Image Enteratinment - Update

In the most recent upset with the Image/Q-Black deal, Nyx has failed to deliver the promised $500k deposit under the amended merger agreement. The failure of Nyx to deposit the money has caused a material breach and is yet another reflection of Nyx's inability to obtain the necessary financing to consumate the merger. While the Board of Image Entertainment plans to issue a press release after the close of business today indicating its intended action related to Nyx's breach, such action has failed to materialize. The failure of Image's Board to issue a press release is reminiscient of the Company's reporting (or lack thereof)that has characterized the entire merger process.