"The Company was offered, through its owner, Mr Newton Suzuki a company named “Slim Pack”. A
newly commenced business which had promises of providing content to TV2U and its partners through
Mr Suzuki’s contacts in the content and media Industry (Band Tv2). The focus here was to be able to
provide an in-house content acquisition business with TV2U and Slimpack combining strategies and
strengths to become a one-stop-shop for OTT and content. Both companies agreed to sign a Letter of
Intent subject to a full due diligence by both parties on the respective companies. After completion of
due diligence, it was mutually agreed not to continue discussions.
During this time, one of our partners in the region, CCSTV a cable operator, transmitted services from a
premium content owner over our OTT platform, which they were not licensed to do. As such, TV2U took
immediate action to shut down all services until regulatory advice could be sought and rectified allowing
full transmission of services once again. This process has been long and complicated however the
Company is confident that the appropriate licensing and regulatory controls are now in place to ensure
full compliance with industry standards and local broadcasting authorities."
TV2 Price at posting:
0.9¢ Sentiment: Hold Disclosure: Held
