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Dustoff, I do own some shares. I've been reading up on the company and just wanted to share info such as the salary structure which follows.
RAVEN MOON ENTERTAINMENT, INC. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS December 31, 2004 and 2003 Note 8 -- COMMITMENTS AND CONTINGENCIES
The Company has entered into an employment contract with the officers, Joseph and Bernadette DiFrancesco. At the October 19, 2004 Board of Directors meeting, the Board approved extending Joseph and Bernadette DiFrancesco's contract an additional seven years after the current contract expires in exchange for a signing bonus of non-diluting preferred shares. The preferred shares shall be convertible to common stock at a 20% discount to market based upon the previous 10 day average and will carry non-diluting rights equivalent to 40% of the common shares issued and outstanding as long as the shares are held by Joseph and Bernadette DiFrancesco or their assigns. Under the terms of the agreement, the Company is obligated to make the following annual payments through November 15, 2012:
In addition, the officers are to receive a "Founders" royalty of 10% for any entertainment revenue received by the Company for any entertainment project developed and or produced by the Company during the term of this agreement. This royalty will be paid between November 16th and December 31st in perpetuity.
The Company has entered into various month-to-month verbal agreements with unrelated third parties to provide production, marketing and administrative services. Payments are made based on invoices rendered for specific services provided.
On May 1, 2004 the Company entered into a two consulting agreements. These agreements require the individuals to provide executive assistants advice and production services to the Company for a ten-month period. The individuals are to be paid $500,000 each. The payments will be made with registered shares of common stock issued in ten equal installments at a 50% discount from the closing bid price for the preceding ten days, commencing on May 1, 2004 and every month thereafter for nine months. On October 4, 2004 the Board of Directors amended these agreements increasing the compensation for November, December 2004 and January 2005 to $100,000 per month for each consulting agreement.
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2005 Q1 gross profit $13 (yes, thirteen dollars) Total Deficit $29,203,722 Public Float 20 billion
The Company paid Gina Mouery (daughter of company owners) over the last THREE months:
$6,000 as an advance on future royalties $752 a month for a leased car $1,000,000 of registered shares of common stock $80,000 for the three-month period Gina Mouery exercised 19,224,113 options for $458,070. 227,844,050 shares of common stock for talent fees
quote:Originally posted by makinmoney: Posted by Purl Gurl on May 16, 2005 23:14:
This will make you howl at the moon.
Raven Moon Entertainment, 10Q filed today.
2005 Q1 gross profit $13 (yes, thirteen dollars) Total Deficit $29,203,722 Public Float 20 billion
The Company paid Gina Mouery (daughter of company owners) over the last THREE months:
$6,000 as an advance on future royalties $752 a month for a leased car $1,000,000 of registered shares of common stock $80,000 for the three-month period Gina Mouery exercised 19,224,113 options for $458,070. 227,844,050 shares of common stock for talent fees
Sucks to be Gina.
* howls *
Purl Gurl
**gulp,** I think I know a pumper who won't be getting a star on his chart...
nice post re history, track record...
-------------------- Nashoba Holba Chepulechi Adventures in microcapitalism...
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"Because retailers will not give a product a second chance if the product does not sell off the shelf, the key for revenue success in this industry is television saturation. If the programs that we produce receive viewer saturation similar to 'Barney' or 'Sesame Street' and build a following of young viewers who will create a demand for the product, then the company stands a good chance of cashing in on a piece of this billion dollar licensing and merchandising industry.
Many companies fail because they give up half-way through this process. Many companies fail because their management team does not have the passion to succeed. Fortunately for Raven Moon, neither will occur.
We have been following our business plan by beefing up our syndication, marketing and production efforts with more and more stations coming on board and the production of four new episodes scheduled for December. This is a long term process that will be completed for our loyal stockholders." stated Joey DiFrancesco, Raven Moon CEO.
ClubHouse VideosThe first 24 episodes of "Gina D's Kids Club" have already been produced and are running on over 160 television stations nationwide. "Gina D's Kids Club" is positive family value entertainment incorporating catchy sing-along songs and funny live animation characters. For a list of where "Gina D's Kids Club" is being aired please go to http://www.ginadskidsclub.com and click on "Where's Gina".
The award winning Public Service Announcement (PSA) "Mr. Bicycle Man" is included with the first episode and teaches the importance of bicycle safety. The PSA has run on over 190 television stations in 45 states and has helped bring recognition to the "Gina D's Kids Club".
posted
International Resorts And Entertainment Group, Inc. Shareholders Accept Merger Offer
ORLANDO, Fla., Nov. 19 /PRNewswire/ -- International Resorts and Entertainment Group, Inc. (OTC Bulletin Board: IRAE) has accepted an offer to merge with Ybor City Shuttle Services, Inc. approved and effective November 16, 1998 by the shareholders of both companies.
The offer was tendered at $0.75 per share on a 15 to 1 share basis. Fifteen shares of International Resorts and Entertainment Group, Inc. stock for one share of Ybor City Shuttle Services, Inc. common stock, which has set a market value of $12.00 per share based on the sale of its restricted common stock.
The tendered offer was made because of IRAE's 3rd quarter profits of $414,000 ending September 30, 1998, the fully paid-for master CD and video recordings of Dave Trezak and The Village of Many Tribes (a Native American group) and the fully paid-for master CD and video recordings of Camp Itchyfish with Gina D. and Camp Itchyfish Adventures-Journey to the Land of Dinosaurs. Both products are ready to be sold in December on the Internet and through public broadcasting television stations. Ybor was interested in diversifying into the entertainment industry and this opportunity serves that purpose.
