SEC Accepts USA Video Interactive Form 10; Company To Return to OTC BB
Sunday, 13 August 2000
MYSTIC, Connecticut, August 14, 2000 - The U.S. Securities and Exchange Commission ("SEC") has informed USA Video Interactive Corp. (NQB: USVO; CDNX: US; www.usvo.com) (the "Company") that it has no further comments on the Company's Form 10 filing. The Company is now eligible to and has begun the process of being reinstated on the Over-the-Counter Bulletin Board (the "OTC BB"). The Company anticipates that its common stock will resume trading on the OTC BB in several days. The trading symbol will remain USVO.

"We are pleased that our strong commitment to this process has resulted in clearing all of the SEC's comments on our Form 10 filing," said Edwin Molina, president and CEO of the Company. He added that, "The SEC engaged in a rigorous analysis of our business model and operating results."

Under recent regulations, the NASD requires all OTC BB-traded companies to be fully reporting under the Securities Exchange Act of 1934. The Form 10 registration establishes a public file containing pertinent financial and other information on the Company. The Company will report its financial and other information in periodic filings such as the quarterly Form 10-Q and the annual Form 10-K, and will in addition report current developments on Form 8-K whenever appropriate to announce material changes.

About USA Video Interactive
USA Video Interactive is an international designer and supplier of high-tech Internet streaming video and Video-on-Demand systems, services and innovative end-to-end solutions. The USA Video Interactive technology gives users full-motion video; the unique flexibility of standard, VCR-like controls of play, fast-forward, reverse and pause; and the convenience of a standard internet-browser format for access. It provides video images significantly faster and at a higher degree of resolution than with previously available methods; significantly overcomes bandwidth restrictions; and eliminates the blockiness and slowness of current technologies -- all at a lower cost and at or near broadcast quality.

For more information on USA Video Interactive, visit www.usvo.com. USA Video Interactive Corporate Headquarters Office: 70 Essex Street; Mystic, CT 06355; (800) 625-2200; (860) 572-1560. Canada Office: 837 West Hastings Street; Suite #507; Vancouver, B.C. V6C 3N6. Trading symbol on the US NBQ: USVO; Trading symbol on The Canadian Venture Exchange: US. Standard & Poors Listed. CUSIP 902924208; USA Video, USA Video Interactive, Video-On-Demand and Video Yellow Pages are trademarks of USA Video Interactive.

The Canadian Venture Exchange (CDNX) has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. For more information contact: Tony Castagno, Media Relations, 860-572-1560; Kevin Yorio, Investor Relations, 860-572-1560; . This press release may contain forward-looking statements. Actual results may differ materially from those projected in any forward-looking statement. Investors are cautioned that such forward-looking statements involve risk and uncertainties, which may cause actual results to differ from those described.

Last Updated ( Tuesday, 05 December 2006 )