Published:
Rosca Enters into LOI for Acquisition of Secure Path Technology, LLC
SAN DIEGO - (BUSINESS WIRE) - Rosca, Inc., a Nevada corporation (OTCBB: RSCA) (the "Company" ), entered
into a Letter of Intent (the "LOI" ) with the members of Secure Path
Technology LLC ("Secure Path" ) for the acquisition by the Company
of 100% of the outstanding membership interests in Secure Path, in
exchange for Four Million Five Hundred Thousand (4,500,000) shares of
the Company's common stock.
Secure Path is a major Registration Agency for the International
Standard Audiovisual Number ("ISAN" ) in North America and is the
exclusive global Licensing Agency providing commercial access to the
ISAN database.
ISAN is an ISO (International Standards Organization) standard which
provides a unique, permanent and internationally recognized reference
number for the identification of every audiovisual work, including film,
television, online and mobile content, regardless of the format in which
the work is distributed (e.g. theatrical, DVD, streaming media). The
ISAN code was developed to be the identifier for the audiovisual (AV)
industry's supply chain, just as the ISBN code is the unique identifier
for publications and the foundation for all tracking (e.g. distribution,
inventory, royalties) for the global publishing industry.
The ISAN standard was initiated in order to make more efficient the
process of identifying audiovisual works, and significantly enhance
their ability to collect, distribute and/or receive royalties and
residuals.
Secure Path holds two seats on the 12 member Administration Committee
which oversees ISAN-IA, with responsibilities including budget, policy
and the approval of new Registration Agencies. Secure Path also holds
one seat on the three-member Executive Committee, which has direct
oversight of ISAN International Agency's personnel. This new governance
structure ensures that Secure Path will be integrally involved in
guiding the development of the standard in a way that is amenable to the
markets the Company serves, and commercially viable.
NOTE: The information contained in this press release contains forward
looking statements which are based on the current expectations of the
management of Rosca, Inc. only, and actual results may differ
materially. For a more detailed discussion of risks and other factors
related to Rosca, Inc., please refer to its Form 10-K and Form 10-Q
reports, as filed with the U.S. Securities and Exchange Commission.
For Rosca, Inc.
Brian Weiss
949-933-7011
bweiss@bswassociates.com
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