CableClix (USA), Inc. (OTCPK:CCLX) (“CableClix” or the “Company”) Kris Domich, President of CableClix (USA), Inc. is pleased to announce that CableClix has entered into a financing arrangement in the amount up to Five Hundred Thousand Dollars (“$500,000.00 USD”) investment into CableClix from a group of private investors, where an initial ~$100,000.00 has been duly received by the company. The terms of the investment are in the form of a Promissory Note to the Company, with a two-year term at an annual interest rate of (“8%”) eight percent. The Promissory Note is convertible to common stock at the conversion price of $0.15 fifteen cents per share. No commissions were paid on the investment.
CableClix will use the proceeds for the previously announced build-out of a multi-station national head-end at its headquarters in Winchester, VA. The head-end will initially serve the Washington, DC metropolitan broadcast area comprised of approximately 2,443,640 TV homes with the capability to expand seamlessly to full national coverage. This head-end will be the start of the CableClix long term station lineup in the Washington, DC market prior to being deployed nationally. The initial lineup will provide a wide selection of local, national and international channels serving a wide array of news, sports, movies, weather and popular series programming. Please see CableClix press release April 01st, 2016.
CableClix and the shareholders of CableClix, would like to thank Mr. Gregory Steinke for the assistance in securing this investment and his continued efforts on building value for the company, which has maintained its status as a current filer with the SEC and OTC Markets and is poised for new added value and momentum. Additional investment into the company is presently being evaluated to support CableClix general working capital, legal and accounting fees as well as any advances to its business opportunities.
About CableClix (USA), Inc.
CableClix, Inc. was formed in 2013 to be a leading provider of high definition streaming television over broadband connections. Our goals remain as they were at our inception; deliver quality television programming in high and ultrahigh definition, including local network content, directly to the local consumer, on nearly any device, at any time. CableClix is different from others that have attempted to deliver similar services in the past – because we create partnerships with the national networks, local affiliates, and local ISP’s. Commonly referred to as television rebroadcasting, the concept is often one-sided in nature and ultimately the end consumer is left to pay significant monthly subscription fees for a plethora of channels that go mostly unwatched. Concurrently, local broadcast affiliates feel the ever increasing pressure of internet-based streaming services often broadcasting the same content and diminishing the relevance of traditional TV viewing. CableClix founders believed there was an opportunity to bridge the gap between the network and affiliate interests, and at the same time, give the consumers what they are clearly asking for: the convenience of watching their favorite shows any time, unaltered, and without a barrage of irrelevant marketing and advertisement.
Another important aspect of CableClix approach to streaming television is our appreciation for the local ISP’s, especially the Wireless ISP’s (WISPs). All ISP’s have experienced the pressure of needing to increase upstream bandwidth to support the growing popularity of streaming video. The cost of these increases in bandwidth are either passed on to the end customer, or in competitive markets, taken directly from the bottom line. WISPs in particular tend to serve customers in rural areas, and while are still part of a given metropolitan broad cast area, are unable to receive local broadcasts without a satellite connection due to line of sight or distance from transmitters. In nearly all of those cases, cable is not an option for those customers due to the unavailability of the required infrastructure. CableClix founder and owner/operator of a WISP understood this problem firsthand, which triggered the desire to solve this growing TV viewing conundrum:
“How can we deliver high definition, local and premium television to the public, especially rural customers while simultaneously relieving bandwidth strain on ISPs, in a manner that protects and enforces the local broadcast area boundaries and respects the intellectual property of the networks and production houses?”
CableClix is committed to the development and continual enhancement of products and services that deliver the programming that consumers want affordably and reliably. We achieve this using best-of-breed technologies, innovative people, and a customer-centric underpinning woven into everything we do. We respect the ownership, talent, and effort that goes into developing the news, entertainment, and other intellectual property that we stream, and always respect and enforce the boundaries of metropolitan broadcast areas. We value our partnerships with ISP’s and constantly seek out new ways to optimize their network resources to ensure the best customer experience. We are excited to be a part of the transformation of traditional viewing to the next generation of customized streaming TV.
More information about CableClix (USA), Inc. can be found at www.cableclix.com
Disclaimer/Safe Harbor: Statements about the Company’s future expectations and all other statements in this press release other than historical facts, are “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934, and as that term is defined in the Private Securities Litigation Reform Act of 1995. The Company intends that such forward-looking statements be subject to the safe harbors created thereby. The above information contains information relating to the Company that is based on the beliefs of the Company and/or its management as well as assumptions made by and information currently available to the Company or its management. When used in this document, the words “anticipate,” “estimate,” “expect,” “intend,” “plans,” “projects,” and similar expressions, as they relate to the Company or its management, are intended to identify forward-looking statements. Such statements reflect the current view of the Company regarding future events and are subject to certain risks, uncertainties and assumptions, including the risks and uncertainties noted. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove to be incorrect, actual results may vary materially from those described herein as anticipated, believed, estimated, expected, intended or projected. In each instance, forward-looking information should be considered in light of the accompanying meaningful cautionary statements herein. Factors that could cause results to differ include, but are not limited to, successful performance of internal plans, the impact of competitive services and pricing and general economic conditions.
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