Hope no one is holding this one
(Comtex 12/08 15:46:43)
B: Internet Multimedia Corporation Announces Reverse Split
CHARLOTTE, N.C., Dec 8, 2000 /PRNewswire via COMTEX/ -- The Board of Directors
of Internet Multimedia Corporation (OTC Bulletin Board: IIMC) (IIMC) recommended
to the Shareholders that it is advisable for a reversal of the shares. Based
upon the recommendation of the Board, a majority of the Shares entitled to vote
consented to the action, pursuant to Nevada law. The Shareholders of record as
of Dec. 11th, 2000 will have all shares held reversed 30 to 1. The Company
considers this reversal to be in line with the Company's long-term strategy of
growth through acquisitions in addition to growing revenues through contractual
sales. This reversal will also aid to the pursuit of a listing on Nasdaq. The
Company's European consultants are in the process of preparing for a listing on
Easdaq.
The Board of Directors has also approved a resolution for renaming the Company
to AmEurotech Corporation, and has begun taking the appropriate steps for both a
name change and ticker symbol change. C.E.O. Stefano Zorzi states, "Our products
are being well received in the European market, and we anticipate earnings to
exceed original expectations for 2001. U.S. operations are in the process of
increasing both administrative and sales personnel and are currently employing
over 40 people world-wide."
Megatronica S.P.A., the Company's sole distributor of products in Greece and
Cypress have launched a major television advertising campaign. The ad features
AmEurotech's new product lines including the Ios amusement machine which
utilizes the Company's revolutionary 3-D graphics engine, N.O.A.(R) AmEurotech
and Megatronica, in a joint effort, are hosting an exposition this weekend to
exclusively promote AmEurotech's products.
Safe Harbor Statement: Securities Litigation 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.
SOURCE Internet Multimedia Corporation |
