Printer Friendly

INTERACTIVE MEDIA TECHNOLOGIES ANNOUNCES NEW PRODUCT AND RELATED FINANCING PLAN

 INTERACTIVE MEDIA TECHNOLOGIES ANNOUNCES
 NEW PRODUCT AND RELATED FINANCING PLAN
 SCOTTSDALE, Ariz., Aug. 11 /PRNewswire/ -- Interactive Media Technologies Inc. announced that it has developed the software to deliver a full-featured videotape editing system to corporate communicators. The IMTX Edit101(TM) is planned for launch in the fourth quarter.
 The company is currently attempting to raise $200,000 in debtor- in-possession financing from qualified lenders to finance the new product launch and other operating expenses. The company plans to offer significant incentives to lenders.
 IMT filed for protection under Chapter 11 of the Bankruptcy Code on March 4, 1992. Since then, it has significantly reduced its expenses and has developed a new sales strategy which includes the new product. The company anticipates filing a plan for reorganization to emerge from bankruptcy. If the reorganization plan is confirmed, the company intends to seek $600,000 in further financing to achieve a total of $800,000 believed needed.
 The IMTX Edit101 is a professional quality videotape editing system which is controlled by an IBM PS-2(TM) or compatible computer. The IMTX Edit101 allows a novice or occasional user to produce effective video tapes with only a few minutes' orientation. A corporate communicator can use parts of existing company videos, material from a camcorder and voice or music to produce a custom videotape.
 IMT is now seeking initial customers for the IMTX Edit101(TM). The company plans to establish a few customer sites for the purpose of conducting a field test prior to a full product launch. IMT is offering those qualifying customers a significant discount, extraordinary user support and free software upgrades for the first year.
 The company will also continue the IMTX 8000(R) product line. Systems integrators have had significant success in using the IMTX 8000 with installations involving presentations, video walls, automated access to video archives and automated theme park exhibits.
 Interactive Media Technologies specializes in computer-based interactive video products which include proprietary hardware and software systems.
 -0- 8/11/92
 /NOTE: IMTX is a registered trademark of Interactive Media Technologies Inc.; PS-2 is a trademark of International Business Machines Corp./
 /CONTACT: Eva Grimmett of Interactive Media Technologies at 602-443-3093/ CO: Interactive Media Technologies Inc. ST: Arizona IN: CPR SU: PDT BCY


LS-KJ -- LA027 -- 9106 08/11/92 16:18 EDT
COPYRIGHT 1992 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1992 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Aug 11, 1992
Words:381
Previous Article:KPMG PEAT MARWICK EXECUTIVE HONORED WITH WILDMAN MEDAL; ANNOUNCES GRANTS FOR AFRICAN-AMERICAN ACCOUNTING SCHOLARS
Next Article:THE SOUTHWEST MUSEUM PRESENTS AN INTERTRIBAL MARKETPLACE
Topics:


Related Articles
ORACLE NEW MEDIA SOFTWARE PRODUCTS TO RUN ON ONLINE MEDIA'S NEW SET-TOP PLATFORM
MORGAN INTERACTIVE CLOSES SECOND ROUND OF FINANCING WITH PACIFIC MANDARIN ASSETS, LTD. AND ITOCHU TECHNO-SCIENCE CORPORATION
True North Communications Inc. Combines Operations of TN Technologies with Modem Media
True North Communications Inc. Combines Operations of TN Technologies With Modem Media; Announces Plan for TN Technologies IPO
Gateway to Adopt 3Dfx Voodoo2 3D Entertainment Platform in Destination Family of PCs
media.com and Grey New Technologies Group Announce Partnership with Flycast Communications.
Perceptronics and Brilliant Media Form Internet 3D Strategic Alliance.
Liberty Digital Completes $50 Million in Internet Investments; Investment Strategy Focused on E-Commerce and Interactive Media Ventures.
Insight Communications Agrees to Launch Wink Enhanced Broadcasting(TM) On Source Media's Virtual Modem Enabled Digital Set-Top Boxes.
Bulldog and Sun Microsystems Announce Content BOSS Financing Program.

Terms of use | Copyright © 2017 Farlex, Inc. | Feedback | For webmasters