THE CYTTA-OWNED SHARES WOULD BE DISTRIBUTED TO THE CYTTA CORP SHAREHOLDERS OF RECORD AS OF A DATE TO BE ANNOUNCED LATER THIS YEAR.
LAS VEGAS, NV / ACCESSWIRE / June 21, 2022 / Cytta Corp (OTCQB:CYCA)( the 'Company') today announced the plan to create a subsidiary, Reticulate Micro ('Reticulate'), to focus exclusively on developing chipset solutions for multi-market adoptions based on Cytta's proprietary SUPR ISR (Intelligence, Surveillance, and Reconnaissance) system that delivers real-time compression of video streams for surface, airborne, and underwater ISR applications, including environments where video streams are transmitted beyond line-of-sight. This plan aims to accelerate the development of technology and market potential. Placing the SUPR video compression on an Application Specific Integrated Circuit (ASIC chip), the size of the head of a ballpoint pen, should allow for this technology to be incorporated in virtually every device that utilizes video. Imagine live streaming 4k or 8k video with limited bandwidth and experience minimal, if any, latency. The plan is to capitalize this entity and direct list to Nasdaq.
Michael Collins, Cytta's chief architect, will serve as its interim President and CTO. Michael Collins stated, 'We believe this strategy will enable us to pull together and incentivize a world-class team with the requisite domain experience and successful track records.'
All the Reticulate Micro shares owned by Cytta would first need to be registered in a registration statement filed with and subsequently declared effective by the SEC, which shares could then be distributed to the Cytta shareholders of record as of a date to be announced later this year.
Gary Campbell, CEO of Cytta stated, 'This should enable us to sufficiently capitalize this opportunity without diluting our current shareholders. Plus, we expect the value of Nasdaq shares as a pari passu dividend to be quite worthwhile-the larger a shareholder's position, the greater the dividend. Negotiations with a lead investment banker for a direct Nasdaq listing are progressing.'
More information will be released as it becomes available.
About Cytta Corp
Cytta Corp (OTCQB: CYCA) develops and distributes proprietary software technology to shift how the video/audio data is integrated, streamed, consumed, transferred, and stored. Cytta's proprietary IGAN Incident Command System (ICS) system integrates real-time any available video and audio streams during emergencies, enabling improved virtual policing. The IGAN ICS introduces real-time video and audio situational awareness, which Cytta believes is useful and valuable for police, firefighters, first responders, emergency medical workers, industry, environmental and emergencies, security, military, and command centers in a crisis.
Cytta has created advanced video/audio integration software, video compression, and portable/SaaS hardware/software systems that solve real-world problems in large markets. Cytta wants its products to enable and empower the world to consume higher-quality video anywhere. Cytta's ultimate goal is to deliver such high-quality video, in real-time, that is not discernible from reality with the naked eye, creating a virtual 'Reality Delivered.'
About Reticulate Micro:
Reticulate Micro's mission will be to create semiconductor chips based on Cytta's proprietary SUPR ISR (Intelligence, Surveillance, and Reconnaissance) system that delivers real-time compression of video streams for surface, airborne, and underwater ISR applications. It also includes environments where video streams are transmitted beyond sight. A SUPR-powered Chip on an autonomous system could generate videos that can be streamed securely in high definition through an extremely low bandwidth LEO satellite uplink (<22 kbps) with ultra-low latency. Our proprietary Intelligence, Surveillance, and Reconnaissance (ISR) technology are built around SUPR, a potent software codec, which is the technology at the core of our real-time video compression products. SUPR is explicitly designed for streaming HD, 4K, and higher resolution video in bandwidth-constrained environments while reducing required technical resources.
Gary Campbell, CEO
Direct (702) 900-7022
Michael Chermak, Chief Administrative Officer
Cell: (619) 977-7203
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SOURCE: Cytta Corp
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