(BSNS WIRE) Planet Entertainment Announces Full Reporting Status
Planet Entertainment Announces Full Reporting Status
Business Editors
MIDDLETOWN, N.J.--(BUSINESS WIRE)--June 8, 1999--Planet
Entertainment Corp. (OTCBB: PNEC) announced today through Chairman,
Wallace Giakas, that the Company's Registration Statements on Form
SB-2 and Form 10 are now effective and the Company is fully reporting
under the Securities Exchange Act of 1934, as amended.
Chairman Giakas said, "We are pleased to have our Form 10
approved by the S.E.C., following the usual intensive review process
by that agency. This status now makes Planet Entertainment a fully
reporting company. This is a necessary prelude to Planet
Entertainment's intention to become listed on NASDAQ, which we hope
will occur in the near future. We believe these steps reflect the
continuing maturation of Planet Entertainment as a publicly-owned
company which has grown to an estimated $40 million in revenues and to
over $25 million in assets since its formation only three years ago."
Planet Entertainment is a diversified entertainment company
specializing in music production, wholesale distribution and marketing
of front-line recorded music, video and DVD titles as well as its
proprietary CD compilation albums. The Company, which operates a
wholesale distribution facility, two wholly owned recording studios
and four record labels is also engaged in the acquisition,
enhancement, licensing and re-release of music from their extensive
library of over 15,000 musical master recordings as well as the
production of new artist albums. |
