People tuning in to
Digitcom Interactive Video Network
's high-tech sales pitch on the Internet today probably didn't hear the message. The webcast didn't have any sound.
That's not the only glitch with the California-based fax-technology company, which seems a bit confused about its own status.
Digitcom Interactive claimed in its most recent press release to be listed on the
. CEO Jimmy Chin and
broker Daniel O'Hara, who has distributed private placement memoranda for the company, told
that the fax-technology company has
for listing with the stock market. Chin, who admits Digitcom's PR material is mistaken, says the company could be listed on the Nasdaq Stock Market in the first week of January.
But Nasdaq spokeswoman Carol Martz says her office has never heard of the company.
Confused? Chin isn't.
Wall Street Journal
ad today said he would describe "Internet Long-Distance . . .
he trades it for all the tea in China," says the company's technology is a sure winner. He says it makes international faxes cheaper. Chin simultaneously appeared on a Los Angeles television show and a global webcast on Thursday to promote Digitcom's FAXport service and raise investor awareness of the company. Despite the computer glitch, Chin said the broadcast was a success.
"We had hundreds of responses from the show," Chin said. "The phone number we listed is still ringing."
Digitcom wants to raise just under $1 million through a private placement, broker O'Hara says. A sister company, FAXport, is trying to raise about the same amount. The two companies have signed a letter of intent to merge next year.
Coincidentally, companies raising less than $1 million through stock sales are exempted from many
Securities and Exchange Commission
By Alex Berenson and Andrew Morse