SANTA MONICA, Calif., Nov. 30, 2004 (PRIMEZONE) -- iMedia International, Inc. (OTCBB:IMNL) announces that they have received clearance from the NASD for listing of the Company's common shares on the over-the-counter bulletin board. Trading on the OTC market began on Tuesday, November 23rd.
"This is a huge forward step for us. This opens up many doors to investment bankers and institutions that may have initially showed an interest in iMedia, but could not go-forward until we obtained our OTC status. My primary goal now is to began building a mature, stable public market for our shares," said Kelly Konzelman, Executive Vice President of iMedia International.
With the stringent `penny-stock' rules imposed by many brokerage compliance officers, the SEC and the NASD, many brokerage firms have been precluded from offering "Pink Sheet" stocks to their clients.
"We have been a fully reporting company and have traded on the Pink Sheets since before our reverse-merger in August of 2003. However, without an OTC listing, it has been difficult to generate any significant activity in our stock. Now that we have obtained our listing, some of those arbitrary barriers will now be lifted," concludes Mr. Konzelman.
About iMedia International Inc.
iMedia International, Inc. (IMNL) is a publicly held digital media solutions company producing DVD's, and CD-ROM's for digital multimedia marketing and promotional campaigns. iMedia publishes proprietary and custom digital iMagazines and offers expert digital media solutions services including: strategic planning, content aggregation and production, disc audio/video design, authoring, editing and compression, disc packaging manufacturing and distribution. A key feature of iMedia's technology is its iReporting(TM) real-time, online tracking system which provides quantitative data on disc viewer usage patterns and effectiveness of iMedia marketing and promotional campaigns.
The information in this news release includes certain forward-looking statements that are based upon assumptions that in the future may prove not to have been accurate and are subject to significant risks and uncertainties, including statements to the future financial performance of the Company. Although the Company believes that the expectations reflected in its forward-looking statements are reasonable, it can give no assurance that such expectations or any of its forward-looking statements will prove to be correct. Factors that could cause results to differ include, but are not limited to, successful performance of internal plans, product development and acceptance, the impact of competitive services and pricing, general economic risks and uncertainties, and various other information detailed from time to time in the Company's filings with the United States Securities and Exchange Commission. The Company undertakes no obligation to publicly revise these forward-looking statements to reflect events or circumstances that arise after the date thereof. Please refer to the full filing of the Company's Quarterly Report on Form 10-Q at http://www.sec.gov.