Grand Entertainment & Music, Inc. Announces Sale of Mint Music Monday November 22, 2:46 pm ET
MONTREAL--(BUSINESS WIRE)--Nov. 22, 2004--Grand Entertainment & Music, Inc. (GENM: OTC) has sold its wholly owned subdivision, Mint Music, to Emilio Fulcro. Under the terms of this agreement, Emilio Fulcro has resigned as COO and from the Board of Directors of Grand Entertainment and Music. In addition, 88,049,999 shares are being retired to the Company's Treasury, thereby reducing the total number of issued and outstanding shares. The spokesperson for Grand Entertainment and Music stated that this is the first stage in its reorganization plan, which will be further outlined in forthcoming press releases. About Grand Entertainment & Music, Inc.
Based in Montreal, PQ, and incorporated in November 1998, the Company is an independent music producer that produces, promotes, markets and controls the copyrights on music recordings in multiple formats. Additionally, the Company's studios produce voice-overs and sound tracks for commercials and film, which are used on the radio, television and in theatres. The Company's mission is to become the premier production, recording and publishing company in the music industry.
For more information please contact Mr. F. Underhill at (514) 328-9348 ext. 601 or visit the Company website at www.gem-music.com.
Safe Harbor Statement
This release contains forward-looking statements with respect to the results of operations and business of Grand Entertainment & Music (GEM) Inc., which involves risks and uncertainties. The Company's actual future results could materially differ from those discussed. The company intends that such statements about the Company's future expectations, including future revenues and earnings, and all other forward looking statements be subject to the "Safe Harbors" provision of the Private Securities Litigation Reform Act of 1995.
-------------------------------------------------------------------------------- Contact: Grand Entertainment & Music, Inc. Mr. F. Underhill, (514) 328-9348 ext. 601 info@gem-music.com www.gem-music.com
-------------------------------------------------------------------------------- Source: Grand Entertainment & Music, Inc.
posted
Tis the season for quite times and low trading. I'm thinking we're going to see some good growth come the first quarter of 2005
Posts: 7 | Registered: Dec 2004
| IP: Logged |
posted
GENM possiable restrucureing, I have heard that the outstanding may be decreased up to half and the float is about 270M, if that is the case it should take a run.
Posts: 61 | Registered: Dec 2004
| IP: Logged |
posted
Grand Entertainment & Music, Inc. Founders To Retire 620,192,857 Shares in Aggressive Pursuit of their Internet Distribution and Digital Download Strategy
Wednesday, January 05, 2005 09:01 ET
MONTREAL, Jan 5, 2005 (BUSINESS WIRE) --A spokesperson for Grand Entertainment & Music, Inc. (OTC:GENM) today announced a re-capitalization of the company, which will reduce the total issued and outstanding shares by over 50%. On a fully diluted basis, Company founders Fred Berlin and Peter Stocola will retire 620,192,857 shares by January 7, 2005. In exchange for these shares, the Board of Directors has passed a resolution to issue a 3-year convertible note to both founders in the amount of $384,000 convertible at $0.01, or 38,400,000 shares. The two founders have agreed to restrict the conversion of the note into three tranches, i.e. one-third at the end of six months, the second-third at the end of twelve months and the balance at the end of 18 months. In addition, the founders have agreed that their 150,000,000 Class A Preferred shares that currently convert to common shares on a 1:1 basis will be changed to a conversion ratio of 3 preferred shares to 1 common share, which would reduce the number of common shares available for the conversion to 50,000,000 shares from 150,000,000 shares.
CEO Fred Berlin stated: "The founders shares were recently awarded by the Board of Directors based on three-years worth of approved compensation. However, in hindsight, Peter and I have decided to voluntarily retire these shares for the benefit of the company and all shareholders including ourselves as we prepare to pursue our original business plan in the dynamic Internet distribution and digital download field." Fred Berlin further stated: "Five years ago when we signed our first full agreement with MP3.com, ironically at that time we were laughed at in the marketplace. Here we are today full circle, five years later, where the technology has finally caught up to us."
About Grand Entertainment & Music, Inc.
Based in Montreal, PQ, and incorporated in November 1998, the Company is an independent music producer that produces, promotes, markets and controls the copyrights on music recordings in multiple formats. Additionally, the Company's multi-million dollar studios produce voice-overs and sound tracks for commercials and film, which are used on the radio, television and in theatres. Cherry Studios has produced thousands of records in its studios and has to its credit a total of 23 Gold and Platinum records. GENM, a pioneer in the Internet distribution and digital download field, currently owns and controls all its content and distribution rights. Having both content and distribution rights enables GENM to entrench itself in the Internet distribution and download business before the majors enter the market. The Company's mission is to become the premier production, recording, publishing and Internet Distribution Company in the music industry. In addition, its mission is to become a leading consolidator of quality music catalogues.
