Rande,
I bought some IMNI this morning before it made its gains on revenue news. This one is certainly worth a look. They received back their audited financial statements.
Company Press Release
AutoSmartUSA.com Outperforming Initial Projections
JERSEY CITY, N.J.--(BUSINESS WIRE)--Aug. 10, 1999--Interactive Multimedia Network, Inc., (OTC BB: IMNI - news)
announced today that it has just received its audited financial statements from the accounting firm of Williams and Webster located in Spokane, Washington.
These figures will be included in the company's Form 10-SB which will be filed with the Securities and Exchange Commission during the week of August 16th.
IMNI also announced today its revenue figures for the quarter ended June, 1999. These figures exceed gross revenue for all of fiscal 1999. On a consolidated basis,
including revenue from IMNI's e-marketing sales, and IMNI's subsidiaries, CPM and AutoSmart USA, gross revenue exceeded $ 2 million for the quarter.
More impressively, IMNI announced that AutoSmart USA exceeded one million dollars in gross revenue for the month of July, which in the automotive industry is
normally a slow sales month. AutoSmart USA is ahead of its recent sales projection. This increase is a direct result of the AutoSmart USA web site having become a
major Internet portal for the purchase or lease of new cars, trucks and SUV's, which can be accessed at www.autosmartusa.com.
Marketing Efforts Attract more Affluent Demographic...
IMNI utilizes its business paradigm 'Interactive Convergence' the use of Television, the Internet and Retail linked simultaneously to cross promote products and
services. IMNI advertises AutoSmart USA on television through one minute interactive direct response commercials and participation in IMNI's interactive home
shopping variety shows as the featured product. Schedules for the commercials include local and national sporting events, news and investment oriented shows.
Advertising banners on the Internet are placed in upscale web sites that cater to a more affluent demographic including: The Motley Fool, www.fool.com, and
TheStreet.com, www.thestreet.com. Additionally, IMNI's recently announced a Joint Venture with the Internet Marketing Consortium providing IMNI's banners
(for www.autosmartusa.com and www.Shop-the-Net.com) with over 240 million impressions per month.
In addition, AutoSmart USA hosts a radio show that airs in the south Florida market on one of the areas growing business radio stations. The radio promotion also
includes advertising commercials on sports personality radio featuring Florida sports and the Miami Dolphins.
The retail link in this case becomes the world's first walk-in Internet new car showroom at wholesale prices located in Pompano Beach, Florida and will soon include
locations in Dade and Palm Beach counties.
Safe Harbor Disclosure - This Press Release contains or incorporates by reference 'forward-looking statements,' including certain information with respect to plans
and strategies of Interactive Multimedia Network, Inc., Shop-the-Net.com and AutoSmart USA, Inc., and AutoSmartUSA.com. For this purpose, any statements
contained herein or incorporated herein by reference that are not statements of historical fact may be deemed to be forward-looking statements. Without limiting the
forgoing, the words 'anticipate(s),' 'believe(s),' 'expect(s),' 'intend(s),' 'plan(s),' 'project(s)' and similar expressions are intended to identify forward-looking
statements. There are a number of important factors that could cause actual events or actual results of IMNI and its subsidiaries to differ materially from those
indicated by such forward-looking statements.
Contact:
Interactive Multimedia Network, Inc., Jersey City
Richard J. Verdiramo, 888/217-4137
e-mail: verdiramo@shop-the-net.com
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