posted
Grand Entertainment & Music, Inc. Offers Update on Buyout Proposal Tuesday October 24, 7:00 am ET
MONTREAL--(MARKET WIRE)--Oct 24, 2006 -- Grand Entertainment & Music, Inc. (Other OTC:GMSC.PK - News) would like to offer an update on its recent buyout proposal.
ADVERTISEMENT Last week, a private company signed a non-binding letter of intent to purchase Grand Entertainment's outstanding common shares. Officers, Board Members, and consultants met over the weekend to discuss the buyout proposal, and after several days of meetings it was decided that the buyout is not in the best interest of the company and its shareholders.
Grand Entertainment is dedicated to doing what is best for the company and its shareholders. It was decided that this is not the right time to sell, nor was the offer price reasonable. If selling the company becomes an option again in the future, the company would demand a much higher per share price. During this weekend meeting, the company also considered a plan to return some shares back into treasury, which would reduce the overall outstanding share count. All details will be forthcoming once they are reviewed and finalized.
"It is always a good idea to entertain all offers," stated president Fred Berlin. "Due to the recent success of the Qbanito CD launch party and other future plans and events, it just isn't the right time to sell. After several hours of meetings with consultants and board members, we decided that it was in our shareholders' best interest to reject the offer. We have a lot of big things planned for the future, and we felt that the $.02 offer was just too low."
The company would also like to take this opportunity to announce that the corporate website has been updated with the latest pictures from the Qbanito Spanish album launch party. Please visit www.gmsc-info.com.
About Grand Entertainment & Music, Inc.
Based in Montreal, PQ, and incorporated in November 1998, the Company is an independent music company 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. GEM, 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 will enable the company to fulfill its mission of becoming a leading consolidator of quality music catalogues as well as a premier production, recording, publishing and Internet distribution company in the music industry.
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:
Contact: Grand Entertainment and Music, Inc. Investor Relations (866) 795-4366 IR*Gmsc-info.com http://www.gmsc-info.comPosts: 1128 | From: Houston, TX | Registered: Feb 2006
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nice, i like this part ".02 is just too low" that means we're goin' much higher in the near future.
Posts: 4071 | Registered: Dec 2005
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also GMSC "to return some shares back into treasury, which would reduce the overall outstanding share count."
Posts: 4071 | Registered: Dec 2005
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Yea, excellent news. Expect MMs to try to keep this low. With buying pressure, we'll have a good day today.
Posts: 1128 | From: Houston, TX | Registered: Feb 2006
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-------------------- The difference between genius and stupidity is that genius has its limits Posts: 10204 | From: NYC | Registered: Mar 2006
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"It is always a good idea to entertain all offers," stated president Fred Berlin. "Due to the recent success of the Qbanito CD launch party and other future plans and events, it just isn't the right time to sell. After several hours of meetings with consultants and board members, we decided that it was in our shareholders' best interest to reject the offer. We have a lot of big things planned for the future, and we felt that the $.02 offer was just too low."
-------------------- LIFE IS 10% HOW YOU MAKE IT AND 90% HOW YOU TAKE IT! Posts: 9276 | From: San Diego CA | Registered: Jul 2006
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Posted by: kingguy In reply to: None Date:10/24/2006 4:39:04 PM Post #of 896
Listen, the stock trades 44 million a day average for the last 10 trading days. I don't want to say anything negative about the mystery group that profiled the stock recently but on arguably the best news ever for the company it only trades 30 million and that's the day of their profile. They think it goes to .03 and one day they will look like geniuses but they didn't really have much of an impact in today's market, nor do I think they tried to. *************.com has sort of profiled GMSC on their home page in their otc:bb section 3-4 times in the last few weeks and displayed a buy recommendation for the stock at .0043 six days ago. Everyone is a genius that mentioned the stock when it hit the .0012-.002 range. I don't care!!!
I know what my research tells me about this company and stock. I also gather more research daily with the help of a small team that are also shareholders. I have met some shareholders recently that also own a ton and I'm beginning to know with some aggressive certainty that there are very few shares left for sale. Most people have a cost of .05 or higher on their shares, even after averaging down their positions recently. Someone is shorting this stock because of the big move that it had recently and they really want to shake sellers out here or lower to cover. It's not working nearly as well as they had hoped. I estimate for every share they cover on the bid they are shorting three to four times as many in holding it down.
I am not going to be posting as much from now on. I have way too much work to do now with my investment in the company and for the investment that my friends and family now own. I am going to visit the company in Montreal soon, meet any associates they have in Canada, Florida, New York , everywhere. I can not report back everything I find out for obvious reasons but I will tell you a few things that can be assumed. With the number of shares me and my friends have now and at the pace we have been accumulating them, we could own them all in a few months or less. Of course there will be some restricted shares that exist which I can't buy in the open market but you can bet that I will try to buy those also if my final research comes back bullish. I will come back and report everytime I have accumulated another 20-50 million shares. I am sure you'll also have some idea of when I'll be doing that because of the market activity. I HOPE the shorts sell me and my friends what we want at these cheap prices. I'd hate to pay a few million extra to accumulate the same number of shares when I am in no hurry. I also will want to only pay long term cap gains taxes on this investment by holding at least a year and I can't wait to pull 90% of all my shares into cert, frame them and post a picture of it on here for the shorts to see. I have the utmost confidence in the company at this time. They made it clear to me that if they need any capital for the business whatsoever that I will be the one to write them a check for a straight up loan. They have no excuses to issue anymore shares and they know that. On this proposed retirement I hope it drops us way under 400 million shares, or even under 300 million. If they did that and we were still trading at .007 bid or so the market capitalization would only be about two million bucks. Are you kidding me? Someone just offered 8.5 million last week and we all know that it wasn't good enough.
