Consorteum Holdings, Inc. announced this afternoon that it has made notable progress in the three main areas of its current initiatives. The update quantifies the current status of these divisions as the company continues to move forward with its strategic business plan.
In the release, Consorteum told investors it has expanded the Blue Sea Manning pilot initiative to include additional staff members, and is optimistic about the prospects of further deployments within the industry. The company anticipates presenting its results to other potential clients within the sea cruise staffing industry. The purpose of the pilot is to validate the effectiveness of the Company’s card program while streamlining the payroll process and reducing current workload for the administrative staff of such companies.
As previously announced, the company increased its ownership position in MyGolf Rewards to 75%. Consorteum and MyGolf Rewards management have worked diligently to reposition and prepare for a 2011 launch. The company has identified appropriate trade shows and has approached appropriate strategic partners. Consortuem is currently working on the financing required for the launch, additional international relationships and expansion into the European market.
Also previously announced, on July 27, 2010, the company officially launched the initial pilot for the First Nations card in Canada, in the New Brunswick, Madawaska Maliseet community. Originally targeted at the administration staff, the card program is now being expanded to members of the community. The program is currently being promoted to specific additional pilot communities. The Company estimates that there are over 600 locations and more than 400,000 First Nations members that can be marketed to over time. Consorteum is in negotiations with a strategic partner to augment and fund further penetration into First Nations communities.
Craig Fielding, CEO of Consorteum Holdings, Inc., commented, “I believe it’s very important to keep our shareholders informed on the progress we are making in all areas, and the much more focused approach the company is now taking with respect to the financial effectiveness of our programs.”
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