LAS VEGAS, NV / March 4, 2017 / BRK, Inc. (PINK SHEETS: BRKK), announced today that it was preparing to move to including a licensing model. In essence, what this means is that it will now license its Helmet Camera System to licensees for new product development based on the IP and for the commercialization of those products.
By becoming a licensor, BRK hopes to attract licensees who are best in class in their particular niches in order to leverage its IP into more products than it could produce itself.
“The RefCAM is proof of concept that the IP works, and would be one example of a product that can be produced from the IP,” stated Brian Keasberry, CEO of BRK Inc. “I’m sure there are others we haven’t thought of, and this opens up the field for us to form partnerships with creative people in a wide variety of industries. It also frees us up from being exclusively manufacturers – which ties up a lot of capital for a small company.”
For products the Company intends to develop itself – and it says its got some in the pipeline, it will outsource the research and development to American companies with expertise in the field. “There’s no point in our having an R&D department in-house when there is so much talent available in our backyard and our research on our IP is basically done,” Keasberry further stated. To that end, the Board of Directors has been given, and accepted the resignation of Chris Stramacchia as CTO and Director of BRK Inc., with gratitude for services rendered. “Chris was spreading himself too thin – going to games, trying to develop new products, and helping at the corporate level. Now he can do what he’s good at – tinkering and inventing. And if one of those new products is based on our IP, then he can become a licensee for that particular product.”
Further to its new goal of becoming a licensor for the IP, BRK has decided not to bid on the 2018 Olympic Games. “After further reviewing the commitment of resources necessary to satisfy all parties concerned, it doesn’t make sense for us to send a crew and equipment half way across the world for a one-off opportunity,” explained Keasberry. “The economics just aren’t there. Our focus now is on strictly growing revenues.”
BRK Inc. invites fans to sign up for advance notice of games featuring the RefCAM at www.brkincorporated.com.
About BRK, Inc.
BRK Inc. (PINK SHEETS: BRKK), established in 2008, is owner of the Helmet Camera patents that make the RefCam possible. With the acquisition of the live broadcast helmet camera patent, BRK is poised to enter sports marketing in a big way. iSee Sports Inc. is a wholly owned subsidiary of BRK, Inc.
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, www.brkincorporated.com does not constitute a part of this release.