Broadcast International Plans IPO on Oslo Stock Exchange.SALT LAKE CITY -- Broadcast International (OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). : BCST BCST Broadcast BCST Bachelor of Computer Science and Technology BCST Battle Command and Staff Training BCST Biodynamic Craniosacral Therapist "BI") has engaged First Securities ASA Asa (ā`sə), in the Bible, king of Judah, son and successor of Abijah. He was a good king, zealous in his extirpation of idols. When Baasha of Israel took Ramah (a few miles N of Jerusalem), Asa bought the help of Benhadad of Damascus and to carry out an initial public offering (IPO (Initial Public Offering) The first time a company offers shares of stock to the public. While not a computer term per se, many founders, employees and insiders of computer companies have found this acronym more exciting than any tech term they ever heard. ) of the Company's common shares on the Oslo Stock Exchange Oslo Stock Exchange An exchange founded in 1819 and trading stocks, bonds, and stock options that is considered the options market of Norway. . The Company expects to issue up to $25 million in new shares in connection with the IPO. The expected timing of the IPO will be fourth quarter of 2005 or first quarter of 2006. Rod Tiede, CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Broadcast International, stated, "Broadcast has a number of international investors, among them many Scandinavian shareholders. At the same time, Broadcast is experiencing a growing number of business opportunities and projects requiring additional funding to the Company. Hence, we are excited about working with one of the largest and most well established investment banks The following is a list of investment banks Financial conglomerates Large financial-services conglomerates combine commercial banking and investment banking, and sometimes insurance. in Norway to further broaden our shareholder base." The deal is subject to normal and customary due diligence Research; analysis; your homework. This term has caught on in all industries, because it sounds so "wired." Who would want to do analysis or research when they can do due diligence. See wired. on the part of First Securities and its advisors. First Securities will have an exclusive right (except the agreements already in place with the company and other third parties) to provide other investment banking services regarding mergers, acquisitions and the like. The offering will be on a "best efforts" basis and sales will be made only to non-US residents. BI will be required to apply for and be accepted on the Oslo Stock Exchange. About Broadcast International Broadcast International is a leading provider of video-powered business solutions, including IP and digital satellite, Internet streaming, and other types of wired/wireless network distribution. In addition, BI assists clients with video production, rich media development and a full range of network support services support services Psychology Non-health care-related ancillary services–eg, transportation, financial aid, support groups, homemaker services, respite services, and other services . BI also possesses a patent-pending technology, CodecSys, which provides enhanced video at current bandwidths or reduce the cost of bandwidth while maintaining quality. Broadcast International was founded in 1984 and is a public company (OTC BB: BCST) headquartered in Salt Lake City, UT. For more information, visit www.brin.com, www.codecsys.com or call (801) 562-2252. Forward-Looking Statements This Press Release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Any statements about our expectations, beliefs, plans, objectives, assumptions or future events or performance are not historical facts and may be forward-looking. These statements are often, but not always, made through the use of words or phrases such as "anticipate," "estimate," "plan," "project," "continuing," "ongoing," "expect," "management believes," "we believe," "we intend" and similar words or phrases. Accordingly, these statements involve estimates, assumptions and uncertainties that could cause actual results to differ materially from those expressed in them. Any forward-looking statements are qualified in their entirety by reference to the factors discussed throughout the agreement with First and this Form 8-k Form 8-K The form required by the SEC when a publicly held company incurs any event that might affect its financial situation or the share value of its stock. Form 8-K See 8-K. . Among the key factors that could cause actual results to differ materially from the forward-looking statements are the following: (1) the inability of First to sell shares in countries outside of the United States; (2) a change in the investment environment in Europe and in particular, Norway; (3) Failure of the Registrant to satisfy the due diligence inquiries of First; and (4) Failure of the Registrant to qualify for listing of its securities on the Oslo Stock Exchange. |
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