posted December 06, 2005 08:53 -------------------------------------------------------------------------------- Raven Moon Receives $4.76 Million in New Financing to Complete 40 Episodes of GINA D'S KIDS CLUB(R) for PBS 12/6/2005
American Public Television and WPBT/Miami Have Offered 23 Brand New, Never-Seen Episodes of GINA D'S KIDS CLUB(R) to Public Television Stations Targeted for a June 2006 Launch
ORLANDO, Fla., Dec 06, 2005 /PRNewswire-FirstCall via COMTEX/ -- Raven Moon Entertainment, Inc. (OTC Bulletin Board: RVMN) is pleased to announce that it has received $4.76 million in new financing from MG Studios in order to produce 17 episodes of GINA D'S KIDS CLUB(R). The additional episodes will bring the total number available for public television stations to 40.
The $4.76 million from MG Studios is in addition to the $5.0 million in financing it has invested in Raven Moon more than a year ago. MG Studios has extended the additional financing to Raven Moon Entertainment based on the company's good standing with its payments. "Raven Moon is a cash-and-carry company. They have paid in full for all episodes to date. MG Studios is very happy to be a partner with the company in creating high-quality children's television programming and we are excited about the prospects for the show and for Raven Moon," said Mike Gibilisco, President and Owner of MG Studios.
Raven Moon's Board approves 5-for-1 forward split to reward shareholders who hold and acquire stock in the last month of 2005
Last week, Raven Moon's 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.
About Raven Moon Entertainment, Inc.
Raven Moon Entertainment, Inc. is involved with the production of family entertainment programs for television, VHS tapes, DVDs, music CDs and related toys. Raven Moon has produced 24 episodes of GINA D'S KIDS CLUB(R), which started airing in September 2004 and is currently carried on 227 television stations nationwide. 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 early elementary school-aged children on a premier pre-school destination like public television.
-------------------- Lil,
Dont LOSE more than you can afford to invest....LOL
I'm buying low and selling into the run...
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