Financing Details Released by Entertainment Technologies & Programs Inc.HOUSTON--(BUSINESS WIRE)--April 27, 1998--Entertainment Technologies & Programs Inc. (OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). Symbol:ETPI ETPI Eastern Telecommunications Philippines Inc. ) has released specific details on the equity financing Equity Financing The act of raising money for company activities by selling common or preferred stock to individual or institutional investors. In return for the money paid, shareholders receive ownership interests in the corporation. package announced April 21, 1998. A private investment group based in San Antonio, Texas “San Antonio” redirects here. For other uses, see San Antonio (disambiguation). San Antonio is the second most populous city in Texas, the third most populous metropolitan area in Texas, and is the seventh most populous city in the United States. As of the 2006 U.S. will supply investment capital which will be used by the Company to significantly enhance their ongoing aggressive expansion program. The Company plans to dramatically enhance revenues and profits by opening four new family entertainment amusement centers in the coming months. Video game and related family entertainment amusement centers represent an exciting growth sector that can generate very impressive gross profit margins Gross profit margin Gross profit divided by sales, which is equal to each sales dollar left over after paying for the cost of goods sold. gross profit margin A measure calculated by dividing gross profit by net sales. sometimes as high as 85 percent. The initial equity investment of $350,000 has been received by the Company. This influx of capital will enable them to open at least two new family entertainment centers. Additional investment capital will be supplied in 60 day increments. The amounts to be provided will be based on the growth and needs of the Company and opening of additional centers. The initial investment will be paid for with stock presently owned by principal shareholders. Therefore, no dilution of the public float will occur from this initial influx of capital. One half of the corporate stock which will be exchanged for financing is currently owned by principal shareholders. So there will be no increase in the current number of outstanding shares. The remaining half of the corporate stock to be issued for the financing will be restricted securities subject to SEC Rule 144 and not available for sale. The value of the stock to be supplied for the financing will be based on the average share price taken over a 20 day time period. The Company feels they have obtained funding that will contribute to a significant enhancement of share values while causing minimal dilution and fueling the anticipated growth. Entertainment Technologies & Programs Inc. is a fully-integrated entertainment and amusement company. They have established a solid business base and stellar reputation supplying a wide variety of entertainment services to U.S. military bases around the world, and they have an AFNAF AFNAF Air Force Non-Appropriated Funds (USAF) (Air Force Non-Appropriated Funds) contract. They are now aggressively expanding their entertainment expertise into private endeavors. Their corporate growth strategy is aimed at the acquisition of selected restaurants, family entertainment centers and other operational private sector establishments with significant profit potential. Except for historical matters contained herein, the matters discussed in this press release are forward-looking statements and are made pursuant to 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. CONTACT: Entertainment Technologies & Programs Inc., Houston Pete Cahill, 281/486-6061 |
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