Basically from what I gather, Image is a new brand which will cater for younger riders.
It's pretty clear to see that Image are affiliated with Onza just by looking at the photo's above - The headtube is from the Genesis - Booster and gussets at the rear end which join the top tube and seat stays are from the limey 4 and the fact Adam is riding it are a dead give away.
Although i'm not sure how reliable the information about Onza going bust is, i'm pretty sure this company will be a back up in case worst comes to worst.
Looking good though.