SANTA MONICA, Calif., Jan. 14, 2005 (PRIMEZONE) -- Digsound Inc. (Pink Sheets:DGSU) a music rights verification, distribution and reporting company to the T.V and cable broadcast industries, is pleased to announce the appointment of Kevin D. DeMeritt as interim COO and V.P Marketing.
DeMeritt is the founder of Lear Financial, a precious metals investment firm. With DeMeritt's leadership Lear rose from a start-up seven years ago to revenues of over $50 million a year today. In addition, DeMeritt is part owner of WebDirectAdvertising.com, an Internet direct marketing firm and software development co.
Paul Martin, President and Founder of Digsound commented, "Kevin's ability to help direct new companies and identify profitable opportunities, coupled with his keen insight on conquering inefficient markets is invaluable to Digsound's development."
Demeritt will oversee day-to-day operations until the company announces a full time COO. In the interim, he will be heavily involved in the decisions surrounding Digsound's Internet platform development and marketing strategies and ultimately taking it to launch.
Using cutting-edge technologies, Digsound's goal is to create a platform that allows music providers an on-line interface enabling more efficient methods for reporting and monitoring content usage. The market for Digsound's product is estimated at $500 million for television in the U.S. alone. In addition, the Digsound platform will provide broadcasters who currently use outdated industry procedures the ability to automate and manage this process.
Martin, who has been licensing this type of music to broadcasters for over ten years stated, "We have found an exciting niche market that is ready for change."
Digsound is currently in negotiations with a leading technology company to provide the backbone for the Digsound platform.
"Safe-Harbor" Statement
This press release contains forward-looking information within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), including statements regarding potential sales, the success of the Company's business, as well as statements that include the word "believe" or similar expressions. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of Digsound Inc. to differ materially from those implied or expressed by such forward-looking statements. This press release speaks as of the date first set forth above and Digsound Inc. assumes no responsibility to update the information included herein for events occurring after the date hereof. Actual results could differ materially from those anticipated due to factors such as the lack of capital, timely development of products and or services, inability to deliver products and or services when ordered and an inability of potential customers to pay for ordered products and or services.