Message #1 From:
NewsBot Date: October 17, 2005 04:34:00 AM
IAO News Mark Scott, President and CFO of IA Global, Inc. Talks to The Wall Street Transcript Monday, October 17
NEW YORK--(BUSINESS WIRE)--Oct. 17, 2005--The Wall Street Transcript has published an in-depth interview with Mark Scott, President and CFO of IA Global, Inc. (AMEX:IAO) in which he talks at length about the Company.
IA Global Inc. is a public holding company focused on acquiring primarily Japanese companies that operate in the gaming, entertainment and technology areas.
When asked to describe the make-up of the company Mr. Scott stated, "We've refocused the business on acquiring and growing Japanese businesses that operate in the small and mid-cap sized area in the gaming, entertainment and technology sectors that we can acquire at low acquisition costs. IA Global has two interests at this point. We own a 60.5% interest in Rex Tokyo Co Ltd, which operates in the gaming industry in Japan. Our second company, that we bought on June 15, 2005, is called Global Hotline. Global Hotline operates in the telecommunication business as a reseller of broadband and telephone lines in Japan."
Regarding the company's strategy Mr. Scott stated, "Our goal is to grow the Rex Tokyo business and the Global Hotline business internally and through acquisitions. If other opportunities present themselves, we will acquire them as well. In Japan, we have found that small and mid-cap companies struggle to receive bank financing and get to the public marketplace as public companies. So when they see a company like IA Global backed by Inter Asset Japan, they are quite happy to join us because they get access to being a public company and to the funding to grow their business. Global Hotline and its subsidiaries are Japanese-based companies. Rex Tokyo and its two subsidiaries are also Japanese-based companies reporting in to IA Global."
The Wall Street Transcript does not endorse the views of any interviewees nor does it make stock recommendations. For subscription information call 800/246-7673.
"Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995: This press release contains forward-looking statements (within the meaning of Section 27a of the Securities Act of 1933 and Section 21e of the Securities Exchange Act of 1934) regarding us and our business, financial condition, results of operations and prospects. Forward-looking statements in this report reflect the good faith judgment of our management and the statements are based on facts and factors as we currently know them. Forward-looking statements are subject to risks and uncertainties and actual results and outcomes may differ materially from the results and outcomes discussed in the forward-looking statements. Readers are urged not to place undue reliance on these forward-looking statements which speak only as of the date of this press release. We undertake no obligation to revise or update any forward-looking statements in order to reflect any event or circumstance that may arise after the date of the press release.
