USA Video Interactive Resumes Trading
On Over-the-Counter Bulletin Board
MYSTIC, Connecticut, August 29, 2000 - The common stock of USA Video Interactive (OTC BB: USVO; CDNX: US; www.usvo.com) resumed trading today on the Over-the-Counter Bulletin Board (OTC BB), following reinstatement by the National Association of Securities Dealers. Reinstatement follows acceptance of the company's Form 10 filing earlier this month by the Securities and Exchange Commission.
While the company's common stock began trading on the OTC BB immediately upon reinstatement today, it is expected to take several days for the transition to be complete and for the company's stock to be reflected on all electronic trading websites. During the transition period, the shares also will continue trading on the Pink Sheets.
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. The Company is reporting 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 systems, services and innovative end-to-end solutions. The USA Video Interactive patented video technology gives users full-motion video; the flexibility of standard, VCR-like controls; and the convenience of a standard internet-browser format for access. It provides video images significantly faster and at a higher degree of resolution than with previously available methods; significantly overcomes bandwidth restrictions; and eliminates the blockiness and slowness of current technologies -- all at a lower cost and at or near broadcast quality. USA Video Interactive is nearing completion of a patented Wavelet compression technology that will further enhance the company's ability to deliver Internet video to home modem users and reduce storage and download time requirements for all users, including those with broadband connections. For more information on USA Video Interactive, visit usvo.com
For more information on USA Video Interactive, visit www.usvo.com. USA Video Interactive Corporate Headquarters Office: 70 Essex Street; Mystic, CT 06355; (800) 625-2200; (860) 572-1560. Canada Office: 837 West Hastings Street; Suite #507; Vancouver, B.C. V6C 3N6. Trading symbol on the US NBQ: USVO; Trading symbol on The Canadian Venture Exchange: US. Standard & Poors Listed. CUSIP 902924208; USA Video, USA Video Interactive, Video-On-Demand and Video Yellow Pages are trademarks of USA Video Interactive.
The Canadian Venture Exchange (CDNX) has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. For more information contact: Tony Castagno, Media Relations, 860-572-1560; Kevin Yorio, Investor Relations, 860-572-1560; info@usvo.com This press release may contain forward-looking statements. Actual results may differ materially from those projected in any forward-looking statement. Investors are cautioned that such forward-looking statements involve risk and uncertainties, which may cause actual results to differ from those described. |
