NEWS
I can't believe nobody has posted this yet.
Shareholders' Equity also increases over 13,000%
NEW YORK, May 14 /PRNewswire/ -- Intermost Corporation (OTC Bulletin Board: IMOT) today announced
financial results for its third quarter ended March 31. Sales revenues increased 56% over the previous quarter, to
$108,000 from $69,000. Net assets also increased from $6, 724 as of December 31, 1998 to $907,749 as of
March 31, 1999, an increase of over 13,000%. This increase in shareholder's equity was due to the completion of
a successful private placement for US $1 million.
Intermost saw a loss of $51,707 for the three months ended March 31, due to increased operating costs. Jun
Liang, President of Intermost, said, "During the last quarter, we dramatically increased the web-related services
that we offer to new clients. As a result, we also saw increased operating costs due to intensive sales and
promotional efforts. We've successfully secured a number of large enterprises as new clients, including publicly
listed companies in China, such as: the Shenzhen Development Bank, China Zhenhua (Group) Technology Co.,
Ltd., Hunan Jiuguijiu Co., Ltd., Guangzhou Development Industrial Holding (Group) Co., Ltd., and the Shangdong
Lubei Enterprises Group Co., Ltd."
Mr. Liang continued, "Our main website, www.ChinaE.com, is now the indisputably most popular business
database portal in China. Official government sources estimate that there are just over 2 million Internet accounts
in China -- our website gets over 1.2 million page views per month. We are continuing to upgrade and develop the
ChinaE.com site for it to continue being the premier business search engine in the market."
Intermost is the first US-listed information technology firm from China. The Company is an Internet content provider
in China, focused on business-to- business content hosting and maintenance. Intermost is a market leader in
providing services to large organizations and export-oriented companies.
Investor information can be found on the web at: www.MarketManagement.com or www.Intermost.com. Brokers
call Steve Smith at: (407) 834-4446.
"Safe Harbor"' Statement Under The Private Securities Litigation Reform Act of 1995: The statements in the press
release that relate to the Company's expectations with regard to the future impact on the Company's results from
new products in development are forward-looking statements, within the meaning of the Private Securities
Litigation Reform Act of 1995. The results anticipated by any or all of these forward-looking statements may not
occur.
SOURCE Intermost Corporation
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