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XRYM ready to run! Recent news sounds promising.Could easily see .05
XRAYMEDIA's CIT Launches over 1,000 Unique R&D Listings Today with New Public Company Opportunities as the First of Three Layers Advances www.livecit.com into the Next Arena MONDAY, DECEMBER 12, 2005 5:13 AM - BusinessWire
ENSCHEDE, Netherlands & NEW YORK, Dec 12, 2005 (BUSINESS WIRE) -- XRAYMEDIA, Inc., (XRYM) , an industry leader in real-time negotiating technology, CENTER OF INNOVATION TECHNOLOGY (CIT) team is very pleased to announce that the http://www.livecit.com/ website has been released today with well over 1,000 listings. These listings are from international companies who request R&D advancement, collaborations and partnerships, marketing, and/or initial or secondary financing, and possible public company advancement, on top of offering their fresh technology to each international market sector.
CIT Marketing Awareness & Communication - The First Stage
Today's deployment marks the first layer for the CIT. This outstanding tool is for public awareness and exploration of initial technology offerings from Europe. This first layer is an informational exercise to commence the CIT Marketing Awareness & Communication program. It addresses how companies can benefit from the CIT through the detailed information which is placed on the CIT website. As well, in this layer, XRAYMEDIA will initiate a major PR campaign through its established CIT media channels. The XRAYMEDIA CIT European Corporate Headquarters is a participating member of Dutch the organizations that have been linked into the Communicating European Research 2005 International Conference:
Please consult the above link for a better understanding of the CIT working field and enterprise environment.
Online Venture Exchange - The Next Arena
The second layer of the CIT will be released with the interactive LOM technology platform, designed to further empower technology progression by supplying real-time negotiations over the Internet in an online venture exchange. The Company's distinctive technology immediately matches International research & development projects with entrepreneurs and investors worldwide. In this layer, listed companies will be charged a fee for the platform CIT service. Moreover, CIT will introduce the listed companies to US companies for collaborations to implement the innovations and thereby cause overall revenues to increase exceedingly. CIT consulting can suggest forms of collaboration, which do not prejudice a company's competitive position. A quotation and contract is usually agreed at this stage.
In addition to the preceding, this second layer platform of the CIT will serve as a conduit for increasing the financial investigation to support small to medium businesses in the US and EU. This is a key strength of CIT and puts it in a context where it explores and expands the European Technology Initiatives globally from public and private sector organizations as well as EU and non-EU funded research. CIT activities and particularly its technology platforms are inspired and build up the models of the EU research framework programs. CIT is following the developments of these new programs closely and is positioning its activities in the context of the cutting edge research priorities and business needs related to these future programs.
Active Involvement Prospect - The Final Phase
The third layer is the key primary level of CIT services. In this layer, companies will become an active part of the CIT Development Procurement Center. They will be accompanied by XRAYMEDIA's spin-off activities, assisting them ingoing public on this third platform. The CIT will structure acquisitions of small, private companies. The CIT will then maintain a certain percentage ownership in these companies, normally 20% to 25%, therefore building value for CIT as its affiliates continued growth. Ultimately, the CIT will lend its support to assist growing enterprises in setting and meeting strategic and financial objectives.
XRAYMEDIA President & CEO, Hans Johannes Schulte, stated, "Due to the multiplying synergistic effects of our clients and the powerful in-house LOM technology, the CIT revenues are expected to grow remarkably. Our CIT profile is a perfect match to these very unique Research and Development concepts. We are extremely excited to see the progress and forged relationships. XRAYMEDIA's belief in true cooperation and design execution, via individual strengthening, has become CIT's ammunition in growing as an instrumental initiator and facilitator of the exploration of the synergistic effects addressed within our own private CIT initiative platform programs."
You should not place undue reliance on forward-looking statements in this press release. This press release contains forward-looking statements that involve risks and uncertainties. Words such as "will", "anticipates", "believes", "plans", "goal", "expects", "future", "intends" and similar expressions are used to identify these forward-looking statements. Actual results could differ materially from those anticipated in these forward-looking statements for many reasons, including the risks we face as described in this press release. For further information about XRAYMEDIA INC., please refer to its Form 10-ksb filed with the Securities and Exchange Commission and available on the SEC website at www.sec.gov.
SOURCE: XRAYMEDIA, Inc.
XRAYMEDIA, Inc. Pres. & CEO Hans Johannes Schulte, 888-777-0658 info*livecit.com
Copyright Business Wire 2005
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For the nine months of 2005, the issuance of 202,700,000 non-cash-shares and the increase in borrowings, could not offset the loss for the nine months.
Cash flows generated by operations were $13,312 for the nine months ended September 30, 2005, as versus $155,855 for the nine months ended September 30, 2004, a decrease of $142,543. The heavy issuance of non-cash-shares in 2004 was reduced in 2005.
Cash used by investing activities was $6,679 for the nine months ended September 30, 2005 and $948,464 for the nine months ended September 30, 2004. The substantial decrease is attributable to the payment, in 2004, in restricted shares, for protection of patents, copyrights and domain, which was written off in the fourth quarter of 2004 as it was determined to be unsuccessful.
Cash flows generated from financing activities were nil for the nine months ended September 30, 2005 and $776,800 for the quarter ended September 30, 2004. XRAYMEDIA's financing activities, in the 2004 period, primarily consisted of the sale of XRAYMEDIA's common stock pursuant to private placements.
XRAYMEDIA has funded its cash needs over the period covered by this Form 10-QSB through increasing debt and the issuance of its common stock for services. XRAYMEDIA intends to cover its cash needs over the next twelve months in part through the sale of additional shares of its common stock pursuant to a registration statement or an appropriate exemption from registration. However, there is no guarantee that XRAYMEDIA will continue to be able to raise additional funds from the sale of its securities.
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