omniture

New Management, New Vigor - Intermost in Full Swing

2007-02-15 18:27 4860


SHENZHEN, China, Feb. 15 /Xinhua-PRNewswire/ -- The Intermost Corporation (OTC Bulletin Board: IMOT), a leading electronic online equity exchange service provider in China, released its second quarterly report yesterday. The report reveals improving financial performance under the administration of the new management. Total revenue in this quarter reached approximately USD $700,000, an increase of 150% compared to the previous quarter's USD $280,000; and net income is around USD $330,000. The report also demonstrates that the company is running soundly and nearly debt free.

The new management of Intermost joined the company and took charge in September, 2006. Since their appointment, they've been tackling the historical problems of the company and exploring new business opportunities. The Intermost Corporation is constructing a nationwide electronic exchange platform in China by increasing shareholding in regional equity exchanges and assist them in realizing electronic trading and global financing. At present, Intermost owns a 15% share in the Shenzhen International Hi-Tech Property Right Exchange Center ("Shenzhen Exchange") and a 21% share in the Hainan Special Economic Zone Property Rights Exchange Center.

Business incubation, a value-added service of the equity business, has also made great progress. The Shenzhen Golden Anke Technology Ltd., in which Intermost holds a 51% share, has expanded rapidly during the two years' incubation. Intermost has agreed with other shareholders on the listing of Golden Anke. When it successfully goes public, its funding capability will be substantially increased, as well as the equity interest of the Intermost Corporation.

In addition to equity-related business and enterprise incubation, VoIP (Voice over Internet Protocol) business also brought in a pleasing revenue, i.e. above USD $450,000.

Acting CEO of the Intermost Corporation Mr. Xiangxiong Deng, who is also the Board Vice-Chairman of the Shenzhen Exchange, said with great satisfaction, "In only four months of operation, the new management has grasped golden opportunities to boost our businesses. We will endeavor to increase the shareholding position in the Shenzhen Exchange, and to strengthen relations with other leading equity exchanges. Revenues from equity-related business will increase substantially and it will be reflected in financial reports from next quarterly. We are anticipating a brand new horizon."

About the Intermost Corporation

Founded in the USA in September 1998, the Intermost Corporation was the first Chinese Internet company listed on the US OTC Bulletin Board (stock symbol: IMOT) in December 1998. The Intermost Corporation has focused its services on the booming Equity Exchange Market in China, including equity-related solution development, equity quotes and information provision, electronic online equity exchange services, direct investment in regional equity exchanges, business incubation services for well-performing innovative enterprises, investment consulting services for overseas listings, the equity portal website -- China Equity Exchange Platform ( http://www.chinae.com ), and otherwise.

Safe Harbor Statement

This press release contains forward-looking statements that involve risks, uncertainties and assumptions that, if they never materialize or if they prove incorrect, could cause the Company's results to differ materially from those expressed or implied by such forward-looking statements. All statements other than statements of historical fact are statements that could be deemed forward-looking statements, including any projections of earnings, revenue, or other financial items, any statements of the plans, strategies, and objectives of management for future operations, any statements concerning proposed new products, services or developments, any statements regarding future economic conditions or performance, statements of belief and any statements of assumptions underlying any of the foregoing. These statements are based on expectations as of the date of this press release. Actual results may differ materially from those projected because of a number of risks and uncertainties, including those detailed from time to time in the Company's reports filed with the Securities and Exchange Commission. The Company assumes no obligations and does not intend to update these forward-looking statements.

For more information, please contact:

Mr. Chris Liu / Ms. Carmen Liu

Intermost Corporation

Tel: +86-755-8221-0238

Email: ir@intermost.com

Source: Intermost Corporation
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