TORONTO, ON / ACCESSWIRE / March 25, 2015 / Intertainment Media Inc. (TSX VENTURE:INT) (PINKSHEETS:ITMTF) (FRA:I4T) ("Intertainment Media" or "Company") is pleased to announce that the United States Patent and Trademark Office has granted a patent for "Translation System and Method for Multiple Instant Message Networks."
United States Patent No. US 8,983,850 B2 was granted on March 17, 2015, and it is described as follows:
A method and system provides a graphical user interface for instant messaging on any of a plurality of instant messaging networks. The interface provides a roster of contacts in each instant messaging network. Instant messages entered through the interface are machine translated into a preferred language for each intended recipient contact. The translated message is sent over the respective instant messaging networks of the intended recipient contacts. Response messages are translated into the source language of the user of the graphical user interface.
The patent, with Provisional application in July, 2011, was formally applied for in July 2012, allowing for the protection of our technology where instant messages are translated for communication purposes between languages. The patent was granted to Ortsbo Inc., which is now branded under the name TranzActive, a division of Intertainment Media Inc.
Additionally, Yappn Corp. (OTCQB:YPPN), a TranzActive partner, under its agreement, will also have access to the patent for its real-time language services offerings as it enables messaging as part of its real-time multi-language service suite of Marketing, Ecommerce and Customer Support programs globally.
"Instant messaging continues to gain momentum throughout the global landscape and we're extremely pleased to announce another full grant of one of our many patent-pending initiatives within our divisional IP portfolio," said Mr. Anthony R. Pearlman, President and COO Intertainment Media. "The protection of our technology afforded by this patent is invaluable as its scope of use is extensive and digital communication with diverse language usage is continuing to increase and we expect it to become quite prolific over time."
Additionally, Intertainment has settled outstanding indebtedness of $77,790 through the issuance of 1,555,800 units ("Units") of the Company at a price of $0.05 per Unit. Each Unit is comprised of one common share ("Common Share") in the capital of the Company and one common share purchase warrant ("Warrant") exercisable at a price of $0.05 per Common Share until March 20, 2016. The securities issued pursuant to this transaction are subject to a four month hold period that expires on July 21, 2015.
About TranzActive - www.tranzactive.com
Formerly branded as Ortsbo Inc., TranzActive is the Language Service Technology arm of Intertainment Media Inc. TranzActive provides its global licensed language services technology to facilitate the expansion into new markets for start-ups, high growth and emerging corporate online enterprises. TranzActive's business model is partner based, allowing organizations to grow their global presence without the burden of a significant addition of resources.
TranzActive is actively partnering with developers, agencies and companies to create global engagement. Based on a review of opportunity, TranzActive offers its technologies on an equity and fee for license basis to create value for the Intertainment Media organization.
TranzActive also partners with Yappn Corp. to offer professional services, product development, online marketing initiatives and other services on a best practices basis.
About Intertainment - www.intertainmentmedia.com
Intertainment is one of Canada's leading technology incubators and is focused on developing, nurturing and investing in both North American and global technologies and companies that provide technology solutions for brands and consumers alike. Intertainment also owns and operates a number of key properties and has investments in leading edge technologies and social media platforms, including TranzActive, CapThat, theAudience, Lexifone, Shiny Ads and Yappn Corp (www.yappn.com) (OTCQB: YPPN). For more information on Intertainment and its properties, please visit www.intertainmentmedia.com.
Intertainment is headquartered in the Toronto, Canada region, with offices in New York and Los Angeles, CA and is listed on the TSX Venture Exchange under the symbol "INT" (TSXV: INT) and in the US under the symbol "ITMTF". Intertainment is also traded in Europe on the Open Market (Regulate Unofficial Market) of the Frankfurt Exchange under the symbol "I4T".
Contact
Mr. Anthony R. Pearlman, COO
info@intertainmentmedia.com
Forward Looking Information
This news release contains certain "forward-looking information" within the meaning of such statements under applicable securities law, including statements relating to the expected use of proceeds of the Offering.
Forward-looking information is frequently characterized by words such as "plan", "expect", "project," "intend," "believe," "anticipate," "estimate," "may," "will," "potential," "proposed" and other similar words, or statements that certain events or conditions "may" or "will" occur. These statements are only predictions. Forward-looking information is based on the opinions and estimates of management at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking statements. Actual timelines associated may vary from those anticipated in this news release and such variations may be material. Actual results could differ materially because of factors discussed in the management discussion and analysis section of our interim and most recent annual financial statements or other reports and filings with the TSX Venture Exchange and applicable Canadian securities regulators. The Company undertakes no obligation to update forward-looking statements if circumstances or management's estimates or opinions should change, unless required by law. The reader is cautioned not to place undue reliance on this forward-looking information.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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SOURCE: Intertainment Media Inc.
