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WGL Entertainment Holdings, Inc. to Initiate Stock Repurchase Plan 11:30a ET May 15, 2008 (Market Wire) WGL Entertainment Holdings, Inc. (PINKSHEETS: WEHI) announced today that it will start buying its shares back in the open market beginning July 7, 2008. Up to $250,000 worth of WEHI will be purchased over the course of two months, retiring approximately one billion shares. Revenues from the national and regional airings of the MDSO as well as the online golf challenge will be used to support the buyback. In addition, WGL Entertainment Holdings, Inc. will retire all convertible debentures outstanding by August 1, 2008 totaling approximately $300,000.
"It is anticipated that WGL Entertainment Holdings, Inc. share value will rise to approximately 20 cents after the buyback is completed. With no convertible debt outstanding, stock dilution will stop completely and our shares can trade on pure market fundamentals," said Mike Pagnano, CEO WGL Entertainment Holdings, Inc. Mr. Pagnano went on to say that equity financing is being arranged for the production of MDSO II in the amount of $1.7 Million and will not be tied to the company stock. The investor group will become a minority partner in the revenue stream of the Online Golf Challenge and MDSO II. "We have a very solid plan in place to stabilize our price per share and reward our loyal shareholders who have stayed the course over the past four years."
WGL Entertainment Holdings, Inc., through its subsidiary WGL Entertainment, is the producer of the WGL Million Dollar Shootout Reality Television Series and several other made-for-T.V. sports entertainment events scheduled to be produced in 2008 and beyond.
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LMAO, gotta love a PR saying that they anticipate a 100,000% increase in share price...
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WGL Entertainment Holdings, Inc. Is Approved to Raise up to Six Million Dollars via Rule 3(a)(10)
LAKE MARY, FL, Aug 04, 2008 (MARKET WIRE via COMTEX) -- WGL Entertainment Holdings, Inc. (PINKSHEETS: WEHI) announced today that it has been approved to raise up to $6,000,000 pursuant to Section 3(a)(10) of the Securities Act and Section 517.061 of the Florida Securities Act (collectively, the "Exemption Status"). The ruling was granted by the Circuit Court of the Eighteenth Judicial Circuit in and for Seminole County, Florida. The funds will be raised through private investment and be used to acquire profitable firms in the Medical and Entertainment industry.
"This is a significant milestone for WGL Entertainment Holdings, Inc. The influx of capital will substantially strengthen our balance sheet as well as bring substantial value to our shareholders," said Mike Pagnano, CEO, WGL Entertainment Holdings, Inc. "Upon completion of the capital raise, we intend to retire 95% of all outstanding common shares and acquire at least three separate profitable entities. The raise will commence immediately following our merger with Stemtronics Inc."
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Aug 28, 2008 07:00 ET WGL Entertainment Holdings, Inc. Agrees to Dividend Deal
WGL
LAKE MARY, FL--(Marketwire - August 28, 2008) - WGL Entertainment Holdings, Inc. (PINKSHEETS: WEHI) announced today that it has agreed in principal to distribute 15,000,000 shares of a publicly traded media company to its shareholders. The shares represent approximately $100,000 at its current value. The media company whom we will identify upon closing will air the WGL Million Dollar Shootout (MDSO) reality television series through its International outlets and represent the MDSO in the U.S. market for a national network airing. At closing, which is expected by the end of next week, a record date will be set for the distribution of the shares.
"This new partnership will bring many synergies to both companies not only in the media environment, but in the pursuit of further mergers and acquisitions. The dividend being paid represents 13.3% of WGL Entertainment Holdings, Inc.'s current market capitalization," said Mike Pagnano, CEO, WGL Entertainment Holdings, Inc. "We continue to work very hard to bring value to our shareholders and appreciation of our PPS. This significant agreement is a Win-Win for all involved."
WGL Entertainment Holdings, Inc., through its subsidiary WGL Entertainment, is the producer of the WGL Million Dollar Shootout Reality Television Series and several other made-for-T.V. sports entertainment events scheduled to be produced in 2008 and beyond.
To the extent that statements in this press release are not strictly historical, including statements as to revenue projections, business strategy, outlook, objectives, future milestones, plans, intentions, goals, future financial conditions, future collaboration agreements, the success of the Company's development, events conditioned on stockholder or other approval, or otherwise as to future events, such statements are forward-looking, and are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. The forward-looking statements contained in this release are subject to certain risks and uncertainties that could cause actual results to differ materially from the statements made. For more information contact: Michael Pagnano WGL Entertainment Holdings, Inc. 1-407-833-7931
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