ILLUMINATED MEDIA INC.
SUPPLEMENT NO. 1
TO PROSPECTUS, DATED JULY 24, 1977
Rules 424(b)(3)
424(c)
333-22443
1. Effective September 22, 1997, Illuminated Media Inc. (the "Company") and
Tuschner & Co., Inc. (the "Underwriter") extended the Company's offering
for an additional period of 30 days until October 22, 1997, as is
permitted by the Impoundment Agreement, because the minimum amount had not
been received by September 22, 1997.
2. The Company's unaudited financial results for its second fiscal quarters
ended August 31, 1997 and 1996, were as follows:
3 MONTHS ENDED 6 MONTHS ENDED
--------------------- ----------------------
8/31/97 8/31/96 8/31/97 8/31/96
-------- -------- --------- --------
Revenue $ 25,954 $ 62,678 $ 67,048 $122,816
Total Expenses 94,951 88,354 199,586 170,690
Net Loss (68,997) (25,676) (132,538) (47,874)
3. During the period July 24, 1997, through October 2, 1997, the Company
sold an additional $8,000 of Debentures, accompanied by warrants for 2,668
shares.
4. On September 29, 1997, Gail Emerson, a director and Secretary of the
Company, resigned for personal reasons.
The date of this Supplement is October 2, 1997
