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                                                                    Exhibit 99.1

                                  RISK FACTORS

         In passing the Private Securities Litigation Reform Act of 1995, (the
"Reform Act"), Congress encouraged public companies to make "forward-looking
statements" by creating a safe harbor to protect them from securities law
liability in connection with these statements. We intend to qualify both our
written and oral forward-looking statements for protection under the Reform Act
and any other similar safe harbor provisions.

         Generally, forward-looking statements include expressed expectations of
future events and the assumptions on which these expectations are based. All
forward-looking statements are inherently uncertain as they are based on
expectations and assumptions concerning future events, and they are subject to
numerous known and unknown risks and uncertainties that could cause actual
events or results to differ materially from those projected. Due to those
uncertainties and risks, the investment community is urged not to place undue
reliance on our written or oral forward-looking statements. We do not undertake
any obligation to update or revise these Risk Factors to reflect future
developments. In addition, we do not undertake any obligation to update or
revise forward-looking statements to reflect changed assumptions, the occurrence
of unanticipated events or changes to future operating results over time. These
Risk Factors supersede the Risk Factors filed as Exhibit 99.1 to our Quarterly
Report on Form 10-Q for the quarter ended September 30, 2001.

         We provide the following risk factor disclosure in connection with our
continuing effort to qualify our written and oral forward-looking statements for
the safe harbor protection of the Reform Act and any other similar safe harbor
provisions. Important factors currently known to our management that could cause
actual results to differ materially from those in forward-looking statements
include the disclosures contained in the Quarterly Report on Form 10-Q to which
this statement is appended as an exhibit and also include the following:

         Our Independent Public Accountants Have Expressed Doubts Over Our
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Ability to Continue as a Going Concern. We incurred net losses of approximately
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$8,812,321 for the year ended December 31, 2001. Our cash and cash equivalents
at December 31, 2001 was $1,030,398. Cash used in operations for the year ended
December 31, 2001 was $7,974,066. As of December 31, 2001, we had an accumulated
deficit of $44,474,012. As a result of our financial condition the independent
auditors' report covering our December 31, 2001 consolidated financial
statements and financial statement schedule contains an explanatory paragraph
that states that our recurring losses from operations and accumulated deficit
raised substantial doubt about our ability to continue as a going concern. We
have initiated actions to increase revenues, decrease operating costs and
restructure our loans from shareholders. We believe that our current cash and
cash equivalents and the access to funds through loans from our affiliates will
be sufficient to fund our operations for the remainder of 2002. Although we
intend to carefully manage our use of cash and improve profitability, we may be
required to further reduce our operations and seek additional financing from our
affiliates or others. We may seek to raise additional funds through public or
private equity financing or from other sources. We may also consider additional
options, which include, but are not limited to, forming strategic partnerships
or alliances and/or considering other strategic alternatives, including possible
business combinations. Other than our shareholders, we have not yet identified
the source of any additional financing, nor can we predict whether additional
financing can be obtained, or if obtained, the terms of such financing. Further,
there can be no assurance that any of the additional strategic alternatives will
be available, or if available, will be on terms favorable to us or our
shareholders.

         We Have Incurred a Significant Amount of Debt, Including Significant
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Debts to Shareholders, One of Which Is Controlled by Members of Our Board of
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Directors. In order to fund our operations in 2000 and 2001, we borrowed funds
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from two of our principal shareholders, Venturos AS ("Venturos") and Glastad
Holding Limited ("Glastad"), in exchange for Promissory Notes. Venturos is
controlled by Terje Mikalsen, who is a member of our Board of Directors. These
Promissory Notes have terms and provisions customary to such types of Notes. As
of December 31, 2001, an aggregate of $11,808,825 including interest is
outstanding pursuant to the Notes. Pursuant to the terms of Notes, in the event
we successfully complete either a private placement or a public offering of its
common stock in either the Norwegian or United States stock markets in which
gross proceeds of at least $2,000,000 are raised, the outstanding principal
balance of $6,683,825 shall be automatically converted into a number of shares
of our common stock equal to the then-outstanding principal amount of the Note
divided by 75% of the offering price per share in such offering. Venturos and
Glastad will also have the option of converting the outstanding interest on the
remaining Notes into shares of our common stock at the same discounted price per
share.

         Additionally, in December 2001, we entered into a credit facility with
Nordea Bank Norge ASA to borrow up to $3,350,000 pursuant to a Loan and Security
Agreement guaranteed by three of our shareholders. In connection

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with this Loan Agreement, we granted Nordea Bank a security interest in all of
our intellectual property, and we recorded a related Security Agreement in the
U.S. Patent and Trademark Office and the U.S. Copyright Office. Our agreement
with Nordea Bank Norge ASA provides that upon a failure of us to pay our debts
in accordance with the loan documents, Nordea Bank may exercise their security
rights to our intellectual property.

