OK Musicguy Here Goes:
PLANET ENTERTAINMENT: OTC:BB SYMBOL:PNEC CURRENT PRICE: $6.75
Poised for Nasdaq in nest 30-45 days if comapny has the time between making deals. When it hits Nasdaq there is a very good possibility funds will buy in. If so, rapid increase in stock price usually follows.
The original research on this company was done by rharris. Recently, this past Tuesday I spoke with Mr. Giakis myself. Confirmed all of rhariss points and more. Original posting slightly modified with present updates:
STOCK RESEARCH: PNEC
Ticker: PNEC
Exchange: OTC:BB
Company Name: PLANET ENTERTAINMENT
Street/Suite: 222 HWY. 35
City/State: MIDDLETOWN, NJ 07748
Phone: 732-530-8819
Contact person: WALLACE GIAKAS
Descr. of Bus: Planet Entertainment produces music compositions of such
types of music as gospel, adult contemporary, Reggae, Top
40, Blues, Country, Rap, Rock, Instrumental, Rock & Roll,
Jazz, Pop, Classical, Easy Listening, Big Band, R&B and
various ethnic folk music recordings. The Company has signed
a major distribution agreement with Nippon Columbia to
place its products throughout the Far East and a joint
distribution agreement with Monte Carlo based Monaco
Records for distribution throughout Europe.
The Company will market from its existing catalog or will
repackage compilations of previously recorded music by
utilizing its extensive library of master recordings and
production facilities.
The Company either has ownership or distributor interest in
the following labels: Ornyx Records, Century Records and
Black Tiger Records.
The Company's wholly owned Record Labels include:
PNEC Records: The PNEC Record label will exploit the
Company's vast catalog of Master recordings including: The
Tokens, Fats domino, Gladys Knight & The Pips, Percy
Sledge, Ike and Tina Turner, Kenny Rogers, Willie Nelson,
Waylon Jennings. Del Shannon, Edison Lighthouse, Jose
Feliciano, B.B. King, Johnny Winter, Freddie Fender, Herbie
Hancock, Charley Parker, Dizzy Gillespie and Miles Davis,
Luciano Pavarotti and many others. In total, the company
owns or has licenses to over 15,000 master recordings.
Higher Ground: The Higher Ground label currently has
produced and released three artists GMWA Youth Mass
Choir, The Philadelphia Mass Choir andCarlton Burgess. The
Company additionally has Chris Simpson who has performed
with gospel artist Kirk Franklin, and artist Charles ford under
contract.
Planet Records: The Planet Records label will be used for
identifying, producing, recording, marketing, promotion,and
development of new alternative and pop artists. The Company
is in negotiations with a strategic partner on a joint venture
with the label whereby the partner will fund some of the costs
of running label operations. In addition, the label is in
negotiations with a major distributor of independent labels.
The label intends to release its first artists in the first quarter of
1998. The plan calls for 4 artists to be released in 1998, 6
artists in 1999, and 10 in the year 2000.
Urban: The Urban label will focus on developing R&B,
Hip-Hop, Rap and urban artists. The cost for producing
Urban Artists is considerably less than for Alternative Artists.
The label intends to produce CD singles with "Name
Producers" of its new artists at low cost. When label
projections are met, a full length album will be produced and
marketed thereby limiting the risk of producing the album first.
The Company also additionally intends to combine a known
urban artist and producer with some of the Higher Higher
Ground Label artists. With the multi-platinum success of Kirk
Franklin on Interscope Records (Universal), the Company
feels that there is strong potential for crossover sales of Urban
and Gospel.
The company produced the last Bob Marley CD "Soul
Almighty" (rated No. 1 by Billboard magazine in the Reggae
Category in June 1996.) It intends to release titles in the Far
East as per the Nippon Columbia Agreement in the 3rd
quarter 1997. Some of the titles include: Juke Box Legends
Vol. 1, History of Classic Rock 'N' Roll, Fats Domino Live,
Ike & Tina Turner, Golden Country Classics, B.B. King,
Herbie Hancock, Tony Bennett with the Count Basie
Orchestra and the Ultimate Blues Collection.
OBJECTIVES (from their website)
The Company's strategy for growth and expansion of its position in the recorded music
business is based on; selling diversified recorded music in markets with growth
potential, re-releasing and introducing records by established artists with a history of
successful releases from it's own music catalog and expanding its own music catalog
through the acquisition of other master catalogs.
The Company believes that this strategy distinguishes the Company from certain of its
larger competitors who have traditionaLly focused on the development of new artists
with the potential for mass appeal.
Other primary objectives of our organization:
l. The production and distribution of restored and unreleased material from the
Master Catalog amounting to not less than 25 albums per quarter.
2. Continued development of substantial publishing with the Company's wholly
owned subsidiary.
