SOURCE: H & H Imports, Inc.
CLEARWATER, FL--(Marketwire - Jun 2, 2011) - TV Goods, Inc., a wholly owned subsidiary of H&H Imports, Inc. (OTCBB: HNHI) has entered into an agreement with Seen On TV, LLC to purchase AsSeenonTV.com and the toll-free number 866-AsSeenOnTV.
AsSeenonTV.com represents a highly trafficked catalog of direct response products with over two million customers, 700,000 email registrants and hundreds of thousands of unique visitors each month. Under the agreement, TV Goods intends to acquire AsSeenonTV.com and related intangible assets for $5,000,000, payable in cash and stock, and TV Goods has agreed to issue Seen On TV, LLC a minimum of 5,000,000 shares of common stock and a warrant to purchase 1,000,000 shares of common stock exercisable at $0.35 per share in consideration for the assets.
"We believe this is one of the biggest brands in global electronic retailing, a Crown Jewel of the direct response industry," said TV Goods Chairman Kevin Harrington. "Together with our strategic partner Delivery Agent, we intend to take it to the next level, creating a new playing field to reach millions of new consumers around the globe."
San Francisco-based Delivery Agent, the leader in transactional television will handle all aspects of technology, including platform development and deployment -- web, mobile and interactive television, interactive marketing, and operations. Delivery Agent-powered AsSeenOnTV.com enhancements include TV Goods' live "Video Deals of the Day" with celebrity spokespersons, mobile applications allowing consumers to make purchases from iPhones and Androids, and T-commerce campaigns enabling TV viewers to "click-to-buy" directly from their remote controls. Delivery Agent's proprietary transaction engine, TV Walletâ„¢, which now powers interactive commerce for over 200 entertainment and sports properties including CBS, NBC, FOX, HBO, and many others, will be integrated into the shopping experience.
"AsSeenonTV.com is a big winner in the direct response industry. Dan Fasano knew this when he founded the site, and we are carrying on his legacy," said Harrington.
Mary Beth Fasano, CEO of Seen On TV, LLC said, "My late husband Dan believed this was the premier direct response URL available. It is, and it's a great testament to his vision that his friend Kevin Harrington and Delivery Agent have come together to take this property to its fullest potential."
"The $50 billion dollar infomercial industry is a natural place for Delivery Agent to extend its transactional television platform," said Mike Fitzsimmons, Delivery Agent CEO. "Thirty percent of U.S. households purchased a product from an infomercial last year. We look forward to making it even easier through the web, mobile devices and ultimately directly through a remote control."
In addition to this strategic partnership, Kevin Harrington will be joining Delivery Agent' s advisory board with a focus on growing the direct response market through all cross-channel platforms.
About H&H Imports, Inc and TV Goods, Inc.
H & H Imports, Inc. is the parent company of TV Goods, Inc. TV Goods, Inc. is a direct response marketing company. We identify and market consumer products for global distribution. TV Goods was established by Kevin Harrington, a pioneer of direct response television. Kevin Harrington is an original investor on the ABC show "Shark Tank," which is produced by Sony Pictures Television and reality TV mogul Mark Burnett. For more information go to www.TVGoodsInc.com.
Forward-Looking Statements:
Except for statements of historical fact, the matters discussed in this press release are forward-looking and made pursuant to the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995. "Forward-looking statements" describe future expectations, plans, results, or strategies and are generally preceded by words such as "future," "plan" or "planned," "expects," "may" or "projected." These forward-looking statements reflect numerous assumptions and involve a variety of risks and uncertainties, many of which are beyond the company's control that may cause actual results to differ materially from stated expectations. These risk factors include, among others, limited operating history, difficulty in identifying and marketing products, intense competition and additional risks factors as discussed in reports filed by the company with the Securities and Exchange Commission, which are available at http://www.sec.gov.
About Delivery Agent, Inc.
Delivery Agent, Inc., named #1 Privately Held Media Company by Inc. Magazine and #3 on the Deloitte & Touche Silicon Valley Technology Fast 50, is the leader in shopping-enabled programming and content monetization for more than 200 entertainment properties from major media companies including CBS, NBC Universal, Twentieth Century Fox, Discovery Communications, A&E Television Networks, HBO, Showtime, The CW, Univision Communications, and The Weinstein Company, as well as for sports organizations including FIFA, the Boston Celtics and UFC. Delivery Agent created the market for shopping-enabled programming by redefining how products tied to entertainment are cataloged, merchandised and sold online. With offices in San Francisco, New York, Los Angeles, Denver and London, Delivery Agent deploys its technology platform, including commerce applications, video and mobile products, and interactive advertising solutions to create profitable connections between entertainment content, consumers and brands. More information about Delivery Agent is available at www.deliveryagent.com.