NOVI, Mich. , Oct. 21, 2010 (GLOBE NEWSWIRE) — Mount Knowledge Holdings, Inc. (OTCBB:MKHD) (the “Company”), an educational software development, sales and training company offering innovative and proprietary learning products and training services worldwide, today, announced that on October 19, 2010 , it executed an non-binding Letter of Intent with IN Media Corporation (“InMedia”), an integrator of Internet Protocol Television (IPTV) services and content for major platform and service providers (e.g. cable, satellite, internet providers), for the development of certain co-marketing and/or product bundling opportunities in Asia .
Together, both Parties envision a variety of marketing, sales and distribution arrangements to; (a) provide value-added components to each others’ respective products and services, (b) maximize existing and new jointly developed marketing and distribution channels, (c) enhance corporate and product branding, (d) increase overall revenue potential, and (e) create stronger company value for their respective shareholders.
“This is a tremendous opportunity for Mount Knowledge to expedite its B2C growth strategy throughout Asia,” stated Daniel A. Carr , President and CEO of Mount Knowledge Holdings, Inc. “It offers us an economical way to showcase Mount Knowledge’s learning software products to millions of eager consumers in Asia (China) through a co-marketing relationship with InMedia. We are excited about the prospect of bundling our learning software with InMedia’s world-class media technology products and then launched through their established distribution network.”
Preliminary discussions amongst the Parties include the integration of various web-based and mobile applications of the Company’s “real-time self learning” software product (the “Knowledge Generator(TM)”) into a variety of InMedia’s products, including, but not limited to; (a) !ROFL (IPTV set to box) that allows consumers to view the internet and broadcast content effortlessly and seamless on any device, including USB supported video camera and phone to make calls via third party software, and (b) InMedia tablet PC which integrates all applications, media and content in a simple tablet interface using Google’s Android 2.1 OS.
“We look forward to integrating Mount Knowledge’s learning software into our devices,” commented Dr. Nick Karnik , President and CEO of IN Media Corporation . “The synergies between our products will help make great strides in technology based learning systems.Since InMedia’s tablet possesses forward facing cameras and Skype stylevideo conferencing capabilities, language learners will be provided with a unique opportunityto not only absorb a language’s rule sets but to apply them through directinteraction with native speakers online 24/7.”
InMedia’s current distribution network includes China, one of the largest markets in the world. Mount Knowledge Holdings plans to bundle their English learning software products, Knowledge Generator(TM), into each of InMedia’s products that are offered and sold in China via their established distribution network of service providers and other wholesale/retail outlets.
A definitive purchase agreement between the parties is anticipated to be completed on or before December 31 , 2010.However, to date no definitive agreement has been entered into by the parties and it is possible that the companies will not finalize such agreement.
About IN Media Corporation
IN Media Corporation is an integrator of Internet Protocol Television (IPTV) services and content for major platform and service providers (e.g. cable, satellite, internet providers). InMedia provides a combination of products and services: set-top box hardware and software services, manufacturing of the set-top boxes, library of content, and content aggregation for platform providers to implement an all-in-one solution for IPTV services.
About Mount Knowledge Holdings Inc.
Mount Knowledge Holdings, Inc. (OTCBB:MKHD) is an educational software development, sales and training company offering innovative and proprietary “real-time self learning” software products and teaching services for both corporate and direct consumer markets worldwide.The Company’s technology stems from an interactive and visual learning system referred to as Syntality(TM), integrated into a core application known as The Knowledge Generator(TM) and is currently being offered in China to the more than 300 million students from grade school to university seeking to learn English, and a vast number of people in the Chinese workplace increasing their English fluency to achieve greater income earning potential.