For more information please contact Mr. McDougall at (514) 328-9348 ext. 601 or visit the Company website at www.gem-music.com.
Safe Harbor Statement
This release contains forward-looking statements with respect to the results of operations and business of Grand Entertainment & Music (GEM) Inc., which involves risks and uncertainties. The Company's actual future results could materially differ from those discussed. The company intends that such statements about the Company's future expectations, including future revenues and earnings, and all other forward looking statements be subject to the "Safe Harbors" provision of the Private Securities Litigation Reform Act of 1995.
SOURCE: Grand Entertainment & Music, Inc.
Grand Entertainment & Music, Inc. Mr. McDougall, 514-328-9348 ext. 601 info@gem-music.com www.gem-music.com
posted
I bought 2 million shares at the opening bell this morning. A lot of shares were bought in the .0014-.0015 range right at the HOD. Hopefully it'll start running again after lunch.
Posts: 2049 | From: Jax,FL,USA | Registered: Nov 2003
| IP: Logged |
quote:Originally posted by Malloy: Getting ready after MM tried to shake it down all morning and couldnt.
what do you think this pr will do for this in the up coming week? and i know no one can answer this but just opinions on what everyone thinks this could get up to and about when.
Posts: 2270 | From: andalusia, IL, USA | Registered: May 2004
| IP: Logged |
posted
OS being now around 600M, this is quite low for a subpenny. But, what i hope for the most is that MM have shorted this stock down to where it was on monday and now run scare to cover those shares (Short Squeeze).
If this happens, we will see the stocks go up a couple tick.
For now, .0015 seems to be holding...we have to break it.
quote:Originally posted by stnkng1: what do you think this pr will do for this in the up coming week? and i know no one can answer this but just opinions on what everyone thinks this could get up to and about when.
posted
Shake and bounce...big fight going around .002...
Also, GENM was on the Short list...since we have no numbers, I dont know how much it was shorted but if pressure stays good at bid, MM will have to move up to cover.
Posts: 2691 | Registered: Dec 2003
| IP: Logged |
posted
Grand Entertainment & Music, Inc. Completes Share Reduction
Wednesday, January 12, 2005 09:01 ET
MONTREAL, Jan 12, 2005 (BUSINESS WIRE) --Fred Berlin, CEO of Grand Entertainment & Music, Inc. (OTC: GENM), today announced the completion of the re-capitalization that was disclosed in its press release dated January 5th, 2005. On that date the following was announced: "On a fully diluted basis, Company founders Fred Berlin and Peter Stocola will retire 620,192,857 shares by January 7, 2005. In exchange for these shares, the Board of Directors has passed a resolution to issue a 3-year convertible note to both founders in the amount of $384,000 convertible at $0.01, or 38,400,000 shares. The two founders have agreed to restrict the conversion of the note into three tranches, i.e. one-third at the end of six months, the second-third at the end of twelve months and the balance at the end of 18 months. In addition, the founders have agreed that their 150,000,000 Class A Preferred shares that currently convert to common shares on a 1:1 basis will be changed to a conversion ratio of 3 preferred shares to 1 common share, which would reduce the number of common shares available for the conversion to 50,000,000 shares from 150,000,000 shares."
The actual number of common shares retired by the two founders was slightly higher than previously announced and totaled 526,576,190. In addition to the retirement of these shares, an additional 103,073,999 common shares have been retired from a former officer and former consultant; bringing the total number of common shares retired to 629,650,189. When the 100,000,000 share reduction due to the change of the convertible preferred ratio is added in, the fully diluted number of shares have been reduced by 729,650,189. Now that these shares have been retired, the total number of common shares issued and outstanding as posted at our transfer agent has been reduced to 633,240,103.
