Rande
have you seen the news out on DMEC? what are your thought's on there 2nd quarter do you see a turn around ? They canceled the 1.9 million
stock conversion plus the $300,000.00 contract they just had signed with a major drug store chain, i know it does not mention which one. but this shows some positive for not diluting.
JIM FEN
e-DMEC Announced Today New Sales Orders Totaling $300,000.00 From a Major Drug Store Chain Customer
CERRITOS, Calif.--(BUSINESS WIRE)--Aug. 18, 1999--Diamond Entertainment Corporation, dba e-DMEC, Inc. (OTC BB:DMEC), in the business of distributing and selling videocassette titles, certain general merchandise and Internet marketing services, announced today sales orders totaling $300,000.00 for its video line of products from a major drug store chain customer.
"To augment our recent expansion on a national basis into the chain store arena, a major drug store chain has placed this significant order, consisting of children's cartoons," said James Lu, President/CEO of e-DMEC.
"This order, in additions to e-DMEC's everyday children's cartoons, included cartoons with Christmas oriented themes, which officially launches our holiday videocassette marketing program," added Mr. Lu.
e-DMEC also announced today, the cancellation of its arrangement to reduce its current liabilities with its two largest business creditors by converting the outstanding commitments totaling $1.9 million into one-year restricted Common Stock of Diamond Entertainment Corporation. After careful consideration and study of its current operations, e-DMEC management felt that this payable commitment could be satisfied through revenues generated by the Company thus preventing unnecessary stock dilution in the future.
Diamond is currently featuring its video line of products, including other fine products on its e-commerce site: e-dmec.com.
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.
CONTACT:
Marketex
Gary Swancey, 770/389-5645
marketex.net
KEYWORD: CALIFORNIA
BW0045 AUG 18,1999
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