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Microcap & Penny Stocks : USVO - USA Video Interactive

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To: harddog who started this subject8/14/2000 10:12:10 AM
From: Halbert  Read Replies (1) of 648
 
Finally OFF THE PINKS...

MYSTIC, Conn.--(BUSINESS WIRE)--Aug. 14, 2000--The U.S. Securities
and Exchange Commission ("SEC") has informed USA Video Interactive
Corp. (NQB: USVO; CDNX: US; www.usvo.com) that it has no further
comments on the company's Form 10 filing. USA Video Interactive is now
eligible to and has begun the process of being reinstated on the
Over-the-Counter Bulletin Board (the "OTC BB"). The company
anticipates that its common stock will resume trading on the OTC BB in
several days. The trading symbol will remain USVO.
"We are pleased that our strong commitment to this process has
resulted in clearing all of the SEC's comments on our Form 10 filing,"
said Edwin Molina, president and CEO of USA Video Interactive. He
added that, "The SEC engaged in a rigorous analysis of our business
model and operating results."
Under recent regulations, the NASD requires all OTC BB-traded
companies to be fully reporting under the Securities Exchange Act of
1934. The Form 10 registration establishes a public file containing
pertinent financial and other information on the company. USA Video
Interactive will report its financial and other information in
periodic filings such as the quarterly Form 10-Q and the annual Form
10-K, and will in addition report current developments on Form 8-K
whenever appropriate to announce material changes.

About USA Video Interactive

USA Video Interactive is an international designer and supplier of
high-tech Internet streaming video and Video-on-Demand(tm) systems,
services and innovative end-to-end solutions. The USA Video
Interactive technology gives users full-motion video; the unique
flexibility of standard, VCR-like controls of play, fast-forward,
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