...Part VI...should I even dream of the end:
Darn! Missing Hopey PR!
TRANSTAR COMMUNICATIONS, INC., ANNOUNCES A MAJOR
ACQUISITION WITH INFO-LAB,
Inc., for Their OL2 Division
LOS ANGELES, Sept. 10 /PRNewswire/ -- Transtar Communications, Inc.,
is pleased to announce the acquisition with Info-Lab, Inc., for their
OL2 division. Info-Lab, Inc., formed in November, 1995, is based in
Schaumburg, Illinois and was conceived by Chicago area attorney William
J. Judge and is managed by its President Daniel A. Spaeth and Vice
President Don Shattuck. The Company's business is related to substance
abuse testing in the workplace, including laboratory testing services
and online information. The company began its test service operations
in June, 1996 and has recently entered into a Joint Venture with the
Methodist DH14S-certified Laboratory in Peoria, IL. Over a two year
period the company developed a subscription on-line library service,
www.OL2.net a unique resource for legal, medical and scientific
information.
The company executed several contracts which will result in significant
revenues from OL2 beginning in October 1998, to reach approximately 3
to 4 million dollars over the next 12 months. OL2 is a unique on-line
library of information related to the risky business of employment drug
and alcohol testing. Despite its nearly 3,000 court decisions
(complete text and summarized), federal and state statutes and
regulations, OL2 is more than just information. Through its Q&A
sections, subscribers can ask questions and receive input from medical,
legal and administrative experts and other subscribers. OL2 is not
just information, its access to answers.
The World Wide Web is a hotbed of business advertising and commercial
activity. The fact that the medium has become both a fertile ground
for advertising and a new playing field for business transactions,
underscored the importance for every business to have a presence on,
and unfettered access to the Internet. The Web is also increasingly
providing a convenient and low cost means of general telecommunications
(e-mail, net telephony and facsimile, video conferencing, etc.) on a
global scale. The worldwide Internet populations are predicted to grow
to 100 million users by the turn of the century.
Transtar is a leading network provider in the Internet market. Using
the Internet, Transtar will increase a company's visibility and brand
name recognition among owners, business managers and end users.
Transtar's networking experts can provide companies with custom
solutions tailored to specific business and organizational needs. Also
known as virtual hosting, subscribers can originate and maintain their
Web sites from Transtar's centralized facilities without having to
purchase expensive equipment and software. Transtar also offers state
of the art web sites, with features such as live streaming video and
with the company's talented graphics design department, Transtar can
offer the most bang for the buck on the Internet. The high speed
Internet capabilities of today, combined with the high quality of
digital technology and low cost of transmission, gives Transtar the
next step in the progress of the communication industry, which will
carry into the next millennium.
Transtar Communications, Inc. is in the business of providing
international wholesale long distance telecommunications services to
their providers through out the United States as well as full Internet
services.
Safe Harbor Act Disclaimer:
The forward looking statements in this release involve risk
uncertainties, including but not limited to the successful completion
of the projects. Successful completion of these projects are subject to
the number of uncertainties and unforeseen events. There can be no
assurance of the goals of the company stated herein may be realized.
Forward looking statements represent the company's beliefs and
expectations concerning future events.
SOURCE Transtar Communications, Inc.
-0- 09/10/98 /CONTACT: Investor Relations
for Transtar Communications, Inc., 310-388-1040/
/Web site: ol2.net
CO: Transtar Communications, Inc.; Info-Lab, Inc. ST: California
IN: MLM CPR SU:
GENESIS MEDIA GROUP, INC. REPORTS FIRST AND
Second Quarter Financial Statements
CULVER CITY, Calif., Sept. 10 /PRNewswire/ -- The following financial
statement is being released by Genesis Media Group, Inc. (OTC Bulletin
Board: GNNX):
Genesis Media Group, Inc.
Balance Sheet
March 31,1998
(Unaudited)
ASSETS
Current Assets
Cash on hand and in banks 15,845
Contract receivables (Note 2) 1,800,000
Inventory (Notes 1,3) 41,050,907
Prepaid expenses and misc. receivables 85,659
42,952,411
Property & Equipment (Net of $13,557 accumulated depreciation) (Notes 1,
4) 96,445 Other
Assets (Note 2,5,8) 3,740,505
$46,789,361
LIABILITIES & STOCKHOLDERS' EQUITY
Current Liabilities
Accounts payable $90,780
Accrued expenses 69,524
Current portion of long term debt (Note 6) 820,777
981,081 Long Term Debt (Note 6)
1,463,699
Total Liabilities 2,444,780
Stockholders' Equity
Common stock -- Par value $0.0001, Authorized 50,000,000
shares, issued and outstanding 19,846,000 shares 1,
986
Additional paid in capital (Note 3) 41,189,736
Retained earnings -- March 31, 1998 3,152,859
44,344,581
$46,789,361
Genesis Media Group, Inc.
