IMTL and KODAKOne Complete Significant IP Transfer to Commence Revenue Generation Activities in $5M Strategic Partnership
SAN CLEMENTE, CA September 24, 2019 — OTC PR WIRE — Image Protect Inc. (OTC: IMTL) (imageprotect.com) (“Image Protect”, “IMTL”, or the “Company”), a global leader in the end-to-end copyright infringement sector, is excited to announce that major image rights enforcement activities have commenced in the Company’s strategic partnership agreement (the “Partnership”) with RYDE Holding (“RYDE”), the creator and operator of the KODAKOne Image Rights Management Platform, with the full large-batch transfer of 596,270 IMTL infringement claim-related files for processing on the KODAKOne Platform.
“The big point here is that our Image Rights Infringement segment is now active and on track to make a major contribution to revenue growth,” commented Matthew Goldman, CEO of Image Protect. “The successful navigation of this important step completes the process of pursuing hundreds of thousands of infringement claims through the KODAKOne platform. We can now begin a countdown to revenue given this milestone with the KODAKOne Partnership”.
Management notes that the initial batch of images for these claims were flagged by Image Protect’s proprietary market-leading back-end infringement identification platform. File transfer and integration into the KODAKOne Image Rights Management Platform was seamless, and processing of claims has already begun.
KODAKOne continues to assess the revenue potential of the infringement claims involved in the Partnership at $5 million. The Company anticipates revenues to be realized in Q1 2020.
“The process of transferring critical files for integration was without issue and further reinforces our confidence that the KODAKOne API technology is rock solid,” continued Mr. Goldman. “This effectively removes all remaining technical uncertainty and commences major revenue generation activity within the purview of this partnership.”
About Image Protect
Image Protect protects and monetizes creative works. By uniting technology with a team of copyright experts, we ensure that content providers preserve the value of their digital assets. Our web application monitors the global Internet to seek and collect evidence for illegally used visual content. Then our legal partners across North America, Europe, and Asia ensure our clients receive appropriate compensation for work used without valid license.
Safe Harbor Provision
Cautionary statement for purposes of the “Safe Harbor” provisions of the Private Securities Litigation Reform Act of 1995: Information in this news release contains forward-looking statements that involve risks, uncertainties and assumptions. If such risks or uncertainties materialize or such assumptions prove incorrect, the results of the Company and its consolidated subsidiaries could differ materially from those expressed or implied by such forward-looking statements and assumptions. All statements other than statements of historical fact are statements that could be deemed forward-looking statements. Risks, uncertainties and assumptions include the execution and performance of contracts by the Company and its customers, suppliers and partners. The Company disclaims any obligation to update or revise statements contained in this news release based on new information or otherwise.