Provision Holding Inc (OTCMKTS:PVHO)’s subsidiary Provision Interactive Technologies, Inc. updated about its agreement with the GRI Marketing Group, Inc, which is based out in Connecticut.
Deal with GRI
The agreement between the two companies is reached over the regional and national advertising sales, according to which, GRI will support Provision by generating ad sales. The agreement will help Provision to launch its 3D digital savings center retail network.
The company’s 3D digital savings center will display a 3D holographic sign to gain the attention of the customers, which will be placed along with a 2D interactive screen below. The aim of such screen will be to enhance and reward the customer experience. GRI will be responsible for driving the sales for this form of advertising among the advertising partners. Through such 3D display, Provision will gain access to both the regional and national brands.
Patent application update
With all the developments happening around, Provision has also decided to prepare nearly five patent applications for its unique advertising technology. In this direction, the company has already sought consultation from Pryor Cashman, which are intellectual property experts from New York. The experts will also assist the company with the patent application process.
Provision seeks protection for its intellectual property in the U.S. Apart from this; the company is planning to file additional patents as a part of its expansion plan in other countries that might include home entertainment, video gaming, home entertainment and telecommunications.
Meanwhile, Provision Holding has also proved its potential as far as its financial position is concerned. The company reported an increase in its revenues on both quarterly and yearly basis. Its revenues during the most recent quarter came in at $2.2 million. Also, the cash reserves of the company, amounting $2.9 million, is considered as pretty decent.
The stock of the company jumped by 20.43% to $0.390 during the previous trading session.