DBMM's Partner VMS Releases New Technology Roll Out and DBMM Public Market Update November 19 2013 - 01:59PM
DBMM's Partner VMS Releases New Technology Roll Out and DBMM Public Market Update NEW YORK, NY--(Marketwired - Nov 19, 2013) - Digital Brand Media & Marketing Group, Inc. (OTCQB: DBMM) and VMS Holdings (VMS) have jointly announced an enhancement to the partnership relationship released to the press on August 18th coincident with Letter of Intent between the parties.
Reggie James, Co-Chief Operating Officer and Senior Vice-President Marketing and Communications commented, "As we continue to implement our business plan and finalize the Letter of Intent (LOI) into a Joint Venture, there is an additive phase being developed between DBMM and VMS Play with the release of Version 2 of the software." James added, "Video messaging is maturing with an audience in the billions with applications to match. With companies like Facebook's Instagram and Twitter's Vine helping to drive the sector, the recent news that Microsoft is introducing video messaging via Skype is a strong indicator that both deployment and adoption of this technology can only grow."
The various revenue streams provided by version 2 only enlarge the product offering both parties can integrate into their existing client development.
Magnus Kniving, CEO of VMS, included his comments, "Coming out of beta, VMS2 has a number of unique features including an integrated payment system that will appeal to e-commerce customers as well as reaching a wider audience with a new self-service version of the platform."
Both parties expect to finalize the Agreement shortly following conclusion of the due diligence process. In addition, the Company is very pleased to report that the "Chill" imposed by the Depository Trust Company (DTCC) in September, 2012 has been satisfactorily resolved earlier this month. DBMM's independent outside counsel, retained by the Board of Directors specifically to address the matter, received the following decision, "Please be advised that The Depository Trust Company has determined to lift the Deposit Chill and has resumed accepting deposits of the Issue for depository and book entry transfer services." As this was the last open item regarding the Company's financial reorganization, the Company is executing its Business Plan, including its funding initiatives and acquisition development.
DBMM is in the midst of its 10-K audit preparation for the fiscal year ending August 31, 2013. Following the practice of previous years, the 10-K will be filed on or about December 15, 2013.
About Digital Brand Media & Marketing Group, Inc. (DBMM) DBMM Group crafts, designs and executes digital marketing strategies across multiple ad platforms and social media networks for a broad array of clients to help each of them establish a uniform brand identity across the digital universe. The product offering is a unique value proposition of intelligent analytics provided by an experienced digital marketing and technology team. DBMM is an OTCQB Company, Symbol OTCQB: DBMM.
About VMS Holdings, Inc. (VMS) VMS Holdings, Inc. develops a mobile application for sharing videos. Its mobile application allows companies and users to send and receive video content to and from a mobile phone; subscribe for a favorite celebrity, actor, TV-channel, or team and get video updates; and create your own channel and become a broadcaster, as well as serves as a tool for mobile marketing and sales. The company's mobile application is available for Android, BlackBerry, iPhone, and Symbian devices. It distributes its mobile application through distributors, and mobile device and application stores in Africa, Europe, Asia, North America, and South Africa. It serves mobile operators and media companies, government organizations and law enforcement agencies, premium content providers and retailers, sports clubs, and celebrities worldwide.
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