Tom (O.T. re: SDMT),
Actually its INB (International Net Broadcasting). I'm buying SDMT as a way of investing in INB before INB really trades (almost like an IPO). INB has some great web sites that experience heavy and repeat traffic (23 million hits in December). Here's the release from November which describes the merger agreement, which should be completed literally any day now:
Sedmet Exploration Enters Into Agreement to Acquire International Net Broadcasting, L.L.C.
DENVER--(BUSINESS WIRE)--Nov. 20, 1998--Sedmet Exploration Inc. (Nasdaq BB:SDMT - news) has entered into an agreement to acquire International Net Broadcasting, L.L.C.
Sedmet intends to issue 2.6 million shares to complete the acquisition. Upon closing of the transaction, the combined companies will have 8.35 million shares outstanding.
International Net Broadcasting was founded in January 1997, by former music executives Stephen Brown and Robin Wren, experienced professionals with outstanding records of achievement in their fields. In his twenty-seven year career, Robin Wren helped to establish careers by overseeing the promotion and marketing for such legendary artists as Elvis Presley, David Bowie, Dolly Parton and John Denver.
International Net Broadcasting functions under the name of ''Entertainment Blvd.'' as an Internet content provider, developing content in the areas of music, movies, and sports, as well as several other areas of interest. Entertainment Blvd. offers the highest streaming video quality available for music, movies and sports while providing video technology which requires a download time of only a few seconds.
The flagship site of Entertainment Blvd. (http://www.entertainmentblvd.com) is Vidnet, the most complete interactive music video channel on the web. Launched in March, 1998, Vidnet's viewer base has increased to include fans from over 115 countries. For its first three months, Vidnet was receiving 2 to 3 million hits a month. Since then, the hits have jumped from three million hits a month to a high of fourteen million hits last month.
Music videos are available in a wide variety of musical formats. including Rock, Urban, Country and Latin, and after watching the videos, viewers can purchase product immediately from Entertainment Blvd. associate Amazon.com. The site has received numerous awards, as can be seen in the site's Trophy Room.
Reviewers include Microsoft, who gave Vidnet four stars, calling it one of the best music sites an the web. Nationally renowned USA Today picked Vidnet as a Hot Site, and America's No. 1 entertainment magazine, Entertainment Weekly, gave Vidnet an "A" rating. In addition, Vidnet was recently voted the number one site by music.guide.com, over sites like MTV, Rolling Stone, and Sonic Net's Streamland.
Newly-launched Screen Clips provides a service to movie-goers around the world. Movie trailers have been culled from all of the major motion picture studios. The opening page of Screen Clips offers a retrospective of classic film moments, and from there the individual clips are separated by date in the genres of ''Coming Soon,'' Now Playing,'' and ''On Video.''
The most recent addition to the Entertainment Blvd, is the just- launched Pro Sports Net. One of sports' foremost broadcast personalities, Tim McCarver, just debuted his new talk show, ''McCarver One on One.'' The weekly audio shows include Tim's commentaries as well as a two-hour segment focusing on interviews.
New shows will be broadcast each weekend, and starting in early 1999, all new ''McCarver One on One'' shows will be broadcast on video. Upcoming interviews include such sports figures as Michael Jordan, Mark McGwire, and John Elway.
A website's ability to attract a significant amount of traffic has become vital to its on-line development strategy. Strategic alliances have been a key element of Entertainment Blvd.'s success.
Entertainment Blvd.'s associations with companies such as Marathon Sports, Real Networks, Internet service provider Worldcom/Cable & Wireless, and on-line retail leader Amazon.com have been engineered to provide the maximum quality of content, technology, and product fulfillment available.
This agreement is subject to board, shareholder and regulatory approval.
Contact:
Sedmet Exploration Inc.
Craig Doctor, 888/649-5622 |
