PALM SPRINGS, Calif., March 9 /PRNewswire/ -- MediaConcepts, Inc. (OTC
Bulletin Board: MDCE) -- In its continuous effort to become a fully
reporting company, Mr. Robert Torres, Chief Financial Officer of
MediaConcepts Inc. said today, "We have retained the services of Security
Attorney, Iwana Alami in Newport Beach CA, to assist MediaConcepts, Inc.
with becoming fully reporting including all necessary filings for 10SBs,
10-Ks, and 10-Qs and any other required filings, and bring our company
current within SEC and Nasdaq requirements. We are looking to be in full
compliance with reporting by May 1, 1998."
Mr. Torres is pleased to inform our shareholders that, "Our 10K for the year
ending 1997 should be completed within two weeks. The completion of this
filing is one more step in our company's goal of becoming a fully reporting
company."
Mr. Torres also explained in more detail the terms of their recent
acquisition of the cosmetic company Distributions Pasadena International
Inc. MediaConcepts will give 1.2 million shares of restricted stock for 100%
Ownership of Pasadena. Part of the transaction includes a management
contract with the present management team to stay on for a term of 5 years
with a 5 year extension. Pasadena's current sales is equivalent to 18 cents
per share earnings. The goal is to increase sales over the next 12 month
period to the 10-12 million dollar range, by expanding sales in Canada, and
extending the product line into the US market. This would provide
MediaConcepts, Inc. with approximately 50 to 55 cents per share earnings.
The acquisition is the first in the efforts of MediaConcepts, Inc. to
provide a consistent flow of regular earnings to enhance shareholders value
in this company, with solid earnings per share on a regular basis. Torres
states, "We are looking to increase earnings in MediaConcepts, Inc. through
a few key acquisitions, which would provide hard assets, and strong growth
potential for our shareholders, and give the company recurring per share
earnings, with substantial cashflow."
All film projects are moving forward and as production dates are set there
will be further press releases.
MediaConcepts is a diversified company, currently in film and entertainment,
and cosmetics, expanding in its effort to increase assets, and earnings per
share to build shareholder value.
/CONTACT: Ed Brody, Corporate Communications for MediaConcepts, Inc.,
760-320-9720/ I did some digging and came up with this post on AOL ....also Undervalued Dog does have .03 EPS for 97 and estimate .47 for 98 ....UD does interview the company before they recommend them so .03 should be close to what we should expect !
Which should be more than enough to get MDCE share price rollin again. |
