Innotrek (RMDM) Seeks Opportunities in China's HDTV Services
BEIJING, May 6 /PRNewswire-FirstCall/ - RMDM's China based subsidiary Innotrek Co. www.innotrek.com seeks new opportunities for its services and broadband system in China's HDTV Market.
Innotrek participated in the 18th China Cable and Broadcasting Network Exhibition, world's leading event with focus on Digital TV and broadband network industries. Innotrek exchanged product information, user experiences and application patterns with other high-tech vendors.
Following this Exhibition, Innotrek seeks to strike cooperation in 'Three Network Convergence' market. The Three Network Convergence utilizes telephone, television and Internet in a single (phone or cable) line. The demand for HDTV services, interactive services and video-on-demand (VoD) increases in China. To address this need, the Chinese government plans to convert 174 million households to digital programming with expanded network capacity before 2015. Innotrek management believes that the company's technological base in broadband systems make this technology market a perfect fit for Innotrek.
Mr. Wynn Wang, the CEO of Innotrek Technology CO., said, "The Three Network Convergence still represents a new technology to Chinese consumers. We think that Innotrek's services and technology represent the highest class in China, and we can compete with the best, offering some definite technological and installation advantages in this field. We found several opportunities and we will continue to discuss these with the individual vendors. Innotrek Technology Co has transformed itself from a hotel based ISP to a full service system developer and provider. We are quickly approaching our critical mass growth stage. By that we mean we continue discussions with other companies for a merger and or a joint partnership collaboration. We have had several proposals that we passed upon as they would be harmful to our shareholders position and our overall growth strategy. This is not what we want. We have our eyes on several companies with leading technologies that we can consume and bring RMDM to the next level. We are headed in that general direction which should explain to our followers our progression into collision avoidance industries, system integrations and now HDTV industry. They are all intertwined with targets on the horizon"
The company will shortly post on Pink Sheets as filings progress made in its announced share buyback program.
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Safe Harbor Statement
Information in this news release may contain statements about future expectations, plans, prospects or performance of RMD Entertainment Group that constitute forward-looking statements for purposes of the Safe Harbor Provisions under the Private Securities Litigation Reform Act of 1995. The words or phrases "can be", "expects", "may affect", "believed", "estimate", "project" and similar words and phrases are intended to identify such forward-looking statements. RMD Entertainment Group cautions you that any forward-looking information provided by or on behalf of RMD Entertainment Group is not a guarantee of future performance. None of the information in this press release constitutes or is intended as an offer to sell securities or investment advice of any kind. RMD Entertainment Group's actual results may differ materially from those anticipated in such forward-looking statements as a result of various important factors, some of which are beyond RMD Entertainment Group's control. In addition to those discussed in RMD Entertainment Group's press releases, public filings, and statements by RMD Entertainment Group's management, including, but not limited to, RMD Entertainment Group's estimate of the sufficiency of its existing capital resources, RMD Entertainment Group's ability to raise additional capital to fund future operations, RMD Entertainment Group's ability to repay its existing indebtedness, the uncertainties involved in estimating market opportunities, and in identifying contracts which match RMD Entertainment Group's capability to be awarded contracts. All such forward-looking statements are current only as of the date on which such statements were made. RMD Entertainment Group does not undertake any obligation to publicly update any forward-looking statement to reflect events or circumstances after the date on which any such statement is made or to reflect the occurrence of unanticipated events.
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SOURCE RMD Entertainment Group
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