Fahrenheit Entertainment Inc. Launches Distribution Services Through Electric Kingdom Distribution; Signs Sunbird Records.Entertainment Editors DENVER--(ENTERTAINMENT WIRE)--Dec. 14, 2001 Fahrenheit Entertainment, Inc. (OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). : FHOT) has completed the second phase of its transition from a music production company to a full-service distribution company for independent record labels. In setting the course for 2002, the company is in the process of signing several mid-sized record labels for distribution. While deleting a number of smaller labels currently with Electric Kingdom, Fahrenheit will make room for more aggressive labels which produce music in Country, Pop and Jazz. The shift is anticipated to establish gross sales Gross Sales A measure of overall sales that isn't adjusted for customer discounts or returns, calculated simply by adding all sales invoices, and not including operating expenses, cost of goods sold, payment of taxes, or any other charge. of over $4.5 million in the next 12 months, with six of twenty-five signed record label clients representing 60% of the projections. During the past several months, Fahrenheit has been restructuring its debt, financing and operational infrustructure to make room for a service-oriented business plan. The company will continue to capitalize its own productions under its proprietary labels, but will invest more in the distribution services for its client labels. As well, it will incorporate its internet assets, CountryRadio.com and MPEG (Moving Pictures Experts Group) An ISO/ITU standard for compressing digital video. Pronounced "em-peg," it is the universal standard for digital terrestrial, cable and satellite TV, DVDs and digital video recorders (DVRs). 3.com, as part of the program. Peter Trimarco, President of Fahrenheit Entertainment, stated: "Now more than ever, there is a need for strong independent distributors, given the number of quality record labels which have lost distribution this past year. It is our hope that what we have learned as a record label will allow us an intelligent approach to the business of music distribution." The first new signing for Fahrenheit/Electric Kingdom Distribution is Sunbird sunbird, common name for tropical, Old World birds, including more than one hundred species in the family Nectariniidae. Like the unrelated New World hummingbirds, to which sunbirds are often compared, sunbirds have long and slender, highly curved bills, tube-shaped Records (Nashville), which released the debut album "Once in a Lifetime" from Len Doolin (produced by Nelson Larkin). The album, which features "There Ain't No Yellow in the Red, White and Blue," is enhanced with Sunncomm's CD3 Expanded Experience Technology, which delivers video clips A short video presentation. and a photo gallery. New label signings and the complete business plan will be posted in January 2002. This news release contains 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. 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 regulations, and other risks defined in this document. These cautionary statements expressly qualify all such forward-looking statements made by or on behalf of the Company. In addition, the Company disclaims any obligations to update any forward-looking statements to reflect events or circumstances after the date hereof here·of adv. Of this. hereof Adverb Formal or law of or concerning this Adv. 1. hereof - of or concerning this; "the twigs hereof are physic" . |
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