Today, RTG Ventures, Inc. (OTCBB: RTGV) files an 8K-A containing its consolidated financial statements to May 2010. This completes the acquisitions made through the Share Exchange Agreement with RTG Ventures (Europe) Ltd, which was formerly called Cloud Channel Ltd. The audited financials of RTG (Europe) Ltd will be included in all future 10-K and 10-Q reports. The Company will file its annual 10-K, required under the Securities Exchange Act of 1934, for the fiscal year ending August 31, 2010, by November 30, 2010. Highlights of the RTG Ventures (Europe) Ltd's consolidated financials include revenues of $1,657,652 and gross profit of $688,679 to May 31, 2010. The filing will be available on Edgar and www.rtgventures.com (http://www.rtgventures.com/) once it has been filed with the SEC.
Dominic Hawes-Fairley, CEO & President, said: "We regard filing the audited financials as a huge milestone in our development because we've now officially integrated three companies into the RTG Ventures Group. Over the next few weeks, we're going to rename our two key operating companies RTG Media Systems and RTG Payment Systems and spin Bitemark's product development and manufacturing division into a separate company, RTG Manufacturing. This will allow us to provide integrated, turnkey solutions to customers under a unified brand. Bitemark's wholesale and logistics division will be bolstered with the acquisition of a franchiseable retail operation, which has already been agreed, and this company will assume responsibility for extending RTG's logistics capabilities.
"Digital Clarity continues to exceed its forecasts, both top and bottom line, and is a real rising star for the Group. There's no hotter business sector than social media right now and the team at Digital Clarity is at the forefront of social media marketing. Ideally, we'd like to accelerate Digital's growth with an acquisition in the next 12 months."
Revenues to July 31, 2010 are approximately $2,000,000 subject to exchange rate fluctuation, and within 12 months the company is forecasting annualized revenues from organic growth of around $8,000,000 as its core technologies come online. RTG Ventures' joint-ventured payment systems business, to be called RTG Payment Systems, launched at the end of May 2010 and its first products have now entered testing prior to a full market release. Stephan Meloy-Antebi, RTG Ventures, Inc.'s Director of Business Development, has been evaluating business cases for the roll out of the RTG Payment Systems technology.
Meloy-Antebi said: "As well as providing an embedded payment mechanism for RTG Media Systems, we've been identifying additional niche markets to speed adoption of the technology. There are many companies operating in the wireless payment space, but our model will offer a creative and unique solution, one with much bigger benefits to small business and live events alike. We will be able to deliver a full service, integrated payment solution to these markets with media, payment, merchandising, marketing and distribution services all supplied as a turnkey solution."
With the first three companies now integrated, RTG Ventures is seeking further acquisitions to speed its development and accelerate revenue growth.
Hawes-Fairley concluded: "We have a competitive business plan which will be further enhanced by acquiring additional talent and technology to expand market share. Future acquisitions will not be restricted to the United Kingdom because our market is global. While the UK is a great testing ground for us, our growth path dictates that we operate internationally and look for the best commercial opportunities and brightest talent wherever they are."
About RTG Ventures, Inc.RTG Ventures, Inc. is a NASDAQ BB listed company (OTCBB: RTGV) offering a turnkey media monetization solution to rights owners of music video content. At the heart of RTGV's total product offering is a Monetization Platform which allows rights owners to define and tag media content in detail, set and enforce rights management and distribution rules, receive payment on distribution and obtain detailed analytics in real time.
RTG Ventures is organized as three divisions; Media Systems, Payment Systems and Software and Services, each of which contains both wholly-owned companies and joint ventures with independent business plans, strategies and management. In addition to servicing their discrete markets, these companies all contribute to RTG Venture's total product offering for media rights owners.
Safe Harbor ProvisionsThe foregoing contains certain predictive statements that relate to future events or future business and financial performance. Such statements can only be predictions, and the actual events or results may differ from those discussed due to, among other things, those risks described in RTGV's reports filed with the SEC. Opinions expressed herein are subject to change without notice. This document is published solely for information purposes, and is not to be construed as an offer to sell or the solicitation of an offer to buy any securities in any state. Past performance does not guarantee future performance. Additional information is available upon request.