BOCA RATON, FL--(Marketwired - June 10, 2016) - Cleartronic, Inc. (OTC PINK: CLRI) executed a Letter of Intent with iStream Network, Inc. on June 9, 2016 to acquire and "spin-off" iStream Network as its own separate trading entity by filing a Form 10 with the Securities and Exchange Commission. Should this spin-off occur, Cleartronic shareholders would retain a (12%) percent interest in the issued and outstanding stock of iStream. iStream would obtain its own CUSIP, be assigned its own trading symbol and be an independent company with a registered class of stock.
iStream broadcasts and delivers content globally from a multitude of venues, as well as, through relationships with entertainment companies. Proselect.us, a content provider recently executed an exclusive delivery agreement with iStream network. Proselect works with some of the top artists in the world, and their events have been viewed by millions worldwide.
"There are great synergies between the two companies," said Larry Reid, CEO of Cleartronic, "we envision using iStream technology in many facets of our business, and if the spin-off occurs we anticipate distributing Cleartronic's iStream shares to our shareholders of record as a special dividend."
"It just makes sense that two companies of like-mindedness work together in achieving their goals, we couldn't imagine a better opportunity than working together with Cleartronic," said Jory Staton, CEO of iStreamNetwork,Inc.
Larry Reid will be the featured guest on long running show "YOUR MONIES WORTH," hosted by Mick Bazsuly and Cynthia E. Ferguson LIVE from the Beasley Studios. The show will be today at 5pm and can be heard on 1470am South Florida as well as worldwide on the internet at Amp2.TV and the station's website www.wwnnradio.com.
About Cleartronic, Inc.
Cleartronic, Inc. (OTC PINK: CLRI) is a technology holding company that creates and acquires operating subsidiaries to develop, manufacture and sell products, services, and integrated systems to government agencies and business enterprises. ReadyOp™ is a secure, web-based platform providing organizations with a single site for planning, response, communications and documentation of personnel, tasks, assets and activities. Cleartronic currently has two operating subsidiaries, ReadyOp Communications, Inc. and VoiceInterop, Inc. - www.cleartronic.com.
For further information about this release, contact Rich Kaiser, Investor Relations, YES INTERNATIONAL, 800-631-8127, email@example.com, and www.cleartronic.com.
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