ATVG plans to sell licenses for third parties to use P Phone, PIMIE, and Globstream mobile technologies.
ATVG (to be renamed "ET Digital") currently owns the P Phone and PIMIE mobile technologies, as well as the rights to a Jiangxi based wireless mobile minutes top-up business (see company SEC fillings on 2008.
ATVG plans to leverage its P Phone and PIMIE technologies by selling
Under the expected terms of the third-party licensing agreements, ATVG would receive cash payments as well as proprietary rights to the user database information generated by the user communities.
CECU's cash flow problems are being resolved and ATVG expects CECU to be able to assume operational control of the business sometime in Quarter 3 or 4 2009.
ATVG (to be renamed "ET Digital") is currently a convertible notes holder in Globstream Technology, Inc.
ATVG plans to license the software to third parties in exchange for cash payments and proprietary rights to the user databases of its client content providers.
As part of the agreement, Her Village will grant to ATVG several marketing rights and assets free of charge, including:
ATVG plans to use the investment proceeds to finance the expansion of its mobile top-up operations in Jiangxi Province and for other working capital purposes.
ATVG and Her Village have further agreed to establish a joint venture to develop targeted shopping products-tentatively branded as "HV Mobi PINK" products -- for urban female consumers in China.