SANTA MONICA, Calif., May 31, 2005 (PRIMEZONE) -- iMedia International, Inc. (OTCBB:IMNLE) (www.imedia-intl.com) announced today that their primary operating division iMedia US LLC has begun production on its fourth digital production for a major U.S. Television network. The interactive disc, which will be distributed in a two prominent national magazines, will feature previews and behind the scenes content for a new show that will be airing this summer.
Provided there are no delays experienced during manufacturing or distribution, the contract valued at $475,000, will likely be recognized all in the second quarter.
"We are beginning a new communications program that will help keep our shareholders and the public more aware of the wonderful progress we are making in building our business and revenues," said David MacEachern, CEO of iMedia International Inc. "Beginning this week, we will be releasing more financial information about our various projects and contracts as they are awarded or completed."
In the past, the Company has been restricted in releasing specific information about its clients or the digital solutions produced for them. Many of these large corporations do not wish to have their marketing strategies publicized. However, the Company believes that it is important to release more financial details of its operations; even if they are not able to disseminate the client's name or program details.
"As a public company, this has been a dilemma for us," Mr. MacEachern continues. "We think our solution to announce these larger contracts will help the public better appreciate the quarter-to-quarter revenue growth we continue to experience."
The new interactive disc is scheduled to be released to the public by the end of July.
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, delays in production or manufacturing that could effect the Company's ability to recognize the revenue during the second quarter, cancellation of the project by the client, 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.