BUYINS.NET Announces Investment Opinion Update on iMERGENT, Inc.

NEWPORT BEACH, Calif. -- BUYINS.NET, www.buyins.net, is updating its coverage on iMERGENT, Inc. (AMEX:IIG) after releasing the latest short sale data through March 31st. Click here for an overview on the iMERGENT trade: http://www.buyins.net/tools/signals.php. Click here for the research report issued on April 12th, 2005: http://www.buyins.net/iig.pdf.

iMERGENT has been heavily shorted for the past 3 months due to the perception that its business model has undergone material punitive regulatory action. While iMERGENT's business does come under scrutiny from time to time, there have been no rulings or regulatory actions to date that we consider to materially affect the Company's business.

From March 1st to March 31st, short sellers attempted to short 3,403,900 shares of IIG and were filled on 2,616,300 shares at an average of $11.62 per share. The total dollar value of short sales in March was $30,404,933 (short data provided by AMEX). With the intraday price of IIG at $13.83 on May 10th, the average short sale from March is now considerably "out-of-the-money." While 865,000 shares were shorted in January at an average of $17.75 and 2,316,700 shares were shorted in February at an average of $20.04, the April 8th total outstanding short sales in IIG as reported by AMEX shows IIG to have 2,851,274 shares short. We expect that a number of short sellers from January and February have begun to cover their shorts and that the March short sellers, with an average short price of $11.62, more accurately reflect the size and price of the 2,851,274 shares short in IIG's stock.

iMERGENT has been on the AMEX Naked Short Threshold list for 42 consecutive days as of May 9th. Regulation SHO took effect January 3, 2005, and provides a new regulatory framework governing short selling of securities. It was designed with the objective of simplifying and modernizing short sale regulation and providing controls where they are most needed. At the conclusion of each settlement day, data is provided on securities in which: 1) there are at least 10,000 shares in aggregate failed deliveries for the security for five consecutive settlement days, and 2) these failures constitute at least 0.5% of the issuer's total shares outstanding. Regulation SHO mandates that, if a clearing agent has had a fail-to-deliver position for 13 consecutive settlement days, that clearing agent, and the broker/dealer it clears for, must purchase securities to close out its fail to deliver position.

All material herein was prepared by BUYINS.NET, based upon information believed to be reliable. The information contained herein is not guaranteed by BUYINS.NET to be accurate, and should not be considered to be all-inclusive. The companies that are discussed in this opinion have not approved the statements made in this opinion. This opinion contains forward-looking statements that involve risks and uncertainties. This material is for informational purposes only and should not be construed as an offer or solicitation of an offer to buy or sell securities. Please consult a broker before purchasing or selling any securities viewed on or mentioned herein.

BUYINS.NET will not advise as to when it decides to sell and does not and will not offer any opinion as to when others should sell; each investor must make that decision based on his or her judgment of the market.

Any information or opinion provided in this report/release does not solicit or make an offer to buy or sell any securities or any options, futures or other derivatives related to such securities herein. BUYINS.NET and its affiliates may trade for their own accounts in any securities of the issuer or in related securities. BUYINS.NET or its affiliates, directors, officers and employees, may have a long or short position in securities of the issuer or related investments. BUYINS.NET or its affiliates may from time to time perform investment banking or other services for, or solicit investment banking or other business from, any entity mentioned in this report/release. This research report/release has been prepared for general circulation and is circulated for general information only. It does not have regard to the specific investment objective, financial situation and the particular need of any specific person who may receive this report. Investors should seek financial advice regarding the appropriateness of investing in any securities or investment strategies discussed or recommended in this report/release and should understand that statements regarding future prospects may not be realized. Investors should note that income from such securities, if any, may fluctuate and that each security's price or value may rise or fall substantially. Accordingly, investors may receive back less than originally invested. Past performance is not indicative of future performance. Copyright 2005 BUYINS.NET. In the purview of Section 17(b) of the Securities Act of 1933 and in the interest of full disclosure, we call the reader's attention to the fact that BUYINS.NET has NOT been compensated by IMERGENT INC. or any third party or affiliate of IMERGENT INC. The author of this report, Thomas Ronk and/or his affiliates, have had an ownership position in IMERGENT INC. in the past, and so have members of his family or affiliates, and may profit in the event those shares rise in value. Market commentary provided by Thomas Ronk.

This release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. "Forward-looking statements" describe future expectations, plans, results, or strategies and are generally preceded by words such as "may," "future," "plan" or "planned," "will" or "should," "expected," "anticipates," "draft," "eventually" or "projected." You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors, and other risks identified in a companies' annual report on Form 10-K or 10-KSB and other filings made by such company with the Securities and Exchange Commission.

You should consider these factors in evaluating the forward-looking statements included herein, and not place undue reliance on such statements. The forward-looking statements in this release are made as of the date hereof and BUYINS.NET undertakes no obligation to update such statements.