         We cannot be certain that we will be able to repay our secured loans in
a timely fashion, or at all, without requesting waivers or forbearance of such
debt. If we are unable to repay our debts as they become due, our secured
creditor may exercise its security rights, and as a result, seize all right and
title to our intellectual property. Such an exercise of rights would have a
material and adverse effect on our ability to continue our operations, and may
require us to cease operations.

         Our Results of Operations May Fluctuate. Our quarterly operating
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results have in the past and may in the future vary significantly depending on
factors such as:

     o   revenue from software licenses;

     o   the timing of new product and service announcements;

     o   market acceptance of new and enhanced versions of our products;

     o   the size and timing of significant orders;

     o   changes in operating expenses; and

     o   general economic factors.

         We have limited or no control over many of these factors. We operate
with a very small order backlog because our software licenses typically are
installed shortly after orders are received. As a result, revenues in any
quarter are substantially dependent on the quantity of orders received in that
quarter. Quarterly revenues also are difficult to forecast because the market
for our products is evolving and our revenues in any period are significantly
affected by the announcements and product offerings of our competitors as well
as alternative technologies. As a result, we believe that period-to-period
comparisons of our results of operations are not necessarily meaningful and
should not be relied upon as indications of future performance.

We Face Significant Competition from Companies that Have Greater Resources than
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We Do, and the Markets in Which We Compete Are Intensely Competitive, Highly
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Fragmented and Rapidly Changing. The development and marketing of digital image
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products and technologies are extremely competitive. Many of the companies
developing and marketing competitive technologies have competitive advantages
over us because they have established positions in the market, enjoy brand name
recognition, or have established ties with OEMs. Further, there can be no
assurance that our competitors will not succeed in developing products or
technologies that are more effective than those being developed by us or that
would render our products and technologies obsolete. In addition, many of our
competitors have substantially greater financial, technical, marketing and human
resources capabilities than us.

         Our Success Depends Upon the New Products We Develop and Our Ability to
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Improve Technology. In August 1999, we introduced our MediaBin platform, which
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was designed to provide efficient, accurate and timely utilization of image
assets for brand-centered corporations and other organizations that depend on
the efficient, accurate and timely utilization of image assets. We expect that
the majority of our future revenues will be derived from license, service and
maintenance fees for MediaBin software. As a result, our future operating
results are substantially dependent upon market acceptance of MediaBin and any
enhancements thereto. There can be no assurance that MediaBin will achieve
market acceptance, or that we will introduce enhanced versions of our products
on a timely basis to meet the evolving needs of our customers. Even if our
MediaBin platform achieves initial market acceptance, any material reduction in
demand for our products, increased competition, technological change or other
factors would have a material adverse effect on our business, operating results
and financial condition.

         If Our Software Contains Defects, Our Sales Are Likely to Suffer and We
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May Be Exposed to Legal Claims. Our products and product enhancements are very
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complex and may from time to time contain defects or result in failures that we
did not detect or anticipate when introducing such products or enhancements to
the market. Despite our testing, defects may still be discovered in some new
products or enhancements after the products or enhancements are delivered to
customers. The occurrence of these defects could result in:

     o   product returns;

     o   adverse publicity;

     o   loss of or delays in market acceptance of our products;

     o   delays or cessation of service to our customers; or

     o   legal claims by customers against us.

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         Our Business Is Dependent on Several Key Employees. Our success depends
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largely upon the continued services of these key employees. We cannot guarantee
that these employees will continue their service with us. The loss of any of
these key employees could have an adverse effect on our business.

         Infringement or Duplication of Our Proprietary Technology Could Harm
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Our Business. We currently rely on a combination of patent, trademark, service
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mark, trade dress, copyright, and trade secret laws, as well as confidentiality
provisions and contractual provisions to protect our proprietary technology.
However, we cannot guarantee that third parties will not infringe or duplicate
this technology and offer competing products that are substantially similar to
ours.

         We currently hold 22 issued U.S. patents, expiring in the period from
2009 through 2017, with 4 additional applications in process. We cannot
guarantee that any future applications to protect our intellectual property will
not be rejected. Even if they are not rejected, trademark, patent, copyright,
and trade secret protection may not be effective or available in every country
in which our products are distributed. Despite taking steps to protect our
rights, third parties could infringe or misappropriate our proprietary rights.
Also, most protections do not preclude competitors from independently developing
products with functionality or features substantially equivalent or superior to
our products. Any infringement, misappropriation or third-party development
could have a material adverse effect on our business, results of operations and
financial condition.

         In the future, litigation may be necessary to enforce and protect our
patents, trade secrets, copyrights and other intellectual property rights.
Litigation, regardless of its outcome, would divert management resources, be
expensive, and may not effectively protect our intellectual property.