At .35/.42 per share there may be an opportunity here but do your own dd...this release today and a few priors:
(COMTEX) B: Recovery Network, Inc. to Launch Aggressive E-Commerce In
B: Recovery Network, Inc. to Launch Aggressive E-Commerce Initiative
SANTA MONICA, CALIF. (May 7) BUSINESS WIRE -May 7, 1999-- RNet
Direct, The Company's Book & Tape Division, To Significantly
Expand Product Catalogue And Offer To On-Line Consumers
Recovery Network, Inc. (OTC BB:RNET) today announced that the Company
is launching an aggressive e-commerce initiative via its web site,
www.recoverynetwork.com, whereby an extensive catalog of behavioral
health books and tapes will be offered for purchase by on-line
consumers. Previously, Rnet Direct marketed a limited library of books
and tapes (in traditional non-online forms) primarily to institutional
groups, which has resulted to date in nearly $1.2 million in annual
sales revenue to the Company. Recovery Network will market the site
with heavy promotional rotation of its web address on its cable
television network.
According to Bill Moses, Chairman and Chief Executive Officer of
Recovery Network: "The expansion of our product offerings - from
current institutional customers to individuals seeking resources and
tools to help address many behavioral health disorders - represents a
opportunity to realize an immediate, incremental increase in revenues.
The E-commerce initiative is expected to provide the Company the
revenue required to achieve profitability. In light of the fact that
our television network will play a major role in elevating awareness of
our site and increase traffic specifically to our on-line book store,
we believe that we will enjoy immediate benefits from this marketing
initiative."
Continuing, Moses added: "Having successfully developed the television
network provides us significant operating leverage for our Internet
business and in the development of associated online strategic
relationships. Wall Street has recognized that convergence of cable and
the Internet is the current leading industry trend, Recovery Network
may be uniquely positioned to capitalize on this opportunity." About
Recovery Network
The Recovery Network is a digital media company utilizing its cable
television network currently being delivered to approximately 5 million
U.S. households providing social and behavioral health programming,
products and services to a national audience. The Recovery Television
Network will serve to market and drive traffic to the Company's web
site, thereby enhancing revenue generation opportunities via book and
tape sales, tele-counseling services, and other behavioral health
programming, services and products ideally suited to its target
audience. The Company's primary market is those impacted by social and
behavioral problems (i.e. substance abuse, domestic violence,
depression, eating disorders and child abuse, etc.) that effect 100
million Americans at a cost to the economy in excess of one-half
trillion dollars annually in increased health care expenses, crime and
lost productivity. Recovery Network's National Partnership for Recovery
and Prevention (NPRP) consists of over 50 prominent national health,
recovery and prevention organizations that represent over 40 million
people throughout the United States.
The Company recently announced its intent to effect a corporate name
change to RnetHealth.com, Inc., subject to shareholder approval.
Information on the Company may be found on the Internet at
www.recoverynetwork.com. The URL/web site is also expected to be
changed to www.RnetHealth.com.
Safe Harbor Statement under the Private Securities Litigation Reform
Act of 1995: The statements which are not historical facts contained in
this press release are forward-looking statements that involve certain
risks and uncertainties including but not limited to risks associated
with the uncertainty of future financial results, additional financing
requirements, development of new products, government approval
processes, the impact of competitive products or pricing, technological
changes, the effect of economic conditions, and other uncertainties
detailed in the Company's filings with the Securities and Exchange
Commission.
-0- pp/mi*
CONTACT: Recovery Network, Inc., Santa Monica
Bill Moses, Chairman
310/393-3979
or
Continental Capital & Equity Corp., Longwood, Fla.
Dodi Zirkle, 407/682-2001
dodi@insidewallstreet.com
KEYWORD: CALIFORNIA
INDUSTRY KEYWORD: COMED COMPUTERS/ELECTRONICS
INTERACTIVE/MULTIMEDIA/INTERNET ENTERTAINMENT MEDICINE 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 ***
Recovery Network Inc. Finalizes Cash and Stock
Payment to CBS Corp.
SANTA MONICA, Calif.--(BUSINESS WIRE)--May 4, 1999--Recovery Network Inc.
(OTC BB:RNET - news) Tuesday announced that it has successfully concluded the
previously disclosed transaction with Group W Network Services (GWNS), a division of CBS Corp. (NYSE:CBS - news)
whereby GWNS has accepted cash and CBS Corp. has taken ownership of 500,000 common shares of RNET in exchange
for satisfying a pre-existing financial obligation due GWNS by Recovery Network.
Furthermore, the parties have agreed to amend the terms and conditions of their satellite services agreement, thereby reducing
Recovery Network's monthly fees by 40%.
Bill Moses, chairman of Recovery Network Inc. stated: ''We are grateful we have been able to work out a mutually
satisfactory resolution of the outstanding issues between Group W and Recovery Network. We are particularly pleased that we
will be staying with Group W in view of the outstanding level of service that Group W has consistently provided in the past. We
believe that this represents a win-win situation for all involved and positions Recovery Network to move rapidly forward with
the implementation of our new business plan.''
