Idle Media Announces Temporary Cessation of Voluntary Reporting With the SEC
(firmenpresse) - LEESPORT, PA -- (Marketwire) -- 03/23/12 -- Idle Media, Inc. (PINKSHEETS: IDLM) -- On March 8, 2012, the Company filed a Current Report on Form 8-K announcing that the Board of Directors resolved to cease voluntary reporting in lieu of filing audited financial statements and that the Company has filed a Form 15 with the SEC. The Form 15 will be the Company's last SEC filing until the Company files the Form 10 to commence filing SEC reports. The Company intends to file the Form 10 and the accompanying audited financial statements after completion of the audits for the fiscal years ended September 30, 2010 and 2011.
Additionally, the Company intends to submit a Form 2-11 with a Market Maker for purposes of sponsoring its quotation on the Financial Industry Regulatory Authority (FINRA) - OTC Markets QB (OTCQB). The Company intends to file its Form 2-11 after the filing of the Form 10. Upon receipt of comments from FINRA, and submission of the Company's responses, FINRA may include the Company's symbol for quotation on the OTCQB.
Headquartered in Leesport, Pennsylvania, Idle Media, Inc. (PINKSHEETS: IDLM) IDLM continues to move forward with its plans to grow its music and urban sites and, as a result, has seen an expansion of its target base. The Company recently launched ClipCartel and plans to continue new launches. The Company plans to focus on realizing additional revenue from its current websites while creating new revenue streams with the introduction of new ones.
The Company sees the popularity of gaming increasing in the future and continues to work toward expanding this realm. The Company is working to increase its footprint from current game platforms and plans to release new ones in the near future. The goal is to establish a network of revenue-generating "base" sites and then branch out from there. Mobile applications will also factor heavily into the Company's strategy.
In addition, the Company plans to continue to provide mobile experiences for its online websites as they provide value to its users. The Company plans to develop mobile applications that will complement its growing music and gaming base.
Forward-Looking Statement: Statements such as "the Company intends to file the Form 10 and accompanying audited financial statements," "realizing additional revenue from its current websites while creating new revenue streams with the introduction of new ones," involve risks and uncertainties, including, but not limited to its ability to furnish adequate information to compile the audited financial statements, or general economic conditions which would hinder its ability to operate effectively.
Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual outcomes may vary materially from those indicated. Important factors that could cause actual results to differ materially from the forward-looking statements we make in this news release include market conditions, its ability to build additional value in the Company, and those set forth in reports or documents we file from time to time with the SEC. We undertake no obligation to revise or update such statements to reflect current events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.
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Datum: 23.03.2012 - 20:01 Uhr
Sprache: Deutsch
News-ID 128011
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LEESPORT, PA
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