It's because of their May 1 PR. They are relocating and that can be costly. Guess where they are getting the moving expence from. There's also a big chance of a R/S after the dilution. ---------------------------------
PrimEdge's DigiKidz Changes Name to "Prime Media, Inc." to Broaden Its Family-Entertainment Focus and New Strategy as Developer and Distributor of DVDs; Will Relocate to Burbank, CA Tuesday May 1, 8:45 am ET
BOCA RATON, FL--(MARKET WIRE)--May 1, 2007 -- PrimEdge, Inc. (Other OTC:PEDG.PK - News) announced today that its subsidiary, DigiKidz, Inc., a developer and distributor of family-entertainment DVDs, has changed its name to "Prime Media, Inc." in order to signal to major retail distribution channels and its market sector that it is broadening its product line beyond those products targeting a child audience and shifting its focus to mass market retail distribution.
Consistent with the changes, Prime Media will soon announce its new DVD line of titles. And although children will no longer be the sole focus of the DVDs, the titles will include several produced for children.
Additionally, Prime Media's corporate headquarters will be relocated to Burbank, California, to be near its sister-company, Orangebox Entertainment, Inc., a provider of production and post production services to the Entertainment Industry, and to be near the independent producer community to facilitate the development of its proprietary products.
Brian Schuster, Chairman and CEO of PrimEdge, stated, "The name DigiKidz was interpreted by retail channels as limiting us to children's lines. The new name, Prime Media, simultaneously repositions us and sets the stage for further developments as we build national distribution."
About PrimEdge, Inc.
PrimEdge, Inc., Boca Raton, Florida, is a diversified holding company, owning and overseeing the operations of two majority owned subsidiaries, Orangebox Entertainment, Inc., Burbank, California, a production and post production service provider to the Entertainment Industry, and Prime Media, Inc. (formerly DigiKidz, Inc.), Boca Raton, Florida, a producer and distributor of family entertainment DVDs.
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