GNNX news
(PR NEWSWIRE) Genesis Media Group, Inc. Completes Merger with Open Door Re
Genesis Media Group, Inc. Completes Merger with Open Door Records, Inc.
LOS ANGELES, July 28 /PRNewswire/ -- Genesis Media Group, Inc.,
(OTC Bulletin Board: GNNX) announced, effective today, that it has completed a
Stock Exchange Agreement with Open Door Records, Inc. whereby the Company
becomes a wholly owned subsidiary of Genesis. The Company is changing its
name to Open Door Online, Inc. and a new trading symbol will be forth coming.
In addition, a new Board of Directors has been elected, the audited financial
statements for 1998 were approved and new corporate officers have been
appointed.
Open Door Online is a multi-faceted Internet entertainment company
specializing in the sale and distribution of music and music related products.
This includes promoting its own artists and record label (Open Door Records),
a state of the art recording studio (Open Door Studios) and a multimedia
Internet web site (Open Door Music) that currently has access to approximately
250,000 CD's with over 500,000 sound samples all incorporated into a unique
search engine that helps customers to navigate its web site at
www.OpenDoorMusic.com. Later this year the Company plans to offer MP3 which
will provide secured digitally distributed music over the Internet and expects
this segment of its business to grow significantly. In addition, the Company
plans to open an Internet broadcasting facility (Open Door Productions) which
will offer a broad range of unique video and audio programming including live
and recorded concerts, live interactive interviews and classic concerts.
Incorporated into all of its activities, the Company plans to develop a series
of special web sites devoted to supplying wholesome entertainment for
children.
"Safe Harbor" Statement under the Private Securities Litigation Reform Act
of 1995: The statements contained in this release which are not historical
are forward-looking statements that are subject to risks and uncertainties
that could cause actual results to differ materially from those expressed in
the forward-looking statements, including, but not limited to, certain delays
beyond the company's control with respect to market acceptance of new
technologies and products, delays in testing and evaluation of products, and
other risks detailed from time to time in the Company's filings with the
Securities and Exchange Commission.
Please visit the company's Website at www.OpenDoorMusic.com.
For further information contact Investor Relations at (310) 665-0221
SOURCE Genesis Media Group, Inc.
-0- 07/28/99
/CONTACT: Genesis Media Group, Inc. Investor Relations, 310-665-0221/
/Web site: opendoormusic.com
(GNNX)
CO: Genesis Media Group, Inc.; Open Door Records, Inc.; Open Door Online,
Inc.
ST: California
IN: MLM ENT
SU: TNM
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