Image Protects Inc (OTCMKTS:IMTL), which is involved in providing protection to creative work and helps in its monetization, recently made a major announcement with regards to its business model. The company combines the power of technology with the skills of its copyright expert’s team to protect content creators.
In this way, digital assets get the necessary protection from any kind of copyright infringements. In addition to that, Image Protect also operates its own web application that trawls the internet to find evidence of any copyright infringement of digital assets. In its announcement last week, the company announced that it executed the agreement by way of which it is going to complete the acquisition of OTCPR Wire.
OTCPR Wire is a microcap PR distributor and the acquisition marks a major shift in Image Protect’s model of conducting its business. The company also suggested that OTCPR Wire is also going to be a major constituent of its media strategy going forward.
After the acquisition is completed, OTCPR Wire is going to be redesigned for the purposes of Image Protect and will considerably upgrade its services in order to cater to Micro-Cap clients. Some of the services that are going to be provided include Quarterly Podcasts with regards to financial results and Annual meetings.
On the other hand, an electronic newsroom is also going to be created for the clients. It will help in bringing in more efficiency when it comes to the distribution of Press Releases and on top of that, it is also expected to considerably widen the distribution of press releases for the clients in question.
The acquisition is being completed by Image Protect entirely through restricted stock. The stock is going to be issued at the time of the closing of the deal. In the financial year 2020, OTCPR Wire managed to generate revenues of as much as $750,000 and it believes that business will increase now that the coronavirus pandemic is on the way out.
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