ORLANDO, Fla. — (BUSINESS WIRE) — January 21, 2014 — Sputnik Enterprises, Inc., OTCBB SPNI, announced today that it has reached definitive agreements with Terra Imaging, LLC, iCaddy, and iScore Golf, LLC to acquire the technology firms in a stock exchange transaction whereby all of the companies acquired will become wholly owned subsidiaries of Sputnik Enterprises, Inc.
The closing of the transactions is subject to due diligence by all parties, and the completion and delivery of audit reports by a member in good standing of the PCAOB. Reference is made to the Agreements for the Exchange of Common Stock between Sputnik and the firms filed as exhibits to the 8K filing of Sputnik at www.sec.gov for detailed terms and conditions of the acquisitions. The closing of the transactions is scheduled for February 12, 2014.
Terra Imaging is based in La Jolla, California, emphasizing in the geospatial integration of 3D mapping and data technologies into various 3D Golf Course products to include: Golf Cart GPS, Mobile Golf GPS and 3D Golf Gaming and Golf Simulation Technologies for mobile, web, console and golf simulator systems
Terra’s 3D Golf Course products include:
- Golf cart navigation system, implementing patented and proprietary 3D technology, integrating geospatial, 3D imagery, terrain and GPS data for advanced golf visualization and strategy.
- Smaller, mobile version, implementing patented 3D technology with an AR (Augmented Reality) benefit and 3D visualization capabilities.
- Complete CartPro/MobilePro/GIS (Geographic Information Systems) management software for cart, vehicle, asset monitoring; hydrology, utilities and landscape management features.
Resort GPS – MSS (Mountain Safety Systems)
- Mobile GPS technologies focused on guest, vehicle and asset tracking for the mountain and golf resort.
3D Golf Course – Data and Technologies
- A complete data and technology licensing model for partners requiring customized 3D mapping and 3D data visualization solutions.
Terra Imaging enjoys relationships with these world class partners:
Microsoft: An exclusive golf themed partnership, with Terra Imaging acquiring 3D imagery and terrain data for Microsoft Bing Maps.
Google: Data licensing partnership, where Terra Imaging supplies non-Microsoft related golf course data for integration with Google Earth and Google Maps.
US Open - USGA: Working closely with the US Open and USGA to provide 3D mapping, GPS data and web applications for US Open Tournaments.
About iCaddy - www.icaddy.com
Currently testing and in ‘beta’ development for Google Glass and other wearable devices, iCaddy is “what’s next” for golf information systems. With a natural, voice controlled application; golfers can get distances, keep score and interact with the course and each other in a whole new way. Featuring centimeter accurate 3D Golf Course data, players can see information overlaid into their view and benefit from the latest Augmented Reality golf GPS.
About iScore, LLC
The iScore Live scoring solution provides a no cost modern golf tournament and live scoring solution to golf clubs around the world, incorporating existing tournament operations with live scoring and leader boards, with handheld devices with each group, that enter real time updates on each of the scoring devices and on leader boards in the clubhouse and the web. iScore effectively enables golf clubs to run all their tournaments from a web based program. It will create all the tournament essentials; Scorecards, Cart Signs and Registration sheets. Providing live scoring through hand held scoring devices provided by iScore in partnership with the golf course will give everyone in the tournament a live leader board on the course as well as web enabled leader boards on televisions in the clubhouse and online.
iScore supplies all devices, data plan and supporting software system to qualifying clubs and is expected to launch what is referred to as its “Green Box” program in 2014.
Forward-Looking Statements. Certain of the above statements contained in this press release contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Actual results, events and circumstances (including future performance, results and trends) could differ materially from those set forth in such statements due to various factors, risks and uncertainties, including but not limited to, risks associated with the company's future growth and operating results, the uncertainty of market acceptance of the company's business plan, competitive factors and general economic conditions. Sputnik Enterprises, Inc. has no duty and undertakes no obligation to update such statements.
Contact: Anthony Gebbia, CEO Sputnik Enterprises, Inc.
Sputnik Enterprises, Inc.
Anthony Gebbia, 407-203-7032