LOS ANGELES--(BUSINESS WIRE)--Loton, Corp. (LTNR) announced that Jack Schneider, President of PR Partners, has joined the Loton, Corp. Advisory Board.
Mr. Schneider was a Managing Director for 34 years at Allen & Co. LLC, the premier investment house in the media and entertainment sector. He has also been on the Board of the National Mentoring Partnership for 12 years, and he served as Chairman of the Buoniconti Fund to Cure Paralysis for 25 years.
“With my decades of experience in the media and entertainment industry,” commented Mr. Schneider. “Loton is an exciting opportunity to take advantage of the new developments in the media and technology sectors.”
“Jack is an excellent addition to the Loton Advisory Board,” commented Robert Ellin, Chairman and Chief Executive Officer of Loton, Corp. “He brings tremendous experience as a distinguished investment banker. His experience will help us tremendously in identifying strategic options while building our new media company.”
About Loton, Corp.
Loton, Corp. is currently considered to be a “blank check” company. The U.S. Securities and Exchange Commission (the “SEC”) defines those companies as “any development stage company that is issuing a penny stock, within the meaning of Section 3(a)(51) and Rule 3a51-1 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), and that has no specific business plan or purpose, or has indicated that its business plan is to merge with an unidentified company or companies. The Company’s principal business objective for the next 12 months and beyond such time will be to achieve long-term growth potential through a combination with a business rather than immediate, short-term earnings. The Company will not restrict its potential candidate target companies to any specific business, industry or geographical location and, thus, may acquire any type of business.
Forward Looking Statement
Statements in this news release concerning future results from operations, financial position, economic conditions, product releases and any other statement that may be construed as a prediction of future performance or events are forward-looking statements which involve known and unknown risks, uncertainties and other factors which may cause actual results to differ materially from those expressed or implied by such statements. These factors include uncertainties as to levels of orders, ability to record revenues, release schedules, market acceptance of new products, changes in economic conditions and market demand, pricing and other activities by competitors, and other risks including those described from time to time in the Company’s filings on Forms 10K and 10Q with the Securities and Exchange Commission (SEC), press releases and other communications.