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INTERACTIVE MEDIA TECHNOLOGIES REPORTS THIRD QUARTER RESULTS AND NEED FOR ADDITIONAL FINANCING

 INTERACTIVE MEDIA TECHNOLOGIES REPORTS THIRD QUARTER RESULTS
 AND NEED FOR ADDITIONAL FINANCING
 SCOTTSDALE, Ariz., Feb. 25 /PRNewswire/ -- Interactive Media Technologies Inc. (NASDAQ: IMTX) has reported sales revenues of $12,799 and a net loss of $1,340,160, or ($.07) per share, for the fiscal third quarter ended Dec. 31, 1991, compared to third quarter revenues of $19,900 and a net loss of $1,131,886, or ($.07) per share, for the prior year. In addition, the company had a working capital deficit of $2,226,502 as of Dec. 31, 1991.
 IMT has been informed by NASDAQ that based on the quarterly report it no longer qualifies to be listed on the exchange. NASDAQ has allowed IMT until March 10, 1992 to appeal or correct the deficiency.
 The company reported that it is in critical need of additional financing to continue its operations. While certain of its creditors have indicated a willingness to defer the receipt of payment while the company seeks additional financing, IMT continues to experience severe liquidity and cash flow problems as sales of the company's principal product, the IMTX 8000, have developed significantly slower than previously expected.
 Varian Tempe Electronics Center, the manufacturer of the IMTX 8000, has notified the company of its intent to exercise its right to draw down the Letter of Credit which is the security covering certain unpaid invoices to the amount of $500,000. This requires the company to replenish within five business days the $500,000 in the certificate of deposit account securing the letter of credit in order to comply with the Canon loan agreements.
 IMT's efforts to address the market for its products is being hampered by the lack of operating capital and the weight of its existing financial obligations. While the company is actively seeking additional debt and/or equity financing, these efforts have had limited success thus far.
 If the company is unable to obtain the required financing in the near future, it will have to consider its alternatives, which may include seeking protection under the Federal Bankruptcy Code.
 -0- 2/25/92
 /CONTACT: Arethea Erwin of Interactive Media Technologies Inc., 602-443-3093/
 (IMTX) CO: Interactive Media Technologies Inc. ST: Arizona IN: SU: ERN


EH-AL -- LA010 -- 2305 02/25/92 11:37 EST
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Publication:PR Newswire
Date:Feb 25, 1992
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