Integrated Communication Network Inc. completes initial public offering.MIAMI--(BUSINESS WIRE)--June 29, 1995--Integrated Communication Network Inc. (NASDAQ/NMS:ICNI ICNI International Conference on Natural Intelligence ICNI Integrated Communications, Navigation & Identification ICNI Improved Communications, Navigation and Identification ) today announced the successful completion of an initial public offering of 1,200,000 shares of common stock at $5 per share by the New York-based Hampshire Securities Corp. The company's common stock began trading today 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 National Market. ICNI, based in Miami, is a direct response marketing company which produces infomercials and commercials in Spanish and English to consumers in the United States, Puerto Rico and Canada. All commercials and infomercials produced for Hispanic audiences are filmed in Spanish without subtitles. The company said in its prospectus that it expects to become a dominant force in the global Hispanic market place for all direct response. The current Hispanic market in the United States represents $214 billion in buying power Buying Power The money an investor has available to buy securities. In a margin account, the buying power is the total cash held in the brokerage account plus maximum margin available. Also referred to as "Excess Equity. . Numbering 25 million people, it is growing at a rate of 53 percent faster than the growth rate of the United States population. By 2015, people of Hispanic origin are expected to be the largest single minority group in the U.S. Beyond the U.S. market, the company plans to penetrate the untapped Latin American market, particularly Mexico, Chile and Argentina, and the European market in Spain. Under the leadership of 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. David Greenberg, CFO See Chief Financial Officer. Donald Mann, Vice Presidents Rosario Moreno and Mario Beguiristain, ICNI has signed exclusive rights to Hispanic celebrity chef and entertainer Chef Pepin, Mexican film star Rosa Gloria Chagoyn, Mexican film and soap opera star Salvador Pineda, advice columnist Maria Regina, a columnist similar to Dear Abby in the general market and other noted celebrities. ICNI is currently airing a number of infomercials, supported by related commercials, in the United States, Puerto Rico and Canada. The company has agreements to produce two additional infomercial projects. One of these is expected to be a series of infomercials featuring Chef Pepin promoting a variety of housewares house·wares pl.n. Cooking utensils, dishes, and other small articles used in a household, especially in the kitchen. and kitchen products. The other is intended for general market, featuring Jacqueline Stallone, Sylvester Stallone's mother, in a psychic/astrological show format. CONTACT: Integrated Communication Network Inc., Miami David Greenberg, 305/530-0200 or Stern & Co., New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of Jeffrey Goldberger, 212/777-7722 |
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