As Seen On TV, Inc. Executes Partnership with Paramount Digital Publishing
Financial Performance Minimums Set In Order to Maintain Exclusivity of $1 million to As Seen On TV, Inc. Over Initial 15 Months
$4.75 million to As Seen On TV, Inc. Over 3+ Years
CLEARWATER, Fla., June 25, 2012 /PRNewswire/ -- As Seen On TV, Inc. (OTCQB: ASTV), the parent company of TVGoods, Inc., a direct response marketing company, executed an agreement with Paramount Digital Publishing, LLC ("PDP") for the exclusive rights to use and display its proprietary trademarks, including Pitch Tank, names, images and likeness of its Chairman Kevin Harrington. PDP expects to initiate publishing and marketing of As Seen On TV, Inc. and Kevin Harrington materials immediately.
In order to maintain exclusivity, PDP must maintain certain minimum financial milestones to As Seen On TV, Inc. These minimum requirements are $1 million over the initial 15 months, $1.5 million over the subsequent 12 months and $2.25 million over the next subsequent 12 months. In aggregate, PDP must generate revenues to As Seen On TV, Inc. of $4.75 million over the next three years in order to maintain its exclusivity.
Kevin Harrington, Chairman of As Seen On TV, Inc., stated, "We are very excited to have partnered with DC Fawcett, the founder of PDP and his team. We are extremely confident in their abilities to monetize our proprietary trademarks, including Pitch Tank, and our education division. I personally look forward to the increased exposure and sharing my experiences with inventors and entrepreneurs for educational and business idea generation."
DC Fawcett, stated, "I am so excited that Kevin Harrington chose Paramount to be his exclusive publisher for his education division. We have big plans to change a lot of lives by giving entrepreneurs, inventors and anyone that wants to turn an idea into a business with the knowledge and the tools they need to succeed in this ever-changing landscape. We intend to leverage the extensive capacity of our team's Internet Marketing expertise to take our members ideas to the next level and meet the minimum financial milestones to maintain our exclusivity. We believe we can make the dreams of all entrepreneurs and inventors a reality through our online trainings, live seminars and workshops and mentorship programs."
Steve Rogai, CEO of As Seen On TV, Inc. stated, "It is very rewarding for the Company to attract such a partnership with PDP and have reached a stage where we are able to execute these types of deals with our intellectual assets. We have spent considerable time and effort over the past few years building up our proprietary trademarks. We have proven the concepts, like Pitch Tank, and now PDP is going to help us achieve scale and further monetize."
About Paramount Digital Publishing, LLC
Paramount Digital Publishing is a full service Internet publishing company that works with clients to publish their information through various marketing channels. PDP does all of the work for creating sales funnels and driving traffic and conversions.
About As Seen On TV, Inc.
As Seen On TV, Inc. is the parent company of TVGoods, Inc., a direct response marketing company. We identify, develop and market consumer products for global distribution via TV, Internet and retail channels. TVGoods was established by Kevin Harrington, a pioneer of direct response television. For more information go to www.TVGoodsInc.com and www.AsSeenOnTV.com.
Except for statements of historical fact, the matters discussed in this press release are forward-looking and made pursuant to the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995. "Forward-looking statements" describe future expectations, plans, results, or strategies and are generally preceded by words such as "future," "plan" or "planned," "expects," or "projected." These forward-looking statements reflect numerous assumptions and involve a variety of risks and uncertainties, many of which are beyond the company's control that may cause actual results to differ materially from stated expectations. These risk factors include, among others, limited operating history, difficulty in identifying and marketing products, intense competition and additional risks factors as discussed in reports filed by the company with the Securities and Exchange Commission, which are available at http://www.sec.gov.
Corporate Strategy & Development
SOURCE As Seen On TV, Inc.