PROVISION HOLDING, INC. (OTCMKTS:PVHO) Files An 8-K Other Events
Item 8.01
| Other Events |
On June15, 2017, Provision Holding,Inc. (the Company) entered
into a five year Strategic Alliance Agreement (the Agreement)
with Coinstar, LLC (Coinstar). Coinstar owns and operates
approximately 17,000 self-service coin counting kiosks at
retailer store locations in the United States.
The Company and Coinstar will work jointly to develop and
integrate the Companys free standing patented 3D holographic
display systems, known as HoloVision (the Systems) into Coinstars
kiosks, and will be installed and promoted at retailer store
locations, the specifics of which will be mutually agreed to and
summarized in a separate agreement (each a Statement of Work).
The Systems will have a proprietary coupon/loyalty card software
application and provide advertising and promotions through
Coinstar kiosks. For all retailer store locations in which
Coinstar kiosks are installed, Coinstar has been granted an
exclusive first right of refusal to include such locations.
The Company shall pay to Coinstar, and Coinstar shall pay to
participating retailers a specified percentage of monthly Net
Advertising Revenues, per kiosk (the Promotion Retailer
Commission) included in a Statement of Work, which shall be
determined by mutual agreement of Coinstar and Provision. Net
Advertising Revenues is defined as gross advertising revenues
from Systems less any operational expenses incurred in connection
with such Systems (for example: cost of paper, service, network
connectivity, network administration). The Company shall evenly
divide the remaining monthly Net Advertising Revenues after
deducting the Promotion Retailer Commission).
About PROVISION HOLDING, INC. (OTCMKTS:PVHO)
Provision Holding, Inc. and its subsidiary, Provision Interactive Technologies, Inc. are purveyors of three-dimensional (3D) holographic display technologies, software and integrated solutions for both commercial and consumer focused applications. The Company also offers 3D consumer advertising display products. It is focused on the development and distribution of its 3D holographic interactive video displays in the advertising and product merchandising markets. The systems display a moving 3D image size to 40 inches in front of the display, projecting a digital video image out into space detached from any screen. Its HoloVision display and 3D Savings Center kiosks offer advertisers and customers an opportunity to reach audience outside the home, in settings, such as grocery stores, malls, gas stations, banks and other retail locations. It is marketing 3D holographic interactive video display, and is also developing and marketing various point-of-purchase, and other devices.