OMAHA, Neb., Aug. 4, 2011 /PRNewswire/ -- TiVUS, Inc. (PINKSHEETS: TIVU) today announced its intention to quickly attain fully reporting status; the Company has augmented its accounting resources adding a Certified Public Accountant (CPA) as further back-office support.
"At present, we have both the audit proper and the preparation of the second quarter financials, due later this month, underway in earnest," commented Shiva Prakash, TiVUS' president and chief executive officer. "As TiVUS has grown since beginning operations one year ago this month, so have the demands of our administrative responsibilities.
"I am pleased to welcome James 'Jimmie' Carter, CPA, to our back-office accounting operations. Jimmie comes well-recommended, and will help ensure TiVUS maintains timely regulatory compliance and meet SEC filing requirements.
"In preparation for TiVUS' up-listing, last August I directed Steve Haag, our Company administrator and investor relations contact, to complete the necessary steps to qualify for a SEC regulated trading platform. Since then, he and his team have successfully brought the Company's financials up to full GAAP compliance, ensured shareholders have access to accurate, transparent filings, designed an internal controls plan, and are currently managing both a two year audit and second quarter filing. Upon completion of this initiative, I have already given the directive to begin Sarbanes-Oxley compliance activities.
"I arrived in Salt Lake City, Utah, yesterday from Las Vegas, Nevada, where I wrapped up two solid days of sales meetings. I have more meetings here in Salt Lake planned with Mr. Phil Marriott, and others, working to satisfy the enormous amount of site visit requests received from a recent trade show; all wanting to learn more about the future of free-to-guest, ad-supported, revenue sharing hotel entertainment," Prakash concluded.
About TiVUS, Inc.
TiVUS, Inc. is a technology entertainment services company providing Internet-based TV and Cable programming, interactive game content, and goods & 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 the hotel through ad-revenue sharing. For more information, please visit www.TiVUS.com and www.TiVUSconnect.com, or check us out on www.facebook.com/TiVUSConnect or www.twitter.com/TiVUSInc.
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. 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 United States Securities & Exchange Commission.
SOURCE TiVUS, Inc.