Destiny Media Technologies Announces 3:1 Common Stock Split
VANCOUVER, Dec. 30, 1999 - Destiny Media Technologies, Ltd (DSNY - Pink Sheets) announced today that its Board of Directors has approved a three for one split of the Company's outstanding shares of common stock.
The stock split will be affected in the form of a 200% stock dividend to shareholders of record on December 30, 1999. The additional shares will be distributed by American Securities Transfer & Trust, Inc. (AST), the company's transfer agent. Shareholders will be required to exchange their existing shares as instructed by AST.
The Company currently has 7,167,000 shares outstanding.
On November 23, the company filed a Form 10-SB registration statement with the U.S. Securities and Exchange Commission ("SEC") to become a fully reporting, OTC bulletin board listed company.
Destiny's Form 10-SB is available for viewing via the SEC Web site at http://www.freeedgar.com/ by searching the EDGAR database. The Form 10-SB is currently under review by the SEC and must clear comments to become effective. These steps further Destiny's goal to advance its status and visibility among shareholders and the investing public.
Destiny Media Technologies, Inc. develops accessible and consumer friendly internet audio technologies based on its proprietary streaming audio format.
Clipstream (http://www.clipstream.com) allows a webmaster to embed audio of any length in a web page. It does not require a server. The audio begins playing as soon as it is clicked and unlike competing products, it does not require the user to download or configure a player. This technology can also be used to create rich media audio banner ads.
The second technology, RadioDestiny (http://www.radiodestiny.com) is an internet radio and digital music distribution system. Content owners can set up internet radio stations which encode album cover artwork and lyrics into the outgoing signal. Users can purchase either the CD or the encrypted MP3 version of the song. The player features a real time directory of current stations broadcasting with Destiny's proprietary streaming technology and playback of digital music in MP3 and other popular formats.
Other products under development include a web camera network, audio based chat and an internet phone. Destiny also has a 100% wholly owned subsidiary, Wonderfall Productions which has a number of online game properties.
About Destiny Media Technologies, Inc.
Destiny Media Technologies, Inc. (http://www.dsny.com) is a leader in developing easy-to-use tools and enabling technologies to distribute digital media through the Internet. The company's suite of streaming and downloadable products includes: MPE™ (http://www.destinympe.com), a complete, secure media distribution system that provides e-commerce and digital rights management directly from within an MP3-compatible multimedia file; Clipstream™ (http://www.clipstream.com), a java-based tool which enables web pages, e-mail and banners to stream audio without the use of a player; Video Clipstream™ (http://www.videoclipstream.com), a technology for embedding streaming video into a web page or e-mail; and the RadioDestiny Broadcaster™ (http://www.radiodestiny.com), which allows a user to webcast live or scripted internet radio from a computer to anyone on the Internet. Established in 1991, the company is headquartered in Vancouver, Canada.
For more information contact:
Destiny Media Technologies, Inc.
President & CEO
Destiny Media Technologies, Inc.
604-609-7736 ext. 222