LLos Angeles Syndicate of Technology Announces Successful Launches of First Three Portfolio Companies
SANTA MONICA, Calif., March 27, 2012 /PRNewswire via COMTEX/ -- Los Angeles Syndicate of Technology, Inc. (OTCQB: LAST), a Business Development Company (BDC) that incubates early stage technology companies, has announced the successful launches of the first three portfolio companies built within its technology incubator. LAST is the largest shareholder of each of the three companies including Sanguine Biosciences, a bio-specimen supplier; Virurl, Inc., a social advertising platform; and Stocktown Productions, a digital production studio.
"We are encouraged that our first three portfolio companies are generating revenue and expanding operations," said Bryce Knight, CEO of LAST. He added "We are excited to bring new team members into the LAST network to support the growth of these companies and to continue developing our second class of companies under the LAST umbrella."
About Los Angeles Syndicate of Technology - www.last.vc
Los Angeles Syndicate of Technology, Inc. (OTC: LAST) is a publicly traded Business Development Company (BDC) that creates, builds, and invests in web and mobile technology companies. LAST develops digital media, consumer internet, and social networking products in its technology incubator, and has a portfolio of six companies at different stages of development. LAST's mission is to foster technology innovation in Los Angeles by partnering with the most talented entrepreneurs of southern California and providing them with the capital, support and tools to bring their ideas to market and commercialize their products.
About Sanguine Biosciences, Inc. - sanguinebio.com
Sanguine Biosciences, Inc. ("Sanguine") is an international supplier of DNA data and bio-specimen to research organizations for the development of personalized medicines. Sanguine provides highly viable primary human cells and tissues to both the academic and industrial life science research communities through a new direct-to-patient platform. The current product offering spans customers' needs in the In Vitro Research & Development stage of Drug Development. Sanguine's vision is to develop into the global leader in high quality cells and tissues for life science research and development.
About Virurl, Inc. - virurl.com
Virurl, Inc. ("Virurl") is an online advertising platform that allows advertisers to incentivize people to share links with their friends. By creating a forum where users are rewarded for sharing links, the VIRURL platform empowers content creators and advertisers to tap the organic social networks of the web to drive traffic to their sites. Virurl is a "human-powered" advertising engine, enabling users to earn cash and rewards for what they are already doing everyday - sharing links with their friends.
About Stocktown Productions, Inc. - stocktownproductions.com
Stocktown Productions, Inc. ("Stocktown") is a digital production studio based in Santa Monica, California, specializing in video, animation and 3-D visual effects. In addition to video production, Stocktown provides innovative web and graphic design - bringing an original style and cutting-edge concepts to each project.
Forward-Looking Statements
Statements included in this release related to Los Angeles Syndicate of Technology, Inc. and its portfolio companies constitute or may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements involve a number of risks and uncertainties such as the inherent uncertainty of investing in early-stage technology companies, the technological and financial difficulties inherent in these activities, and the Company's ability to estimate accurately net revenues due to variability in size, scope and duration of projects. Further information on potential risk factors that could affect the Company's financial results can be found in the Company's reports filed with the Securities and Exchange Commission.
SOURCE Los Angeles Syndicate of Technology, Inc.
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