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IMOT - New Management, New Vigor - Intermost in Full SwingLast update: 2/15/2007 9:48:00 AMSHENZHEN, China, Feb 15, 2007 /Xinhua-PRNewswire via COMTEX/
-- The Intermost Corporation (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." 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 ( ), and otherwise. Rating :
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