EX-99
4
ex_99-1.txt
Exhibit 99.1
IA GLOBAL ANNOUNCES REFOCUSING OF QUIKCAT BUSINESS
DIVESTS INTERNET ACCELERATION BUSINESS OUTSIDE OF NORTH AMERICA
BURLINGAME, CA September 15, 2004/PRNewswire-FirstCall/ --
IA Global Inc. (Amex: IAO) announced the refocusing of its holdings related to
QuikCAT Technologies and QuikCAT Australia, following the successful purchase of
the QuikCAT Technologies, Inc. assets out of Chapter 11on June 10, 2004.
The company's focus will be on the development of its multi-media compression
technologies for use in video, picture and audio products and it will pursue
licensing contracts with third party vendors. The company has decided to divest
the Internet accelerator business ("iNet") outside of North America to its joint
venture partner QuikCAT Australia Pty Ltd. ("QuikCAT Australia").
As part of this transaction, the company is assigning its intellectual property
rights in the iNet business outside of North America and its 47.5% interest in
QuikCAT Australia, for notes totaling $150,000 that are due from December 2004
thru June 2005. The notes are secured by the assets of QuikCAT Australia until
they raise $100,000 in capital. Notes issued by the company in 2003 and 2004
totaling approximately $102,000 and shares acquired for $50,000 were cancelled
as part of this transaction.
The company's CEO, Alan Margerison, said, "we are pleased to announce the
divestiture of the iNet product line to our joint venture partner. The iNet
business was not core to our operations. This transaction will allow the company
to focus on the development of its multi-media compression technologies for use
in video, picture and audio products".
The company will grant QuikCAT Australia an exclusive option to acquire the
North America iNet business for $213,000 in cash. This option expires February
28, 2005. The QuikCAT Technologies, Inc. acquisition closed on June 10, 2004 and
the total purchase price was $700,000 in cash, plus the assumption of certain
contracts, agreements and liabilities.
The transaction with QuikCAT Australia is subject to review by Australian
regulatory authorities and is expected to close in October 2004. There is no
guarantee that this approval will be received, that QuikCAT Australia will be
successful in raising its capital to acquire the product line or the company
will be successful in closing licensing agreements.
ABOUT IA GLOBAL INC.
IA Global, Inc. is a public holding company focused on acquiring Japanese and US
companies that operate in the entertainment, media and technology areas. We hold
a 60.5% equity interest in Rex Tokyo Ltd., a supplier and maintenance contractor
of parts to the Pachinko and slot machine gaming industry in Japan. Through our
67% equity interest in Fan Club Entertainment Ltd., we provide advertising,
publishing and data management services to the official Fan Club in Japan for
Marvel Entertainment Inc. and Marvel Characters Inc. We hold a 90.5% equity
interest in QuikCAT, a leading multi-media compression technology company, which
has developed several patent video, picture and audio compression algorithms
(codecs).
For further information, contact:
Mark Scott, CFO
IA Global Inc.
533 Airport Blvd. Suite 400
Burlingame CA 94010
650-685-2402 (t)
650-685-2404 (f)
scott@iaglobalinc.com
www.iaglobalinc.com
"SAFE HARBOR" STATEMENT UNDER THE PRIVATE SECURITIES LITIGATION REFORM ACT OF
1995: STATEMENTS IN THIS PRESS RELEASE REGARDING IA GLOBAL INC.'S BUSINESS,
WHICH ARE NOT HISTORICAL FACTS, ARE "FORWARD-LOOKING STATEMENTS" THAT INVOLVE
RISKS AND UNCERTAINTIES. FOR A DISCUSSION OF SUCH RISKS AND UNCERTAINTIES, WHICH
COULD CAUSE ACTUAL RESULTS TO DIFFER FROM THOSE CONTAINED IN THE FORWARD-LOOKING
STATEMENTS, SEE "RISK FACTORS" IN THE COMPANY'S PROSPECTUS. INVESTORS AND
PROSPECTIVE INVESTORS SHOULD READ THIS PRESS RELEASE IN CONJUNCTION WITH THE
COMPANY'S REPORTS ON FORM 10-K, FORMS 10-Q AND OTHER FORMS AS FILED WITH THE
SEC.

