Re-Posted by (H2SteveO) aka Steve Oshinsky, CEO Tremor Entertainment to include disclaimer
tremor.net
OTCBB: NEWY
(pending merger closing)
Shares Issued: 16,886,000 approx.
Restricted: 15,813,000
Float: 1,073,000
Current Price: 1.35 x 1.40 (as of Tue. Aug. 28, 2001)
Tremor Entertainment, Inc., is a leading video game software developer for the digital interactive entertainment industry. Tremor is currently focussed on becoming a leading Xbox developer and will deliver its first Xbox game into the summer 2002 release season.
Founded in 1998, Tremor has developed and produced software for the most popular video game consoles, including Swirl®, Railroad Tycoon II, and KISS: Psycho Circus for the Sega Dreamcast, Railroad Tycoon II for the Sony PlayStation.
Tremor’s core creative team created the 1998 blockbuster StarCraft, the industrys best-selling game of 1998, which has sold over 3 million units.
The Company is currently under a multi-year, multi-million dollar contract with Microsoft to create a brand new original title for the Xbox. Microsoft has publicly announced advertising and marketing budgets of $500,000,000 in the next 18 months to promote the Xbox, and will devote substantial sums towards their own original products.
Tremor and Microsoft have also secured initial agreements for a series of comic books, a novel, and a major feature film based on Tremor's game. Tremor has also attracted a veteran Hollywood movie producer to produce the film. Details will be announced when possible, but these same people were also involved with the summer blockbuster Tomb Raider, as well as several other major box office successes.
Tremor will receive a percentage of Microsoft's net revenues from these products in addition to receiving substantial royalties on all game sales. These royalties and ancillary revenues have not been factored into Tremor's revenue projections.
Industry analysts have declared the interactive entertainment industry to have entered a new 5 year cycle, citing the strength in publisher stocks THQI, TTWO, ERTS, MSFT.
The interactive entertainment industry now equals the movie industry in revenues, producing an astonishing $7.8 billion compared to $7.8 billion in movie ticket sales.
Revenues:
Y2000 Ended Mar. 31 2000 Rev. $ 502,205
Y2001 Ended Mar. 31 2001 Rev. $1,341,839
Projected:
Y2002 Ending Mar. 31 2002 Rev. $2,925,000 est.
Tremor has incurred net losses of approximately $3.6 million and $2.8 million for its last two fiscal years, and expects to incur additional operating losses over the next 18 months.
MANAGEMENT:
Steven Oshinsky Chief Executive Officer
Roderick B. Barr President, Games Divison
Brennan Kelly Chief Technical Officer
Karen Benson Vice President, F&A
For more information contact:
Steven Oshinsky, CEO
818/729-0020, ext. 60
Email: CEO@Tremor.net
Website: tremor.net
This press release contains forward-looking statements within the meaning of The Private Securities Litigation Reform Act of 1995 (the "Act"). In particular, when used in the preceding discussion, the words "plans," "proven," "believe, "profitably," "expanding," "partner with," "expect," or "intend to," and similar conditional expressions are intended to identify forward-looking statements within the meaning of the Act and are subject to the safe harbor created by the Act. Such statements are subject to certain risks and uncertainties and actual results could differ materially from those expressed in any of the forward-looking statements. Such risks and uncertainties include, but are not limited to, market conditions, the availability of capital and the successful production of the Company's products, general acceptance of the Company's products and technologies, competitive factors, timing, and other risks described in the Company's SEC reports and filings. |
