SANTA MONICA, Calif.,
June 1, 2015 /PRNewswire/
-- Rightscorp (OTCQB: RIHT), the leading provider of
monetization services for artists and holders of copyrighted
Intellectual Property (IP), announced that it has hired a new chief
financial officer who has a unique combination of public company
management experience, capital raising expertise, and a strong
understanding about content creation and ownership, having invested
in and produced various independent content projects.
Cecil Bond Kyte was CEO and
Chairman of Save the World Air, Inc., a California based publically traded energy
technology company. At STWA he spearheaded the company's
restructuring and pioneered its development of Applied Oil
Technology, a technology platform designed to advance efficiencies
in oil pipeline systems. Under his stewardship, STWA grew from
roughly $10 million in market
capitalization in 2007 to an in excess of $350 million by 2013. Mr. Kyte's recent
experience as both an investor and producer on several Hollywood projects gives him a unique
perspective on Rightscorp's business and mission. He has a degree
in accounting from California State University
Long Beach.
At Rightscorp, he will oversee the Company's financial
activities including capital raising and investor development, with
the goal of maximizing shareholder value and strengthening the
Company's balance sheet. His experience at STWA, which
secured over $40 million in capital
under his helm, will be critical to helping Rightscorp achieve its
financial targets. He will also be responsible for the
Company's investor relations outreach, including shareholder and
corporate communications.
"We are pleased to welcome Cecil on board and believe his public
company background and his fundamental understanding of the value
of intellectual property make him the ideal candidate to complement
our management team," stated Christopher Sabec, CEO of Rightscorp.
"Cecil understands firsthand the importance of protecting content
creators and their copyrights. His addition to our team underscores
our ability to attract top talent and validates our competitive
position."
"Rightscorp is at the forefront of insuring the right to
property, which is fundamental to the formation of this
country. Copyrighted content is the property of its creators
and they have the right to determine who should be allowed to
distribute that content and for what price. This Company
stands for assuring the American dream for future generations
and I am excited to begin working with the team," noted Mr.
Kyte.
Mr. Sabec added, "The importance of copyright protection becomes
increasingly obvious in a digital world. RIAA reports that in the
decade since peer-to-peer (p2p) file-sharing site Napster emerged
in 1999, music sales in the U.S. have dropped 47 percent, from
$14.6 billion to $7.7 billion. The
MPAA (Motion Picture Association of America) estimates that piracy
costs studios over $6 billion each
year. Rightscorp is committed to protecting our clients' IP and
assisting them in monetizing their content through the
representation of more than 1.5 million copyrights."
About Rightscorp, Inc.
Rightscorp (OTCQB: RIHT) is a
leading 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. Rightscorp's mission is to ensure that creative
works are protected economically so that the next generation of
great music, movies, video games, books, and software can be made
and their creators can prosper.
http://www.rightscorp.com/
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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
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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
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SOURCE Rightscorp, Inc.