In addition, IRAE has a marketing contract asset of $1,400,000, of which $350,543 has been paid to date with $1,094,450 still due and payable to provide public relations services to a 501-C3 non-profit organization called The Village of Many Tribes, Inc. Raven Moon Music, Inc., a wholly owned subsidiary of IRAE, has a number of television, film and recording intellectual production project rights in development including: -- Praise-r-cise 2000 -- Baby and The Transistor Sisters -- Team Amazon -- The Terry Jones Story -- Johnny Rise and The Tequila Sunrise Band -- The Baltimore & Ohio Marching Band
The intent is to market these projects through the Internet and public broadcasting stations as well.
Recently, Raven Moon Entertainment, Inc. acquired CustomTone Hearing Corp. of Memphis, Tennessee and all of its related patents, which will be innovatively marketed through the dental industry. This product will sell for one-third less than what is currently on the market and the company has stated a potential profit of $9,000,000 net over the next five years. The company has also stated obligations of $226,961 currently due and payable to a number of individuals and companies for loans, legal services, accounting services and acquisitions.
Part of the merger agreement also was the acceptance of the resignation of Joey DiFrancesco and Bernadette DiFrancesco as officers and directors and Gina Mouery, a director, of IRAE and its subsidiary companies. The agreement provides total indemnity, through a general release, of all claims, actions, stockholder lawsuits, liabilities, judgments and demands from stockholders of IRAE, its subsidiaries and Ybor City Shuttle Services, Inc., their assigns and successors, in exchange for all unpaid director fees and salaries due to the three individuals. In addition Joey and Bernadette DiFrancesco have been appointed as special consultants to Ybor City Shuttle Services, Inc., the surviving corporation, and its subsidiaries for a period of one year from November 16, 1998 to assist during the transitional period.
The company shall actively pursue its original goal of a Shuttle Service in entertainment areas. However, the surviving public company shall change its name to Raven Moon International, Inc. and change its address from Ybor City to 250 International Parkway, Suite 114, Heathrow, Florida 32746 with the number of authorized shares of stock at 100,000,000 shares. Wallace L. Strawder, President of Ybor City Shuttle Services, Inc., shall continued as interim president of the surviving company until a new CEO is elected at the next annual meeting.
The shareholders of IRAE overwhelmingly approved the merger on November 16, 1998. All trading for IRAE should cease immediately. Subsequent trading shall be in the name of the surviving company. A new symbol is being applied for at this time. A subsequent press release shall be issued when that symbol is assigned.
Disclaimer
This release contains "forward-looking statements" that are made pursuant to the safe harbor provisions of the private securities Litigation Reform Act of 1995. Investors are cautioned that known and unknown risks, uncertainties and other factors may cause actual results and performance of achievement of International Resorts and Entertainment Group, Inc. and its subsidiaries to be materially different from any future results or performance of achievement expressed or implied by such forward-looking statements. There can be no assurance that any of the business dealings described in this release will commence, or if commenced, that they will be completed, or if completed, that they will be successful.
SOURCE International Resorts and Entertainment Group, Inc.
/CONTACT: Joey DiFrancesco, International Resorts and Entertainment Group, 407-805-9131/ (IRAE)
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[quote]Part of the merger agreement also was the acceptance of the resignation of Joey DiFrancesco and Bernadette DiFrancesco [my emphasis -- BT] as officers and directors and Gina Mouery, a director, of IRAE and its subsidiary companies. The agreement provides total indemnity,[/i]
If true, and they've really shed Joey and Bernie? This *does* make a difference...and apparently "Bonnie & Clyde" got a "pardon" with indemnity...too bad, lol
Still, 'money's earlier post shows the company still on the hook for their rather large salaries, yes...?
Good stuff, makinmoney...
keep posting
-------------------- Nashoba Holba Chepulechi Adventures in microcapitalism...
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quote:Originally posted by veeger486: Oh is buytex and dustoff101 trying to gang up on me agian and try to prove me wrong in every way they can?
Man you're lucky I'm not on your case yet... the three of us together are unstopable... add glassman to the mix and you will soon be living as a hermit in the backwoods of carolina.
-------------------- Spend Word For Word With Me And I Shall Make Your Wit Bankrupt.
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dusty, you are right... we have found Bagdad Bob and he is pumping ravenmoon... Goodluck meeger... ummm I mean veeger... you are really onto something here... if you leap before looking deny what you see after...
-------------------- Spend Word For Word With Me And I Shall Make Your Wit Bankrupt.
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Wow that is tempting... but I have this little rule about companies with just a tad over a gazillion shares on the market... What was that rule? I know it's around here somewhere. Ahhah here it is. Don't buy shares in any company with over a gazillion shares on the market. Ohh wait what's this... a sidenote to the rule. These companies are often pumped by shallow witted guys with easily manipulated screen names.
Wow meeger... seems that last part kinda fits you... how odd.
-------------------- Spend Word For Word With Me And I Shall Make Your Wit Bankrupt.
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posted
Is there anyone here holding their RVMN shares for the 5 for 1 forward split that takes in effect in January? Should shareholders sell when this stock starts to move or hold to get more shares?
-------------------- "NEVER UNDERESTIMATE THE POWER OF THE U.S./CHINA CONNECTION"
posted
Im 110% sure 70% of the people are gonna hold on to them for the 5-1 split so the stock is gonna do really well. In the next month but riescodiqui and BuyTex and Dustoff101 are to blind to see what is happening
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