Image Protect Inc (IMTL)

[trading.jeff]

$IMTL PR: IMTL and KODAKOne Complete Significant IP Transfer to Commence Revenue Generation Activities in $5M Strategic Partnership

SAN CLEMENTE, Calif., Sept. 24, 2019 (GLOBE NEWSWIRE) -- via OTC PR WIRE -- Image Protect Inc. (OTC: IMTL) (imageprotect.com) (“Image Protect”, “IMTL”, or the “Company”), a global leader in the end-to-end copyright infringement sector, is excited to announce that major image rights enforcement activities have commenced in the Company’s strategic partnership agreement (the “Partnership”) with RYDE Holding (“RYDE”), the creator and operator of the KODAKOne Image Rights Management Platform, with the full large-batch transfer of 596,270 IMTL infringement claim-related files for processing on the KODAKOne Platform.

“The big point here is that our Image Rights Infringement segment is now active and on track to make a major contribution to revenue growth,” commented Matthew Goldman, CEO of Image Protect. “The successful navigation of this important step completes the process of pursuing hundreds of thousands of infringement claims through the KODAKOne platform. We can now begin a countdown to revenue given this milestone with the KODAKOne Partnership.”

Management notes that the initial batch of images for these claims were flagged by Image Protect’s proprietary market-leading back-end infringement identification platform. File transfer and integration into the KODAKOne Image Rights Management Platform was seamless, and processing of claims has already begun.

KODAKOne continues to assess the revenue potential of the infringement claims involved in the Partnership at $5 million. The Company anticipates revenues to be realized in Q1 2020.

“The process of transferring critical files for integration was without issue and further reinforces our confidence that the KODAKOne API technology is rock solid,” continued Mr. Goldman. “This effectively removes all remaining technical uncertainty and commences major revenue generation activity within the purview of this partnership.”

http://www.globenewswire.com/news-release/2019/09/24/1919839/0/en/IMTL-and-KODAKOne-Complete-Significant-IP-Transfer-to-Commence-Revenue-Generation-Activities-in-5M-Strategic-Partnership.html