SARASOTA, Fla., Oct. 16, 2007 (PRIME NEWSWIRE) -- ImagiTrend, Inc. (Pink Sheets:IMTD) is pleased to announce that the Company is in the final stages of performing its due diligence on several potential acquisition candidates. Over the last several months the Company has been targeting a number of companies in a variety of industries across the country.
The overall goal of the Company is also to conduct an extensive evaluation of a number of potential partners as well. ImagiTrend has setup an acquisition strategy to acquire businesses fitting the Company's vision for expanding into several key markets including energy conservation, medical, and specialty packaging areas. ImagiTrend previously announced the receipt of several letters of intent from well-established businesses, and is expecting to sign contracts in the near future.
"We are very close to finalizing agreements with strong companies in a variety of industries. We believe we have taken the correct steps to benefit our Company as well as our shareholders," stated Russell Haraburda, President and CEO of ImagiTrend, Inc.
ImagiTrend, Inc. recently announced that Mr. Ted Yardley has been appointed as President of Eternal Gems, Inc., a wholly-owned subsidiary of ImagiTrend. Mr. Yardley has spent the majority of his career in the mining business as the President and CEO of Doron Explorations, Wind River Resources and Swift Minerals, which are all publicly traded companies.
About ImagiTrend, Inc.:
ImagiTrend, Inc. is a development-stage Company that specializes in developing and marketing pet products and consumer products. ImagiTrend currently owns interest in two companies: Eternal Gems, which has a unique process for creating durable and attractive pet memorial products; and The Hollywood Movie Machine, which has an exclusive license on technology to place individual customers in to film clips of movies, television shows, and other video footage. The Hollywood Movie Machine has also developed and licensed interactive home consumer entertainment products and software.
The ImagiTrend, Inc. logo is available at http://www.primenewswire.com/newsroom/prs/?pkgid=4088
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: The statements, other than the statements of historical facts, contained in this release which are not historical facts may be deemed to contain forward-looking statements with respect to events, the occurrence of which involves risk and uncertainties, including, without limitation, demand and competition for the Company's products and services, the availability to the Company of adequate financing to support its anticipated activities, the ability of the Company to generate cash flow from operations and the ability of the Company to manage its operations.
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