Triton to License Privileged, Inc. Technology; Expects $2 Million in Royalty Fees
TIBURON, CA--(Marketwire - May 17, 2012) - Triton Distribution Systems, Inc. (PINKSHEETS: TTDZ) announced today that the Company will license its proprietary Travel Reservation System's technology: "Reservation Expert System™" (RES), to Privileged, Inc. for an initial annual royalty of $2 Million. The license agreement will be initially valid for two years and thereafter it will be renegotiated annually based upon customary performance clauses.
Triton has appointed a separate management team to operate Privileged, Inc., under a strategy of specifically conceived plans that have been established by Triton's management.
Triton is currently planning to file a Registration statement with the Securities and Exchange Commission to take Privileged, Inc. public as soon as reasonably practical and plans to accommodate all Triton shareholders upon successful execution accordingly.
The Company is in preparations to announce, in the very near future, several operational and organizational solutions that will identify and set Privileged, Inc. apart from the competition and on the path to success.
FORWARD-LOOKING STATEMENTS
This news release includes forward-looking statements. While these statements are made to convey to the public the company's progress, business opportunities and growth prospects, readers are cautioned that such forward-looking statements represent management's opinion. The company's operations and business prospects are always subject to risk and uncertainties.
http://www.marketwire.com/press-release/...inksheets-ttdz-1658525.htm
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