Cornerstone Entertainment, Inc., Announces New Syndication and Production Agreement with Ridge Partners Financial Group, Ltd.Business & Entertainment Editors PHOENIX--(BUSINESS WIRE)--Sept. 5, 2001 Cornerstone Entertainment, Inc., announced a new syndication and production agreement with Ridge Partners Financial Group Ltd., and its Professor Hooper, Inc. affiliate. The agreement, signed today, is for production and syndication rights to the children's television series Children's television series are television programs designed for and marketed to children, normally aired during the morning and afternoon hours, mainly before and after school. , "Professor Hooper," that combines live action, Muppet-style puppets and animation. This weekly show is derived from a successful children's book series consisting of 23 titles, including the popular "Jake the Snake The nickname Jake the Snake may refer to:
CD-ROM in full compact disc read-only memory Type of computer storage medium that is read optically (e.g., by a laser). "Jake the Snake" game, toys, plush dolls of various characters, board games, night lights, sheets, linens, wall-coverings, bedspreads and more. "This contract guarantees a minimum of $10,000 per month syndication fee, along with a 35% net profits commission fee structure from syndication deals from both foreign and domestic broadcast licensing. Cornerstone Entertainment could potentially see profits of up to $1.7 million at the end of the first broadcast year," stated James Rosin, President, Cornerstone Entertainment Inc. "The broadcast placement potential for children's programming is wide open for shows of this caliber, due to the expanding markets in both the domestic and foreign markets," said Tom Keegan, Sr. Corporate Vice President, Cornerstone Entertainment. Also, Cornerstone Entertainment is pleased to announce that they prepared a private placement memorandum private placement memorandum The documentation that provides information on a new security issue. It is similar to but less extensive than a prospectus. to raise $1M in a private offering. "It is our goal to become a publicly traded company publicly traded company A company whose shares of common stock are held by the public and are available for purchase by investors. The shares of publicly traded firms are bought and sold on the organized exchanges or in the over-the-counter market. and increase shareholder value. We are very excited about the future of Cornerstone and look forward to expanding our market," said James Rosin, President. This news release contains forward-looking statements as defined by 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. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events or performance and underlying assumptions, and all statements that are other than statements of historical facts. These statements are subject to uncertainties and risks including, but not limited to, product and service demand and acceptance, changes in technology, economic conditions, the impact of competition and pricing, government regulation, and other risks defined in this document. These cautionary statements expressly qualify all such forward-looking statements made by or on behalf of Cornerstone Entertainment, Inc. In addition, Cornerstone Entertainment, Inc., disclaims any obligation to update any forward-looking statements to reflect events or circumstances after the date hereof. |
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