WOW HUGE NEWS>>>InterVision Network Corporation Acquires Intellectual Property of Internet Protocol Television (IPTV) Processes
Jan 31, 2008 11:30:00 AM
View Additional ProfilesCOLORADO SPRINGS, CO -- (MARKET WIRE) -- 01/31/08 -- Future Quest Corporation (PINKSHEETS: IVSW) announced today that the company has undergone a dramatic transformation over the last 30 days, the most visible of which is a name change to InterVision Network Corporation or the trade name IVNET (see website www.ivnet.tv). This name change reflects an asset acquisition of existing internet content, intellectual property and other valuable assets, as well a change in corporate focus towards the production, distribution and future development of Internet Protocol Television (IPTV) technology.
IVNET has formed the subsidiary InterVision Streaming Corporation (iSTREAM). The new subsidiary is primarily a set-top box supplier whose revolutionary processes transfer internet code into streaming broadcasts that can be instantly viewed with the highest possible resolution via several user mediums including set-top boxes and cellular phones. iSTREAM also will supply its strategic partners with this revolutionary technology in a quick and efficient manner allowing capture of market share ahead of the curve.
IVNET and iSTREAM will be working to produce, distribute and develop IPTV technology, beginning with a set-top box that will be set for launch in mid-2008. At this time, IVNET and iSTREAM are in a launch planning and partnership phase.
IVNET is confident the company's several intellectual property assets, components of the forthcoming iSTREAM Console, will change IPTV technology. As the first such device that will deploy content directly to an end user, global content is available for viewing on the user's television in real time using only a broadband connection. These assets include IVNET's content delivery process, which streams in all increments from HD digital to analog and can be sent world wide in real time; IVNET's proprietary Graphic User Interface (GUI); IVNET's encoding process, which identifies user bandwidth and broadcasts media in accordance with the identified readings; and IVNET's cross-platform encoding process which allows universality of user interface.
Richard Luthmann, Executive President of IVNET, said, "We are extremely excited with the team we have put together and the acquisitions that this company has made over the past few months. A prominent technology CEO said last week that every company has tried to figure out how to get movies over the internet to a widescreen television and all have missed. We believe that we have hit the mark and that the iSTREAM Console will usher in a new era of multimedia consumption."
InterVision Network's predecessor has been operating since 2004 as IVNET, a global online television network. Founded by technology and media innovator Matthew Eagen, the assets of IVNET were sold to the publicly traded company that now bears its name, assets which include protected intellectual property items for several IPTV-related technology innovations which will be developed by IVNET and iSTREAM. Since the early 1980's, Mr. Eagan has been at the forefront of technological advancements in code and transmission. As a consultant, he brought knowledge and innovations to media content developers and distributors around the world for the last two decades. A pioneer in streaming video, he developed one of the world's first truly global multimedia streaming networks, allowing multinational companies to exploit the internet to its fullest potential for the first time. Now, Mr. Eagan's experience and proprietary hardware and software are exclusively available to IVNET and its partners. Mr. Eagen is the Chief Technology Officer and will spearhead IVNET and iSTREAM's development of IPTV and will also have a seat on the Boards of IVNET and iSTREAM.
Richard A. Luthmann is the Executive Vice President for Marketing and Business Development for IVNET. He is also the President and CEO of iSTREAM. Mr. Luthmann brings sophisticated banking, tax, finance and legal knowledge to IVNET and iSTREAM, as well as a proven track record in marketing, sales and business management. Mr. Luthmann is an attorney, admitted in, among other places, New York, New Jersey and the United States Tax Court. Most recently, Mr. Luthmann worked with several international financial institutions and high net worth clients, building an international banking and insurance network. He received his Juris Doctor from New York Law School and his Master of Laws from the University of Miami (Coral Gables, FL). Mr. Luthmann's undergraduate work was done at Columbia University. Mr. Luthmann will sit on the Board of IVNET and is the Chairman of iSTREAM.
Daniel Lupo has been named Executive Vice President and Chief Operations Officer of iSTREAM Corporation. Mr. Lupo is an experienced trader, with a focus on emerging technological marketplaces and an extensive global contact network. He has served as a Senior Dealer with several prominent FOREX dealers, including Forex Capital Markets, LLC and Tradition (N.A.), Inc., both based in New York City. Mr. Lupo completed his studies at Columbia University where he earned his B.A. in Economics and Political Science. Mr. Lupo will sit on the Board of iSTREAM.
Olivier Vallez has been named Executive Vice President and Chief Strategy Officer of iSTREAM Corporation. Mr. Vallez is an exciting and valuable addition to the iSTREAM team. After having received his JD/MBA, conferred from a joint program between the Zicklin School of Business and New York Law School, Mr. Vallez engaged in important consulting tasks for several prominent institutions including Bear Stearns and Sullivan & Cromwell. Mr. Vallez will sit on the Board of iSTREAM.
Mr. Luthmann, Mr. Vallez and Mr. Lupo were, for a short time, associated with Global Online Television Corporation, a subsidiary of Atlantis Technology Group, but all three have since resigned and are no longer affiliated with either company. Mr. Eagen was in negotiations with Atlantis Technology Group and had signed a non-binding Letter of Intent to develop IVNET with Atlantis Technology Group. That Letter of Intent had been cancelled by Mr. Eagen prior to the consummation of the asset purchase.
ABOUT INTERVISION NETWORK CORPORATION (IVNET)
InterVision Network Corporation, trade name IVNET (see website www.ivnet.tv), is dedicated to the development and distribution of original content for internet-based applications. In addition, IVNET creates hardware and software components to generate access to this proprietary content, as well as that of its strategic partners, through the wholly owned subsidiary iSTREAM.
ABOUT INTERVISION STREAMING CORPORATION
IVNET has formed the subsidiary InterVision Streaming Corporation (iSTREAM). The new subsidiary is primarily a set-top box supplier whose revolutionary processes transfer internet code into streaming broadcasts that can be instantly viewed with the highest possible resolution via several user mediums including set-top boxes and cellular phones. iSTREAM also will supply its strategic partners with this revolutionary technology in a quick and efficient manner allowing capture of market share ahead of the curve.
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: This release contains forward-looking information. Statements that are not descriptions of historical facts are forward-looking statements provided under the "safe harbor" protection of the Private Securities Litigation Reform Act of 1995. These statements are made to enable a better understanding of our business, but because these forward-looking statements are subject to many risks, uncertainties, future developments and changes over time, actual results may differ materially from those expressed or implied by such forward-looking statements. Examples of forward-looking statements are statements about anticipated financial or operating results, financial projections, business prospects, future product performance and other matters that are not historical facts. Such statements often include words such as "believes," "expects," "anticipates," "intends," "plans," "estimates" or similar expressions.
These forward-looking statements are based on the information that was currently available to us, and the expectations and assumptions that were deemed reasonable by us, at the time the statements were made. We do not undertake any obligation to update any forward-looking statements in this report or in any of our other communications, except as required by law, and all such forward-looking statements should be read as of the time the statements were made, and with the recognition that these forward-looking statements may not be complete or accurate at a later date.
Additional Information:
Investor Relations
866-891-4788