3. The acquisition of additional catalogs.
4. Production of soundtrack applications for the motion picture industry
(currently working on three film soundtracks).
5. Production and distribution of outside company products which Planet
Entertainment, Inc. Will share publishing, distribution and long term licensing
arrangements.
Approx. Shareholder information:
Short Position: About 500,000 shares (May 5. 1998)
Shares Issued: 11,925,055
Free/Trad. Float: 1,515,000 - I hear that approx. 30% is owned by people close to the
company as a long-term investment ($20)
Shareholders Equity: $7.9 M
Assets: $13.8 M
Long-term Debt: $1.2 M
Transfer Agent: OLD MONMOUTH STOCK TRANSER
Phone#: 732-872-2727
Contact: JOHN TROSTER
Impending News: Major distribution in Japan for 100 of the 15,000 master albums that
Planet has in its library. Shipping should start very shortly. Further major distribution
contracts coming shortly (other countries). A lot of impact news soon and, best of all,
rumor of huge acquisition soon that will put this Planet out of the solar system.
Sec filing: Yes! - currently on Edgar
Website: Great site - planetentertainment.com
Notes:
Disclaimer: The above information was obtained from the company's IR department and
is deemed reliable.
More Info:
Mr. Giakis feels that outside deals are bigger than Internet music deal. (Releases Follows).
Company in process of putting more deals together.
Company hopes to have distribution in over 40 countries in the near term.
PRESS RELEASES AND DEALS SIGNED IN PAST 30 DAYS-READ ALL FOUR.
Monday April 13, 3:12 pm Eastern Time
Company Press Release
Planet Entertainment Announces Nippon Columbia to Release First 50
Albums in the Far East to Begin June 20 and a South Africa Joint Venture
MIDDLETON, N.J.--(BUSINESS WIRE)--April 13, 1998--Planet Entertainment
Corporation (OTC BB:PNEC - news)
announced today that Nippon Columbia has confirmed June 20, 1998 as its release date
for 50 CD albums. The CD's will be
released under ''PNEC Groovers'' with various press, distributors and retailers being
notified now. A second 50 CD albums
are scheduled to be released by year end.
Nippon Columbia target sales call for a minimum of 2,000 albums sold per title per
month which would bring in over $2 million
(USD) gross profit to Planet over the next 18 months, in accordance with its distribution
agreement with Nippon Columbia of
July 1997. Planet feels these projections would be surpassed once market penetration and
product awareness are achieved in
the Far East. Industry statistics report 60% of a new release is sold within the first six
months of that release.
Planet Entertainment has also announced a Joint Venture agreement with Shandel Music
covering the South African territory.
Shandel will ensure the successful release of Planet's catalog product to include
''Premium'' product compilations for chain
stores, individual sub-licensing, and general retail release. New and previously
unreleased product from Planet Entertainment
will be sold and distributed by Sony Music Entertainment (South Africa) in terms of an
existing agreement between Sony and
Shandel Music. Sales are to begin mid-summer 1998.
Planet Entertainment Corp. owns a 15,000 master recording catalog and is engaged in the
producing, licensing, acquisition,
marketing and distribution of high quality recorded music for all varieties of music, video
and motion picture formats. Planet,
through its interactive division, is working to create CD's that will provide a seamless
link to the Internet and is currently
releasing both audio and enhanced CD's that contain multi-media, playable on
computers, as well as, audio systems that have a
CD-Rom Drive. Announcements concerning additional markets of distribution will
be announced as soon as agreements are
finalized.
Thursday April 30, 10:47 am Eastern Time
Company Press Release
Planet Entertainment Announces Agreement with Atlantic Coast Digital
Concepts to Begin Music Internet Distribution over its Web Site
MIDDLETOWN, NJ--(BUSINESS WIRE)--April 30, 1998--Planet Entertainment Corp.
(NASDAQBB:PNEC) has
announced today that it has signed an agreement with Atlantic Coast Digital Concepts to
expand its web site in order to
aggressively market its proprietary music catalog of over 15,000 titles, as well as an
additional 100,000 commercially available
titles. The company plans to aggressively market over the Internet and make its catalog
available for consumer downloading on
home PCs while continuing to seek additional traditional distribution partners throughout
the world.
Atlantic Coast Digital Concepts, headed by Daniel A. Johnson/CEO, specializes in new
media technologies and content
development. Its clients have included IBM, Time Warner, Sunshine Interactive,
Sonicnet and AT&T. Atlantic has recently
built the website for musician Joe Jackson and is currently in negotiation with other
musical groups that plan to sell direct to
consumers via the Internet. Daniel A. Johnson has been one of the pioneers of
multi-media enhanced audio CD's.
