I-Media Announces Sale of WV Fiber Network.I-Media to Use Capital Gain and Working Capital from Sale to Accelerate Launch of Video Streaming See streaming video and video stream. Services and Peer-to-Peer Video Communities
ATLANTA -- Integrated Media Holdings, Inc. (OTCBB OTCBB
See OTC Bulletin Board (OTCBB). :IMHI IMHI Institute for Mental Health Initiatives
IMHI International Masters in Hydroinformatics ) announced today that it has entered into an agreement to sell its subsidiary WV Fiber Inc. to Ultra Global Investment LLC (Logical Link Control) See "LANs" under data link protocol.
LLC - Logical Link Control as of March 31, 2007.
Ultra Global is owned by Peter Marcum and Harish Shah, both directors of I-Media, who will resign from the I-Media board upon closing of the sale. Under the sale agreement, I-Media will receive an estimated $3.9 million, consisting of $200,000 in cash, retirement of approximately $2.5 million in short term debt, and the retirement of approximately 8 million shares of common stock and derivatives. In addition, Endavo Media and Communications, Inc., an I-Media subsidiary, has signed a 3-year preferred pricing contract for network and facility services with WV Fiber that will support the rollout of Endavo Media's digital broadcast network and products planned this year.
The WV Fiber sale was approved by the Integrated Media board of directors and by majority shareholders of the company. The companies are accounting for the sale as of March 31, 2007. The transaction is expected to be declared effective approximately 20 days after the mailing of the notice to shareholders and filing of the Information Statement with the SEC, which occurred Monday.
"The sale of our WV Fiber unit enables us to intensify our focus on our core business of digital media services, which is now poised for rapid growth," commented Paul D Hamm, I-Media 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. . "Beyond the sale, we're also happy to continue working with WV Fiber management in a number of ways. Having entered into a favorable network and facility agreement with them represents an important component of our financial outlook over the next few years, both in terms of providing network infrastructure for our expansion plans and lowering our operating costs operating costs npl → gastos mpl operacionales so that we can remain competitive during our initial expansion phase."
Additionally, the sale of WV Fiber coincides with the upcoming launch of multiple streaming services and peer-to-peer video communities powered by Endavo Media, which represents the first wave of new growth for the company in the area of digital entertainment & media distribution.
Integrated Media Holdings, Inc. (OTCBB:IMHI), headquartered in Atlanta, GA, invests in, builds and operates innovative digital communications Transmitting text, voice and video in binary form. See communications. and media technologies businesses to create a fully-integrated digital commerce ecosystem that supports multiple forms of distribution for entertainment, media, and communications services over broadband. For more information, please visit www.i-mediaholdings.com, call (678)222-3445 or email firstname.lastname@example.org
Endavo Media and Communications, Inc. is a leading architect of Internet entertainment, information and social communities that enable content owners to distribute content to broad audiences through the Internet, IPTV (Internet Protocol TV) Also called "TV over IP," IPTV delivers scheduled TV programs and video-on-demand (VOD) via the IP protocol and digital streaming techniques used to watch video on the Internet. , and portable handheld consumer electronics. Endavo also provides the tools to promote, monetize, and monitor digitally broadcasted programming, whether through ad-based, subscription or pay-per-view models. For more information, please visit www.endavomedia.com or call 877-843-7242 ext. 81 for sales or ext 800 for investor relations Investor relations
The process by which the corporation communicates with its investors. .
Safe Harbor Safe Harbor
1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated.
2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. statement under the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995: Statements in this news release looking forward in time involve risks and uncertainties, including the risks associated with the effect of changing economic conditions, trends in the products markets, variations in the Company's cash flow, market acceptance risks, technical development risks, seasonality and other risk factors detailed in the Company's Securities and Exchange Commission filings.