posted
Thursday, October 26 2006 9:45 AM, EST Grand Entertainment & Music, Inc. Announces Share Retirement Market Wire "US Press Releases " MONTREAL -- (MARKET WIRE) -- 10/26/06 -- Grand Entertainment & Music, Inc. (PINKSHEETS: GMSC) is pleased to announce that it has entered into several securities retirement agreements with company officers, directors, and consultants. Grand Entertainment is finalizing the agreements and instructions to the transfer agent this week. Barring any unforeseen events, these shares should be cancelled and returned back into treasury by the end of next week. These agreements will retire approximately 43,233,334 shares, and will reduce the total outstanding share count by more than 10%. The company is continuing to meet with other shareholders and trying to work out similar agreements in an effort to reduce the outstanding share count as much as possible. President, Fred Berlin, stated, "As we announced earlier this week, I met with several key players last weekend and discussed future corporate strategy for Grand Entertainment . We are all committed to increasing shareholder value, and the retirement of shares is one of the best ways to accomplish this goal." Berlin went on to say, "This reduction is a great start, but it is by no means the end of these actions. We were forced to issue more stock than we originally intended in our effort to ensure proper funding to grow our company. This was unfortunately necessary at the time; however, we are now making it up to our shareholder partners. We believe with our ongoing efforts we will be able to reduce the outstanding shares by a larger percentage in the upcoming weeks. As always, we will keep the investing public advised of these decisions." About Grand Entertainment & Music, Inc. Based in Montreal 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: 33 | From: VA | Registered: Oct 2006
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posted
BY the way, news out about retiring approximately 10% of shares. I think that's the cause of the volume coming through now.
Posts: 5508 | From: Southeastern PA | Registered: Jan 2006
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MONTREAL--(MARKET WIRE)--Oct 26, 2006 -- Grand Entertainment & Music, Inc. (Other OTC:GMSC.PK - News) announces that the company has resumed its monthly newsletter series.
Starting today, Grand Entertainment will be posting a monthly newsletter on the company website (www.gmsc-info.com). These newsletters will be written by President Fred Berlin in order to keep shareholders current on company developments and progress from his point of view. This month, readers can review events from the last two weeks including the Qbanito launch party and recent company proposals. Additional pictures from the launch party are also available in this month's newsletter.
ADVERTISEMENT "I am happy to get this newsletter up and going again," stated Fred Berlin, President. "I feel it is very important to keep the shareholders apprised of my perspectives and views. These monthly newsletters will give readers a little more insight to my opinions and forecasts for the future. The purpose behind these newsletters is to get as much information out to the shareholders as possible, and when we have a busy month, I will post additional newsletters as needed."
About Grand Entertainment & Music, Inc.
Based in Montreal 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.
Posts: 23 | Registered: Oct 2006
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Today’s Price Performance as of 2:56pm EDT, 10/26/2006 Option Chains Margin Requirements Interactive Chart
Loading Chart1 Day | 5 Day | 6 Mo | 1 Yr | 3 Yr | 5 Yr $0.0095 Last Price 0.0010 +11.76% Today’s Change $0.0090 Today’s Open 11,652,582 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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Well, we closed unchanged for the day and up 6.25% for the week. Obviously nobody is selling and by looking at the charts who can blame them. The chart looks like a rocket the only think it needs is a match to ignite to the sky.
Posts: 173 | From: west palm beach, fl | Registered: Oct 2006
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This week should be very interesting for Grand Entertainment. We might see the multi penny run and we may not. In pinkyland you never know what's going to happen.
Posts: 517 | From: jupiter, florida, usa | Registered: Apr 2004
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posted
Typical behavior. This will go back up. MMs will bring this down to pick up cheap shares. I'm still holding. Expect to see some good PRs coming up this week.
Posts: 1128 | From: Houston, TX | Registered: Feb 2006
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Grand Entertainment & Music, Inc. Offers Update on Acquisition Proposal Tuesday October 31, 7:00 am ET
MONTREAL--(MARKET WIRE)--Oct 31, 2006 -- Grand Entertainment & Music, Inc. (Other OTC:GMSC.PK - News) offers update on recently announced proposal to acquire an independent record label.
ADVERTISEMENT On October 25th, Grand Entertainment announced that it had signed a letter of intent to purchase 50% of an independent U.S. record label. Over the weekend, executives and consultants from both companies met to further discuss this acquisition. Grand Entertainment is pleased to announce that it has completed its due-diligence and has offered its verbal commitment. Attorneys from both companies are now working together to finalize all the necessary contracts.
Once completed, Grand Entertainment will own 50% of Lost City Records, a label based out of New York. The label has a long operating history and has over a half dozen signed and award winning artists. Completion of the deal will give Grand Entertainment access to the label's 500+ song catalogue, as well as their studio and equipment.
"This is a rare and exceptional opportunity to expand our company and our musical talent," stated president Fred Berlin. "I know this deal may seem rushed, but I have known the executives from Lost City for a long time and as I stated in our recent newsletter, I have kept in contact with them over the last twelve months." Berlin went on to say, "Both sides are committed to this deal and we hope to have everything wrapped up by the end of next week. I want to reiterate that this acquisition is a non-share, cash only transaction and will not dilute the shareholder equity in any way. I look forward to finalizing the deal, and I can't wait to start announcing Grand Entertainment and Lost City joint ventures in the near future."
Posts: 1128 | From: Houston, TX | Registered: Feb 2006
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Excellent News! I think Lost City Records deals with alot of underground Hip-Hop/Rap. Thats a great addition. Almost all rappers that are big now started off in the underground scene.
"I want to reiterate that this acquisition is a non-share, cash only transaction and will not dilute the shareholder equity in any way. I look forward to finalizing the deal, and I can't wait to start announcing Grand Entertainment and Lost City joint ventures in the near future."
posted
That's the reason they din't want to except the offer of .02 per share from who ever offer it. With this acquisition we might hit the 10 cent range. This is great news I don't think anybody is going to be selling anytime soon.
Posts: 517 | From: jupiter, florida, usa | Registered: Apr 2004
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posted
Thank God I bought more yesterday at the dip. The news today is totally owesome and Golf57 you're 100% correct on why they would not touch the offer of .02 This acquisition could bring us a very nice early Christmas present if you know what I mean.
Posts: 173 | From: west palm beach, fl | Registered: Oct 2006
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