NeoMagic Corporation (OTC: NMGC), today provided a business update on key strategic initiatives; Maximizing value of Core Products and MercadoMagico brand.
NeoMagic Corporation continues to experience organic growth through its semiconductor products and sales on its MercadoMagico platform.
The Company continues to maintain its core business with shipments of its core product line of MiMagic application processors.
NeoMagic’s eCommerce division, MercadoMagico.com, has experienced a steady increase in website traffic, as well as a rise in the visit to conversion ratio, as a direct result of continuing investments and refinements to its MercadoMagico.com eCommerce site.
MercadoMagico has added a new category “China Direct”, with the addition of China Direct MercadoMagico.com customer now have access to products shipped directly from China to the United States.
The Company is now in the process of actively pursuing strategic partnerships, joint ventures and/or merger and acquisition opportunities to expand its products or technology offering. The Company's goal is to continue to focus on identifying new opportunities to monetize existing MiMagic family products, to facilitate its ability to return to full-time financial reporting.
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