PR 5/10/2000: Pink sheets coming but .... we'll see. I'm still hanging long.
(PR NEWSWIRE) Miracle Entertainment Provides Additional Update Regarding the
Miracle Entertainment Provides Additional Update Regarding the Additional 'E'
LOS ANGELES, May 10 /PRNewswire/ -- 1st Miracle Group, Inc.
(OTC Bulletin Board: MVEEE), a diversified film and production company today
announced that it is continuing its efforts to resolve the SEC comments
regarding its latest 8-K filing of April 7, 2000.
The Company has until May 11th to have the outstanding comments resolved
or it would be moved to the Pink Sheets. Commenting on this issue, Tony
Cataldo, CEO of Miracle Entertainment, "We have diligently worked with the SEC
to resolve their outstanding comments. While we believe that these issues
will be cleared, there is no definite date. Once we clear the comment period
of the SEC we are going to immediately prepare to make an application for a
listing on an US Exchange other than the OTC Bulletin Board."
Mr. Cataldo further stated, "The Company outside of its per share price
meets the listing requirements for Nasdaq. We have $12 million in available
capital, a $10 million credit line, $150 million of off balance sheet
financing and several completed films that are going to be distributed in
either late summer or early fall along with several other production deals.
There will be no tangible effect on our operations, nor should there be. We
are moving this Company forward and preparing for its future on a main
exchange."
This statement includes forward-looking information as that term is
defined in the Private Securities Litigation Reform Act of 1995, and,
therefore, is subject to certain risks and uncertainties. There can be no
assurance that the actual results, business conditions, business developments,
losses and contingencies and local and foreign factors will not differ
materially from those suggested in the forward looking statements as a result
of various factors, including market conditions, competition, advances in
technology and other factors.
SOURCE 1st Miracle Group, Inc.
-0- 05/10/2000
/CONTACT: Stuart Fine of Rubenstein Investor Relations, Sfine@rir1.com,
for 1st Miracle Group, Inc./
(MVEEE) |
