Cinema Ride, Inc. Announces Trading on Pink Sheets.Business Editors STUDIO CITY, Calif.--(BUSINESS WIRE)--May 23, 2003 Cinema Ride, Inc. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :MOVE) disclosed today that its common shares will begin trading on the Over the Counter Pink Sheets, effective Tuesday, May 27, 2003. Quotes may be obtained at www.pinksheets.com under the ticker trading symbol Trading symbol See: Ticker symbol "MOVE." The Company has not filed with the Securities and Exchange Commission its Form 10-KSB for the year ended December 31, 2002, and its Form 10-QSB for the three months ended March 31, 2003. The Company intends to file the Form 10-KSB by May 30, 2003, and the Form 10-QSB within three weeks thereafter. Concurrent with the filing of the Form 10-QSB, the Company intends to immediately reapply Re`ap`ply´ v. t. & i. 1. To apply again. reapply vi → volver a presentarse, hacer or presentar una nueva solicitud for reinstatement to the OTC Bulletin Board OTC Bulletin Board An electronic quotation listing of the bid and asked prices of OTC stocks that do not meet the requirements to be listed on the NASDAQ stock-listing system. , which the Company believes will be accepted. The Company cited several reasons for being late with its filings. These reasons include new securities counsel, new auditors, significant new regulations, the new Tickets2Nite business, and the 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. against the Company's Tickets2Nite partner that was adjudicated on May 9, 2003. However, no ruling by the trial court has been issued to date. Tickets2Nite sells tickets to Las Vegas shows at half-price on the same day of the performance. Tickets2Nite commenced operations in early November 2002. The Company's ticket booth is located adjacent to the giant Coke bottle on the Las Vegas Strip The Las Vegas Strip (also known as The Strip) is a 4 mi (6.7 km) section of Las Vegas Boulevard South, most of which has been designated an All-American Road. , and is operated under the name "Coca-Cola Tickets2Nite." This concept of same day, half-price tickets is a successful, well-established institution in New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of City's Times Square. Based upon operating results to date, the Company believes that the Tickets2Nite business venture has the potential to contribute materially to the Company's future financial results. In addition to the Company's Tickets2Nite business, Cinema Ride, Inc. owns and operates motion simulation theater attractions at The Forum Shops at Caesars Palace in Las Vegas, Nevada, and at the West Edmonton Mall West Edmonton Mall (WEM), located in Edmonton, Alberta, Canada is the largest shopping mall in North America and the third largest in the world. in Edmonton, Alberta, Canada. Cautionary Statement Pursuant to Safe-Harbor Provisions of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995: This news release contains "forward-looking" statements, which are made pursuant to the safe-harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements include, among others, statements of expectations, beliefs, future plans and strategies, anticipated events or trends, and similar expressions concerning matters that are not historical facts. The forward-looking statements in this news release are subject to risks and uncertainties that could cause actual results to differ materially from those results expressed in or implied by the statements contained herein. The Company undertakes no obligations to revise or update any forward-looking statements contained herein in order to reflect events or circumstances that may arise after the date of this news release. |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion