PAYV.. keep a close eye on it. Splitting 3 for 2 at 4-1/2. No idea what the float is. Love the comparisons they use. Thought you might be intersted in checking this one out. I can't short it, but it smells so far. Smells a little like QNET. Watch them too, if you aren't already. You want to see something funny, look at QNET's balance sheet if it is still available. They went as far as to include their office pictures in the report as assetts. HAHA
My first contributions as a loyal but normally quiet follower.
PAYFORVIEW COM CORP - Purchases Assets From Bacchus Entertainment /
Appoints Bacchus - CEO And President, Penny Green, As VP, Programming
And Production
New York, New York, Mar. 24, 1999 (Market News Publishing via COMTEX)
-- Payforview.com Inc. ("Payforview") is pleased to announce that it
has entered into an agreement with BACCHUS ENTERTAINMENT LTD.
("Bacchus") to purchase rights to two feature films, together with a
30% interest in an established Canadian production company.
Bacchus has arranged financing on the two feature films through
presales, broadcast agreements, distribution agreements, deferrals, and
insurance bonds. As part of this purchase, Payforview has acquired the
rights to produce "THE QUEST FOR SHADOW ISLAND", a family adventure
about a young boy and girl who go to battle against an evil wizard to
protect the environment. "THE QUEST" will be directed by STEVE BOYUM,
who directed the WALT DISNEY CO (NYSE: DIS) picture "MEET THE DEEDLES".
"THE QUEST" is fully developed, has over $750,000 attached in presale
agreements, and is being distributed by DREAM ENTERTAINMENT, which is
currently filming a picture with WHOOPIE GOLDBERG. Also purchased are
the rights to produce and distribute the film "GO", a kung fu movie
starring "DOUBLE HAPPINESS" star and Kung Fu Grand Master STEPHEN
CHANG. As well, the purchase includes the rights to produce and
distribute the show "DANCE '99 - MILLENIUM COUNTDOWN", a live weekly
production of dance parties held in cities around the world, which is
set to begin shooting in June, 1999.
Bacchus has acted as agent for Payforview in many of its recent
acquisitions, including the REEL MEDIA library, and has assisted
Payforview in developing and implementing its advertising and
programming plans. Payforview purchases back from Bacchus the right to
receive agency fees, and the rights to receive 5% of Payforview's gross
revenues from certain Payforview's acquisitions.
Payforview also acquires from Bacchus a 30% interest in the company
PEACE FROG PRODUCTIONS INC. Included in Peace Frog's production slate
for 1999 is a series entitled "THE ZEE TEAM", which has incurred over
$300,000 in development expenses. Expenditures to date include costs
for shooting the series pilot, and a 13 part documentary series dealing
with secrets of the Mediterranean, such as the Trojan War and Hercules,
which is being produced by TARA SHORT, award winning director/writer of
"STORM WARNINGS".
Payforview is pleased to announce the appointment of Penny Green,
previously President and CEO of Bacchus, to the executive team of
Payforview. Ms. Green is a lawyer with expertise in film financing
working at Lang Michener Lawrence & Shaw, a Canadian national law firm,
as a securities and entertainment lawyer. "Ms. Green, through Bacchus
Entertainment, has been instrumental in helping Payforview position
itself as a key player in the entertainment industry. Also impressive
are the assets she built up as President and CEO for Bacchus," says
Marc Pitcher, President of Payforview, "Her background in sales, law
and film finance make her a welcome and complementary member to the
executive team at Payforview." Penny Green's responsibilities as Vice
President, Programming and Production commence immediately.
PAYFORVIEW.COM PROCEEDS WITH 3 FOR 2 FORWARD STOCK SPLIT
The Company confirms that the Board of Directors will be
proceeding
with a 3 for 2 forward split of the common stock of the Company. The
Effective date for this forward split has been set for shareholders of
record on the close of business April 9, 1999. In order to receive
three new common shares for every two currently held, shareholders or
their investment brokers will be required to submit the old share
certificates to the Company's transfer Agent, Alexis Stock Transfer
(phone:(760) 773-9227), for conversion.
WALL STREET RESEARCH GROUP RECOMMENDS PAYFORVIEW A STRONG BUY The
WALL STREET RESEARCH GROUP, publishers of the "Wall Street Research
Report", listed payforview.com as a recommended buy. In describing the
strengths of payforview.com, Wall Street Research Group pointed to
strong content acquisition plans, highly anticipated technology joint
ventures and excellent diversification through record and film sales as
reasons to believe payforview.com is poised for excellent growth.
Marc Pitcher, payforview.com President, who will be attending the
upcoming DIGITAL ENTERTAINMENT SUMMIT in New York on March 24, 1999,
along side panelists from MICROSOFT (Nasdaq: MSFT) and the World
Wrestling Federation (WWF), says "The company is meeting its targets
and is building a solid base from which to become a premier provider of
filmed and audio entertainment on-line." "We are pleased to be
recognized for our growth to date, and for the value we've been able to
bring to our shareholders. Recommendations like this (from Wall Street
Research) help us to further our goals and continue work towards
becoming an Internet broadcast industry leader".
Other Internet broadcast companies include BROADCAST.COM (Nasdaq:
BCST) and VISUAL DATA CORP. (Nasdaq: VDAT). To view the Wall Street
Research report, go to
wallstreetresearch.net, or call Toll Free
in the USA 1-888-615-1145 to request a written report, which will be
mailed to you.
Payforview.com is an Internet based Entertainment Company which will
distribute movies, music, sports and live events direct to viewers on a
pay-for-view and retail basis. The Company is in the process of
acquiring content and creating programming and broadcasting
specifically for the Internet. Payforview is in the process of
preparing other content to allow website visitors to view sample
broadcast clips, catalogue content, and go to Payforview's various
divisions within the website for movies, live events, sports, education
and business. Additionally, Payforview.com intends to negotiate with
other content providers and distributors to acquire the Internet
broadcast and DVD rights to other video content.
ON BEHALF OF THE BOARD OF payforview.com Marc A. Pitcher President
CERTAIN INFORMATION INCLUDED IN THIS COMMUNICATION (AS WELL AS
INFORMATION INCLUDED IN ORAL STATEMENTS OR OTHER WRITTEN STATEMENTS
MADE OR TO BE MADE BY Payforview.com) CONTAINS STATEMENTS THAT ARE
FORWARD-LOOKING, SUCH AS STATEMENTS RELATING TO THE FUTURE ANTICIPATED
DIRECTION OF THE INTERNET INDUSTRY, PLANS FOR FUTURE EXPANSION, VARIOUS
BUSINESS DEVELOPMENT ACTIVITIES, PLANNED CAPITAL EXPENDITURES, FUTURE
FUNDING RESOURCES, ANTICIPATED SALES GROWTH AND POTENTIAL CONTRACTS.
THESE FORWARD STATEMENTS ARE SUBJECT TO A NUMBER OF KNOWN AND UNKNOWN
RISKS AND UNCERTAINTIES THAT COULD CAUSE ACTUAL OPERATIONS OR RESULTS
TO DIFFER MATERIALLY FROM THOSE ANTICIPATED.
-0-
TEL: 1-800-545-7214 Corporate Communications for payforview.com
TEL: 1-800-545-7214 Corporate Communications for payforview.co
FAX: (604) 688-9519
email: invest@payforview.com
web: payforview.com
______________________________
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