Advanced Media, Inc. Announces Second Quarter 1996 Results.BOHEMIA Bohemia, Czech Čechy, historic region (20,368 sq mi/52,753 sq km) and former kingdom, in W and central Czech Republic. Bohemia is bounded by Austria in the southeast, by Germany in the west and northwest, by Poland in the north and northeast, and by , N.Y.--(BUSINESS WIRE)--August 28, 1996--Advanced Media Inc. (OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). BB:ADVI) a premier developer of Interactive and Internet based business solutions, today reported results for the second quarter ended June 30, 1996. Net revenues for the six months ended June 30, 1996 climbed to a record $1,707,394 from $1,212,932 for the prior year's period. Net revenues for the three months climbed to $969,127 from $418,619 in the prior year's comparative period. The increase in revenues is a reflection of the company's successful completion of an installation of retail solutions relating to relating to relate prep → concernant relating to relate prep → bezüglich +gen, mit Bezug auf +acc its pilot program for General Nutrition Corporation and an increase in tradeshow and exhibition revenues for its entertainment clientele. Net loss for the six and three month period ending June 30, 1996 was $1,277,914 and $395,537 compared to a net loss of $2,649,744 and $1,496,264 for the same periods a year earlier. During August 1996, the company's financial position was further strengthened through the conversion of certain liabilities to equity and the issuance of Convertible Preferred Stock Convertible Preferred Stock Preferred stock that includes an option for the holder to convert the preferred shares into a fixed number of common shares, usually anytime after a predetermined date. Also known as "convertible preferred shares". . The increase in revenues over prior periods has continued as a result of, among other factors, follow-up orders from various previous clients including General Nutrition Corporation. The company anticipates closing its previously announced Internet acquisition on or about Sept. 15, which along with the aforementioned strengthened balance sheet, should enable the company to move forward in its ongoing plan to enhance shareholder value and file its application for a listing on the NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on Small-Cap in the near future. Advanced Media creates and produces a broad range of interactive multimedia products for business, including touchscreen See touch screen. kiosk kiosk Originally, in Islamic architecture, an open circular pavilion consisting of a roof supported by pillars. The word has been applied to a Turkish summer garden pavilion and a type of early Persian mosque. systems, database management technologies, web sites, and internet projects. Any forward looking statements contained in this release reflect management's current intentions and expectations. Actual future results could vary materially depending on certain risks and uncertainties, including, but not limited to, such factors such as financing, and operational spending. CONTACT: Advanced Media, Inc. 516/244-1616 |
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