ELine Music Makes Offer to Purchase WEBPayPerView and the WEB Theatre.Business Editors NASHVILLE, Tenn.--(BUSINESS WIRE) April 2, 2001-ELine Music.com, Inc. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :ELNM) today announced that it has made an offer to the Board of Directors of WEBPayPerView.com and The WEB Theatre to purchase all of its assets. "We believe that based on our preliminary discussions with ELine Music's executives and our knowledge of ELine Music's business plan, industry experience and management team, they can certainly bring strength to both WEBPayPerView.com, The WEB Theatre and their shareholders," said Derreck Manteau man·teau n. pl. man·teaus or man·teaux A loose cloak or mantle. [French, from Old French mantel; see mantle.] , 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 WEBPayPerView and Director of The WEB Theatre. "In addition, I believe that ELine Music and its shareholders can greatly benefit from our video technology and streaming media See streaming audio, streaming video and digital media hub. expertise". "Since our public announcement on March 8th about our joint venture involving WEBPayPerView and The WEB Theatre we have been excited to work with both company's and realize the potential revenue opportunities that can be derived from WEBPayPerView and The WEB Theatre and the benefits our independent artists would gain from their services and industry expertise," said John Brancaccio, President of ELine Music. Brancaccio continues, "The amount of revenue that we can add to by acquiring WEBPayPerView and The WEB Theatre, in addition to building brand awareness, network infrastructure and strengthening our distribution channels is significant to ELine. "We anxiously await the acquisition of these two companies." The amount offered to acquire both companies, as well as the terms and conditions of the deal have not yet been disclosed. However, Brancaccio added, "We have a firm commitment pending ELline's due diligence Research; analysis; your homework. This term has caught on in all industries, because it sounds so "wired." Who would want to do analysis or research when they can do due diligence. See wired. of these companies. When this deal comes to fruition, ELine Music will gain the assets and potential revenues that would increase shareholder value." About ELine Music.com, Inc. ELine Music.com is an entertainment company that maintains an Internet presence designed to fit the needs of independent artists and labels. Including CD, DVD DVD: see digital versatile disc. DVD in full digital video disc or digital versatile disc Type of optical disc. The DVD represents the second generation of compact-disc (CD) technology. and video distribution and promoting live concerts. The Web site network is an outlet for artists and companies seeking to sell their music, both domestically and internationally, through the Internet. ELine Music.com "Is not just a dot .com company." With a triple-platinum production team led by the CEO Sonny Paradise, they maintain a full-service recording studio in Nashville, Tenn. that provides all production and musical needs of artists. About WEBPayPerView.com WebPayPerView.com (http://www.wppv.com) is a distributor and producer of video content over the Internet. WPPV.com has developed a proprietary 24-hour ticketing system that allows viewers to truly watch what they want, when they want. Unlike television pay-per-view, where viewers must wait to watch their program, WPPV's 24-hour "CyberTicket" system allows customers to watch their selection immediately in multiple bit rates "Internet speeds"-28.8k, 56k, 100k, 300k and Broadband. WEBPayPerView distributed third party video content as well as producing exclusive programming. About The WEB Theatre The WEB Theatre is a freestanding free·stand·ing adj. Standing or operating independently of anything else: a freestanding bell tower; a freestanding maternity clinic. , 2000+ seat, theatre located in the heart of Phoenix, Arizona's downtown growth area. The WEB Theatre offers cutting edge digital video, sound, and lighting technology, and promotes events while simultaneously capturing exclusive video content for sale via Internet television Internet television (or Internet TV) is television distributed via the Internet. Overview In the past, television was only distributed by cable, satellite, or terrestrial systems. distributors. Forward Looking Statement Forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. in this release are based on current expectations, which may differ materially from actual results. Forward-looking statements include, without limitation, those regarding management's plans, objectives and strategy for future operations, product plans and performance, management's assessment of market factors, and future financial performance and fall within the safe harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. 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. Among factors that could cause actual results to differ materially are changes in business conditions, changes in the telecommunications and Internet industry and the general economy; competition; changes in service offerings; risks associated with ELine Music.com's limited operating history; entry into developing markets and new product lines, and managing rapid growth; and risks associated with international operations Internal Operations (I.O., IO or I/O) is a fictional American Intelligence Agency in Wildstorm comics. It was originally called International Operations. I.O. first appeared in WildC.A.T.S. volume 1 #1 (August, 1992) and was created by Brandon Choi and Jim Lee. , dependence on effective information systems, and development of the ELine network. "Safe-harbor" statement: Certain statements in this news release are intended to be "forward-looking" statements as defined in the Private Securities Litigation Reform Act of 1995. Such statements are subject to numerous risks and uncertainties. Actual results may vary significantly from the results expressed or implied in such statements. Factors that could cause actual results to differ materially from forward-looking statements include, but are not limited to, risks of technology or product obsolescence ob·so·les·cent adj. 1. Being in the process of passing out of use or usefulness; becoming obsolete. 2. Biology Gradually disappearing; imperfectly or only slightly developed. , competitive risks, reliance on development partners and the need for additional capital. |
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