Interactive Multi-Media Auction Corp (OTCBB:IMMA) provided updates on its first ever live on-line auction event. Mr. De Vera, the President said that during the latest public strategy report of 2015, the company disclosed that they were close to making a final decision between San Jose, Mexico and New Delhi, India as to which of these place should be selected as the site for its first ever live on-line auction event.

The selection of location

Interactive Multi-Media announced that the management has taken final decision as they intend to host event from San Jose in coming November. In recent weeks, the company made general understandings with a number of purveyors, professionals and gallery owners of diverse and unique goods in the San Jose. The focus will be now towards ensuring the completion of all of the requirements deemed essential to prepare for the successful conclusion of the event. It should undoubtedly mark a meaningful occurrence in the progression of Interactive’s business.

The details

Vera further added that within the report, Interactive Multi-Media also highlighted the introductions that were done by external consultants. The selection was done on basis of association that prevails between consultants and certain famous Hollywood actors. As the Mexican location is finalized, the management has been told by external consultants that the probability of celebrity endorsers desired to involve in the on-site marketing and pre-promotion of the live event is extremely high.

The momentum

Interactive Multi-Media said that the objective is to provide specifics related to the sponsors, the event schedule and also the exact location for the proposed event. It will also disclose the list of the styles and types of products to be offered at the auction and the names of high profile endorser that may support company’s efforts.

In last trading session, the stock price of IMMA declined more than 74% to close the trading session at $0.170. The decline came at a share volume of 709,213 compared to average share volume of 71,667.