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Strategies & Market Trends : Fatty's Donut Shop -- Ignore unavailable to you. Want to Upgrade?

To: Khris Smith who wrote (1684)	6/10/1999 9:22:00 PM
From: Matt Brown	Read Replies (1) \| Respond to of 5041

Khris, On DMEC release.... Some may look at this and see..Oh wow, more shares in the O/S for people to sell. But that is not the way to look at this. Think about it! Bankers know just about everything that goes on inside of a company. If you owe them a lot of money, they are not going to let you weasle out of it! Obviously, the bankers know really good things are coming, or they woudln't have converted the $$ to shares! Duh! Read deeeeepp into the PR with my logic and see if you concur! Plus, bear in mind that it didn't even hit all the wires until after hte markets closed! FM Diamond Entertainment Announced Today, the Conversion to Restricted Equity, $1.9 Million in Current Liabilities Owed to Two of Its Largest Creditors CERRITOS, Calif.--(BUSINESS WIRE)--June 10, 1999-- Diamond Entertainment (OTC:DMEC - news) is in the business of distributing and selling videocassettes, general merchandise, a patented flying toy ''Zoombie'', furniture, and Cine-Chrome gift cards, and in the process of becoming its own web-host is pleased to announce the successful arrangement to reduce its current liabilities by entering into agreements with its two largest business creditors to convert their remaining loan balances totaling $1.9 million into one-year restricted Common Stock of Diamond Entertainment Corporation. ''The elimination of these liabilities will provide added flexibility and strengths to introduce Diamond's new products which are planned for the second half of 1999,'' stated James Lu, CEO of Diamond Entertainment. ''Diamond will be doing business as e - DMEC and together with its new strategic alliance partners, to be announced later, aggressively pursue the major retail chains, as well as, feature current and new products on our upcoming e-commerce site e-dmec.com.'' Presently the internet server is being tested for traffic restrictions and security. As further development occurs, the financial community will be updated in a timely manner. Safe Harbor Act Disclaimer: This release may contain forward-looking statements that involve risks and uncertainties, including, without limitation, continued acceptance of the company's products and services, increased levels of competition, new products and technological changes, the company's dependence upon financing, third-party suppliers and intellectual property rights, and other risks detailed from time to time in the company's federal filings, annual report, offering memorandum, or prospectus. Note to Editors: ''Cine-Chrome'' is usually spelled with an asterisk rather than a hyphen.