Brightcube Concludes Beta on Digital Image Delivery System
Press release from the issuing company
El Segundo, Calif. — August 15, 2001 -- Brightcube, Inc.(OTCBB:BRCU), a leading developer and provider of digital papers and imaging infrastructure for the professional art and photography markets, today announce the conclusion of the first phase of its beta test of the Brightcube Solution, a digital image delivery system that enables art galleries and other retailers to print high quality artwork and photography, from contemporary artists and old masters, on demand and in-house, utilizing high quality wide-format inkjet printers and Brightcube papers. The Company has received substantial positive feedback from the beta users, and anticipates a full launch in September 2001.
"The beta test was more successful than we anticipated," said Al Marco, CEO of Brightcube. "Customers using the beta version of the Brightcube Solution, which did not include any of the current offerings that we have obtained from Devon Publishing Group(the Company's art publishing partner), printed more images than we expected. The overwhelming majority of the comments we have received have been very positive."
Once launched, the Brightcube Solution will be distributed by an internal sales force, as well as by Devon Publishing Group's sales team of more than 200 people. Devon Publishing Group, one of the largest open edition print distributors in the world, has also contracted with Brightcube for electronic distribution of a significant portion of its current artist and masters content via the Brightcube Solution.
Brightcube's consumables division, which sources and designs proprietary coatings for premium digital papers for the Art, Photography and Proofing industries, began shipping its Brightcube Eclipse double-sided digital paper this month. The Brightcube Eclipse is a 100% rag, acid free, fine art paper with outstanding color gamut and waterproof properties. "The response to the Brightcube Eclipse paper has been outstanding" said Ralph Roessler, President of Consumables at Brightcube. "Orders from retail, direct, and distributor customers exceeded our initial production. This is a unique product in the premium digital consumables area that provides enhanced functionality at a competitive price." In addition to retail customers and distributors, Brightcube is currently in discussion with several significant OEM customers regarding distribution of Brightcube sourced or designed papers, and expects that these discussions will result in purchase orders in the third quarter of this year.
Analysts have long predicted that digital printing and the associated benefits of a digital workflow would eventually penetrate the art world, but quality and archival problems have delayed the transition. Brightcube's development of proprietary coatings used in producing papers has enabled it to overcome these problems. At the PMA show's annual "DIMA Shootout", held in February 2001, Brightcube's papers took three Best of Show awards for the second year in a row.
The Company also announced the completion of an equity private placement that raised $1.4 million at $.20 per share. Management believes that these funds, combined with funds from an anticipated corporate asset sale, strategic relationships, and increasing cash flows from the consumable division, will be sufficient to fund operations and expected growth for the foreseeable future.
Marco added, "The world of Art and high end Photography printing is changing very rapidly. With today's technologies we are capable of printing an image faster, with greater print quality and more consistency. The combination of using the Brightcube consumables with proprietary coatings and new Inkjet technology has allowed us to create prints that should last more than 100 years with image quality that is comparable to or better than traditional printing technologies."
Brightcube, Inc. (OTCBB:BRCU - news) is a leading developer and provider of digital imaging infrastructure, technology, products, services and papers for the professional art and photography markets. The Company is focused on providing a single solution for the professional use of an image. The Company utilizes its six Web sites, a proprietary line of digital inks and papers (consumables), digital imaging software and hosting infrastructure and a revenue generating dealer network to enable its clients to store, deliver and print any image on demand. The Company's goal is to enable its clients to not only conduct their business more quickly, but profitably. Brightcube is moving quickly to provide Print on Demand solutions for retailers, photographers and consumers. For more information, visit the Company's Web site at www.brightcube.com.
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