Consorteum Holdings Files Form 10-K Report With the Securities and
TORONTO -- (Marketwire) -- 11/14/12 -- Consorteum Holdings Inc.
(OTCQB: CSRH) is pleased to announce that it filed its Report on Form
10-K for the fiscal year ended June 30, 2012, with the Securities and
Exchange Commission and resumed its status as an issuer quoted on the
As part of the process of completing the required work for the 10-K
Report, the Company and some of its affiliates entered into a
settlement agreement with its former CEO and Chairman of its Board of
Directors. The settlement agreement was filed as an exhibit to the
Form 10-K Report. Subsequent to the execution of the Settlement
Agreement, the Company and its former CEO executed and delivered to
each other general releases.
As a result of Mr. Fielding's resumption of his roles as Chairman and
CEO, the Company has redirected its energies on promising
opportunities for the remainder of 2012 and beyond. Consorteum
Holdings is very focused on executing processing and transaction
management initiatives both in North America and in new overseas
markets. The Company will leverage its existing relationships with
various casinos and resorts throughout North America and also focus
on mobile gaming and wagering transactions.
"This is an exciting time for the world of mobile digital media as
state and local governments are looking for creative alternatives to
raise revenue. Mobile gaming is one possible revenue enhancer," said
Craig Fielding, CEO of Consorteum Holdings. "We remain focused on our
traditional transaction management, technology and card businesses.
Now with the addition of new opportunities utilizing our mobile
gaming platform, we are ideally positioned to step into new markets
in a meaningful way."
"I am optimistic that we can demonstrate to our shareholders that the
past year of establishing key relationships across multiple verticals
in the financial transaction processing and gaming businesses will
translate into revenue opportunities for the Company," added Mr.
Fielding. "In the next several months we intend to launch new
projects that are in the final stages of planning and will soon be
ready for announcement. We also intend to continue our efforts to
build a strong manageme
nt team, Board of Directors and relationships
with new partners."
Consorteum is a transaction management and mobile publishing company
focused on financial transaction processing, including its suite of
mobile offerings, delivery of mobile content, mobile payments
solutions and related products through a mix of on-deck partnerships,
license agreements and joint venture revenue sharing arrangements. It
operates as a technology and services aggregator to meet the diverse
needs of its client base by leveraging a wide range of products and
services to develop end-to-end, turnkey card and payment transaction
processing solutions. The Company has extensive expertise within the
payments and transaction industry in North America and
For more information about the Company, please visit:
Forward Looking Statements
Certain statements set forth in this press release constitute
"forward-looking statements." Forward-looking statements include,
without limitation, any statement that may predict, forecast,
indicate, or imply future results, performance or achievements, and
may contain the words "estimate," "project," "intend," "forecast,"
"anticipate," "plan," "planning," "expect," "believe," "will likely,"
"should," "could," "would," "may" or words or expressions of similar
meaning. Such statements are not guarantees of future performance and
are subject to risks and uncertainties that could cause the company's
actual results and financial position to differ materially from those
included within the forward-looking statements. Forward-looking
statements involve risks and uncertainties, including those relating
to the Company's ability to grow its business. Actual results may
differ materially from the results predicted and reported results
should not be considered as an indication of future performance. The
potential risks and uncertainties include, among others, the
Company's limited operating history, the limited financial resources,
the need to raise additional funding in amounts sufficient to support
the Company's initiatives, domestic or global economic conditions,
activities of competitors and the presence of new or additional
competition, and changes in Federal or State laws. More information
about the potential factors that could affect the Company's business
and financial results is included in the Company's filings, available
via the United States Securities and Exchange Commission.
Chief Operating Officer
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