.6 reverse split,
and our stock symbol will change to NXCO. This reverse split
benefits the company by providing an improved capital structure for
future financing activities. Our planned future financing
requirements will support three main Nexicon initiatives: 1) begin
the steps necessary for relisting on a broader financial exchange;
2) further enhance the architecture which supports our anti-piracy
platform; and 3) improve the positioning of Nexicon in the
marketplace as the global leader in anti-piracy solutions. "On
February 25th of this year, we announced that an investor group had
entered into an agreement to acquire our outstanding notes due to
Yorkville Advisors LLC, also known as Cornell Capital Partners.
This was an extremely important accomplishment for Nexicon because
the terms with our new investment partner are now aligned with the
long term success of the company. "For the last six months,
Nexicon's pilot customers used our flagship GetAmnesty product to
accomplish what has never been done before -- monetize on a large
scale the losses caused by online piracy. We helped our customers
achieve this accomplishment by leveraging our extremely efficient
and robust technology platform. Now, for the first time in the
copyright industry, a company offers a technology solution that
simultaneously monitors illegal copyright downloads, analyzes this
data, reports on these infringements, and collects settlement fees
for our customers from these copyright infringers. "One important
feature of the GetAmnesty program is the distribution of DMCA
notices on a mass scale. When we first tested the GetAmnesty
program by emailing DMCA notices to individuals who had illegally
downloaded a copyrighted movie, we received a settlement payment in
11 minutes. For our customer who owned the copyright to the movie,
this was a watershed event. It confirmed that converting illegal
downloaders of digital media into consumers -- without costly and
time-consuming litigation -- is a reality. "Other copyright owners
heard about the success of the GetAmnesty solution, and we met with
a number of high-profile companies in the motion picture industry.
These companies are the leaders in their field -- including several
of the "Big Six" motion picture studios. To date, one of these Big
Six studios is contracted to receive business intelligence from
Nexicon, and we have enrolled four independent motion picture
studios in the GetAmnesty program. While we're proud of these
contract signings, an even more exciting aspect of the GetAmnesty
program for our team and for shareholders is that companies and
artists who own copyrighted material are reaching out to us to
learn about our anti-piracy solution. They like what they see, and
want to enroll in the program. "As a result of this feedback,
Nexicon has further scaled our technology platform to meet demands,
as evidenced by our technology platform's new ability to send 95
million infringement notices in a single day. Congratulations go to
our CTO Tommy Stiansen and his team for continuing to drive
innovation in our technology platform and developing a truly
remarkable anti-piracy solution. "Because of the complexity of our
anti-piracy technology solutions, the sales cycles with some of
these prospects are long - which can be frustrating to both
management and our shareholders. That being said, I am now happy to
report that we are in final negotiations to provide GetAmnesty and
additional anti-piracy services to several motion picture studios.
When complete, these agreements will provide Nexicon the green
light to enforce the copyrights of the studios' digital media
through GetAmnesty. Based on the number of titles and the online
piracy associated with the titles, the size and scope of these
potential agreements is significant -- we anticipate sending tens
of thousands of settlement notices each day. "Outside of the motion
picture industry, Nexicon has recently made strong headway into the
music industry by partnering with a marketing group representing a
major artist in the music industry -- a Hall of Fame musician with
dozens of Top-100 albums. Our technology development team is
completing the final updates to a customized, artist-branded
GetAmnesty site. "Now is a very exciting time for Nexicon and its
shareholders. We are working diligently to keep up with the demand
for GetAmnesty product demonstrations. We are at last on sound
financial footing. Our technology and infrastructure is ready.
We've added an experienced and capable advisory board representing
talent from Microsoft, Viewpoints Network, and City Capital
Advisors. We've engaged with a boutique marketing consulting group
who is currently upgrading our sales collateral, establishing
relationships with IT analysts and journalists, and assisting in
the establishment of the Nexicon brand. We at last have line of
sight into significant revenue leading to sustainable
profitability. "On behalf of our management team, we thank you for
your support, and I look forward to providing continued updates as
we progress through 2008." About Nexicon Nexicon Inc. delivers
next-generation anti-piracy, intellectual property security,
business intelligence, and network security products and solutions.
For more information on Nexicon, visit http://www.nexiconinc.com/.
For more information on GetAmnesty, visit
http://www.getamnesty.com/. This release contains statements that
constitute forward-looking statements within the meaning of Section
27A of the Securities Act of 1933, as amended, and Section 21E the
Securities Exchange Act of 1934, as amended. These statements
appear in a number of places in this release and include all
statements that are not statements of historical fact regarding the
intent, belief or current expectations of the Company, its
directors or its officers with respect to, among other things: (i)
the Company's financing plans; (ii) trends affecting the Company's
financial condition or results of operations; (iii) the Company's
growth strategy and operating strategy; and (iv) the declaration
and payment of dividends. The words "may," "would," "will,"
"expect," "estimate," "anticipate," "believe," "intend," and
similar expressions and variations thereof are intended to identify
forward-looking statements. Investors are cautioned that any such
forward-looking statements are not guarantees of future performance
and involve risks and uncertainties, many of which are beyond the
Company's ability to control, and that actual results may differ
materially from those projected in the forward-looking statements
as a result of various factors. DATASOURCE: Nexicon CONTACT:
Richard Urrea of Nexicon, +1-310-817-6600 Web site:
http://www.nexiconinc.com/
Copyright