Statement of Income and Retained Earnings
For the Three Months Ended March 31, 1998
(Unaudited)
Gross Sales & Other Income (Net of cost of sales)
$145,092 Operating Expenses
Amortization of copyrights 692
Automobile & parking 2,901
Bank charges 339
Depreciation (Note 1) 4,586
Insurance 2,677
Legal & accounting 7,392
Miscellaneous 3,394
Outside services 3,570
Postage 373
Rent & storage (Note 7) 49,219
Salaries & wages 17,868
Taxes & licenses 3,945
Telephone 4,402
Travel 386
101,744
Net Income before Taxes 43,
348 Provision for Taxes
800
Net Income 42,548
Net Income per common share (Note 9) $0.004
Retained Earnings -- December 31, 1997 3,110,
311
Retained Earnings -- March 31, 1998 $3,152,859
Genesis Media Group, Inc.
Notes to Unaudited Financial Statements
March 31, 1998
Note 1 -- Summary of Significant Accounting Policies
The summary of significant accounting policies of Genesis Media Group,
Inc. is presented to assist in understanding the Company's financial
statements. The financial statements and notes are representations of
the
Company's management. Management is responsible for their integrity.
These accounting policies conform to generally accepted accounting
principles and have been consistently applied in the preparation of the
financial statements.
Line of Business
The Company is primarily engaged in media and advertising.
Accounts Receivable
The Company provides allowances against accounts receivable to maintain
sufficient reserves to cover anticipated losses.
Inventory
Inventory is stated at the lower of cost or market (with the exception of
the inventory acquired from Genesis Group, Inc. which has been stated at
its appraised value), cost generally being determined on a first-in,
first-out basis.
Equipment and Depreciation
Depreciation has been provided on the same basis for tax and financial
accounting purposes using the straight-line, accelerated and declining
balance methods. The estimated useful lives of the assets are as follows:
Production equipment 5 - 7 years
Office equipment, furniture & fixtures 5 - 10 years
Leasehold improvements 3 - 10 years
Copyrights and Amortization
Copyrights were purchased and are subject to the 15 years amortization
rules. For purpose of these financial statements, copyrights are
amortized on the straight line basis over 15 years.
Note 2 - Contracts Receivable
In August, 1997 Genesis Media Group, Inc. (formerly Hollywood Showcase
T.V. Network, Inc.) purchased in a tax free exchange a company named
Genesis Group, Inc. One of the assets received is a contract for the
sales of certain films. The terms of the contract call for monthly
payments which commenced March 31, 1998 in the amount of $1,000,000
month
for six months and $200,000 per month for the next 24 months. The
total of the contract being $5,400,000. Income tax on this transaction
will be
reported on the installment basis. Beginning October 1, 1999, a
licensing
fee of $100,000 will be paid monthly to the Company until September 1,
2002.
Note 3 - Inventories
The inventory was acquired from Genesis Group, Inc. and consists of
movie
films, music tapes and CD ROM interactive tapes. With the inventory
comes
the rights to reconfigure, compile, manufacture, distribute, license,
sell
and lease. Each item is one of a kind. The Company has an independent
appraisal that identifies each item of inventory, and evaluates it.
Inventory is carried at appraised value. Also included in inventory
are the costs incurred to date in developing the production of the
"Diary of
James Dean".
Inventories consist of the following:
Music and films $41,000,000
Products 12,400
Productions in process 38,507
$41,050,907
Note 4 - Property and Equipment Property and equipment consists of
the following at cost:
Computer equipment $26,946
Office furniture 27,056
Office equipment 35,354
Production equipment 1,000
Leasehold improvements 19,646
110,002
Less accumulated deprec. (13,557)
$96,445
Note 5 - Other Assets Other assets consists of the following:
Deposits $13,728
Copyrights net of accumulated
amortization of $692 40,808
Loans to TranStar 35,331
Production costs 50,638
Long term portion of
contract receivable 3,600,000
$3,740 505
Note 6 - Long Term Debt Long turn debt consists of the following:
Contract payable $2,284,475
Less current portion (820,777)
$1,463,698
Note 7 - Commitments and Contingencies The Company is committed under
a lease dated October 1, 1997 and expiring September 30, 1998, for a
minimum annual rental (exclusive of real estate taxes, maintenance,
etc.) as follows:
Year-ending December 31 1998 $52,776
Said lease is payable monthly (Cash = $5,864 and Services = $2,932)
Note 8 - Investment in TranStar Communications, Inc. The Company has
an investment of 10% in the common stock of TranStar Communications,
Inc. However, said investment has not been included in this financial
statement as a separate item. The investment in TranStar has been
combined with loans to TranStar ($35,331).
