From MediaCaster
DAILY NEWS Aug 14, 2014 7:56 AM - 0 comments
Canadian Clipstream Developer Changing Address, Building Business
Vancouver-based Destiny Media Technologies wants to change its corporate jurisdiction from Colorado to Nevada.
The digital media software developer offers secure solutions for audio and video online content delivery, known as Clipstream and Play MPE.
Destiny says the change of corporate jurisdiction will give it a greater measure of flexibility and simplicity in corporate governance, and will increase the marketability of its securities. Company CEO Steve Vestergaard noted that Destiny’s business and affairs can be conducted to better advantage if the company is able to operate under Nevada law, where Destiny says corporate law is more flexible and more substantive.
The change of corporate jurisdiction is subject to the approval of the shareholders at a special meeting to be held on September 25, 2014 as well as the TSX Venture Exchange.
Meanwhile, Destiny has appointed a former key Microsoft executive as its new Vice President and Chief Operating Officer for its Clipstreambusiness.
Dale Borland will now be responsible for overseeing all aspects of Clipstream, including the strategic plan, personnel, sales and marketing, and product strategy.
Borland brings more than 25 years of leadership experience in successfully commercializing new technologies in multiple international markets.
He joined Microsoft in 1989 and during his 17-year tenure, he held senior management and executive roles in a number of fast growth divisions, with accomplishments that included a 400 per cent revenue growth in each of the business units he led (including strategy, sales, marketing and channels development for Microsoft's pursuit of the home market during the time of initial commercialization of the MSN Network, Digital Media products and Xbox).
"We are very excited to bring Dale into our senior management team. His global operations, strategic planning and marketing background, combined with a demonstrated ability to lead organizations to meaningful growth are an excellent match for the needs of this position," Vestergaard said in a statement. "His extensive background and leadership will also be instrumental as we build out the sales, marketing and support team for Clipstream."
