Exhibit
99.1
|
|
|
|
|
5880
Pacific Center Blvd, San Diego, CA 92121
|
858-373-1600
|
www.infosonics.com
|
For
Immediate Release
|
Contact:
|
|
|
Jeffrey
A. Klausner
|
John
Mills or Allyson Pooley
|
|
Chief
Financial Officer
|
Integrated
Corporate Relations
|
|
858-373-1600
|
310-954-1100
|
|
ir@infosonics.com
|
jmills@icrinc.com
or
apooley@icrinc.com
|
InfoSonics
Corporation 10b5-1 Stock Trading Plan Update
SAN
DIEGO, CA, April 5, 2007
-
InfoSonics Corporation (NASDAQ: IFON), one of the premiere providers and
distributors of wireless handsets and accessories in Latin America and the
United States, today announced
that
the
Company’s Chief Executive Officer, Joseph Ram and Chief Financial Officer,
Jeffrey Klausner will allow their existing plans to expire as scheduled on
April
30, 2007 and that they do not intend to adopt new prearranged 10b5-1 stock
trading plans in the near future. In addition the Company announced that
its
Executive Vice President and Secretary, Abraham Rosler, recently adopted a
pre-arranged trading plan in accordance with Rule 10b5-1 of the Securities
and
Exchange Act of 1934, as amended, and the Company’s policies and procedures on
stock transactions by officers, directors and employees.
Shares
included in Mr. Rosler’s plan are subject to options that Mr. Rosler has held
for almost nine years which all expire by their terms in July 2008. The
pre-arranged stock trading plan was adopted in order to allow Mr. Rosler to
exercise and sell a portion of his stock options over time as part of his
long-term strategy for asset diversification and liquidity and to prevent the
potential loss of such options if they remain unexercised by their termination
date. Since the plan was adopted, Mr. Rosler has no discretion or control over
the timing of individual stock sales or option exercises under the plan. The
transactions under the plan will be disclosed publicly through filings on Form
4
with the Securities and Exchange Commission. By its terms, the plan terminates
on June 2, 2008.
Rule
10b5-1 permits insiders who are unaware of material, nonpublic information
to
adopt pre-arranged written agreements for trading securities in a
non-discretionary manner. Mr. Rosler as well as other officers and directors
of
the Company, may adopt similar plans in the future.
About
InfoSonics Corporation
InfoSonics
is one of the premiere providers and distributors of wireless handsets and
accessories serving Latin America and the United States. For the wireless
telecommunications industry, InfoSonics provides flexible and cost effective
solutions, including purchasing, marketing, selling, warehousing, order
assembly, programming, packing, shipping, and delivery. InfoSonics supports
manufacturers in moving their products to agents, resellers, distributors,
independent dealers, retailers and wireless network operators in the U.S. and
Latin America. For additional information, please visit www.infosonics.com.
######