Prospect Park Capital Corp. (CSE: PPK (“Prospect” or the “Company”) is pleased to provide a corporate update regarding 102130706 Saskatchewan Inc. (dba Tutors On Demand) (“Tutors On Demand”), a wholly owned subsidiary of the Company. Tutors On Demand has begun to initiate the conceptual build out of the first ever English as a Second Language (“ESL”) school within the Decentraland, one of the leading decentralized Metaverse worlds. Further to the Company’s press release dated December 8, 2021 announcing the Company’s virtual office services agreement with TerraZero Technologies Inc. (“TerraZero”), the office will now be a shared collective space where both Tutors on Demand and Diitalk Communications Inc. (“Diitalk”), a wholly owned subsidiary of the Company, can operate. The ESL school will operate through “EDSY”, Tutors On Demand’s recently launched TelEdTech product. Both Tutors On Demand and Diitalk will be afforded direct access within Decentraland to showcase and market their products and services.
Tutors On Demand intends to drive traffic to its location using concerts, events and educational open houses both within Decentraland, as well as in other Metaverses. The office space is located nearby Decentraland’s University district.
Anthony Zelen, a director of Prospect Park Capital Corp. And Tutors on Demand, commented:
We are very excited to be the first ESL school within the Metaverse. This will help establish Tutors On Demand as a leading future provider of online virtual learning tools. Tutors On Demand will promote and advertise its unique EdTech online learning platform “EDSY” to students within the Metaverse. Students will be able to begin studying the English language and participating in the Metaverse ESL classroom. In the future Tutors On Demand plans on offering additional languages and other subjects. Tutors On Demand will be rolling out a variety of programs and initiatives over-time. Web 3.0 and specifically the Metaverse offers a safe, efficient and fun environment and represents a new way to reach and interact with students and customers. Tutors On Demand will be establishing an early presence within the Metaverse and we believe it will provide us with new users, marketing opportunities and strengthen the Tutors On Demand brand. We are excited to be working with TerraZero, a knowledgeable and experienced Metaverse company”.
Over the coming weeks, Tutors On Demand intends to finalize the design and plan for its virtual office, including the creation of avatars to assist potential users and customers at its Decentraland office. The Company will announce a grand opening of its Metaverse office space and learning environment when it is ready and open to the public and students from around the world.
About the Metaverse
“The Metaverse is an expansive network of persistent, real-time rendered 3D worlds and simulations that support continuity of identity, objects, history, payments, and entitlements, and can be experienced synchronously by an effectively unlimited number of users, each with an individual sense of presence.”1
The Metaverse is a digital universe that combines multiple elements of technology for a range of human activities, including the integration of virtual spaces and virtual economies. Humans can enter the Metaverse using a virtual reality headset and can interact with each other at virtual events. The word “Metaverse” is made up of the prefix “meta” (meaning beyond) and the stem “verse” (a back-formation from “universe”); the term is typically used to describe the concept of a future iteration of the internet, made up of persistent, shared, 3D virtual spaces linked into a perceived virtual universe. The metaverse in a broader sense may not only refer to virtual worlds, but Internet as a whole, including the entire spectrum of augmented reality.
Decentraland is a decentralized virtual world platform where users (avatars) can create, experience and monetize content and applications. Visit: www.decentraland.org.
About Tutors On Demand
Tutors On Demand is a Canadian based company in the EdTech sector that connects qualified tutors and student learners who are seeking additional educational support. The platform is an effective, flexible, and affordable solution developed with responsiveness and the safety of interaction between tutors and students in mind. Tutors On Demand’s mandate is to help deliver courses online in a multitude of subjects, including math, sciences and languages in a secure, safe, and efficient environment.
ON BEHALF OF THE BOARD OF DIRECTORS
PROSPECT PARK CAPITAL CORP.
“Jim Greig” CEO & Director
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Neither the Canadian Securities Exchange nor its regulation services provider accepts responsibility for the adequacy of accuracy of this release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contain herein.
This news release includes certain statements and information that may constitute forward-looking information within the meaning of applicable Canadian securities laws. Forward-looking statements relate to future events or future performance and reflect the expectations or beliefs of management of the Company regarding future events. Generally, forward-looking statements and information can be identified by the use of forward-looking terminology such as “intends”, “expects” or “anticipates”, or variations of such words and phrases or statements that certain actions, events or results “may”, “could”, “should”, “would” or will “potentially” or “likely” occur. This information and these statements, referred to herein as “forward‐looking statements”, are not historical facts, are made as of the date of this news release and include without limitation, statements regarding discussions of future plans, estimates and forecasts and statements as to management’s expectations and intentions with respect to, among other things: the virtual office being able to accommodate a number of students, teachers, desks, chairs and educational tools; educators being given full control and ability to move around freely in the classroom; the office space operating through EDSY; Tutors On Demand and Diitalk being afforded direct access within Decentraland to showcase and market products and services; Tutors On Demand’s intention to drive traffic to its virtual retail location using events and educational open houses both within Decentraland, as well as in other Metaverses; establishing Tutors On Demand as a leading future provider of online virtual learning tools; Tutors On Demand promoting EDSY to students within the Metaverse; Tutor’s On Demand’s plans to offer additional languages and other subjects; Tutors On Demand rolling out a variety of programs and initiatives over time; that establishing an early presence within the Metaverse will provide Tutors On Demand with new users, marketing opportunities and strengthen the Tutors On Demand brand; and timing and announcement of the opening of the office space and learning environment in the Metaverse.
These forward‐looking statements involve numerous risks and uncertainties and actual results might differ materially from results suggested in any forward-looking statements. These risks and uncertainties include, among other things, risks related to the failure of the Company to obtain any necessary approvals, permits or licenses required to operate the business; impact of technology changes on the industry; disruptions in or attacks (including cyber-attacks) on the Company’s information technology, internet, network access or other voice or data communications systems or services; the impact of new and changes to, or application of, current laws and regulations; competition; increase in operating costs; the risk of loss of retain key employees and executives; the ability to implement business strategies and pursue business opportunities failure of counterparties to perform their obligations; the impact of the Covid-19 pandemic on the Company’s ability to operate and hire personnel; adverse general economic, market or business conditions; as well as those risk factors discussed or referred to in the Company’s disclosure documents filed with the securities regulatory authorities in certain provinces of Canada and available at www.sedar.com
In making the forward looking statements in this news release, the Company has applied several material assumptions, including without limitation, assumptions regarding the ability to accommodate a number of students, teachers, desks, chairs and educational tools; Tutors On Demand’s ability to set up and offer its products and services within Decentraland and other Metaverse platforms; early presence within the Metaverse will provide Tutors On Demand with new users, marketing opportunities and strengthen the Tutors On Demand band; the student and consumer base within the Metaverse; finalization of the design and plan for the Tutors On Demand virtual office, including the creation of avatars.
Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. Readers are cautioned that reliance on such information may not be appropriate for other purposes. The Company does not undertake to update any forward-looking statement, forward-looking information or financial out-look that are incorporated by reference herein, except in accordance with applicable securities laws. We seek safe harbor.
1 Matthew Ball, author of the extensive Metaverse Primer.