LOS ANGELES, CA, (NAMC) - On Wednesday the digital signage technology company Impart Media Group, Inc. (OTCBB:
IMMG) stated that the company has filed an extension for the Quarterly Report on the fiscal quarter ended September 30, 2006.
So in essence it is possible that investors will see a little "E" pop up at the end of their trading symbol once again. The company said that the delay was due to a restatement of the financial statements included in their Second Quarter Report for the fiscal quarter ended June 30, 2006. Now at the time of that last restatement I do believe that an "E" was placed on the end of the symbol.
Now the host of "Wall Street to Main Street" on NAMC Radio, Louis Victor, has spoken about IMMG on a few occassions stating that it was in the right industry at the right time, but my question is this, is it actually the right company to take advantage of the growth in the digital signage industry?
It seems as though that are structuring the company in a way that would indicate that they had plans on being in for the long haul but the stock price tells a different tale. This was a stock that had a reverse split which brought the stock above $4.00 and then steadily it drifted downward and hasn't looked back.
It could be the result of the potential damage that was done prior to Impart Media reverse merging into the public company or it could just be that the company's growth potential is not reflected in the stock price as of yet. It's hard to say but I will say that I do not think that Impart Media Grroup is the company that will take the reigns in the digital signage industry unless something fundamental changes within the company. They have hired not one but two firms to increase investor awareness and it assisted for one strong trading day but since it has slipped.
So investors need to do their due diligence with this one as the risk may outweigh the rewards.
The stock closed at 45 cents on Thursday on 89,264 shares traded, the EPS on this stock is negative 60 cents.
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