iMing Corp. Raises First Round Financing
December 06 2012 - 8:00AM
Marketwired
iMing Corp. (OTC PINK: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.
Contacts: iMing Corp 852-3619-3974info@imingcorp.com
www.imingcorp.com
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