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Integrated Media Technology Limited reports company developments for an Australian operating company engaged in trading Halal products, manufacturing and selling nano-coated plates for filters, and manufacturing and selling electronic glass. Its news also has referenced digital-assets trading for luxury products and new energy products and solutions in prior company descriptions.
Recurring IMTE announcements include Nasdaq continued-listing communications, periodic-reporting compliance matters, minimum bid price notices, share consolidation actions, and updates tied to its ordinary shares on the Nasdaq Capital Market. Company releases also provide concise business descriptions alongside governance and capital-market status updates.
Integrated Media Technology Limited (NASDAQ: IMTE) has announced that its subsidiary Ace Corporation Limited has secured licenses from IQI Media Inc for original Mandala Art. This unique hand-painted art, known for its intricate geometric patterns, is associated with art therapy for mental wellness. IMTE aims to leverage AI technology to produce unique artworks efficiently. This strategic move will introduce a new line of AI-assisted NFTs on their Ouction platform, marking a significant development in the company's AI-enhanced production capabilities.
Integrated Media Technology Limited (NASDAQ: IMTE) announced on April 6, 2022, that its subsidiary, Ace Corporation Limited, signed a Memorandum of Understanding with Grown Up Group Investment Holdings Limited (HKSE: 1842). The partnership aims to co-develop Non-Fungible Tokens (NFTs) and digital assets on the Ouction platform. GUGIHL plans to create a metaverse focused on Asian culture, hosting virtual events and exhibitions. The parties will formalize their agreement within six months, sharing proceeds from virtual galleries equally.
Integrated Media Technology Limited (NASDAQ: IMTE) announced a distribution agreement with KMF Malaysia to sell Halal products in Europe, starting in France. The agreement, spanning three years, leverages KMF's established distribution network. The market for Halal products in Europe was valued at approximately Euro 70 billion in 2021. IMTE aims to source Halal products from Asia and tap into KMF's expertise to access this lucrative market.
Integrated Media Technology Limited (NASDAQ: IMTE) announced that its subsidiary, WISE, has secured a contract for a minimum of 3 containers of durian products with CSL Durian Holding Sdn. Bhd., set for sale in April. This venture marks WISE's entry into the durian market and aims to promote Halal certification and products. The company anticipates strong demand for Halal products globally, particularly in Asia and Europe, and plans to establish a global supply chain for Halal products. CEO Xiaodong Zhang emphasized the significance of this contract for market recognition.
Integrated Media Technology Limited (NASDAQ: IMTE) has signed a one-year exclusive agreement with Wan Fung Art Gallery for the creation of NFTs based on Chinese fine art. Under this agreement, IMTE will mint approximately 500 NFTs at no cost to Wan Fung, with sales taking place on IMTE's Ouction marketplace, starting in February 2021. This collaboration aims to leverage blockchain technology to provide transparency and enable artists to benefit from resale royalties embedded in smart contracts.
Integrated Media Technology Limited (NASDAQ: IMTE) has signed a supply agreement with CSL Durian Holding Sdn. Bhd. for its subsidiary, World Integrated Supply Ecosystem (WISE), to be a preferred distributor of durians in Asia and China starting March 2022. This agreement aims to enter new markets, including the USA and Canada, promoting Halal certification. The durian market was valued at US$17.6 billion in 2018 and continues to grow, particularly in China. The company plans to develop an online Halal trading platform for fruits and foodstuffs, focusing on supply chain establishment in upcoming markets.
Integrated Media Technology Limited (NASDAQ: IMTE) has signed a subscription agreement for a 60% equity stake in World Integrated Supply Ecosystem Sdn Bhd (WISE), a Malaysian company focused on halal certification and supply chain for halal products. WISE aims to enhance food safety and extend its reach globally by working with JAKIM, the Malaysian halal certification authority. The halal market is valued at approximately US$1.9 trillion in 2020 and is projected to grow. IMTE sees potential technological applications in developing a digital halal ecosystem.
On January 19, 2022, Greifenberg Digital, part of the IMTE Group, highlighted significant risks in China's property bond market. The Bloomberg Index for high-yield Chinese bonds reached 53.7, down from 120 in March 2021, indicating a high default risk, especially among leveraged developers. While stronger companies like Country Gardens saw price increases due to regulatory expectations, many face thin equity buffers. Greifenberg's Credit AI models, which forecasted the property crisis, suggest caution for investors, emphasizing the need for regulatory clarity before considering investments.
Integrated Media Technology Limited (NASDAQ: IMTE) has completed the development of its online digital assets trading platform, Ouction. This platform features dynamic image cryptographic verification technology and provides blockchain notarized digital certificates for both digital and physical assets, enhancing trust for e-commerce transactions. Currently, the platform's digital asset listings are limited, but growth is anticipated through marketing efforts in Asia and North America. NFT sales surged to an estimated $40 billion in 2021, highlighting the potential market for Ouction.
Integrated Media Technology Limited (IMTE) announced a fundraising effort totaling US$10 million through convertible note agreements with eight investors outside the United States. The notes, with a 6% annual interest rate, will mature in two years and can be converted into shares at US$3.12 each. Additionally, investors will receive warrants that can raise an extra US$8 million if exercised at US$3.74 per share. The funds will support acquisition and manufacturing infrastructure.