Diamond Entertainment Announces its Aggressive DVD Roll Out Plan
Business/Entertainment Editors
CERRITOS, Calif.--(BUSINESS WIRE)--Jan. 26, 2000--Diamond
Entertainment Corp., dba e-DMEC, (OTC BB:DMEC) Wednesday announced
that it has developed for distribution another six DVD titles for a
total of 12 DVD titles to be launched into its chain store customers
starting in February 2000.
e-DMEC has been successful in its DVD sales promotion to major
chain stores and believes that the next wave of DVD product lines will
set the trend for the company to generate profits.
"The major chain stores are telling us that DVD requests are
growing rapidly and we are responding to this need," said James Lu,
Diamond Entertainment Corp. President and CEO.
e-DMEC further announced the move of its principal executive
offices and plant operations to its new facility. The move is
scheduled to be completed by the end of January 2000.
"As a result of drastically lower than expected sales levels
during calendar year 1999, we have decided to move to a smaller
facility to reduce our overhead expenses," Lu stated.
"With this move, we expect to reduce our expenses by over
$250,000 in the next twelve months which will contribute significantly
towards improving our cash flow requirements," added Lu.
Safe Harbor Act Disclaimer: This release may contain
forward-looking statements that involve risks and uncertainties,
including, without limitation, continued acceptance of the company's
products and services, increased levels of competition, new products
and technological changes, the company's dependence upon financing,
third-party suppliers and intellectual property rights, and other
risks detailed from time to time in the company's federal filings,
annual report, offering memorandum or prospectus.
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CONTACT: Diamond Entertainment Corp., Cerritos
Fred Odaka, 562/921-3999 |
