SANTA MONICA, Calif.,
Sept. 24, 2014 /PRNewswire/ --
Rightscorp (OTCQB: RIHT), a provider of monetization services for
artists and holders of copyrighted intellectual property (IP),
today announced that it has raised $2,652,000 in a private financing led by
institutional investors from the sale of 10,608,000 shares of
common stock in the Company and warrants to purchase 15,912,000
shares of common stock in the Company.
The proceeds will be used for general working capital purposes
to accelerate the Company's growth. Additional information about
this financing will be filed with the Securities Exchange
Commission and available at www.sec.gov.
"This funding will be used to expand on our automation and
continue our growth trend," said Christopher Sabec, CEO of
Rightscorp. "We are confident this funding, at a time when
pre-release piracy is on a rise, will accelerate our path to
profitability and help us realize our vision that digital creative
works should be protected economically so that the next generation
of great music, movies, video games, books, and software can be
made and their creators can prosper."
Rightscorp's digital loss prevention technology focuses on
unauthorized online distribution of content on peer–to–peer
networks (P2P). The company works directly with the owners of
copyrighted IP such as music, movies, books, software, and games
and works to ensure that owners and creators are rightfully paid
for the use of their work.
The Company represents more than 1.5 million copyrights and has
partnered with major motion picture studios, numerous platinum
recording artists, songwriters, authors, Academy Award-winning
films, and top TV shows. Rightscorp has already received
settlements from subscribers of more than 140 ISPs and closed over
100,000 cases of copyright infringement to date.
About Rightscorp, Inc.
Rightscorp (OTCQB: RIHT) is a
provider of monetization services for artists and holders of
copyrighted intellectual property (IP). The Company's patent
pending digital loss prevention technology focuses on the
infringement of digital content such as music, movies, software,
books, and games and ensures that owners and creators are
rightfully paid for their IP. Rightscorp implements existing
laws to solve copyright infringements by collecting payments from
illegal file sharing activities via notifications sent through
Internet service providers (ISPs). The Company's technology
identifies copyright infringers, who are offered a reasonable
settlement option when compared to the legal liability defined in
the Digital Millennium Copyrights Act (DMCA). Based on the fact
that 22% of all Internet traffic is used to distribute copyrighted
content without permission or compensation to the creators,
Rightscorp is pursuing an estimated $2.3 billion opportunity and
has monetized major media titles through relationships with
industry leaders. http://www.rightscorp.com/
Safe Harbor Statement
This press release may include
forward-looking statements. All statements other than statements of
historical fact included in this press release, including, without
limitation, statements regarding the Company's anticipated
financial position, business strategy and plans and objectives of
management of the Company for future operations, are
forward-looking statements. When used in this press release, words
such as "anticipate," "believe," "estimate," "expect," "intend,"
and similar expressions, as they relate to the Company or its
management, identify forward-looking statements. Such
forward-looking statements are based on the beliefs of the
Company's management as well as assumptions made by and information
currently available to the Company's management. Actual results
could differ materially from those contemplated by the
forward-looking statements as a result of certain factors not
limited to, general economic and business conditions, competitive
factors, changes in business strategy or development plans, the
ability to attract and retain qualified personnel, and changes in
legal and regulatory requirements. Such forward-looking statements
reflect the current views of the Company with respect to future
events and are subject to these and other risks, uncertainties and
assumptions relating to the operations, results of operations,
growth strategy and liquidity of the Company. All subsequent
written and oral forward-looking statements attributable to the
Company or persons acting on its behalf are expressly qualified in
their entirety by this paragraph.
For further investor and media information
contact:
Andrew Haag
Managing Partner
IRTH Communications
rightscorp@irthcommunications.com
1-866-976-4784
SOURCE Rightscorp, Inc.