Note 9 - Earnings per Common Share Earnings per share of common stock
has been computed based on a weighted average of 10,547,926 shares.
SOURCE Genesis Media Group, Inc.
-0- 09/10/98 /CONTACT: Carl J. Conte of
Genesis Media Group, Inc., 310-665-0221/
(GNNX)
CO: Genesis Media Group, Inc. ST: California IN: ENT SU: ERN
A copy of Tom's email from GNNX investor relations:
Dear Mr. Brown,
You are welcome for the replies. I did promise to respond to all within a reasonable
time frame. As for the unanswered questions that you posed to me, here goes; In
regards to the cost of TNNS - is about .26 cents per share. You also requested the
cost & percentage of ownership for G.E.N. and M4 Radio. As for G.E.N. ( our vitamin
company) Genesis owns 100% interest of G.E.N. and the cost
was 850,000 shares under Rule 144 Restricted Genesis stock. M4 Radio - which is our
radio station out of Florida - Genesis owns 80% and the cost is 500,000 shares under
Rule 144 Restricted. For you final question in regards to the sources of revenue for the
first two quarters; Genesis has produced revenues from it's core business of music
distribution, commercial contracts, media consulting, and editing and production work,
i.e. commercial and info-commercials.
I went on the thread yesterday and read some of the shareholders ridiculous
accusations. I hope this information will keep them quiet. There are some very serious
accusations that they are making against the company. If they feel like that they should
schedule an appointment to come in and check out our facilities. That's why we have an
open door policy. With the accusations they are making it's no wonder that the stock
price is falling. I hope I have put your mind at ease.
Best Regards,
Tina O'Brien.
Another email from Tina at GNNX...
> I apologize for not being able to reply to your e-mails, but
> unfortunately was unable to come to work because my daughter had a bad
> ear infection. The Telecom contracts are still in full effect, delays
> have been due to telecom industry regulations, and equipment
> installation. Currently the company is in the process of circuit testing.
> Unfortunately, I am under the rules of insider information therefore I
> cannot reveal certain information.
>
Wednesday October 7, 9:03 am Eastern Time
Company Press Release
SOURCE: Genesis Media Group, Inc.
GENESIS MEDIA GROUP, INC., announces corporate up-date
LOS ANGELES, Oct. 7 /PRNewswire/ -- Genesis Media Group, Inc. (OTC Bulletin
Board: GNNX - news), expects to realize strong sales and earnings growth for the
second half of 1998 into 1999. The Company expects to see continued growth through
further mergers and acquisitions as well as increased revenue from existing subsidiaries
and current projects.
The recent acquisitions made by Genesis Media Group, Inc., of Genetic Evolutionary
Nutrition (GEN)www.genn.com, as well as Midnight Marquee Entertainment (M4
Radio Program)www.M4radio.com, represent our continued effort and desire to
capitalize on excellent opportunities with exceptional growth potential that become
available to the company. Don R. Logan, Chairman of the Board stated the following:
''Its extremely exciting and fulfilling heading an explosive growth company such as
Genesis. We believe that these acquisitions as well as all acquisitions that are made by
Genesis, will give the company the flexibility necessary to become a force in the
entertainment and marketing industry, as we approach the new millennium.''
Telecommunication Services: Due to technical and supplier delays, the launch of
Genesis's Telecommunication contracts, should commence in the forth quarter of 1998.
Notwithstanding theses unforeseen delays, Genesis feels confident that the forth quarter
of 1998, should produce spectacular results.
Frank Sinatra Music Distribution: Due to the fact that the market is strong for Frank
Sinatra memorabilia, domestic and international sales are currently ongoing.
James Dean: Our James Dean Project is approximately 90% complete. More
information to be released, as we near completion.
Web Site: Genesis is currently in the process of creating a new web site, which will be a
lot more informative to our shareholders on the operations of our company.
