Moving iMage Technologies Announces Projects for Three Colleges and Universities

Rhea-AI Summary

Moving iMage Technologies (MITQ) announced new projection and sound technology upgrade projects with three universities, showcasing its strategic expansion beyond commercial cinema. The upgrades include installations at Mckenna Theater at San Francisco State University, the Media Department Dubbing Stage at Cal Poly State University, and a cinema at the State Technical College of Missouri's golf clubhouse. These projects aim to increase sales of proprietary products and enhance the company's growth in alternative venues. Notably, the Mckenna Theater upgrade features a Barco SP4k projector and QSC/Q-Sys sound system, while Cal Poly's dubbing stage will utilize Dolby Atmos. The company continues to innovate with a portfolio that includes SaaS and IoT technologies.

Positive

• Awarded technology upgrade projects from three universities, indicating strong market demand.
• Strategic expansion beyond commercial cinema opens avenues for revenue growth.
• Successful implementation of advanced projection and sound systems enhances product portfolio.

Negative

• None.

FOUNTAIN VALLEY, Calif.--(BUSINESS WIRE)-- Moving iMage Technologies (NYSE American: MITQ) ("MiT"), a leading cinema technology company, today announced it was awarded projection and sound technology upgrade projects from three universities.

“Part of our strategy is to expand beyond commercial cinema, and these projects are examples of just one way in which we are executing on these goals,” said Joe Delgado, executive vice president of sales and marketing. “We see alternative theaters and other venues as an incremental growth opportunity and a way to further increase sales of our proprietary manufactured products and new emerging products as well.”

Mckenna Theater, San Francisco State University

MiT upgraded this 705-seat multi-use theatre for DCI projection with a Barco SP4k laser projector and 7.1 QSC/Q-Sys sound system. In addition, MiT built custom speaker carts and treated the rear wall with acoustic panels to improve dialog intelligibility.

Media Department Dubbing Stage, Cal Poly State University

MIT designed and installed the systems for this multi-use room equipped for Dolby Atmos audio mixing with Barco projection, a Dolby server, QSC Reference speakers and amplifiers, and a 20-foot wide Severtson weave screen with custom masking and curtains.

Golf Clubhouse, State Technical College of Missouri

MiT will design, integrate and install the 53-seat cinema at the college’s new golf clubhouse. The cinema will be fully equipped by MiT, including Barco SP2k DCI projection, VIP seating and a 7.1 QSC/Q-Sys sound system.

About Moving iMage Technologies

MOVING iMAGE TECHNOLOGIES (NYSE American: MITQ) is a leading technology, products, and services provider to outside the home entertainment venues, including the motion picture exhibition industry, Esports league hosts and sports venues. We design, manufacture and sell proprietary products and are developing, introducing, and supporting a wide range of disruptive technologies including SaaS/IoT platform and subscription-based products. Our Caddy brand of proprietary products is a leading provider of proprietary cup holders, trays, and other products to entertainment and sports venues. For more information, visit www.movingimagetech.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230417005317/en/

Moving iMage Technologies Investor Relations and Media Contacts:

Brian Siegel, IRC^®, M.B.A.

Senior Managing Director

Hayden IR

(346) 396-8696

brian@haydenir.com

Source: Moving iMage Technologies

FAQ

What recent projects has Moving iMage Technologies (MITQ) announced?

Moving iMage Technologies announced new projection and sound technology upgrade projects at three universities.

How does MITQ plan to expand its business beyond commercial cinema?

MITQ aims to expand by targeting alternative theaters and other venues, increasing sales of its proprietary products.

What upgrades were made at the Mckenna Theater at San Francisco State University?

The Mckenna Theater was upgraded with a Barco SP4k laser projector and a 7.1 QSC/Q-Sys sound system.

What technology was installed at Cal Poly State University's Media Department Dubbing Stage?

The dubbing stage features Dolby Atmos audio mixing, Barco projection, and a Dolby server.

What is unique about the cinema being installed at State Technical College of Missouri's golf clubhouse?

The cinema will be equipped with Barco SP2k DCI projection and VIP seating.