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Integrated Media Technology Limited (IMTE), listed on NASDAQ under the symbol 'IMTE' and ASX under 'ITL', is a pioneering company engaged in the investment, development, and commercialization of cutting-edge visual technology. Headquartered in Hong Kong with regional offices in Australia and China, the company focuses on glasses-free 3D (autostereoscopic 3D) display technology, offering innovative solutions both for industrial and consumer markets through its subsidiaries Marvel Digital Limited and GOXD Technology Ltd.
For the industrial market, IMTE designs and sells a range of products including:
- Glasses-free 3D digital signage and video walls
- 3D conversion equipment
- Software for the film/video production industry
In the consumer market, the company offers various products such as glasses-free 3D digital photo frames, smartphones, tablets, and TVs.
IMTE has expanded its business portfolio by manufacturing and selling electronic glass for the USA markets, trading in Halal products, manufacturing and selling nano-coated plates for filters, and trading luxury products on its digital assets trading platform. IMTE is also involved in the sale of new energy products and solutions.
The company recently announced a 1-for-10 share consolidation, effective October 16, 2023, aiming to bring the share price into compliance with Nasdaq's minimum bid price requirement and make it more appealing to institutional and retail investors. This consolidation will reduce the number of outstanding shares from approximately 21.4 million to 2.1 million, maintaining the ownership percentage of each stockholder, albeit without issuing fractional shares.
IMTE is dedicated to pioneering technological advancements and is continuously striving for compliance with regulatory standards. For more information, visit their official website at www.imtechltd.com.
Integrated Media Technology (IMTE) announced receiving a deficiency letter from Nasdaq due to a delay in filing its annual report for the year ending December 31, 2023. The company now has until July 16, 2024, to submit a compliance plan to Nasdaq. If accepted, IMTE could receive an extension until November 11, 2024, to regain compliance. The delay is attributed to the additional time needed by their independent auditors. This notification does not immediately affect the listing of IMTE shares on the Nasdaq Capital Market.
Integrated Media Technology Limited (NASDAQ: IMTE) received a notification from Nasdaq on November 2, 2022, regarding a failure to meet the minimum bid price requirement. The company's stock price has been below $1.00 for 30 consecutive business days. This notification has no immediate impact on trading. IMTE has a compliance period until May 1, 2023, to regain compliance by achieving a closing bid price of at least $1.00 for 10 consecutive business days. If not compliant by May 1, it may be eligible for an additional 180-day period.
Integrated Media Technology Limited (NASDAQ: IMTE) has signed a memorandum of understanding with three key partners in Thailand to enhance Halal standards and certification processes. This strategic partnership includes the Central Islamic Council of Thailand, Halal Standards Institute of Thailand, and Halal Science Center at Chulalongkorn University. The collaboration aims to promote Halal products and develop a robust supply chain, utilizing Thailand's significant production capacity for Halal goods. CEO Xiaodong Zhang emphasized Thailand's pivotal role in sourcing Halal products for European distributors.
Integrated Media Technology Limited (NASDAQ: IMTE) has announced a strategic partnership between its subsidiary Ace Corporation Limited and Hainan Pansuo Art and Culture Development Co., Ltd. This agreement aims to offer a comprehensive solution for blockchain traceability, automated NFT production, and electronic settlement. IMTE's Ouction trading platform will develop digital assets linked to art collections, promoting global reach for art collectors. CEO Xiaodong Zhang emphasized the expansion of Ouction's platform through this collaboration.
Integrated Media Technology Limited (NASDAQ: IMTE) has announced that its subsidiary Ace Corporation Limited has secured licenses from IQI Media Inc for original Mandala Art. This unique hand-painted art, known for its intricate geometric patterns, is associated with art therapy for mental wellness. IMTE aims to leverage AI technology to produce unique artworks efficiently. This strategic move will introduce a new line of AI-assisted NFTs on their Ouction platform, marking a significant development in the company's AI-enhanced production capabilities.
Integrated Media Technology Limited (NASDAQ: IMTE) announced on April 6, 2022, that its subsidiary, Ace Corporation Limited, signed a Memorandum of Understanding with Grown Up Group Investment Holdings Limited (HKSE: 1842). The partnership aims to co-develop Non-Fungible Tokens (NFTs) and digital assets on the Ouction platform. GUGIHL plans to create a metaverse focused on Asian culture, hosting virtual events and exhibitions. The parties will formalize their agreement within six months, sharing proceeds from virtual galleries equally.
Integrated Media Technology Limited (NASDAQ: IMTE) announced a distribution agreement with KMF Malaysia to sell Halal products in Europe, starting in France. The agreement, spanning three years, leverages KMF's established distribution network. The market for Halal products in Europe was valued at approximately Euro 70 billion in 2021. IMTE aims to source Halal products from Asia and tap into KMF's expertise to access this lucrative market.
Integrated Media Technology Limited (NASDAQ: IMTE) announced that its subsidiary, WISE, has secured a contract for a minimum of 3 containers of durian products with CSL Durian Holding Sdn. Bhd., set for sale in April. This venture marks WISE's entry into the durian market and aims to promote Halal certification and products. The company anticipates strong demand for Halal products globally, particularly in Asia and Europe, and plans to establish a global supply chain for Halal products. CEO Xiaodong Zhang emphasized the significance of this contract for market recognition.
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