BRK Announces USD $10 Million "Iris" Digital Token Proposition

Rhea-AI Summary

BRK, Inc. (OTC: BRKK) announced the development of the 'Iris Token,' a digital token aimed at revolutionizing sports engagement for fans. This initiative will allow fans to view games from players' perspectives using advanced camera technology. Led by John Cruz, the project is designed to raise at least USD 10 million without diluting existing shareholder value. The token is expected to enhance user engagement through innovative payment mechanisms and market penetration strategies. BRK aims to become a leader in interactive sports content.

Positive

• Development of a unique digital token, 'Iris Token', aimed at enhancing sports fan engagement.
• Expected non-dilutive funding target of USD 10 million for the token initiative.
• Leadership under experienced digital assets professional John Cruz.
• Potential for significant upside for shareholders through innovative technology and market expansion.

Negative

• Risks associated with commercialization of new technology.
• Dependence on raising capital to meet business requirements.

HENDERSON Nev., Sept. 3, 2020 /PRNewswire/ -- BRK, Inc. (the "Company") (OTC: BRKK) is pleased to announce an initiative to develop and distribute a cutting edge digital token that aims to revolutionize the experience of avid sport fans across a number of sports. The "Iris Token" will allow fans the ability to see the game from the personal vantage point of their favourite players, and immerse themselves in real-time sporting action, with views previously seen only by the players themselves. With user controlled vantage points via cameras situated on player jerseys, BRK's Gen2 technology platform aims to drive the "Iris" experience and allow sports fans to engage with their favourite sports teams and players and see the views the pros see during the game, in practices and in the locker room. 

Mr. John Cruz will lead the developmental work and overall project through to successful completion. He is Head of Digital Assets at a North American digital currencies desk, and has successfully brought to market numerous digital tokens. Mr. Cruz stated:  "The cutting-edge Gen2 Iris product lends itself well to business model applications that are strengthened by utility tokenomics. The use of an Iris digital token can help offer new use cases for making sports content more "real" for end-users. The ability of a fan to pay with a token to literally see the practice court or the game from the perspective of their favourite sports star is a compelling proposition. Furthermore, the fact that the financing of this game-changing proposition is on a totally non-dilutive basis for BRK and its shareholders only increases the business rationale of developing and launching this innovative digital token."

Mr. Michael Kovacocy, COO and Head of IR for BRK, stated:  "Today's announcement is a statement of intent of the ambition of our company to impact the sports world with our cutting-edge camera technology and platform. Our business model is focused on driving revenue and acquiring customers and mindshare through cost-efficient and shareholder accretive programmes. The "Iris Token" fits perfectly within our model, and we intend to greatly expand our reach and make a meaningful impact in the sports world amongst sports teams, sports leagues and leading sports apparel companies."

Mr. Daniel Serruya, CEO of BRK, added:  "The "Iris Token" represents a minimum targeted raise of USD $10m, which will be entirely non-dilutive to our current shareholder base. This is not only an ideal vehicle by which to drive market penetration of our Gen2 platform and the "Iris" product line - it represents our firm belief that our cutting-edge technology fits perfectly into a world that is increasingly digitalized and in which consumers of content will increasingly seek new and exciting ways to engage with their favourite teams and players and pay for such capabilities through novel payment mechanisms such as digital currency. Whilst we are in the infancy of both interactive sports engagement and digital currencies, we believe that BRK shareholders will have the significant upside of both through this exciting initiative. We thank John for his joining us in this endeavour, and know that he will bring substantial insight and execution capabilities that will benefit our shareholders."

BRK Inc. (OTC PINK: BRKK), established in 2008, BRK is the next generation in live-action broadcasting technology. We are a full-service provider geared to professional leagues and athletes, whether it be traditional sports, extreme sports or esports, and that will allow fans to watch them in action from  perspectives that do not exist today. Our niche is that we are a second screen content provider that does not pose a threat to first screen media but rather we provide the opportunity to pioneer complimentary content and campaigns. In addition to the above, Gen 2 technology is being developed for applications in security, law enforcement and other industrial verticals.

The foregoing contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are intended to be covered by the safe harbor provisions of the federal securities laws. Forward-looking statements often contain words such as "will," "anticipate," "believe," "plan," "estimate," "expect," "intend," "is targeting," "may," "should," ''poised,'' and other similar words or expressions. Forward-looking statements are made based upon management's current expectations and beliefs and are not guarantees of future performance. Our actual business, financial condition or results of operations may differ materially from those suggested by forward-looking statements as a result of risks and uncertainties which include, among others, those described in any of our other filings with the SEC. In addition, such statements could be affected by risks and uncertainties related to: (i) commercialization of our newly-acquired helmet camera, (ii) continuing development and protection of our intellectual property, (iii) unexpected industry competition, (iv) the need to raise capital to meet business requirements, and (v) our ability to sell our products in order to generate revenues. Forward-Looking Statements are pertinent only as of the date on which they are made, and the company undertakes no obligation to update or revise any Forward-Looking Statements, whether as a result of new information, future developments or otherwise. Any future public statements or disclosures modifying any of the forward-looking statements contained in or accompanying this news release, will be deemed to supersede such statements in this news release. Information on BRK Inc.'s website, http://www.brkgen2.com does not constitute a part of this release.

Contact:
shareholder@brkincorporated.com 
brkgen2.com
702.572.8050

 

View original content:http://www.prnewswire.com/news-releases/brk-announces-usd-10-million-iris-digital-token-proposition-301124053.html

SOURCE BRK, Inc.

FAQ

What is the Iris Token by BRK (BRKK)?

The Iris Token is a digital token developed by BRK aimed at enhancing sports fan engagement by allowing them to view games from players' perspectives.

How much funding is BRK targeting with the Iris Token?

BRK is targeting a raise of at least USD 10 million for the Iris Token initiative.

When was the Iris Token initiative announced by BRK (BRKK)?

The Iris Token initiative was announced on September 3, 2020.

Who is leading the development of the Iris Token?

John Cruz is leading the development of the Iris Token initiative.