NOVI, Mich., Oct. 21, 2010 (GLOBE NEWSWIRE) -- Mount Knowledge Holdings, Inc. (OTCBB:MKHD) (the "Company"), an educational software development, sales and training company offering innovative and proprietary learning products and training services worldwide, today, announced that on October 19, 2010, it executed an non-binding Letter of Intent with IN Media Corporation ("InMedia"), an integrator of Internet Protocol Television (IPTV) services and content for major platform and service providers (e.g. cable, satellite, internet providers), for the development of certain co-marketing and/or product bundling opportunities in Asia.
Together, both Parties envision a variety of marketing, sales and distribution arrangements to; (a) provide value-added components to each others' respective products and services, (b) maximize existing and new jointly developed marketing and distribution channels, (c) enhance corporate and product branding, (d) increase overall revenue potential, and (e) create stronger company value for their respective shareholders.
"This is a tremendous opportunity for Mount Knowledge to expedite its B2C growth strategy throughout Asia," stated Daniel A. Carr, President and CEO of Mount Knowledge Holdings, Inc. "It offers us an economical way to showcase Mount Knowledge's learning software products to millions of eager consumers in Asia (China) through a co-marketing relationship with InMedia. We are excited about the prospect of bundling our learning software with InMedia's world-class media technology products and then launched through their established distribution network."
Preliminary discussions amongst the Parties include the integration of various web-based and mobile applications of the Company's "real-time self learning" software product (the "Knowledge Generator(TM)") into a variety of InMedia's products, including, but not limited to; (a) !ROFL (IPTV set to box) that allows consumers to view the internet and broadcast content effortlessly and seamless on any device, including USB supported video camera and phone to make calls via third party software, and (b) InMedia tablet PC which integrates all applications, media and content in a simple tablet interface using Google's Android 2.1 OS.
"We look forward to integrating Mount Knowledge's learning software into our devices," commented Dr. Nick Karnik, President and CEO of IN Media Corporation. "The synergies between our products will help make great strides in technology based learning systems. Since InMedia's tablet possesses forward facing cameras and Skype style video conferencing capabilities, language learners will be provided with a unique opportunity to not only absorb a language's rule sets but to apply them through direct interaction with native speakers online 24/7."
InMedia's current distribution network includes China, one of the largest markets in the world. Mount Knowledge Holdings plans to bundle their English learning software products, Knowledge Generator(TM), into each of InMedia's products that are offered and sold in China via their established distribution network of service providers and other wholesale/retail outlets.
A definitive purchase agreement between the parties is anticipated to be completed on or before December 31, 2010.However, to date no definitive agreement has been entered into by the parties and it is possible that the companies will not finalize such agreement.
About IN Media Corporation
IN Media Corporation is an integrator of Internet Protocol Television (IPTV) services and content for major platform and service providers (e.g. cable, satellite, internet providers). InMedia provides a combination of products and services: set-top box hardware and software services, manufacturing of the set-top boxes, library of content, and content aggregation for platform providers to implement an all-in-one solution for IPTV services.
About Mount Knowledge Holdings Inc.
Mount Knowledge Holdings, Inc. (OTCBB:MKHD) is an educational software development, sales and training company offering innovative and proprietary "real-time self learning" software products and teaching services for both corporate and direct consumer markets worldwide. The Company's technology stems from an interactive and visual learning system referred to as Syntality(TM), integrated into a core application known as The Knowledge Generator(TM) and is currently being offered in China to the more than 300 million students from grade school to university seeking to learn English, and a vast number of people in the Chinese workplace increasing their English fluency to achieve greater income earning potential.
Forward-Looking Statement Safe Harbor:
This press release contains forward-looking statements that are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. By their nature, forward-looking statements and forecasts involve risks and uncertainties because they relate to events and depend on circumstances that will occur in the near future. There are a number of factors that could cause actual results and developments to differ materially from forecasted results. These risks and uncertainties include our ability to: attract customers; successfully implement our current long-term growth strategy; as well as product demand, market competition, fluctuations in advertising payouts, reliance on credit card processors and related necessary merchant account approvals, delays in website & application development, technical issues beyond our control, reliance on the various platforms that we build applications on, and risks inherent in our operations. For a discussion of these risks and uncertainties, please see our filings with the Securities and Exchange Commission. Our public filings with the SEC are available from commercial document retrieval services and at the website maintained by the SEC at .
CONTACT: KCSA Strategic Communications Phil Carlson 212-896-1233 pcarlson@kcsa.com Marybeth Csaby 212-896-1276 mcsaby@kcsa.com Mount Knowledge Holdings, Inc. (248) 893-4538 (888) 682-3038 39555 Orchard Hill Place Suite 600 PMB 6096 Novi, Michigan 48375