Business
One Horizon Group Provides Business Update for the Second Quarter 2019
One Horizon Group Provides Business Update for the Second Quarter 2019.
About this update from Touchpoint Group Holdings, Inc.
[{"type":"text","content":"\n MIAMI, Aug. 20, 2019 (GLOBE NEWSWIRE) -- One Horizon Group, Inc. (OTCQB: OHGI) (Company or One Horizon) today provided a business update and reported financial results for the second quarter ended June 30, 2019. Second Quarter 2019 Highlights: Launched Touchpoint, the white label development of the 123Wish platform, a next generation fan engagement platform designed for fans, brands and celebritiesEntered into a preliminary agreement to acquire a majority interest in Redspots Creative (Hong Kong), a multi-media production company, in a stock transaction based on post-closing, future earnings Mark White, Chief Executive Officer of One Horizon, stated, “We made significant progress during the second quarter by introducing a new offering developed from our 123Wish Platform. Specifically, we launched Touchpoint, a next generation fan engagement platform designed to bring fans closer to celebrities by providing access to proprietary content, livestream events, as well as exclusive merchandise. We added elite model, Alexis Clark, as our first celebrity influencer to maximize engagement with her growing fan base and sponsors.  We are expecting the commercial launch of Maham LLC’s yoga version of Touchpoint in the coming weeks, which will enable Maham to offer on-line and offline yoga classes, exclusive content and merchandise on the app. The platform is optimized for iOS and Android, as well as Internet and TV-based applications. Moreover, we plan to leverage other celebrity relationships through our 123Wish Platform, which we believe will help Touchpoint rapidly gain critical mass. Touchpoint is targeted to fans and brands and we expect to rapidly add more license revenue before the year end.” “We are also moving forward with our preliminary agreement to acquire a majority interest in Redspots Creative Hong Kong, a pioneer in the area of augmented/virtual reality that has developed the first virtual idol animation system aimed at both the end user and professional animators. As the AR/VR market is experiencing significant growth, we anticipate this planned acquisition to be transformational to our business and easily leveraged across our media and digital technology platforms, including Love Media House, Browning Productions and 123Wish.  We believe this transaction will be accretive to earnin...