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DoMark International Inc. Company Update(January 30, 2014)
TORONTO, Jan. 30, 2014 (GLOBE NEWSWIRE) -- DoMark International Inc. (OTCQB :DOMK), a leading smartphone, tablet, gaming accessories and technology company, is pleased to provide an update and review of the Company's operations.
Management has spent 2013 purchasing and investing in companies and products that will be brought to market in 2014. DoMark now has a family of products to be launched this year that the Directors believe have the potential to return significant revenues to the Company. Compliance wise, all financials and SEC filings are fully compliant and the Board believes the overall corporate outlook is now looking extremely positive.
Corporate Vision Statement
As previously stated, DoMark's focus is to operate as a consumer electronics and technology company in areas with the following criteria:
Patented or patent pending technology or products;
Companies that own "game changing" technology/products in their respective fields;
Products with mass-market consumer appeal and significant profit margins that are easily scalable;
Products that can be managed and sold through our established operations; and
Products typically focused on the smartphone and video gaming accessories market.
IRcharger/Power+ (Ownership 100%) - The InfraSol lightweight smartphone charger cases for Samsung Galaxy SIII, S4 and Apple iPhones have been ordered from our manufacturer and we are awaiting delivery. This product was slightly delayed due to our global consumer electronics distributor requiring a redesign to the product packaging. This has now been completed to their requirements and negotiations for signing a global distribution agreement for a minimum order of 2.4M units per annum are now on track with our preferred wholesale worldwide distributor. This product will retail for US$59.99, which is well priced against our competitors, particularly considering our unique technology and design. This product will be available very shortly in retail outlets and online.
SmartLink (Ownership 40%) - SmartLink allows smartphones and tablets to wirelessly connect movies or games from the smartphone or tablet to a television set with 100% instant reproduction without any diminished quality or speed or response, making it an essential accessory to movie fans and gaming enthusiasts. The extremely high level of quality markedly differentiates the SmartLink product against its rivals such as the Google Chrome Dongle which failed expectations due to its lack of instant response and reproduction quality. I am therefore delighted to report that SmartLink was launched to excellent reviews at the CES Expo last month in Las Vegas. Product design and packaging is now being slightly modified with the product being targeted for general release at the end of March 2014.
Imagic Printer (Ownership 40%) - This ground breaking wireless photographic printer uniquely does away with the need to separately purchase ink, dyes and paper, replacing them with an easily loaded cartridge that contains inkless paper. Users can print up to 24 postcard sized photographs in high resolution from their smartphone, tablet or digital camera immediately at any time and place without the need to route the printing through a PC or desktop printer or use a professional printing service. The aim is to bring this product to market in the 2nd Quarter of 2014.
Zaktek Product (Ownership 20%) - The PhonePad+ product, which allows a smartphone to be converted into a tablet, was launched at the end of 2013 by the UK's largest mobile retail store chain. Initially for use with Samsung mobile phones (www.phonepadplus.com), sales so far have been disappointing. As a result, given the limited equity stake in the product, DoMark has taken the decision not to invest further in this area.
Monetizer 101 Online Shopping Solution (Ownership 100%, North American Distribution Rights) – As announced on 28 January, Monetizer 101 is a unique proprietary technology that collaborates media owners, retailers and consumers into an online discount shopping solution where everyone benefits. Unlike other online shopping platforms currently available, Monetizer 101 is a free advertising model for moving discounted inventory for retailers where they only pay commission for products sold. Media owners will be paid for driving traffic to retailers, retailers receive new revenue streams and increased page views on their own websites and consumers receive a wide variety of brand name products at heavily discounted prices. The Canadian site is expected to be launched within the next two months with the United States site to follow shortly thereafter. DoMark will add a small team to manage this operation. Management believes Monetizer has the potential to generate significant revenues with minimal investment – and without disrupting the North American online retail market - given the success to date of the platform in Europe. It also gives the Company its own additional sales platform through which to sell our products. Indeed, the Directors believe Monetizer 101 is a natural extension to the Company's product portfolio, it having the potential to significantly enhance a user's online retail experience while being highly scaleable.
Barefoot Science Shoe Insole Products (Ownership 15%) - DoMark is an investor and not actively involved with the marketing or sales of this patented, FDA approved product that improves the problems associated with tired sore feet, flat feet, corns, bunions, planar fasciitis, calluses and individuals struggling with diabetes. Barefoot Science was restructured by its management last year and is making steady progress. Even though this company has the potential to make significant returns to DoMark, it is not seen as one of our core products and therefore no further investment will be made in this area.
DoMark has streamlined operations with three full time experienced executives. All other requirements are outsourced. DoMark has built an impressive team of consultants and advisors to help us achieve our corporate goals. Contracts are currently in place with our marketing and business development partner, Acumen Media Partners and Havas Wordwide; our public relations advisor, GTH (London); online and direct marketing sales specialist, Combat Labs; SEC Attorney at Law Samuel Whitley; auditor DBS Associates of New York and branding and packaging specialist Brandworx. This line-up of expertise is designed to minimize operation costs and maximize corporate efficiency.
The Company has spent the last year and half restructuring all debt obligations and is completely up to date on its SEC filings. Even though the Company has made substantial strategic investments, we are pleased to report that the corporate debt is minimal at approximately US$600k. The Company is well positioned for excellent returns to our investors in 2014 via products that we have invested in. The Company also has the benefit of a US$44m tax loss carry forward which will maximize our investors return over the next year. The burn rate is presently minimal and we are well positioned to deal with any future obligations. The Company's long term strategy is to move the listing from the OTC.QB to the NASDAQ and the necessary steps are being taken to enable this happen in due course.
Management understands and is acutely sensitive to the fact that investors have not seen a good return on their investment over the last year during the restructuring and repositioning of the Company. However, as a result of the hard work and endeavor of the management team, we believe DoMark is now on solid footing and in a position where it can begin to deliver profitable growth. Thank you for your patience and support as we enter a very exciting and profitable new chapter for the Company.
President & Chief Executive Officer
About DoMark International Inc.
DoMark International Inc. is a fully compliant SEC reporting publicly traded consumer electronics company listed on the regulated US OTC Bulletin Board under the symbol DOMK. The Company works with inventors, manufacturers, distributors and retailers to bring to market globally innovative new smartphone and tablet accessories as well as online services that can significantly enhance the usage or user experience of a device or medium. Its products are designed to be compatible with all major smartphone and tablet device manufacturers including but not limited to Apple Inc., Samsung, Logitech and Quantum International. Technology development companies in which DoMark has partnered include Solawerks Inc., Imagic Ltd., Zaktek Ltd. and Barefoot Science. For more information on DoMark and its products, please visit www.domarkintl.com. Important Safe Harbour disclaimer information is available at the following link: www.domarkintl.com
CONTACT: North America: DoMark International Ltd.
Andrew Ritchie (+1-416-400-4421)
Europe: GTH Communications Limited
Toby Hall (+44 20 7822 7493)
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