New Office Facilties: Genesis Media Group, Inc. is currently in the process of moving
to new office facilities located at, 5757 W. Century Blvd. Ste# 340, Los Angeles, Ca
90045. These new executive offices are needed due to the expansion of our current
operations. Our phone systems will be temporarily of line today, October 7th, 1998,
and will be operational on Thursday, October 8th, 1998.
The forward looking statements in this release involve risks and uncertainties, including
but not limited to the successful completion of the projects are subject to the number of
uncertainties and unforeseen events. There can be no assurance of the goals of the
company stated herein may be realized. Forward-looking statements represent the
company's beliefs and expectations concerning future events. These forward-looking
statements are qualified by important factors that could materially impact the company's
business and its ability to complete these projects.
SOURCE: Genesis Media Group, Inc.
Tina leaves GNNX...didn't last to long...
To: steve mcruiz (2301 )
From: Tom Brown
Wednesday, Oct 7 1998 12:10PM ET
Reply # of 2840
I received an email from Tina O'Brien late yesterday: "I am very sorry to inform you of
my departure of Genesis Media Group. I felt it appropriate to inform you and the other
investors of such news. I can no longer discuss the affairs of Genesis or any other
company associated with it."
She wished us good luck. I am sorry to see her leave as we were starting to
communicate. I also wish her the very best in whatever she does.
This mornings news is good and certainly hope we the investors can continue to
communicate with the Company. The new web page should help. Most of the investors
I have talked to agree that the idea of litigation is premature and useless. I agree. Let us
go forward!!
Thursday October 8, 4:39 pm Eastern Time
Company Press Release
SOURCE: Genesis Media Group, Inc.
Genesis Media Group, Inc. Updates Shareholders on Dividend Distribution
LOS ANGELES, Oct. 8 /PRNewswire/ -- Genesis Media Group, Inc., (OTC Bulletin
Board: GNNX - news), appreciates the shareholders' patience in the distribution of the
one (1) time stock dividend in Transtar Communications, Inc. (OTC Bulletin Board:
TNNS - news).
All certificates have been mailed to the shareholders of record, as of the record date,
and one certificate was mailed to Cede & Company for distribution to the various
brokerage firms and their clients, who are shareholders of record.
If any shareholder has not received their dividend as of yet, please feel free to contact
the company immediately at (310) 665-0221, or shareholders should contact their
brokerage firms and/or brokerage firms' clearing house immediately to receive the
distribution of their dividend.
For further information, please contact: Carl Conte, V.P. Operations of Genesis Media
Group, Inc., (310) 665-0221.
SOURCE: Genesis Media Group, Inc.
Transtar Communications, Inc., Announces the Introduction of TNNS-Theater.
LOS ANGELES, Feb. 4 /PRNewswire/ -- Transtar Communications, Inc., (OTC
Bulletin Board: TNNS - news), will begin deploying ''Film On Demand'' utilizing
samples of its vast classic film library and Microsoft Windows Media Technologies. This
real time connectivity will be available to the global Internet community on a 24 hour, 7
day-per-week bases.
Transtar has contracted Microsoft Windows Media Technologies Service Provider,
Media Development Inc., to provide encoding, as well as hosting services for the film
library.
''Programming-On-Demand'' is without question the wave of the future for viewing
movies, educational material, sports, business and all other film and video products.
WebEvents, a Microsoft web property, features links to streaming media content using
Microsoft Windows Media Technologies. This site has soared to over 400,000 hits per
day.
Media Development Inc. is one of the recognized leaders in Internet Streaming Video
Services, with 2 ''LIVE'' sites featured on, ''webevents.msn.com''. Transtar,
upon-completion of the video encoding, plans to submit the new ''TNNS-Theater,''
video site for consideration on ''webevents.msn.com''.
As more films are ready for viewing and others become available to the Transtar
portfolio of films, consumer advertising during showings will be sold along with DVD
disk and tapes of all movies in the Transtar collection.
Safe Harbor Act Disclaimer:
The forward-looking statements in this release involve risk and uncertainties, including
but not limited to the successful completion of the projects. Successful completion of
these projects are subject to the number of uncertainties and unforeseen events. There
can be no assurance of the goals of the company stated herein may be realized.
Forward-looking statements represent the company's beliefs and expectations
concerning future events. These forward-looking statements are qualified by important
factors that could materially impact the company's business and its abilities to complete
these projects.
SOURCE: Transtar Communications, Inc.
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