CEO Fred Berlin stated: "Peter and I have been overwhelmed by the favorable response we have received from our shareholders in phone, email and personal contact as well as the reaction of our stock in the stock market, over our decision to give back the compensation shares originally awarded by our Board of Directors in favor of the much more performance oriented $0.01 convertible note. With this completed, we will be notifying Pink Sheets.com of the new reduced total share count and filing a 15c211 which we believe will make our shares more attractive to shareholders due to better transparency." Mr. Berlin went on to say: "With the advent of downloadable digital music, the demand for our content is beginning to grab serious attention. While we are happy to see that the digital revolution in music has caught up with us as I mentioned in our last PR, we are realists and do not intend to directly compete with industry giants such as iTunes, Napster and several others. Instead, we intend to be a content provider and quality music consolidator with our current catalog as well as others under current discussion. Additionally, due to our long standing reputation as a quality independent music producer, promoter and marketer, we have been approached by several entities to joint venture or partner with on projects that could have a major impact on shareholder value over the next twelve months." Mr. Berlin also stated: "While we did find it necessary to issue shares last year to get us through some lean times, with cash flow increasing nicely and our now solid almost debt- free balance sheet, we feel that our current market value of approximately $1 million only represents a fraction of the value of our studios alone and we do not intend to issue any additional equity until our value is more properly reflected in the market".
About Grand Entertainment & Music, Inc.
Based in Montreal, PQ, and incorporated in November 1998, the Company is an independent music producer that produces, promotes, markets and controls the copyrights on music recordings in multiple formats. Additionally, the Company's multi-million dollar studios produce voice-overs and sound tracks for commercials and film, which are used on the radio, television and in theatres. Cherry Studios has produced thousands of records in its studios and has to its credit a total of 23 Gold and Platinum records. GENM, a pioneer in the Internet distribution and digital download field, currently owns and controls all its content and distribution rights. Having both content and distribution rights enables GENM to entrench itself in the Internet distribution and download business before the majors enter the market. The Company's mission is to become the premier production, recording, publishing and Internet Distribution Company in the music industry. In addition, its mission is to become a leading consolidator of quality music catalogues.
For more information please contact Mr. McDougall at (514) 328-9348 ext. 601 or visit the Company website at www.gem-music.com.
Safe Harbor Statement
This release contains forward-looking statements with respect to the results of operations and business of Grand Entertainment & Music (GEM) Inc., which involves risks and uncertainties. The Company's actual future results could materially differ from those discussed. The company intends that such statements about the Company's future expectations, including future revenues and earnings, and all other forward looking statements be subject to the "Safe Harbors" provision of the Private Securities Litigation Reform Act of 1995.
SOURCE: Grand Entertainment & Music, Inc.
Grand Entertainment & Music, Inc. Mr. McDougall, 514-328-9348 ext. 601 info@gem-music.com www.gem-music.comPosts: 2691 | Registered: Dec 2003
| IP: Logged |
i have been waiting for a long time for this thing to go. does anyone think this could move to .0035
Posts: 2270 | From: andalusia, IL, USA | Registered: May 2004
| IP: Logged |
posted
The CEO converted is shares (those that were taken off the market) to a smaller number worth .01...and payable only in the next few years...I guess he believes it will go much higher than .0035
quote:Originally posted by stnkng1:
quote:Originally posted by Fallstaff: It's on the move. Lookin' to pop.
quote:Originally posted by Malloy: The CEO converted is shares (those that were taken off the market) to a smaller number worth .01...and payable only in the next few years...I guess he believes it will go much higher than .0035
quote:Originally posted by stnkng1:
quote:Originally posted by Fallstaff: It's on the move. Lookin' to pop.
i have been waiting for a long time for this thing to go. does anyone think this could move to .0035
so are you saying this isnt gonna move for the next few years or what. i asked if anyone thinks this could get to .0035 in the near future so what do you think malloy
-------------------- Derek S Posts: 2270 | From: andalusia, IL, USA | Registered: May 2004
| IP: Logged |
posted
With the volume going at 1/4 of the OS, something has to happened...
Volume avg is 150M and OS about 600M...a lot of scalping IMO.
quote:Originally posted by stnkng1:
quote:Originally posted by Malloy: The CEO converted is shares (those that were taken off the market) to a smaller number worth .01...and payable only in the next few years...I guess he believes it will go much higher than .0035
quote:Originally posted by stnkng1:
quote:Originally posted by Fallstaff: It's on the move. Lookin' to pop.
