World News: 15:17 GMT Monday 20th March 2017. [WhereverTV Broadcasting Corporation via Globe Newswire via SPi World News]
FORT MYERS, Fla., March 20, 2017 (GLOBE NEWSWIRE) -- (OTC:TVTV), which delivers (OTT) subscription television services to a variety of devices including smartphones, TabletPCs, streaming media players, computers and connected TVs, announced today that it has strengthened its financial position and appointed Milo Seidl to the Board of Directors.
“In several moves aimed to position WhereverTV for what we believe will be a breakout year, we are strengthening the balance sheet, ramping up customer acquisition through strength of SEO and Social Media, expanding content & distribution, and initiating protection of our patented intellectual property,” said Edward D. Ciofani, CEO. “Over the course of the last two years, I, members of our Board and corporate team have been evaluating the OTT market and we feel that the business model we have been developing over the course of two years has put WhereverTV in a position to truly be a leader in this industry. Our decisions are not only demonstrating our confidence in our achievements to date, but represent the level of support and commitment from the board as to where we envision the company to be in the very near future,” he added.
In moves to strengthen the Company balance sheet and financial position, WhereverTV recently announced that Edward D. Ciofani, CEO & Chairman, has converted his 2015 accumulated debt financing to equity. In separate and unrelated moves, new Board Director Milo Seidl has invested $100,000.00 and opened a convertible line of credit for $400,000 with the company to be used for general corporate purposes. And separately, Gary McGuirk Sr., Director, has also established a convertible line of credit for the Company of $500,000 to be used for general corporate purposes.
Mr. Seidl is a successful businessman in Lee County, Florida. Having a demonstrated focus on developing innovation, marketing strategies, winning relationships, partners, team members, and clients, Mr. Seidl has developed multiple businesses and heads several organizations including President of Metro PSI, CEO of JDL Surface Innovations and President of Watertronics Field Council. Mr. Seidl is also a member of the Tony Robbins Platinum team participating in personal development seminars, and enriching the lives of others through contribution. For his full BIO, please visit .
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Globe Newswire: 15:17 GMT Monday 20th March 2017
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