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Raven Moon's Board Approves 5-for-1 Forward Split to Reward Shareholders Who Hold and Acquire Stock in the Last Month of 2005 12/1/05
ORLANDO, Fla., Dec 01, 2005 /PRNewswire-FirstCall via COMTEX/ -- Raven Moon Entertainment, Inc. (OTC Bulletin Board: RVMN) announced today that its Board of Directors and majority stockholders approved a forward stock split on a 5-for-1 share basis. The record date for the forward split is December 31, 2005. The effective date will be January 30, 2006.
As a result of the forward stock split, every one outstanding share of the company's common stock will be exchanged for five new shares of common stock. Common stockholders are not required to take any action related to the forward split.
"The forward split will increase the holdings of our shareholders, including all those current and new shareholders who have exercised their 100- for-1 warrants before December 31, 2005," said Joey DiFrancesco, Chairman and CEO of Raven Moon. "We have been making good progress in executing our strategy of increasing the visibility of GINA D'S KIDS CLUB(R), which will increase demand for toys and other products based on the show's characters. Building a following is a lengthy process but we have come a long way since the show first aired in September 2004. We have produced 24 episodes of the show and expanded our market reach to include 227 stations that carry the show. Earlier this month, we signed an agreement with WPBT/Channel 2 in Miami to become public television's exclusive presenting station for our show. Further, American Public Television (APT) has offered the series for distribution, with a targeted June 2006 release. These activities represent our growth strategy, which is augmented by the 'Gina D's Reading Across America Program'(TM) and other public appearances to promote the show and reinforce its value to its pre-school audience. The 5-for-1 forward split and the 100-for-1 warrant dividend are two ways that we can show our appreciation for our shareholders for their loyalty as we work to grow the company."
ABOUT GINA D'S KIDS CLUB:
GINA D'S KIDS CLUB(R) was launched in September 2004 as a once-a-week series in selected markets. In November 2005, an exclusive agreement was signed with public television station WPBT Miami designed to expand the reach of GINA D'S KIDS CLUB(R) for pre-school and early elementary school-aged children on a premier pre-school destination like public television.
The program is a family friendly show that provides educational content in an original and entertaining format, at the same time inspiring and reinforcing positive values. Gina D (R) invites children to join her in a familiar yet highly imaginative world that is filled with original, uplifting songs, state-of-the-art animation, puppets and live action characters. The programs are produced by Emmy Award-winning executive producers Joey & Bernadette DiFrancesco for Raven Moon Entertainment, Inc. based in Orlando, FL.
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I hate these....if you read the article you would of saw that record holders of 12-31-05 will receive 5 shares for 1. But later it stats that shareholders will have an option to 100-1 dividend warrants. Sounds like the market is going to get flooded with shares. Also, it only gave a time frame of 12-31-05 for the warrants....so here is my question....
If they exercise their warrants before 1-1-06. When do they get their 100 shares per share???? I bet why you guys would be buying....those people are going to be selling.
Look back at GAXY....they issed 5-4 and then the stock crashed big time. Although they lowered the price 20% to give everyone 20% more shares...??? but that is how they did it and now its basically worthless.
Posts: 2367 | From: Detroit | Registered: Mar 2005
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