LOS ANGELES--(BUSINESS WIRE)--Loton, Corp. (LTNR) announced that music industry veteran Ivan Gavin has joined the Loton, Corp. Advisory Board.
Mr. Gavin is a music industry veteran who most recently served as Chief Operating Officer of Universal Music’s east coast labels, Republic Records & Island Def Jam. Formerly, Ivan was COO of Sony Music Entertainment's RCA/Jive Label Group, COO of EMI Music North America, and EVP Commercial Operations at Zomba Group (owned by Sony Music Entertainment). He began his career in music at Chrysalis Records, where he served as the label's Chief Financial Officer.
“I am thrilled to contribute my two decades of experience in the music industry in advising Loton with regards to its new initiatives,” commented Mr. Gavin.
“Ivan is a music industry luminary with key industry experience and relationships. He will be a valuable member of our Loton team,” commented Robert Ellin, Chairman and Chief Executive Officer of Loton, Corp. “We are recruiting stellar industry and financial professionals to accelerate our entry into the music, entertainment, and branding segments.”
About Loton, Corp.
Loton, Corp. is currently considered to be a “blank check” company. The U.S. Securities and Exchange Commission (the “SEC”) defines those companies as “any development stage company that is issuing a penny stock, within the meaning of Section 3(a)(51) and Rule 3a51-1 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), and that has no specific business plan or purpose, or has indicated that its business plan is to merge with an unidentified company or companies. The Company’s principal business objective for the next 12 months and beyond such time will be to achieve long-term growth potential through a combination with a business rather than immediate, short-term earnings. The Company will not restrict its potential candidate target companies to any specific business, industry or geographical location and, thus, may acquire any type of business.
Forward Looking Statement
Statements in this news release concerning future results from operations, financial position, economic conditions, product releases and any other statement that may be construed as a prediction of future performance or events are forward-looking statements which involve known and unknown risks, uncertainties and other factors which may cause actual results to differ materially from those expressed or implied by such statements. These factors include uncertainties as to levels of orders, ability to record revenues, release schedules, market acceptance of new products, changes in economic conditions and market demand, pricing and other activities by competitors, and other risks including those described from time to time in the Company’s filings on Forms 10K and 10Q with the Securities and Exchange Commission (SEC), press releases and other communications.