Tomahawk, WI 3/6/2012 (StreetBeat) – iTrackr Systems, Inc. (OTCBB:IRYS), an e-commerce and social media software and services company, today announced, in a press release, that it has received an executed Term Sheet from Cornucopia Fund, LP., by its General Partner, Omar Amanat. Mr. Amanat, a co-founding board member of Twilight Studio as well as Summit Entertainment’s largest shareholder; Peak Group Holdings. IRYS is also under an e-mail marketing campaign today that has caused a spike in volume. As I write, shares of IRYS are trading down 20 percent at $0.46 per share on volume of 1.3 million shares, which is triple, its average daily volume.Mr. Amanat provided and raised 50% of the capital during Peak’s $1 Billion financing of Summit Entertainment. Recently Summit was sold to Lions Gate Entertainment Corp. (NYSE: LGF) for $412 Million.
John Rizzo, CEO of iTrackr Systems, Inc. commented, “We are very excited to have an astute investor like Omar on the iTrackr team, someone who sees the value proposition of the iTrackr Systems technologies and can be instrumental in helping us achieve our goals.” The fund will finance up to $1,000,000 at a fixed price of $.40 cents per share.
iTrackr Systems is an e-commerce and social media software and services company. The company built and now operates iTrackr.com, a direct deals platform containing over a million business profiles, designed to enable consumers and their local merchants the ability and independence to negotiate discounts directly when they want and how they want. In addition, through its wholly owned subsidiary, RespondQ, the company provides cutting edge chat technology via licensing and is the first in its class to also offer a Full Service and Pay for Performance model to qualifying site owners.
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