Imagination TV Inc. (IMTV)

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2008---SECURITIES AND EXCHANGE COMMISSION V. STEVEN SAMBLIS

UNITED STATES SECURITIES AND EXCHANGE COMMISSION

LITIGATION RELEASE NO. 15609 / January 6, 1998

SECURITIES AND EXCHANGE COMMISSION V. STEVEN SAMBLIS, ET AL. Case No. 98-
001-CIV-ORL-22-C.

The Securities and Exchange Commission ("SEC") announced that it filed
a complaint today in the U.S. District Court for the Middle District of
Florida in Orlando against Steven Samblis and his corporation New Stock,
Inc. ("NSI"). According to the SEC's Complaint, Defendant Samblis is a
resident of the Orlando, Florida area and self-professed stock picker. The
SEC alleges that Samblis, together with co-defendant NSI, is passing
himself off as an independent and impartial stock picker when, in fact, he
is nothing more than a paid pitch man for the companies he hypes.

In its Complaint, the SEC alleges that in October 1997 Samblis
published a magazine, New Stock, in which he enthusiastically recommended
the securities of certain publicly-traded companies without disclosing that
he had been paid at least $20,000 to make these recommendations. The SEC
also alleges that Samblis was paid to issue thousands of E-mails over the
Internet regarding these same securities. The SEC learned of Samblis'
activities when detected by the Enforcement Division's Internet
Surveillance program.

The SEC is seeking an expedited hearing and preliminary injunction
against Samblis and NSI for violating Section 17(b) of the Securities Act
of 1933. Section 17(b) makes it illegal for any person to distribute any
publication recommending a security while being paid to do so without fully
disclosing that he has been or will be paid for recommending the stock and
the amount he has been or will be paid. In addition to a preliminary
injunction, the SEC seeks a permanent injunction against Samblis and NSI,
disgorgement of ill-gotten profits, and civil money penalties.

Investors are advised to read the SEC's "Cyberspace" Alert before
purchasing any investment promoted on the Internet. The free publication,
which alerts investors to the telltale signs of online investment fraud, is
available on the Investor Assistance and Complaints link of the SEC's Home
page on the World Wide Web <www.sec.gov>. It can also be obtained by
calling 800-SEC-0330. Investors are encouraged to report suspicious
Internet offerings (or other suspicious offerings) via e-mail to
<[e-mail]>. A user-friendly form to assist you in making a report
is available at the Enforcement Complaint Center on the Enforcement Division
link of the SEC Home Page <www.sec.gov>. Investors can also mail a report
to the SEC's Enforcement Complaint Center, Mail Stop 8-4, 450 Fifth
Street, Washington, D.C. 20549.

A separate issue whereby the SEC is seeking clarification from CEO Steve Samblis
http://www.sec.gov/Archives/edgar/data/1437596/000000000012044474/filename1.pdf