CEO CONFIRMS EXTREMELY LOW PE-Ratio after the bell !
4,5 million$ in 98, that's 15-18cents/share
so the PE 98 is 4-5
PE 99 is 3
Friday June 19, 4:05 pm Eastern Time
Company Press Release
SOURCE: Kaleidoscope Media Group, Inc.
Kaleidoscope Baffled by Heavy Stock Sales
NEW YORK, June 19 /PRNewswire/ -- Henry Siegel, Chairman and CEO of Kaleidoscope Media
Group, Inc. (OTC Bulletin Board: KMGG; Frankfurt and Berlin Exchanges: BNN) indicated today
that he was unable to explain the heavy selling in the company's stock that has resulted in a sharp price
decline.
''On the contrary,'' Siegel stated, ''last month we reported that our figures for the quarter ended
March 31, 1998 were positive and exactly as analysts anticipated. We have exciting new series and
movies-of-the-week about to go into production with excellent international partners and we recently
retained a new CFO who is carefully guiding our cost efficiencies. The reception that your company's
projects have received at recent industry conventions, in our trade publications and from the stations
with whom we do business, has been most gratifying, and we stand by our projection of a $4.5 million
profit in the current year.''
Kaleidoscope Media Group, Inc. is a vertically integrated sports and entertainment company with
offices in New York and Los Angeles. Its operating companies are SeaGull Entertainment, Hollywood
Connection, LLC (direct marketing) and Kaleidoscope Entertainment (sports). Current KMG sports
properties include golf, ice skating, boxing and fitness. KMG produces internationally recognized
television programs including the ''Tarzan'' (series) and ''Merlin: The Magic Begins.'' The company's
services include mobile satellite and television production facilities, post-production, closed circuit
television, satellite leasing and program syndication.
SOURCE: Kaleidoscope Media Group, Inc. |
