SOURCE: International Broadcasting Corporation

August 29, 2007 10:00 ET

International Broadcasting Corporation CEO Provides Corporate Update

SPOKANE, WA--(Marketwire - August 29, 2007) - Darrell Nether, CEO of International Broadcasting Corp (PINKSHEETS: IBCD) is pleased to provide the following corporate update for investors:

In May 2007, IBC acquired Salt Lake City-based Stock Information Systems, Inc. for a combination of restricted stock and preferred stock. The acquisition of SIS was made to add depth to the IBC family of companies. Stock Information Systems provides public relations and investor relations services to Pink Sheet and OTCBB companies and has been in business since 2004. At present, the SIS web site is undergoing a major overhaul to reflect the new changes in the company and its membership in the IBC family.

IBC has been actively trading since Oct of 2000. IBC performed a one for twenty-five reverse stock split on July 6, 2007. The decision to restructure was based on providing a more attractive share structure to aid the company in its fund raising efforts while pricing IBC at a more reasonable level. At the time of the reverse split, IBC had 200 million shares authorized with 199 million outstanding giving the company very little room for growth. Post-split IBC had approximately 8.8 million shares outstanding with approximately 4.4 million shares in the float. No new additional stock has hit the market, yet the IBC stock price has drifted lower. While this is a short-term disappointment to all involved it was the correct decision to make. Moving forward, IBC intends to raise capital in reasonable amounts to provide operational cash flow, while at the same time allowing all subsidiaries the ability to focus their efforts on the future growth of the company.

IBC would also like to make clear there have been essentially no communications with its former CEO, Daryn Fleming since his resignation in the summer of 2006. While Mr. Fleming initially expressed an air of support to IBC, we believe his actions post-resignation clearly indicate otherwise.

Moving forward, IBC has added Synergetic Technologies, Inc. and Deep Blue Marine to its list of active sponsors. Interviews with Wilf Blum of Deep Blue Marine will begin this week and interviews with Mike Heil of Synergetics will begin within the next few weeks.

About IBCD: A Broadcaster and Holding Company

International Broadcasting Corporation owns and operates "Stock Talk LIVE," a fully interactive 7-hour long business radio talk show focused exclusively on small stocks priced below $5. Since 2002 Stock Talk LIVE has been "on-the-air" each and every stock market day. Each daily show covers a wide spectrum of stocks, interesting and knowledgeable callers, and significant trading opportunities for both long and short-term perspectives.

In June 2007, IBC added Stock Information Systems, Inc. as a wholly owned subsidiary and newest member of the IBC family.

International Broadcasting is also a holding company, holding stock positions in many other young, progressive companies. For more information about International Broadcasting Corporation, please visit our website at http://stockpickradio.com/index.htm

Statements in this press release other than statements of historical fact are "forward-looking statements." Such statements are subject to certain risks and uncertainties including the demand for the Company's services, litigation, labor market, and other risk factors identified from time to time in the Company's filings with the Securities and Exchange Commission that could cause actual results to differ materially from any forward-looking statements. These forward-looking statements represent the Company's judgment as of the date of this release. The Company disclaims, however, any intent or obligation to update these forward-looking statements. The disclaimer for sponsors is located at http://stockpickradio.com/index.htm

Contact Information

  • Contact:
    International Broadcasting Corporation
    Darrell W. Nether
    509.466.3413