Looks like great news - with real money, will this stop the dilution. As you have posted, can you imagine how fast this could go up if they really do the buyback and begin to lose the history?
Vision Works Media Group, Inc. and New Screen TV Announce Video On Demand Contract and Join Billion Dollar Pay-Per-View Industry
Jan 10, 2006 8:45:00 AM
Copyright Business Wire 2006
ORLANDO, Fla.--(BUSINESS WIRE)--Jan. 10, 2006--
Vision Works Media Group, Inc. (Pink Sheets:VWKM) and wholly owned subsidiary New Screen TV, Inc. announce the signing of a Video On Demand (VOD) contract.
The Video On Demand contract is expected to provide New Screen TV with as much as $800,000 in monthly revenue based on existing industry trends in the cable, satellite, and fiber-to-the-home markets. New Screen TV, the independent film TV channel, is now part of the basic cable package of Optical Entertainment Network (OEN), and this Video On Demand contract is an additional agreement between New Screen TV and OEN for New Screen TV's second channel, New Screen Films On Demand(TM). The contract calls for New Screen TV to receive a percentage of the fees received by the cable provider from the purchase of New Screen Films On Demand's movies by OEN's subscribers.
"New Screen TV is now a part of the billion dollar pay-per-view industry," said Rick Erikson, New Screen TV's General Manager.
New Screen TV is scheduled to begin providing basic programming to OEN in the first quarter of 2006 as part of their basic cable package, and now the Video On Demand service has been added to the offering. New Screen TV will start receiving revenues in the first quarter of 2006.
OEN is based in Houston, Texas and will have the capability to provide digital television, Internet and telephone service via fiber optic cable, utilizing their FISION(TM) service, which is the largest deployment yet of fiber-to-the-home technology to 1,600,000 households in the Houston market.
New Screen Television, Inc. started as an Orlando, Florida-based broadcasting company that still transmits its television service, New Screen TV, to viewers over-the-air via WRCF-TV Channel 29 Orlando. New Screen TV is on the air and available 24 hours a day, 365 days a year.
This press release does not constitute an offer of any securities for sale. This press release contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These forward-looking statements involve certain risks and uncertainties that could cause actual results to differ, including, without limitation, the company's limited operating history and history of losses, the inability to successfully obtain further funding, the inability to raise capital on terms acceptable to the company, the inability to compete effectively in the marketplace, the inability to complete the proposed acquisition and such other risks that could cause the actual results to differ materially from those contained in the company's projections or forward-looking statements. All forward-looking statements in this press release are based on information available to the company as of the date hereof, and the company undertakes no obligation to update forward-looking statements to reflect events or circumstances occurring after the date of this press release.
Source: Vision Works Media Group, Inc.
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Vision Works Media Group
Inc.
Orlando
Naseem Shah
407-346-6717 or Fax 407-843-5997
vswm.com |
