iMall Revenues Slip, Loss Rises

E-tailer iMall Inc. posted a net loss for
the quarter ended March
31 of $1.22 million on revenues of $3.47 million.

In the same period a year earlier, the Studio City, CA-based company posted
a net loss of $682,206
on revenues of $4.07 million.

“During the first quarter, iMall continued to concentrate on developing and
the electronic commerce segments of its business,” said Richard Rosenblatt,
chairman and chief executive officer. “We are very excited about our recent
agreements with, Cardservice International and Verio Web
Hosting Inc. and believe they are a testament to the strength of our
technology and product offerings. We expect to start seeing the impact of
these agreements on electronic commerce revenues in upcoming quarters.

He said the company plans an online advertising campaign in addition to its
partnerships to build brand awareness.

iMall provides e-commerce apps and operates a shopping mall on the Web with more than 1,600 hosted storefronts, segmented into divisions such as Electronics, Computers, Home and Family and Arts.

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