Nashville Records (Pink Sheets: NSHV) today updated its shareholders on the company’s TriMark technology, designed to prevent piracy of illegally downloaded music and movies. The technology allows TriMark to conduct business with customers around the world without strict regulations – something the company says is a “desperately needed service”, creating a “tremendous business opportunity for Nashville Records and its shareholders”.
In the press release, Gene Sibbett, president of Nashville Records said previous meetings with prospective investors went well and that the company is finalizing details. One requirement is that TriMark be spun off from Nashville Records as its own company, advancing to the Bulletin Boards from the Pink Sheets.
“While working to accommodate this request TriMark assures NSHV and its shareholders maintain ownership in this asset, by providing shares via a stock dividend once formal terms have been completed. When final agreements are reached we will notify our shareholders and submit the appropriate SEC documentation,” Sibbett stated.
Sibbett said the company has received three support letters for the TriMar process; one of them from a publishing company, and two from record labels. He also informed shareholders of new additions to its investor relations, technical and management teams, and the recruitment of a new publicist.
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