Provision Reports Company on Track with Current Operating Plan
Plans near-term announcement of second retail partner for 3D Savings Center kiosks
No business reason for high stock volume
CHATSWORTH, Calif., Nov. 22, 2016 (GLOBE NEWSWIRE) -- Provision Interactive Technologies, Inc. ("Provision"), a subsidiary of Provision Holding, Inc. (OTCQB:PVHO), announced today that, while there has been significant trading volume and volatility in the market for its common stock, the Company is reporting its business, sales efforts and new product launches are all strong and on track with its current business plan.
Provision expects to report revenue for the current quarter ending December 31, 2016, tied to the shipment and installation of the additional 200 3D Savings Center kiosks announced earlier this month. The Company also expects to announce the signing of a second retail customer contract within the next thirty (30) days. This would extend the depth and breadth of Provision’s 3D Savings Center kiosk network, making it even more appealing for major brand advertising.
As previously reported, Provision has completed a private placement funding of approximately $5 million of convertible debentures and warrants. The company is now filing the Form S-1 registration statement required for the transaction. Since these investors could have converted and sold their shares under Rule 144, this registration has no effect on the amount of stock that may be presently converted by Provision’s investors.
According to Curt Thornton, CEO and President of Provision Holding, Inc., “While the company does not have an explanation for the volume and volatility of its stock in the market, our focus remains clear: We continue to build the business with new retail customers while increasing advertising revenue from our 3D Savings Center kiosk network. If you look at PVHO approximately 1 year ago, we were a non-reporting pink sheet company, with few assets, beginning our Savings Center deployment. Today, we are a fully reporting company trading on the OTCQB market, with more than 500 3D Savings Center kiosks installed, a brisk expansion rate and cash to continue our operations. We’ve come a long way in the last year, and we are poised for significant growth in 2017.”
About Provision Interactive Technologies, Inc.
Provision Interactive Technologies, Inc., a subsidiary of the publicly traded company Provision Holding, Inc. (OTCQB:PVHO), is the leading purveyor of intelligent interactive 3D holographic display technologies, software, and integrated solutions for both commercial and consumer focused applications.
Provision's 3D holographic display systems represent a revolutionary technology that provides the projection of full color, high-resolution videos into space detached from the screen, without any special glasses. Provision is currently the market leader in true 3D consumer advertising display products being implemented by innovative, consumer-focused companies.
Provision Holding, Inc. (OTCQB:PVHO) trades on the OTCQB venture stage marketplace for early stage and developing U.S. and international companies. Companies are current in their reporting and undergo an annual verification and management certification process. Investors can find Real-Time quotes and market information for the company on www.otcmarkets.com.
For more information, visit www.provision.tv.
This press release contains projections of future results and other forward-looking statements that involve a number of risks and uncertainties. Important factors that may cause actual results and outcomes to differ materially from those contained in the projections and forward-looking statements included in this press release are described in our publicly filed reports. Factors that could cause these differences include, but are not limited to, the acceptance of our products, lack of revenue growth, failure to realize profitability, inability to raise capital and market conditions that negatively affect the market price of our common stock. The Company disclaims any responsibility to update any forward-looking statements unless legally required.
CONTACT Media Relations The Lexicomm Group Wendi Tush (212) 794-4531 Wendi@lexicommgroup.com
Released November 22, 2016