That's all I have to say, god bless and watch some crazy **** happen by year end and for the next few years as everyone wishes they had bought shares under a nickel. People will say " those were the days". No hype here, I have loved what I have seen so far, I love the industry, the management is very coachable to winning and I know of dozens of investors that are willing to drop at least a million bucks here. Do the math and I'll see you at the top.
-------------------- The difference between genius and stupidity is that genius has its limits Posts: 10204 | From: NYC | Registered: Mar 2006
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Today’s Price Performance as of 10:01am EDT, 10/25/2006 Option Chains Margin Requirements Interactive Chart
Loading Chart1 Day | 5 Day | 6 Mo | 1 Yr | 3 Yr | 5 Yr $0.0095 Last Price 0.0015 +18.75% Today’s Change $0.0080 Today’s Open 4,043,956 Below Avg. Today’s Volume
-------------------- All I say is IMHO.
I like these calm little moments before the storm... Reminds me of Bethoven Posts: 3255 | From: Orlando, FL | Registered: Mar 2006
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posted
I got in this on the day of the buyout offer announcement at an average of like .0089.
After watching it since that announcement, and seeing the PR yesterday saying they declined the offer and are waiting for a higher PPS offer, I decided to sell this morning. I just got out at .009, but it looks lke I could have gotten more.
I just worry that when a company doesn't take an offer because they think they are worth more, they usually end up never getting to that point. I hope I am wrong and wish you all luck, but it's already up almost 1000% in under a month, and for them to say .02 is too low of an offer when they were recently trading at .001 seems fishy to me.
Good luck again, and remember to always protect your capital.
Posts: 5508 | From: Southeastern PA | Registered: Jan 2006
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Grand Entertainment & Music, Inc. Announces Letter of Intent to Purchase Independent Record Label Oct 25, 2006 1:15:00 PM
MONTREAL -- (MARKET WIRE) -- 10/25/06 -- Grand Entertainment & Music, Inc. (PINKSHEETS: GMSC) announces that it has signed a non-binding letter of intent (LOI) for the acquisition of an independent U.S. record label.
Grand Entertainment signed a letter of intent to purchase 50% of the label in a cash, non-share transaction. Both companies will be in a period of due diligence over the next 30 days, and hope to have the deal finalized before the holidays.
The acquisition of this record label will bring additional assets to Grand Entertainment. Over the last decade, this independent label has signed over a half dozen award-winning artists, and built a 500+ song catalogue. In addition, the label owns a fully operating studio with over one hundred thousand dollars of up-to-date studio equipment.
President Fred Berlin stated, "I am excited about this business move. I have always believed that acquisitions are a viable path to company growth. The addition of these new artists and vast song catalogues will be just another step in that direction, and I feel that both companies have a lot to gain from working together. More details will be forthcoming over the next few weeks."
About Grand Entertainment & Music, Inc.
Based in Montreal, PQ, and incorporated in November 1998, the Company is an independent music company 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. GEM, 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 will enable the company to fulfill its mission of becoming a leading consolidator of quality music catalogues as well as a premier production, recording, publishing and Internet distribution company in the music industry.
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 and Music, Inc. Investor Relations (866) 795-4366 IR*Gmsc-info.com www.gmsc-info.comPosts: 2473 | Registered: May 2006
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Today’s Price Performance as of 2:10pm EDT, 10/25/2006 Option Chains Margin Requirements Interactive Chart
Loading Chart1 Day | 5 Day | 6 Mo | 1 Yr | 3 Yr | 5 Yr $0.0090 Last Price 0.0010 +12.50% Today’s Change $0.0080 Today’s Open 20,459,138 Below Avg. Today’s Volume
-------------------- All I say is IMHO.
I like these calm little moments before the storm... Reminds me of Bethoven Posts: 3255 | From: Orlando, FL | Registered: Mar 2006
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posted
You know with these penny stocks you never know when they're going to fly through the roof. I'm holding on to my shares because I know that penny land is right around the corner.
Posts: 517 | From: jupiter, florida, usa | Registered: Apr 2004
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posted
The statement below is very important because, it tells me that they're are not willing to dilute the share structure in order to purchase or merge with another institution.
Grand Entertainment signed a letter of intent to purchase 50% of the label in a cash, non-share transaction. Both companies will be in a period of due diligence over the next 30 days, and hope to have the deal finalized before the holidays
Posts: 173 | From: west palm beach, fl | Registered: Oct 2006
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posted
Whoops, looks like I sold too early. Good luck to you guys.
quote:Originally posted by PCola77: I got in this on the day of the buyout offer announcement at an average of like .0089.
After watching it since that announcement, and seeing the PR yesterday saying they declined the offer and are waiting for a higher PPS offer, I decided to sell this morning. I just got out at .009, but it looks lke I could have gotten more.
I just worry that when a company doesn't take an offer because they think they are worth more, they usually end up never getting to that point. I hope I am wrong and wish you all luck, but it's already up almost 1000% in under a month, and for them to say .02 is too low of an offer when they were recently trading at .001 seems fishy to me.
Good luck again, and remember to always protect your capital.
Posts: 5508 | From: Southeastern PA | Registered: Jan 2006
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