TIVU NEWS
Tivus Files Third Quarter Financial Report
Company to Commence Audit
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Press Release Source: Tivus, Inc. On Monday January 10, 2011, 10:06 am EST
OMAHA, NE--(Marketwire - 01/10/11) - Tivus, Inc. (Pinksheets:TIVU - News), a provider of turnkey media entertainment technology to the hotel and hospitality industry, today filed its third quarter of fiscal 2010 financial report with OTC Markets, which complies with Generally Accepted Accounting Principles (GAAP).
"I am pleased to announce the filing of our fiscal year 2010 third quarter financial report," commented Shiva Prakash, Tivus' president and chief executive officer. "The company's third quarter GAAP-compliant financials necessarily required reaching back to 2008 and performing GAAP-conforming recalculations of 2008, 2009, and part of 2010. Furthermore, Tivus' business plan remains on our expected timelines for both regulatory compliance and contract acquisitions.
"I expect to shortly begin Tivus' audit once our CPA closes 2010 and promptly complete our plan to become fully reporting and qualify for up-listing."
Tivus' leads the internet-protocol television (IPTV) hotel entertainment industry creating the first-ever revenue-sharing-back-to-the-hotel IPTV service, turning hotel TV entertainment systems into a significant profit center for the property without increasing costs to the guest or hotel.
"December has seen a remarkable amount of sales and installation successes; and I look forward to updating shareholders on these and other material events this month," concluded Prakash.
About Tivus, Inc.
Tivus, Inc. is a technology entertainment services company that provides internet-based TV and Cable programming, interactive game content, and goods & services to the hotel/hospitality industry. Using onsite hardware and software, including flat-screen HD televisions, Tivus' unique IPTV hotel entertainment system is a complete, multifaceted entertainment platform that, for the first time in the industry, generates previously untapped income to the hotel through ad revenue sharing. For more information, please visit www.tivus.com.
One of our most important responsibilities is to communicate with shareholders in an open and direct manner. Comments are based on current management expectations, and are considered "forward-looking statements," generally preceded by words such as "plans," "expects," "believes," "anticipates," or "intends." We cannot promise future returns. Our statements reflect our best judgment at the time they are issued, and we disclaim any obligation to update or alter forward-looking statements as the result of new information or future events. We urge investors to review the risks and uncertainties contained within its filings with the OTC Markets and/or Securities and Exchange Commission.
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