In Media Corporation (OTCBB IMDC) Stock Up Over 50%
Shares of In Media Corporation (OTCBB:IMDS) are up over 50% with increased trading activity in the stock. Could be a decent bounce play as the stock was down over 30% for the last month entering today’s trading session. The Company is an integrator of Internet Protocol Television (IPTV) services, products and content for major platform and service providers (e.g. cable, satellite, and Internet providers). IN Media provides a combination of products and services: set-top box hardware and software services, manufacturing of the set-top boxes, library of content and content aggregation for platform providers to implement an all-in-one solution for IPTV services.
IMDC Recent News
The Company announced today that they have begun to ship new Android based Tablet PCs with Telephony capabilities using CDMA and GSM SIM Cards. N Media has integrated into their line of Tablet PCs the capability of using both CDMA and 3G GSM Modules for data accessing. The goal is to offer the most technologically competitive product line for international use in 7 and 9.7 inch formats.
In Media Corporation Financial Statement Highlights
There are currently 34,031,392 shares of common stock that are considered restricted securities under Rule 144 of the Securities Act of 1933 of which 33,781,392 shares are held by affiliates, as that term is defined in Rule 144(a)(1) and other shareholders. Under Rule 144, such shares can be publicly sold, subject to volume restrictions and certain restrictions on the manner of sale, commencing six months after their acquisition for those companies that have been subject to the reporting requirements of section 13 or 15(d) of the Exchange Act for a period of at least 90 days before the sale.
In November 2008, the Company licensed our engineering technology, IP and set top box designs (the “Licensing and Maintenance Agreement”) from Numerity and committed to pay maintenance and royalties of $415,000 per annum. On July 1, 2010, IMDC agreed with Numerity to amend that licensing agreement to provide a deferral of any further maintenance dues, and an extension of credit until three months after first commercial shipment.
The Company has an agreement with a Chinese distributor in which they will receive a margin of $20 on each unit of set-top box sold through that distribution channel, and an additional $5 per month per subscriber for content distribution contracts using our content library.
Source: March 24, 2012 10K IMDC
IMDC Stock Chart and Trading Highlights
30 Day Percent Change: 11.88
30 Day Moving Average: 0.1719
30 Day Average Volume: 69,623