iEntertainment Network to Publish New Retail Titles.
CARY, N.C.--(BUSINESS WIRE)--Jan. 16, 2002
"WARBIRDS" in a Box, Very Successful Retail Product Previously
iEntertainment Network, (NASDAQ OTC: IENT) (www.IENT.com) announces today that it intends to produce retail versions of its world famous, award winning online titles in a Retail Box for sales in major retail software outlets around the world.
The release of such products enables IENT to increase revenues from both Retail royalty payments based as a percentage of the retail price and online revenues by the gaming new players who will have the software required to go online and play. IENT successfully shipped, within the last five years, over 300,000 copies of WarBirds and related products at Retail. These Retail titles will include WarBirds, Dawn of Aces, and the entire TotalSim series of historically based military simulations. All of these games are played in Massively Multiplayer Internet Persistent Digital worlds.
iEntertainment Network has not chosen a publisher for these products but has had discussions with numerous significant worldwide leaders in Retail Distribution. The first time these products were shipped, they were published internally by IENT. Although the revenue was very large, with over 300,000 units of similar products shipped, IENT had to accomplish the advertising spending, the marketing, the sales, and the collections in this effort. The Company has decided to engage the services of one of the more successful publishers to insure worldwide distribution of these products. The publisher will accomplish the marketing, and advertising planning and spending.
"WarBirds at the retail shelf was very exciting and successful the first time the Company accomplished that distribution," says IENT CEO, JW "Wild Bill" Stealey. "This time we hope to make it even more successful using a much more powerful publishing and distribution company than IENT. Our distribution partner will be a company that can accomplish WorldWide sales and distribution. We will make our choice of publishers within the next 60 days."
IENT has also accomplished a number of initiatives that will assist in building the WarBird brand, and grow the WarBird revenue base. IENT reached agreement with Mr. Matt Davis C.E.O. of FurBall.com (http://www.furball.warbirdsiii.com/), an outside company, to form a Player Development Corps (PDC). This Corps will assist the Company in developing specific art and modeling artifacts to use inside the WarBirds products. The WarBird Community Player base has been asking about accomplishing this kind of participation for a long time, and the Company is pleased that it has been approved and the efforts begun. The PDC will enable numerous improvements to be made to the game going forward. The Company has also agreed with another outside company, made up primarily from the Player Community, to begin work on developing improvements on Dawn of Aces, IENT's award winning World War I flying game. Players should begin to see these improvements in the products in a very short time.
IENT has also decided to develop the TotalSim series of historical based military simulation games. Based on WarBird technology, the TotalSim series will be complete simulations of WWII airpower with WarBirds, WWI with Dawn of Aces, and Korea with Korean Conflict!, and WWII land combat with Armored Battle. Each of these products will eventually have its own retail product line and its own online communities. Each of these products will produce their own revenue streams both at Retail and online.
iEntertainment Network (NASDAQ: IENT) was founded in 1994 and became publicly traded on the NASDAQ exchange in 1998. iEntertainment Network is a leading provider of Internet and Online Entertainment communities including Advertising based games like Bingo and Online Simulations like WarBirds (http://www.iencentral.com/warbirds). WarBirds has won many awards around the world for Best Online Simulation, including "Best Online Simulation of 2001", from Simulation News. IENT has members in over 70 countries who play and enjoy IENT's online games. JW "Wild Bill" Stealey, the Company CEO, founded both MicroProse Software and Interactive Magic. He took both companies public. With his MicroProse co-founder, Mr. Sid Meier, Mr. Stealey was responsible for the development and publishing of such famous computer games as F-15 Strike Eagle, Gunship, Silent Service, Pirates, Sid Meier's Civilization, and over 100 other successful game titles.
Forward Looking Statement for iEN
Except for the descriptions of historical facts contained herein, statements in this news release pertaining to iEntertainment Network, Inc. and online gaming are forward-looking statements. Actual results, performance or developments could differ materially from those expressed or implied by such forward-looking statements as a result of known or unknown risks, uncertainties and other factors including the success of the strategic marketing relationship, online gaming and those described from time to time in the company's filings with the Securities and Exchange Commission, under "Risk Factors" and elsewhere, including risks relating to history of operating losses, change in business, failing to secure timely or adequate financing, delays in development and introduction of new products, dependence on new product introductions which achieve significant market acceptance and the uncertainties of consumer preferences, the rate and degree of market acceptance of online gaming, dependence on third party software developers for significant portion of new products, risks of rapid technological change and platform changes, intense competition, dependence upon third party distribution and other risks. We undertake no obligation to update any forward-looking statements as a result of new information, future events or otherwise, unless required by law.