New Company to check out - PLANET ENTERTAINMENT
STOCK RESEARCH: PNEC
Ticker: PNEC
Exchange: OTC:BB (though not BB for long, see below)
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:
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. |
