Centiv, Inc./Brentwood Media Group Deal Fails to Conclude.Business Editors PALOS VERDES ESTATES Palos Verdes Estates (păl`əs vûr`dēz), city (1990 pop. 13,512), Los Angeles co., S Calif.; inc. 1939. It is a residential community. , Calif.--(BUSINESS WIRE)--May 19, 2004 Centiv, Inc. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :CNTV CNTV Comisión Nacional de Televisión (Spanish, Colombia) ) announced that it and Jeffrey S. Hall, 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 Brentwood Media Group, have terminated several months of negotiations. At present, Centiv, Inc. and Mr. Hall have cancelled all agreements and withdrawn from further negotiations. On Feb. 19, 2004, Centiv, Inc. announced a letter of intent to acquire Brentwood Media Group and an employment agreement with Mr. Hall to serve as the company's President and sit on its Board of Directors. Mr. Hall refrained from serving as President or accepting a board seat during the negotiations. "I'm not sure why, but we never quite got to the finish line," said Hall. In other news, Centiv, Inc. notified the Securities and Exchange Commission on May 18, 2004 that its Report on Form 10-Q Form 10-Q See 10-Q. for the quarter ended March 31, 2004 would be delayed as it awaits information from outside third parties to complete the Form 10-Q. Moreover, results of operations from the quarter ended March 31, 2004 and March 31, 2003 will be difficult to compare because of the acquisition of Beijing Multimedia Limited announced by press release on Jan. 29, 2004, and reported to the Securities and Exchange Commission in the Current Report on Form 8-K Form 8-K The form required by the SEC when a publicly held company incurs any event that might affect its financial situation or the share value of its stock. Form 8-K See 8-K. filed Feb. 6, 2004. Forward looking Statements in this document that are not historical fact are "forward-looking statements" as that term is defined in the Private Securities Litigation An action brought in court to enforce a particular right. The act or process of bringing a lawsuit in and of itself; a judicial contest; any dispute. When a person begins a civil lawsuit, the person enters into a process called litigation. Reform of 1993. Forward-looking statements are not guarantees of future performance. Our forward-looking statements are based on trends that we anticipate in our industry and our good faith estimate of the effect on these trends of such factors as industry capacity, product demand, and product pricing. These statements are also subject to risks and uncertainties beyond our reasonable control that could cause our actual business and results of operations to differ materially from those reflected in our forward-looking statements. These risks are described in the Company's Form 10-K and/or Form 10-Q. www.centiv.com |
|
|||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion