traded volume pointed over 1 million shares. What has caused the high trading activity though, is still a mystery.In January, the company announced it has begun a software testing phase with its new e-learning partner Mount Knowledge Holdings, Inc. Though, since then IN Media has not released any news on its business and no one is familiar with its current activities. Despite this fact, it looks like something is going on with the company, which is pumping up the stock price intensively.
IN Media Corp is an integrator of Internet Protocol Television services, products and content for major platform and service providers. Last summer, the company reached the price of $1.50 per share, however, its current stock price points around $0.18.
As a development-stage company, IN Media has no revenues in its balance and its liabilities are almost twice its total assets. Besides, the company’s deficit accumulated during the development stage period is already over $1 million.[BANNER]
Despite the fact that IMDC has managed to raise $35,000 through the issuance of common stock, secured advances from directors and officers of the company, its cash balance at September 30, 2010 was only $162.
IMDT has obtained extended credit from related parties in connection with some services provided, though the company will need additional funding to cover its expenses and working capital requirements. The management claims that it may decide the company can no longer continue with its operations because of the lack of financial results and the lack of available financial resources. Moreover, if IMDC is unable to secure adequate capital, its business will likely fail and the shareholders could lose some or all of their investment.
