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iMing Corp. : iMing Corp. Raises First Round Financing
(Marketwire Via Acquire Media NewsEdge) HONG Kong -- (Marketwire) -- 12/06/12 --
iMing Corp. (OTC: IMNG) Announced today that the
Company has completed its first round financing of $150,000 USD.
Under the
terms and agreement, the Company will pay 8% annual interest payments
for a
period of three years when the principal balance will then become
due and
payable. Additional financing plans are currently being developed by
management
and are expected to be completed in the first quarter of 2013.
"This is a very exciting time for iMing", said company president, Mona
Woon Yee
Yim. "We are so please at the new direction that the company is taking
toward
becoming a technology and content provider for consumers in China."
Consumer based internet transaction originating from China saw tremendous
growth
of 68% between 2009 and 2010 to over 185 million transactions. China's
online
retail sales have been predominantly consumer-to-consumer. With over
29% of
China's population using the internet, online retail sales are expected to
grow
over 30% per year. More than two-thirds of China's 1.3 billion people
live in
rural areas -- roughly three times the entire population of the United
States.
Retail sales in these areas grew 16 percent to 4 trillion yuan ($589
billion)
last year alone.
The company believes based upon these trends in the industry and consumer
growth
over the internet in China it can play a significant part in this
explosive
market opportunity by offering consumers an affordable Set-Top Box that
targets
both the massive domestic market of internet users as well as the CATV
users who
have access to the internet by providing a cost effective means of
access to
television, sports, entertainment and full length movies through the
company's
HD set top box products.
ABOUT THE COMPANY
iMing Corp is positioning its self to be a leading technology solution
provider
of set-top boxes (STB) which supplies high-definition television through
the Web
(Web TV) in China, with the goal of being a leading provider of set-top
boxes
through out Asia and expanding into North America and Europe. The iMing's
Set-Top Box can play source files from USB, SD/MMC card, SATA or an
internal
2.5"storage installed into the Web TV Box. By supporting the latest
format
1080P Full HD decoding, SPDIF.7.1.DTS decoding and HDMI 1.3, the iMing
Web TV
Box brings superior quality and flexibility to consumers home
entertainment
experience. The technology used by iMing makes its productive competitive
with
the other industry players such as Google TV, WDTV, Apple TV, Roku and
Boxee
Box.
For further information please refer to the Company's
website at
www.imingcorp.com
To become part of the Company's e-mail list for industry updates and
press
releases, please send an e-mail to: info@imingcorp.com .
SAFE HARBOR STATEMENT
Certain of the statements set forth in this press release constitute
"forward-looking statements." Forward-looking statements include, without
limitation, any
statement that may predict, forecast, indicate, or imply future
results,
performance or achievements, and may contain the words "estimate,"
"project,"
"intend," "forecast," "anticipate," "plan," "planning," "expect,"
"believe,"
"will likely," "should," "could," "would," "may" or words or
expressions of
similar meaning. Such statements are not guarantees of future
performance and
are subject to risks and uncertainties that could cause the company's
actual
results and financial position to differ materially from those included
within
the forward-looking statements. Forward-looking statements involve
risks and
uncertainties, including those relating to the Company's ability to
grow its
business. Actual results may differ materially from the results
predicted and
reported results should not be considered as an indication of
future
performance. The potential risks and uncertainties include, among
others, the
Company's limited financial resources, domestic or global economic
conditions --
especially those relating to China, activities of competitors and the
presence
of new or additional competition, and changes in Federal or State
laws,
restrictions and regulations on doing business in a foreign
country, in
particular China, and conditions of equity markets. The Company
disclaims any
obligation subsequently to revise any forward-looking statements to
reflect
events or circumstances after the date of such statement or to
reflect the
occurrence of anticipated or unanticipated events.
This announcement is distributed by Thomson Reuters on behalf of
Thomson Reuters clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: iMing Corp. via Thomson Reuters ONE
[HUG#1662986]
CONTACT:
iMing Corp
Email Contact
852-3619-3974
Source: iMing Corp.
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