PFCK sets Date of Record at 12/31/99 for dividend date of a potentially hot IPO Solutions Media.
Peacock Financial Sets Record Datefor SOLUTIONS
MEDIA/SpinRecords.Com Stock Dividend
November 16, 1999 12:02 PM
SAN JACINTO, Calif.--(BUSINESS WIRE)--Nov. 16, 1999--Peacock Financial Corp.
PFCK Tuesday announced that it has set the record date for a distribution of San
Diego-based SOLUTIONS MEDIA INC. dba SpinRecords.Com ("SMI") shares owned by
the company.
The official date of record is set for close of business Dec. 31, 1999. For roughly every
100 shares of Peacock Financial Corp. owned, Peacock shareholders will receive one
share of SOLUTIONS MEDIA/SpinRecords.Com, with the actual distribution date
subject to the approval of SOLUTIONS MEDIA/SpinRecords.Com.
This is the second distribution and dividend made by the company since becoming a
fully reporting business development company under the Investment Act of 1940. The
first such distribution, paid in July 1999, consisted of shares of San Diego Soccer
Development Corp. (SDSDC), owner of the FLASH, a professional soccer team
franchise. On Sept. 29, 1999, SDSDC filed its Form 10-SB with the Securities and
Exchange Commission.
As a policy, Peacock Financial intends to continue distributing shares to its
shareholders as its investments mature.
SMI is developing concepts such as SpinRadio(TM) and SpinTV(TM). In addition, the
company has interests in Kingdom Skateboards and the Emerging Artists & Talent in
Music (EAT'M) Conference. SMI recently has developed a strategic alliance with
Nettaxi.com NTXY , an e-commerce portal and Web Community.
Go2Net recently ranked Nettaxi.com in the top 10 of all Web sites, and under a
marketing agreement Nettaxi.com will be cross-promoting SpinRecords.Com's
products. SpinRecords.Com announced last month that it now offers streaming of
full-frame videos, interviews and live performances of its artists.
This near-television visual quality and near-CD audio quality product is made possible
by streaming data at 56k using Apple Computer Inc.'s AAPL QuickTime(R) format.
This past summer, SMI also created a strategic alliance with Software of the Month
Club (SOMC), in which SOMC will mail CDs including samples of selected
SpinRecords.Com recording artists to its 60,000 members.
Peacock Financial owns 800,000 shares of SOLUTIONS MEDIA, and roughly 40
percent of these shares will be distributed to Peacock Financial shareholders subject to
an approved distribution date. Additional details, including the payable date for this
distribution, remain pending.
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: The
statements contained herein that 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 or 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.
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