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WILMINGTON, Del., Jan. 15 /PRNewswire-FirstCall/ -- Universal Capital Management, Inc., a publicly traded venture capital company that provides emerging growth companies with management and strategic resources for successful growth, is pleased to announce that SIVOO Holdings, Inc. unveiled their "CEDR" technology platform on January 10, 2008. SIVOO Holdings, Inc. is one of Universal Capital Management's portfolio companies.
CEDR (pronounced seeder) is a new technology platform for managing IP video across the many screens that today's video consumers use from the TV, to mobile devices, to the computer. CEDR stands for "Content, Encode, Distribute and Report", which activities encompass the life cycle of the IP video.
Christopher Myers, SIVOO's president and chief operating officer, explains why this is so important. "CEDR makes our customer's video ubiquitous by giving them the ability to reach consumers on every device they use to watch video today. Through CEDR, our customers' video can be seen on leading user generated content sites like YouTube, on mobile devices live Verizon V-Cast capable phones, and, on television sets through providers like Verizon FIOS TV, Hotwire and Verismo." Mr. Myers added that, "This represents an evolution in the distribution of video that allows SIVOO's customers to take a single video asset and leverage that asset across every platform to reach the greatest number of users possible. We take one asset and turn it into ten that support cable TV formats, Flash video formats, Windows Media formats and QuickTime formats, distribute these assets to every appropriate outlet and report back to our customers on their use and performance."
Commenting on SIVOO's CEDR, Joseph Drennan, Vice President of Universal Capital said, "SIVOO has established a significant technology advancement that should substantially impact revenue growth and propel the company to a new level. We are anticipating a significant gain in our investment in SIVOO and look for good long term growth as SIVOO matures and delivers on its potential."
Universal Capital Management, Inc. is a publicly traded business development company under the Investment Act of 1940. Its purpose is to provide an opportunity for its shareholders to diversify risk by investing in a fund that invests in many high risk, high return companies. Please visit the company's website for additional information at http://www.unicapman.com
Forward-Looking Statements
The information contained in this press release may contain "forward- looking statements." You can identify these statements by use of the words "may", "will," "should," "plans," "explores," "expects," "anticipates," "continue," "estimate," "project," "intend," "believe," and similar expressions. Forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those projected or anticipated. These risks and uncertainties include, but are not limited to the following which could affect Universal Capital Management, Inc. or one or more portfolio companies: general economic and business conditions, effects of continued geopolitical unrest, competition, changes in technology and methods of marketing, delays in completing various engineering and manufacturing programs, changes in customer order patters, changes in product mix, continued success in technological advances and delivering technological innovations, shortages in components, production delays due to performance quality issues with outsourced components, and various other factors beyond the Company's control. The Company assumes no obligation to update publicly or revise any forward-looking statements.
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