About Recovery Network
The Recovery Network is a digital media company utilizing its cable television network currently being delivered to
approximately 5 million U.S. households providing social and behavioral health programming, products and services to a
national audience. The Recovery Television Network will serve to market and drive traffic to the company's web site, thereby
enhancing revenue generation opportunities via book and tape sales, tele-counseling services, and other behavioral health
programming, services and products ideally suited to its target audience. The company's primary market is those impacted by
social and behavioral problems (i.e. substance abuse, domestic violence, depression, eating disorders and child abuse, etc.) that
effect 100 million Americans at a cost to the economy in excess of one-half trillion dollars annually in increased health care
expenses, crime and lost productivity. Recovery Network's National Partnership for Recovery and Prevention (NPRP)
consists of over 50 prominent national health, recovery and prevention organizations that represent over 40 million people
throughout the United States.
The company recently announced its intent to effect a corporate name change to RnetHealth.com Inc., subject to shareholder
approval. Information on the company may be found on the Internet at www.recoverynetwork.com. The URL/web site is also
expected to be changed to www.RnetHealth.com.
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: The statements which are not historical facts
contained in this press release are forward-looking statements that involve certain risks and uncertainties including but not
limited to risks associated with the uncertainty of future financial results, additional financing requirements, development of new
products, government approval processes, the impact of competitive products or pricing, technological changes, the effect of
economic conditions, and other uncertainties detailed in the Company's filings with the Securities and Exchange Commission.
Contact:
Recovery Network, Inc., Santa Monica
Bill Moses, Chairman, 310/393-3979
or
Continental Capital & Equity Corp., Longwood, Fla.
Dodi Zirkle, 407/682-2001
dodi@insidewallstreet.com
Recovery Network, Inc. to Change Name to
RnetHealth.com
Cable TV Network to Market and Drive Traffic to Internet Providing
E-Commerce Opportunities
SANTA MONICA, Calif.--(BUSINESS WIRE)--April 30, 1999-- Recovery Network, Inc. (OTC BB:RNET - news) today
announced its intent to change the Company's corporate name to RnetHealth.com, subject to shareholder approval. The new
name will more closely reflect the Company's focus on its Internet business and the associated e-commerce opportunities.
Recovery Network further expects that its television network, currently reaching approximately 5 million U.S. cable
households, will serve to market and drive traffic to the web site, thereby enhancing revenue generation opportunities via book
and tape sales, tele-counseling services, and other behavioral health programming, services and products ideally suited to its
target audience.
The Company recently announced, as part of its restructuring effort, that it received back 100% interest in the web site,
www.recoverynetwork.com, along with cash and other considerations, and was freed to pursue its own web-based business.
With this site - which also shall be renamed as www.RnetHealth.com - serving as the Company's core operational focus,
Recovery Network plans to significantly upgrade this site in order to initiate a series of strategic and complementary businesses
designed to create new revenue streams and profit-earning opportunities for the Company. Additionally, the Company noted
that Recovery Television Network will become a wholly owned subsidiary of RnetHealth.com and will continue its affiliate sales
and marketing efforts to advance its reach into more homes over the course of the year.
The Company expects to leverage its cable distribution as well as cable's latest broadband and television based on-line services
being deployed by the cable industry to enable RnetHealth.com to offer - via broadband - the most technologically advanced,
video-rich, Internet content available on the web. RnetHealth.com will expand its Internet offerings to include state-of-the-art
assessment tools, on-line expert information sessions and an extensive clinically-oriented library of information and treatment
options.
In addition, the Company intends to develop an additional web-based commercial site tailored to health plans and employers as
an augment to current Employee Assistant Programs (EAP) in addition to the public site directed to individuals seeking
information or counseling services over the Internet. The commercial site is supported by mass subscriptions through EAP
suppliers who serve employers, health plans and various government, university and other payees on a per month per user
basis. The public site emphasizes community, chat, forums, information and interaction and is supported by ad revenue and
e-commerce transactions.
About Recovery Network
The Recovery Network is a digital media company utilizing its cable television network currently being delivered into
approximately 5 million U.S. households, Internet and telephony platforms to provide social and behavioral health
programming, products and services to a national audience. The Company's primary market are those impacted by social and
behavioral problems that effect 100 million Americans at a cost to the economy in excess of one-half trillion dollars annually
increased health care costs, crime and lost productivity. Recovery Network's National Partnership for Recovery and
Prevention (NPRP) consists of over 50 prominent national health, recovery and prevention organizations that represent over 40
million people throughout the United States. Information on the company may also be found on the Internet at
www.recoverynetwork.com.
Recovery Network, Inc. Secures 100% Interest in
Internet Business - recoverynetwork.com
SANTA MONICA, Calif.--(BUSINESS WIRE)--April 28, 1999--Recovery Network,
Inc. (OTCBB: RNET - news) today announced that it has reached a definitive settlement
with TCI Online RN Holdings, Inc. and FHC Internet Services, L.C., whereby Recovery Network has received back 100%
interest in the Internet website RecoveryInteractive and its URL www.recoverynetwork.com, along with an undisclosed amount
of cash. The Company previously held only a 20% interest in the Internet venture and was encumbered by an exclusive
licensing agreement. Upon the mutually agreeable termination of the Company's interest in the venture, the licensing agreement
and certain other agreements, Recovery Network is now free to pursue fully an e-commerce business opportunity for its own
account and to consolidate its Internet business going forward. The Company intends to release further details of the
Company's Internet business shortly.
|
