- Companies Save Dollars and Go Green
CARLSBAD, Cali., Feb. 13, 2008 digital OutPost, a leader in digital media production and video compression, announced the launch of an interactive, electronic annual report, VforumTM Annual Report, which allows companies to save on printing and mailing expenses. The digital format is compliant with the U.S. Securities and Exchange Commission (SEC) Paper Reduction Act, mandating that reporting companies should make all corporate and financial documents available over the Internet. In the July 26, 2007 ruling, the SEC stated, “As technology continues to progress, accessing the proxy materials on the Internet should increase the utility of our disclosure requirements to shareholders. Information in electronic documents is often more easily searchable than information in paper documents. Shareholders will be better able to go directly to any section of the document that they are particularly interested in." The SEC estimates that $481.2 million was spent in postage and printing fees alone to distribute paper proxy materials to beneficial owners during the 2006 proxy season. Industry reports that approximately 81% of the costs associated with printing and mailing can be saved.
Companies supply their annual report information, desired slides and messaging, and digital OutPost produces an Internet accessible multimedia Vforum Annual Report. By simply clicking on a web link, shareholders will see and hear directly from the CEO and management team instead of reading a traditional static report. A searchable environment with graphs, diagrams, photographs and easy-to-navigate tabs allows shareholders to quickly find financial highlights, product information, forward strategy and management updates. Brian Douglass, digital OutPost’s President states, "We have developed the technology that allows any company to offer a multimedia annual report from their web site which will improve communications to shareholders, reduce expenses and make an impact on the reduction of paper." digital OutPost, located in Carlsbad, has been creating innovative digital audio/video services since 1996. Today digital OutPost continues its vision of breakthrough technology with the unshakeable belief that through better technology and better communication, better business is possible. The company offers in-house, turnkey solutions for clients nationwide. Please visit www.dop.com/vforumar/ to view a 30-second video introducing the Vforum Annual Report and contact Meg Purvis (firstname.lastname@example.org) for details (800) 464-6434. For more information on digital OutPost, visit www.dop.com.