EX - 99 4 ex _ 99 - 1 . txt Exhibit 99 . 1 IA GLOBAL ANNOUNCES REFOCUSING OF QUIKCAT BUSINESS DIVESTS INTERNET ACCELERATION BUSINESS OUTSIDE OF NORTH AMERICA BURLINGAME , CA September 15 , 2004 / PRNewswire - FirstCall / -- IA Global Inc . ( Amex : IAO ) announced the refocusing of its holdings related to QuikCAT Technologies and QuikCAT Australia , following the successful purchase of the QuikCAT Technologies , Inc . assets out of Chapter 11on June 10 , 2004 . The company 's focus will be on the development of its multi - media compression technologies for use in video , picture and audio products and it will pursue licensing contracts with third party vendors . The company has decided to divest the Internet accelerator business ( " iNet " ) outside of North America to its joint venture partner QuikCAT Australia Pty Ltd . ( " QuikCAT Australia " ) . As part of this transaction , the company is assigning its intellectual property rights in the iNet business outside of North America and its 47 . 5 % interest in QuikCAT Australia , for notes totaling $ 150,000 that are due from December 2004 thru June 2005 . The notes are secured by the assets of QuikCAT Australia until they raise $ 100,000 in capital . Notes issued by the company in 2003 and 2004 totaling approximately $ 102,000 and shares acquired for $ 50,000 were cancelled as part of this transaction . The company 's CEO , Alan Margerison , said , " we are pleased to announce the divestiture of the iNet product line to our joint venture partner . The iNet business was not core to our operations . This transaction will allow the company to focus on the development of its multi - media compression technologies for use in video , picture and audio products " . The company will grant QuikCAT Australia an exclusive option to acquire the North America iNet business for $ 213,000 in cash . This option expires February 28 , 2005 . The QuikCAT Technologies , Inc . acquisition closed on June 10 , 2004 and the total purchase price was $ 700,000 in cash , plus the assumption of certain contracts , agreements and liabilities . The transaction with QuikCAT Australia is subject to review by Australian regulatory authorities and is expected to close in October 2004 . There is no guarantee that this approval will be received , that QuikCAT Australia will be successful in raising its capital to acquire the product line or the company will be successful in closing licensing agreements . ABOUT IA GLOBAL INC . IA Global , Inc . is a public holding company focused on acquiring Japanese and US companies that operate in the entertainment , media and technology areas . We hold a 60 . 5 % equity interest in Rex Tokyo Ltd . , a supplier and maintenance contractor of parts to the Pachinko and slot machine gaming industry in Japan . Through our 67 % equity interest in Fan Club Entertainment Ltd . , we provide advertising , publishing and data management services to the official Fan Club in Japan for Marvel Entertainment Inc . and Marvel Characters Inc . We hold a 90 . 5 % equity interest in QuikCAT , a leading multi - media compression technology company , which has developed several patent video , picture and audio compression algorithms ( codecs ) . For further information , contact : Mark Scott , CFO IA Global Inc . 533 Airport Blvd. Suite 400 Burlingame CA 94010 650 - 685 - 2402 ( t ) 650 - 685 - 2404 ( f ) scott@iaglobalinc.com www.iaglobalinc.com " SAFE HARBOR " STATEMENT UNDER THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995 : STATEMENTS IN THIS PRESS RELEASE REGARDING IA GLOBAL INC . 'S BUSINESS , WHICH ARE NOT HISTORICAL FACTS , ARE " FORWARD - LOOKING STATEMENTS " THAT INVOLVE RISKS AND UNCERTAINTIES . FOR A DISCUSSION OF SUCH RISKS AND UNCERTAINTIES , WHICH COULD CAUSE ACTUAL RESULTS TO DIFFER FROM THOSE CONTAINED IN THE FORWARD - LOOKING STATEMENTS , SEE " RISK FACTORS " IN THE COMPANY 'S PROSPECTUS . INVESTORS AND PROSPECTIVE INVESTORS SHOULD READ THIS PRESS RELEASE IN CONJUNCTION WITH THE COMPANY 'S REPORTS ON FORM 10 - K , FORMS 10 - Q AND OTHER FORMS AS FILED WITH THE SEC .