ESPRE Solutions, Inc. (Pink Sheets:EPRT - News), a Dallas-based media solutions and technology company with a revolutionary and patented video compression technology, today announced that it has reached an agreement with its joint venture partner, StreamTraX Visual Communication Technologies, Inc., to fund ESPRE $15 million. The funding, sourced through StreamTraX, will be invested as equity into ESPRE Solutions over 5 consecutive quarters beginning Q4 (calendar) 2005.
In May of 2005, ESPRE Solutions and StreamTraX announced a joint venture partnership to focus on developing and marketing media distribution solutions to the entertainment and motion picture industries capitalizing on ESPRE's proprietary video CODEC compression technology and StreamTraX's proprietary Digital Rights Management (DRM) solutions. According to Pete Ianace, CEO of ESPRE Solutions, "The next logical step in our relationship with StreamTraX was this investment, enabling the joint venture to offer complete end-to-end IP-video solutions for the entertainment industry. Beyond ESPRE's 'best of breed' video solutions, the joint venture will be releasing 'first-to-market' solutions for the entertainment industry, providing novices as well as high-end production studios with the opportunity to distribute their content over the public Internet simply and securely. This investment allows ESPRE to place a high priority on this initiative and we expect to make a major announcement regarding our development of these solutions in the first quarter of 2006."
As stated in the May 2005 announcement, the joint venture partnership will directly target licensing agreements with major motion picture and other entertainment producers to deliver secure, controlled TV and DVD quality video content over standard consumer-grade broadband connections. In addition to this equity investment, StreamTraX will invest funds in the joint venture focused on integrating and customizing best in breed solutions that will round out a complete end to end network solution, and will incorporate StreamTraX's DRM System, thus providing the higher level of security, greater financial assurance and a wider customer acceptance model than any other similar methodology available today, all of which are essential to the entertainment industry. StreamTraX's DRM solutions use a proprietary algorithm which can support many different levels of security, with encryption key sizes ranging from 5,000- to over 136,000 bits. One of the greatest advantages is the fact that, instead of either trying to stop or severely limit people from copying files like the rest of the market, the StreamTraX protected files are designed to embrace the Napster(TM) model, promoting sharing and copying, while at the same time ensuring that enjoying the benefits of the music and videos requires first paying the rightful owners.
"This investment demonstrates our commitment to ESPRE Solutions and its award-winning IP-video solutions. Furthermore, this funding exemplifies our commitment to revolutionize IP-video distribution by creating our own video format which will be reminiscent of the revolution created by the introduction of the MP3 audio format," states Gary Carty, Chairman of StreamTraX Visual Communication Technologies, Inc.
About ESPRE Solutions, Inc.:
Plano, Texas-based ESPRE Solutions is a public company (OTC Pink Sheets: EPRT - News) and groundbreaking media collaboration solutions provider that fulfills the promise of TV-quality streaming video over the Internet--even at dial-up speeds as low as 28Kbps. ESPRE Solutions intends to be the video applications provider of choice for Internet Service Providers, Fortune 1000 corporations, and institutions worldwide, adding both narrowband and broadband video to traditional voice and data applications. ESPRE Solutions' eView product suite provides an integrated solution for business and personal communications. To learn more about ESPRE Solutions, or to experience the company's pioneering eView technology, visit www.espresolutions.com.
About StreamTraX Visual Communication Technologies, Inc.
Wichita, Kansas-based StreamTraX Visual Communications Technologies, Inc. is a privately held media distribution and communications corporation with a specific focus on Digital Rights Management (DRM) products and Enhanced Video "Content" products. With these copyright protection and video delivery products, the company is boldly claiming it has the answer to the piracy problems, which are plaguing the entertainment industry and the key to the profitability problems, which are troubling media distribution companies and Internet Service Providers worldwide.
Forward-looking statements made in this release are made pursuant to the "safe harbor" provision of the Private Securities Reform Act of 1995. Forward-looking statements made by ESPRE Solutions, Inc. are not a guarantee of future performance.
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Patty Handschiegel, 818-206-0475
ESPRE Solutions, Inc. (EPRT) Receives $15 Million Strategic Investment from Joint Venture Partner St
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