To get me money back and to let others know that it's got NO CASH
FLOW and is worth about 6 million dollars at this price level
and has nothing but HOT AIR going for it right now...
Look over their last 2 News Releases...
192.139.81.46@dockeywords+"stock=US"
NOTE THE TIME SPAN IN BETWEEN THE NEWS RELEASES...
And here is their latest and greatest financials...
USA Video Interactive Corp -
6mo results
USA Video Interactive Corp US
Shares issued 40,907,088 1998-08-31 close $0.1
Tuesday Sep 1 1998
Mr. Edwin Molina reviews the company
SIX MONTHS ENDED JUNE 30, 1998
USA Video Interactive is in the midst of some business developments.
The company foresaw the enormous potential of Video-On-Demand
technologies several years ago, and has now taken steps to position
itself to capitalize on important niche markets in the industry.
The company has entered into an agreement with LEARN, a regional
educational service centre serving 24 school districts in
Connecticut, to install its system at LEARN headquarters.
In Canada, USA Video has deployed a pilot project to distribute Video-
On-Demand over broadband connections to six regional schools. In
addition, one of its partners has completed a Video-On-Demand project
for the House of Commons, featuring a digitized archive-retrieval system.
USA Video's capabilities are further strengthened by its alliance
with Callisto Media Systems. Callisto provides video and broadband
networking expertise, media servers, MPEG encoders, operational
software and system integration support.
USA Video's alliance with Callisto has enabled it to develop a Video-
On-Demand system for video distribution from an Internet Protocol
based service to customers with broadband services.
In addition, USA Video and Rogers Network Services have signed a
memorandum of understanding. The primary objective of this
understanding is to deploy the company's Video-On-Demand technology,
using Rogers' network, to market segments that include government,
carrier, financial and other Standard & Poor's 500 commercial
organizations.
STATEMENT OF EARNINGS
Six months ended June 30
1998 1997
Expenses $203,971 $258,965
Other
Severance settlement 130,500 -
Web site costs 3,512 -
(Gain) loss on
sale of marketable
securities (2,760) (88,897)
Foreign exchange
loss 628 9,995
Joint venture loss - 41,018
-------- --------
Net loss $335,851 $221,081
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...ed |