Planet Entertainment's catalog of master recordings include such artists as The Tokens,
Fats Domino, Gladys Knight & The
Pips, Percy Sledge, Ike & Tina Turner, Kenny Rogers, Willie Nelson, Waylon Jennings,
B.B. King, Johnny Winter, Freddie
Fender, Herbie Hancock, Charley Parker, Dizzy Gillespie, Miles Davis, Luciano Pavarotti
and many others. Nippon Columbia
is releasing 50 Planet Entertainment CD albums throughout the Far East on June 20
under the label of PNEC Groovers.
Joe Venneri, president of Planet Entertainment, stated ''This alliance with Daniel
Johnson and Atlantic Coast Digital Concepts
will enable Planet Entertainment to enter the arena of Global Internet Music Marketing
and consumer downloading, while
making our company competitive with N2K, CD-Now and K-TEL.''
Friday May 1, 8:00 am Eastern Time
Company Press Release
Planet Entertainment Announces Agreement With Atlantic Coast Digital
Concepts to Begin Music Internet Distribution Over Its Web Site
MIDDLETOWN, N.J.--(BUSINESS WIRE)--May 1, 1998--Planet Entertainment Corp.
(OTC BB:PNEC - news) has
announced today that it has signed an agreement with Atlantic Coast Digital Concepts to
expand its web site in order to
aggressively market its proprietary music catalog of over 15,000 titles, as well as an
additional 100,000 commercially available
titles.
The company plans to aggressively market over the Internet and make its catalog
available for consumer downloading on
home PCs while continuing to seek additional traditional distribution partners throughout
the world.
Atlantic Coast Digital Concepts, headed by Daniel A. Johnson/CEO, specializes in new
media technologies and content
development. Its clients have included IBM (NYSE:IBM - news), Time Warner
(NYSE:TWX - news), Sunshine Interactive,
Sonicnet and AT&T (NYSE:T - news).
Atlantic has recently built the website for musician Joe Jackson and is currently in
negotiation with other musical groups that
plan to sell direct to consumers via the Internet. Daniel A. Johnson has been one of the
pioneers of multimedia enhanced audio
CDs.
Planet Entertainment's catalog of master recordings include such artists as The Tokens,
Fats Domino, Gladys Knight & The
Pips, Percy Sledge, Ike & Tina Turner, Kenny Rogers, Willie Nelson, Waylon Jennings,
B.B. King, Johnny Winter, Freddie
Fender, Herbie Hancock, Charley Parker, Dizzy Gillespie, Miles Davis, Luciano Pavarotti
and many others. Nippon Columbia
is releasing 50 Planet Entertainment CD albums throughout the Far East on June 20
under the label of PNEC Groovers.
Joe Venneri, president of Planet Entertainment, stated, ''This alliance with Daniel
Johnson and Atlantic Coast Digital Concepts
will enable Planet Entertainment to enter the arena of Global Internet Music Marketing
and consumer downloading, while
making our company competitive with N2K (NASDAQ:NTKI - news), CD-Now
(NASDAQ:CDNW - news) and K-TEL
(NASDAQ:KTEL - news).''
Monday May 4, 12:45 pm Eastern Time
Company Press Release
Planet Entertainment and JAD Records Sign Agreement for Planet
Studios to Produce Next Eight Bob Marley Albums
MIDDLETOWN, N.J.--(BUSINESS WIRE)--May 4, 1998--Planet Entertainment Corp.
(NASDAQ, BB:PNEC)
announced today that it has signed a production agreement with JAD Records to produce
the next eight Bob Marley audio
CDs at Planet Studios to begin immediately.
Danny Sims, president of JAD Records, has established a permanent mark on today's
music scene through his pioneering
work with such legendary figures as reggae king Bob Marley, and R & B stars Michael
Jackson, Cameo and Johnny Nash. In
October 1972, JAD Records and their distributor, CBS, assigned their contract with
Marley to Island Records, with Sims
remaining publisher of all Bob Marley and The Wailers songs.
As Marley's fame grew, Sims remained involved with various other aspects of his career,
directing several tours and finally
assuming a co-managerial role in 1980 with Alan ''Skill'' Cole until Marley's untimely
death a year later.
The music that resulted from these early sessions is as much a product of Marley's
creative genius as the production and A &
R vision of Sims and his engineer at the time, Joe Venneri, currently the president of
Planet Entertainment.
Sims plans to release the cream of over 200 masters recorded by Marley during his
formative years. The masters contain
previously unheard or unreleased material, forming the basis of JAD's planned output
over the next few years including SOUL
ALMIGHTY: The Formative Years Vol. I (audio and enhanced CD) that was produced in
Planet Studios last year.
Disclaimer: This stock is very volatile due to the short position. However, IMO the shorts will run for cover when Nasdaq listing is achieved. There are several long term investor's in this stock and with the small float shorts could be squeezed.
If you have any further questions please contact Mr. Giakis.
Good Investing -- GARY |
