I got their prospectus, and it looks good. Keep in mind, that the company's title is the future of music. As artists' contracts with record companies expire, they can sell their music directly from their own website and get 50% of the proceeds, not 15%.
Highlight of the prospectus are...
Their artists include Cher, Chris Isaak, Marilyn Manson, Tina Turner, ZZ Top and the Backstreet Boys. Plus lots more.
Universal, BMG, Sony, Time Warner & Cisneros own about 22% of the company.
Directors and executives own 53% of the company.
Mr. Geiger, the Chairman, and Mr. Muller, the President, are co-founders of the Lollapalooza Tour
A total of 5.5 million options have been granted to the artists and their entourage. This was the boo-boo they made in Securities laws at the IPO. Beginning 180 days after the IPO, the company could be required to pay up to $19.8 million in a "rescission offer".
They own 100% of Ultimate Band List. |
