OMAHA, Neb., Sept. 6, 2012 /PRNewswire/ -- TiVUS, Inc. (OTCPK: TIVU.PK) a provider of turnkey hotel technology IPTV solution platforms, today announced that it has secured directors and officers insurance from a top tier insurance provider in anticipation of assembling a new board of directors.
Over the last several weeks TiVUS has been diligently catching up on and filing certain quarterly and annual financial reports in anticipation of an eventual up-listing to a larger market tier such as the OTC Bulletin Board. It has also been laying the ground work to obtain D&O insurance which is crucial to attract the kind of talent TiVUS wants to bring to the table and which is currently in place..
"This is not our first step but rather our third in a five step process to build TiVUS into the leading hotel IPTV technology solutions provider," commented Shiva Prakash, CEO. "Our first step was to identify hotel technology industry veterans and senior executives and get them to join the team as we did earlier this year when we announced our new executive team members. Immediately our Executive team members, presence had an impact on TiVUS and we knew it was time to get directors and officers insurance to attract similar like minded leaders to the TiVUS team. We obtained D&O insurance this week from a top provider and are now ready to move on to step three by appointing certain leaders to the Board of Directors," Mr. Prakash continued. "Steps four and five have been underway for quite some time but in short they entail partnering with and signing larger content providers that already have massive and strategic footprints within the hotel technology industry. While we cannot yet talk about specifics it is important to point out that we would not have executed on steps one through three if we did not feel very confident in executing the rest of our game plan," Mr. Prakash concluded.
Over the next few weeks TiVUS, Inc. management intendeds to announce to the public certain board members as they merge and intends to communicate more effectively with the public about the major steps it is taking to revolutionize the hotel technology IPTV industry.
For more information on TiVUS and the company's plans for growth in Asia, keep connected at www.TiVUS.com
About TiVUS, Inc.
TiVUS, Inc. is a hotel technology entertainment services company providing internet-based TV and cable programming, interactive game content as well as other goods and services to the hotel/hospitality industry. TiVUS' unique HD IPTV system is a complete hotel entertainment platform that, for the first time in the industry, generates previously untapped income for hotels through ad revenue sharing.
Media Contact: Shiva Prakash, investorrelations@TiVUS.com, 402.507.5076.
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 forward-looking statements as the result of new information or future events. We urge investors to review the risks and uncertainties within its filings with the OTC Markets and/or Securities and Exchange Commission.
SOURCE TiVUS, Inc.