i have been waiting for a long time for this thing to go. does anyone think this could move to .0035
so are you saying this isnt gonna move for the next few years or what. i asked if anyone thinks this could get to .0035 in the near future so what do you think malloy
posted
SORRY BUT DOES OS MEAN HOW MANY SHARES ARE LEFT OUT THERE TO PURCHASE. AND AS MEAN HOW MANY TOTAL SHARES THERE ARE AM I RIGHT. SO IF THERE IS 1 MILLION AS SHARES AND ONLY 999,999 OS SHARES DOES THAT MEAN THERE IS ONLY 1 SHARE LEFT? I KNOW THAT WOULD NEVER HAPPEN BUT IS THAT HOW IT WORKS. AND IF IT DID HAPPEN THE PRICE WOULD BE HIGH RIGHT
-------------------- Derek S Posts: 2270 | From: andalusia, IL, USA | Registered: May 2004
| IP: Logged |
i was told so many times that this stock would make it to .035-.05 this year and i am still preying
Posts: 2270 | From: andalusia, IL, USA | Registered: May 2004
| IP: Logged |
posted
yes everyone should get into this is gonna climb back up the mountain. i beleive it could make it back up past .0055 it is well over 50 day MA if if it breaks the 200 it could easily pass .0055 and go right to .01. IMAO this is not a daytrader because you wont see it go up and down for awhile it will slowly rise if not take off like a rocket.
-------------------- Derek S Posts: 2270 | From: andalusia, IL, USA | Registered: May 2004
| IP: Logged |
posted
What kills me is that i thought they were diluting the market cuz you would see staggering volume with no movement in price. All of a sudden, a PR comes out stating the opposite. By that time, it had already bounced off the lows (0.0004). Didn't wanna take a chance after that.
Posts: 167 | Registered: Feb 2004
| IP: Logged |
Grand Entertainment & Music, Inc. Pronounces MIDEM 2005 a Tremendous Success
Tuesday , February 01, 2005 09:00 ET
MONTREAL, Feb 1, 2005 (BUSINESS WIRE) --Today a spokesperson for Grand Entertainment & Music, Inc. (OTC: GENM) pronounced the MIDEM 2005 international music conference a tremendous success. GEM is proud to announce that it is in the advanced stages of negotiations with several prominent Internet and music companies that attended MIDEM 2005 to expand its quality music catalogue and enhance its product portfolio. In addition, the Company has multiple contracts pending with several MIDEM participant companies to license its masters for distribution in various countries throughout the world. CEO Fred Berlin stated, "MIDEM 2005 has been very productive this year. Aside from our pending contracts and the full acceptance of our e-commerce solution, an extremely proud moment for the Company was the appointment of music industry veteran Franco DiMarco to the GEM family." Berlin went on to state, "Upon the finalization of the present negotiations, GEM's music catalogues and revenue will significantly expand. Further details will be disclosed in the coming weeks."
GEM's spokesperson also stated that the Company's e-commerce solution is expected to launch within the next two weeks. The design phase has been finalized and the Company is pleased to report that it was extremely well accepted at MIDEM 2005. GEM is in the process of signing several webmaster agreements that will be completed in the coming week. This e-commerce website will function as an e-music store that offers both proprietary GEM music content as well as music produced by other companies. The site will enable the general public to download individual titles; create their own compilations; and purchase commercially-available music CDs and DVDs.
About Grand Entertainment & Music, Inc.
Based in Montreal, PQ, and incorporated in November 1998, the Company is an independent music producer that produces, promotes, markets and controls the copyrights on music recordings in multiple formats. Additionally, the Company's multi-million dollar studios produce voice-overs and sound tracks for commercials and film, which are used on the radio, television and in theatres. Cherry Studios has produced thousands of records in its studios and has to its credit a total of 23 Gold and Platinum records. GENM, a pioneer in the Internet distribution and digital download field, currently owns and controls all its content and distribution rights. Having both content and distribution rights enables GENM to entrench itself in the Internet distribution and download business before the majors enter the market. The Company's mission is to become the premier production, recording, publishing and Internet Distribution Company in the music industry. In addition, its mission is to become a leading consolidator of quality music catalogues.
For more information please contact Investor Relations at (514) 328-9348 ext. 601 or visit the Company website at www.gem-music.com.
Safe Harbor Statement
This release contains forward-looking statements with respect to the results of operations and business of Grand Entertainment & Music (GEM) Inc., which involves risks and uncertainties. The Company's actual future results could materially differ from those discussed. The company intends that such statements about the Company's future expectations, including future revenues and earnings, and all other forward looking statements be subject to the "Safe Harbors" provision of the Private Securities Litigation Reform Act of 1995.
SOURCE: Grand Entertainment & Music, Inc.
Grand Entertainment & Music, Inc. Investor Relations, 514-328-9348 ext. 601 info@gem-music.com www.gem-music.com
Copyright (C) 2005 Business Wire. All rights reserved.
UBBFriend: Email this page to someone!
Printer-friendly view of this topic
