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Microcap & Penny Stocks : PNEC - Planet entertainment ready to spin gold -- Ignore unavailable to you. Want to Upgrade?

To: Due Diligence who wrote (207)	7/22/1999 9:35:00 AM
From: PK	Respond to of 221

(BSNS WIRE) PLanet Entertainment Corporation Files for Listing On Nasdaq PLanet Entertainment Corporation Files for Listing On Nasdaq Business Editors MIDDLETOWN, N.J.--(BUSINESS WIRE)--July 22, 1999--Planet Entertainment Corp. (OTC BB:PNEC) announced today that the Company has submitted its application for listing on the NASDAQ Small Cap Market. Planet Entertainment, now has over $25 million in assets and $32.5 million revenues through nine months, 1999. The Company announced on July 19, 1999, it signed a letter of intent for a $14 million dollar private placement of its common stock. The new issuance is not a convertible funding with a floater. The terms of the common stock private placement are for a fixed dollar amount to be set prior to closing. The Company has entered into an agreement with Encore Capital, the holder of the Company's outstanding Convertible Preferred Stock, pursuant to which Encore (upon closing of the Private Placement) will sell back to the Company a portion of its Convertible Preferred Stock and the remaining balance of the Convertible will be exchanged for similar securities as being sold in the Private Placement. It is intended that the use of proceeds will include the further expansion of its fulfilment operations and capabilities including expanding its warehouse facilities, increasing inventories, furthering the growth of the Company's business-to-business website and finalizing the Company's digital downloading initiative. Additionally, funds will be dedicated to the Company's 50% owned Internet Radio Station (MPR Radio) together with Maxnet Inc. (OTC BB:MXNT) in order to create a presence in the marketplace through advertising, marketing and content origination. Planet Entertainment is a diversified entertainment company specializing in music production, wholesale distribution and marketing of front-line recorded music, video and DVD titles as well as its proprietary CD compilation albums. The Company, which operates a wholesale distribution facility, two wholly-owned recording studios and four record labels, is also engaged in the acquisition, enhancement, licensing and re-release of music from its extensive library of over 15,000 musical master recordings as well as the production of new artist albums. Special Note Regarding Forward Looking Statements: A number of statements contained in this press release are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 that involve risks and uncertainties that could cause actual results to differ materially from those expressed or implied in the applicable statements. These risks and uncertainties include but are not limited to: the Company's vulnerability to rapid industry change, technical obsolescence, limited customer base and reliance on relatively a small number of its customers, the possible impact of competitive products and pricing, uncertainties in the duration of the life cycle of its products, manufacturing difficulties, dependence on key personnel, market acceptance, reliance on a limited number of outside vendors, potential difficulties, managing growth, the ability to perform on existing and future agreements, the availability of financing, and other risks all, or any of which may have a material adverse impact on the company, its business, business prospects, and financial condition. --30--RYG/se* CONTACT: Planet Entertainment Corporation Ivy Ball, 732/530-8819 KEYWORD: NEW JERSEY INDUSTRY KEYWORD: ENTERTAINMENT Today's News On The Net - Business Wire's full file on the Internet with Hyperlinks to your home page. URL: businesswire.com * end of story *

To: Due Diligence who wrote (207)	7/22/1999 4:22:00 PM
From: PK	Read Replies (1) \| Respond to of 221

Update from Meyer's Group The Meyer Group, Inc. Email: EdMeyerJr@aol.com Thursday, July 22, 1999 PNEC (OTC-BB) $4.00 Planet Entertainment Corporation. A couple of weeks ago we gave you (AHWY NASDAQ) at $15.00 the stock pulled back to $12.00 and than sky rocketed to over $25.00. (AHWY is books PNEC is music) Well PNEC just made two very important Press Releases this week. One with a big financing the other a NASDAQ filing. The financing should take 30 days to close and NASDQ approximately 45 days. There is much more to the story of PNEC the company will be involved in several large meetings with Investment Bankers and Fund Managers in New York and Chicago next week. We are hearing that several deals have been made with very well known companies and that the company could also be in talks to explore a BUYOUT from a top Internet company. Target without BUYOUT $10.00 with a BUYOUT we believe stock could be $15.00. A MUST OWN! Bulls Make Money Bears Make Money Pigs Get Slaughtered