NEWS OUT:
Oasis Technology SRL Reports $1.5 Million Net Earnings for 2nd Qtr. 2000
CHARLOTTE, N.C., Aug 10, 2000 /PRNewswire via COMTEX/ -- Internet Multimedia
Corporation (OTC Bulletin Board: IIMC) announces today that its wholly owned
subsidiary Oasis Technology SRL produced net earnings for the 2nd Qtr. ending
June 30, 2000 of $1.5 million bringing net earnings year to date to $2.9 million
with projected net earnings for fiscal year ending 2000 of $6.1 million.
The company cited strong growth in its hardware and software business.
Internet Multimedia Corporation recently acquired 100% of Oasis Technology SRL,
of Verona, Italy. Internet Multimedia is a software and hardware technology
company with $6.5 million in tangible assets and has ongoing business in Greece,
Spain, the United Kingdom, and is currently expanding its business into the
United States and South America. Oasis' net earnings for fiscal 2001 are
projected to be between $20 million and $25 million.
Note: Safe Harbor Statement
Securities Litigation Reform Act of 1995: This release contains forward- looking
statements that are subject to risk and uncertainties, including, but not
limited to, the impact of competition, new and untested products, uncertainty of
revenues and earnings, fluctuations in stock price and liquidity, fluctuating
operating results, and other risks detailed from time to time in the company
filings with the Securities and Exchange Commission.
Contact:
Ed Knowles
VP Mergers and Acquisitions
21st Equity Partners, LLC
704-540-8138
edknowles@21ep.com
Clinton F. Walker
VP Marketing and Research
21st Equity Partners, LLC
704-540-8138
cwalker@21ep.com
Dave Wood
President/CEO
21st Equity Partners, LLC
704-540-8138
dwood@21ep.com
SOURCE Internet Multimedia Corporation
CONTACT: Ed Knowles, VP Mergers and Acquisitions, edknowles@21ep.com ,
or Clinton F. Walker, VP Marketing and Research, cwalker@21ep.com , or Dave
Wood, President and CEO, dwood@21ep.com , 21st Equity Partners, LLC,
704-540-8138, for Internet Multimedia Corporation
(IIMC) |
