Avenue Entertainment Group Expands Business and Agrees to Merge With SolutionsAmerica.Business & Entertainment Editors LOS ANGELES--(BUSINESS WIRE)--July 6, 2000 Avenue Entertainment Group, Inc. (AMEX AMEX See: American Stock Exchange :PIX) a multidimensional entertainment company has adopted a new business plan and has signed a Letter of Intent to merge with SolutionsAmerica, Inc, a value chain syndicator and marketer of digital business processes with a focus on facilitating b2b contracting and transactions for the entertainment industry, it was announced today by Cary Brokaw, President and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Avenue Entertainment Group, and Floyd W. Kephart, Chairman and CEO of SolutionsAmerica, Inc. In the merger, SolutionsAmerica's outstanding Common Stock will be converted into the right to receive a majority of the shares of Avenue Common Stock. Cary Brokaw stated "Last year we told our shareholders that we planned to strategically diversify our business into a related Internet area and expand our sources of revenue to offset the cyclical nature of revenues inherent to the film business. We believe we have found the right merger partner in SolutionsAmerica. They bring to Avenue a proven management team and a compelling e-commerce strategy. The SolutionsAmerica business model creates an exciting future for Avenue and it's shareholders. Expanding our base business, eliminating certain non-core operations and creating additional sources of revenues is necessary if we are to provide increased value to our shareholders. For the past several months we have actively explored each of our potential opportunities and business segments. As we implement our new business plan, we will provide our shareholders with new operations, enhanced management and new market opportunities. The Solutions merger is but the first step in our effort." "We are excited about combining the operations of Avenue and SolutionsAmerica. The entertainment industry is historically among the earliest adopters of new technologies to enhance business operations Business operations are those activities involved in the running of a business for the purpose of producing value for the stakeholders. Compare business processes. The outcome of business operations is the harvesting of value from assets . Our digital business processing technology will enable content providers, distributors, exhibitors, and other entertainment commerce vendors utilizing any media (video, audio, text, graphics) to conduct their entire business operations and contracting digitally over the Internet. Cary has an established reputation for producing entertainment properties of the highest quality. We wish to work with him to expand that same high quality commitment to e-commerce opportunities within the entertainment industry and other major industries", stated Floyd W. Kephart. Avenue Entertainment Group, a multifaceted entertainment company focused on the production of high-quality film and television content, is comprised of four complementary units: Avenue Pictures (motion picture production); Avenue Pictures Television (television movie, cable movie and series television production); Wombat Productions (documentary and profile productions); and Avenue New Media (content creation and e-commerce). Through its Avenue Pictures division, Avenue Entertainment Group has produced the Academy Award(R) winning Restoration as well as Robert Altman's Short Cuts and The Player, the later being nominated for five Academy Awards(R), including Best Picture. Brokaw and Avenue have also produced such features as Finding Graceland, Drugstore Cowboy drugstore cowboy n. 1. A loafer who passes time on sidewalks or at drugstores. 2. One who dresses or acts like a cowboy but has never been one. , After Dark My Sweet, The Object Of My Beauty, American Heart, Pascali's Island and the upcoming Wayward Son, starring Harry Connick Harry Connick is the name of:
Any of a series of annual prizes awarded by Columbia University for outstanding public service and achievement in American journalism, letters, and music. Fellowships are also awarded. winning play, Wit, for HBO Hyperbaric oxygen therapy (HBO) A form of oxygen therapy in which the patient breathes oxygen in a pressurized chamber. Mentioned in: Ozone Therapy starring Emma Thompson Emma Thompson (born 15 April 1959) is an Emmy-, BAFTA- and Academy Award-winning English actress, comedian, and screenwriter. She is also a patron of the Refugee Council. Biography Early life Thompson was born in Paddington, London, England. and directed by Mike Nichols. In February, Avenue entered into a three-year non-exclusive co-financing agreement with Intermedia Intermedia - A hypertext system developed by a research group at IRIS (Brown University). Films. Intermedia will fund development expenses, co-finance production costs and internationally license all pictures undertaken by the two companies. Intermedia completed a successful initial public offering on the Germany's Neuer Market in May, and has a current valuation of approximately $1 Billion. Intermedia has financed and distributed numerous films including Sliding Doors, Hilary and Jackie, Sweet and Lowdown low·down n. Slang The whole truth: gave us the lowdown on what happened at the party. lowdown low (inf) n he gave me the lowdown on it → , and upcoming films The Wedding Planner starring Jennifer Lopez and Mathew McConaughey, as well as Enigma starring Kate Winslet <noinclude></noinclude> Kate Elizabeth Winslet (born October 5, 1975) is a five-time Academy Award-nominated, Emmy Award-nominated, BAFTA, Grammy and Screen Actors Guild Award-winning English actress. . About SolutionsAmerica Inc. SolutionsAmerica is an e-commerce value chain syndicator and digital business processor. SolutionsAmerica offers technological and operating solutions to e-commerce challenges including but not limited to web enabling the digital business process. Solutions provides database development, integration, payment processing, an accounts receivable accounts receivable n. the amounts of money due or owed to a business or professional by customers or clients. Generally, accounts receivable refers to the total amount due and is considered in calculating the value of a business or the business' problems in paying and inventory financing Inventory financing Used in the context of factoring and general finance to refer to loans to consumer product producers that use inventory as collateral. See also: Inventory loan. platform, archiving and web design. The company also provides financial and marketing services. SolutionsAmerica intends to focus on the Entertainment, Healthcare, Collectibles, Utilities, Political, Charitable, Export and Import marketplaces. SolutionsAmerica provides its clients with an extensive portfolio of services through its operating entities, Sentinel Software (systems development) and Pointyheads Intermedia (design) and in alliance with its strategic partners. SolutionsAmerica currently has alliance agreements with Leader Finance and Trade, Inc., Nexxus Financial Services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. , Ltd., The Compliance Company, Ltd., and Card Systems International, Inc. Information in this press release, including any information incorporated by reference herein, includes "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Act of 1934, as amended, and is subject to the safe-harbor created by such sections. The company's actual results may differ significantly from the results discussed in such forward-looking statements. |
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