Q Television Obtains Intermediate and Permanent Financing 7/28/2004 12:00:00 PM
PALM SPRINGS, Calif., Jul 28, 2004 (BUSINESS WIRE) -- Q Television Network (OTCPK: QBID) today announced that it has obtained intermediate financing in the form of a loan of $1,000,000 and equity placement of $1,000,000 through a major private investment fund. Additional financing necessary to complete Q Television Networks long term goals over the next year have been negotiated and the legal documents for these transactions are being prepared. Frank Olsen President and CEO of the Network stated, "These arrangements will make it possible for the continuing success of the Network by being able to secure first rate programming for the Network and provide the necessary working capital requirements while the company pursues licensing with additional carriers."
For more information on carriage, contact Q Television at (760) 322-4455. For advertising sales, contact Scott Seger at 212-300-7569
About Q Television Network
This television network was organized to create and develop a network devoted to providing television programming for the gay and lesbian community. While the company expects much of its subscriber base to be comprised of members of the gay and lesbian population, management also believes that quality programming about the gay and lesbian experience, designed to entertain, educate and inform, will attract many other segments of the viewing public. The company's programming will be available on a subscription basis to those desiring its programming. The network will broadcast 24 hours per day, 7 days per week. Providing distribution via satellite ensures availability of the network across the United States, including Alaska, Hawaii and Puerto Rico.
Safe Harbor Statement
As a cautionary note to investors, certain matters discussed in this press release may be forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such matters involve risks and uncertainties that may cause actual results to differ materially, including the following: changes in economic conditions; general competitive factors; the television network's ability to execute its business model and strategic plans; and the risks described from time to time in the company's Securities and Exchange Commission filings.
For more information regarding carriage and advertising opportunities, contact the network at 760-323-4455.
SOURCE: Q Television Network
Q Television Network, 760-323-4455
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