THIS IS THE LAST I HEARD FROM THEM. TAKE A LOOK
New Visual Entertainment Clarifies Acquisition of Impact Pictures; Announces Lau
/FROM PR NEWSWIRE LOS ANGELES 213-626-5500/
TO BUSINESS AND TECHNOLOGY EDITORS:
New Visual Entertainment Clarifies Acquisition of Impact Pictures;
Announces Launch of Web Animation Division
SAN DIEGO, Jan. 5 /PRNewswire/ -- New Visual Entertainment, Inc.
(OTC Bulletin Board: NVXE) is pleased to announce that it has completed the
acquisition of Impact Pictures, Inc., a small San Diego-based multi-media
production firm specializing in web animation, streaming media, and high-end
CD-ROM corporate presentations in a stock for stock transaction. Impact
Pictures is now a wholly-owned subsidiary of New Visual.
The Company intends to utilize the creative hardware and staffing assets
of Impact Pictures to launch its own multi-media and web animation services
division in mid-January or early February of this year. The acquisition comes
as New Visual approaches what it considers to be a media revolution where
internet publishing will soon adopt traditional business models for content
developers in entertainment, advertising, and corporate content development.
New Visual announced earlier last year its plans to acquire a broadband
technology for the purpose of developing and delivering premium flat and 3D
content over twisted copper pairs at up to 51.2 Mb/second. The Company
believes that the recent acquisition of Impact will dovetail with its web-
based goals to develop streaming media and 3D content that the average
internet consumer can access in seconds. Headquartered in San Diego, the
multi-media and web animation services division will also redesign and upgrade
the Company's somewhat dated website, newvisual.com, which should be fully
upgraded with flash technology by mid-to-late February.
New Visual Entertainment, Inc. is a true stereoscopic 3D production
company that specializes in 3D product development and distribution for
special venue theaters, home video, broadcast, and theatrical markets by
utilizing patented technology for the creation and exhibition of 3-dimensional
media. . Its stock is traded on the Nasdaq stock market's over-the-counter
bulletin board under the symbol NVXE. Lilly Beter Capital Group, Ltd., with
offices in Washington, DC, New York, California, Florida, Minnesota, Illinois,
Gibraltar, Turks and Caicos Islands, and the British West Indies, is providing
investor relations for the Company and can be reached at 561-361-1030.
With the exception of historical information contained in this release,
this release includes forward-looking statements made under the "Safe Harbor"
provisions of the Private Securities Litigation Reform Act of 1995. These
statements involve risks and uncertainties that could cause actual results to
differ materially from those in the forward-looking statements, including but
not limited to the following: product development difficulties; market demand
and acceptance of products; the impact of changing economic conditions;
business conditions in the internet, computer, and 3D film and video
industries; reliance on third parties including potential suppliers, licensors
and licensees; the impact of competitors and their products; risks concerning
future technology; and other factors detailed in this release and in the
Company's Securities and Exchange Commission filings.
SOURCE New Visual Entertainment, Inc.
/CONTACT: New Visual Entertainment, nvxe@newvisual.com, or InvestorRelations
for New Visual Entertainment, 561-361-1030/
/Web site: newvisual.com
Jan-05-2000 08:45 GMT
Symbols:
US;NVXE
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