Friday, 10 March 2017

Our technology and product are looking for a new home

It is publically known that EXO U is not in situation to bring Ormiboard to market (press release), and the related technology, to market.

Given that certain parties have communicated an interest in possibly acquiring the assets of EXO U Inc., the Company applied to the Court and obtained an extension of the delay to file a proposal to its creditors until April 21, 2017. This will enable all potential interested parties to clearly define their intentions.

As previously stated, Richter Advisory Group Inc. was appointed Trustee in the proceedings initiated under the Bankruptcy and Insolvency Act. In addition, the Board of Directors of EXO U Inc. has asked the Trustee to assist them in seeking a purchaser for the assets.

The assets in question are mainly composed of:
·       A universal application for teachers and student’s needs (class, lessons, quizzes, assignments, homework). V1 completed, V2 in beta.
Video demo: https://www.youtube.com/watch?v=jqgQ8T0ZHjo
More information (this blog): http://exopclab.blogspot.ca/2017/03/ormiboard-v2.html
·       Building blocks (server and client sides) including:
o  Generic containers for iOS, Android, Windows, MacOS to package web based universal app for distribution via the app stores
o  VR asset for Unity3D enabling classroom collective VR experiences
o  DB-less, communication engine ready for scalability, enabling direct communication between browsers, server and apps instances. (demo of an use case: https://www.youtube.com/watch?v=IqUt37td76Q )
o  Universal UI Layer extremely efficient on any touch or mouse based devices (several years of R&D, demo: https://www.youtube.com/watch?v=Yyc0sBfQrjk
o   Mac, Windows and Android client app running Ormiboard Server (with the libraries) and enabling communication in the classroom without Internet access (offline classroom)

·       The source codes to the software and building blocks developed by the Company
·       EXO U CTO, main architect and developer for the product and the building blocks, is open to continue the development based on new goals to ensure continuity in the development.
·       All other related intellectual property such as patents and trademarks and tradenames (www.exou.com)
·       Tax loss in the approximate amount of CAD $20 million

We will be pleased to supply all interested parties with all relevant information they may require to determine their interest or perform a one-to-one demonstration to any interested party. We further refer you to our internet site under insolvency cases for further information on the Company as well as the official insolvency documentation. (http://www.richter.ca/Folder/Insolvency-Cases/E/EXO-U-Inc).

Given the short delays, all interested parties must submit their offers before 3 pm (e.s.t.) on Wednesday April 5, 2017. The offers should be sent directly to the Trustee, either by mail or by email. All information will be kept strictly confidential.

Richter Advisory Group Inc.
Trustee
Gilles Robillard, CPA, CA, CIRP, LIT
1981 Mc Gill College
Suite 1200
Montreal, Quebec
H3A 0G6

For more information, you can visit:
- Our youtube channel with several technology showcases (500,000 views)
- Our main website
- Ormiboard V2 demo and information


No comments:

Post a Comment