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EXHIBIT 99.1
Contact:
Mintie Das
Investor Relations
webADTV.com
612.925.8895
[email protected]
For Immediate Release
WEBADTV.COM ANNOUNCES LETTER OF INTENT TO ACQUIRE COSMIC INVENTIONS
Acquisition to Enhance webADTV's Online Digital Suite of Tools for the
Advertising Industry
MINNEAPOLIS, JUNE 22, 2000--webADTV.com(sm), Inc. ("webADTV"), a
subsidiary of iNTELEFILM(sm) (Nasdaq: FILM) announced today that it has signed a
letter of intent to acquire Cosmic Inventions LLC, creators of revolutionary
product Spot Rocket and Digiexpress.
webADTV anticipates the acquisition of Cosmic Inventions, a subsidiary
of Post Production Services ("PPS") to be consummated in July 2000.
Spot Rocket, the leading product designed by Cosmic Inventions
facilitates the transmittal of approval quality video, CD-quality audio tracks,
animatics, photographs, story boards, animations and various multimedia
components. By using Spot Rocket's innovative technology, creative teams are
able to make on-the-spot decisions and "rocket" them to and from destinations
utilizing a computer, MPEG compression technology, ISDN phone lines and standard
video equipment resulting in efficiency and elimination of costly production
errors, travel expenses and last minute revisions.
Cosmic Inventions most recent development is Digiexpress, the sister
solution to Spot Rocket. Digiexpress is an interpreter program also known as a
wraparound FTP based application enabling simplified delivery and receiving of
large files via standard e-mail addressing.
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"We are pleased to be in a position to capitalize on acquisition
opportunities such as this with Cosmic Inventions," said webADTV Chief Executive
Officer and President James G. Gilbertson. "We have been working with them for a
period of time and are excited to bring them into our webADTV family. Cosmic
Inventions is a creative leader in designing resourceful products that push the
limits of today's technology. We continue to look for growth opportunities that
expand upon our commitment to creating an online digital suite of tools that
service the needs of the advertising agency industry."
ABOUT WEBADTV.COM
webADTV is the online digital suite of tools that will web enable all aspects of
the global advertising process from conception of the media campaign,
production, placement and fulfillment. By providing a series of productivity
features and a wide array of e-commerce solutions designed for transactions
within the advertising community, webADTV will enhance and streamline the
business process for advertising agencies and their clients. webADTV intends to
seek additional acquisitions in connection with its online digital suite of
tools.
ABOUT PPS
PPS, Inc., founded in 1981, is a full service digital communications company
providing a comprehensive range of support for the telecommunications industry
including High Definition television production and post production, film to
tape transfer and color correction, editorial, graphics, animation, and all
aspects of new media production. For more information about PPS, Inc., contact
David Phillippi, (513) 621-6677, [email protected] or via the web at
www.pps-inc.com.
Certain statements made in this press release of a non-historical nature
constitute "forward looking statements" within the meaning of the Private
Securities Litigation Reform Act of 1985. Such forward-looking statements are
subject to certain risks and uncertainties that could cause actual results to
differ materially from those anticipated. Such factors include, but are not
limited to, changes in economic conditions and the risks and uncertainties
described in the Company's Form 10KSB Report as filed for year ended December
31, 1999 with the Securities and Exchange Commission.
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