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RMD Entertainment Group's (RMDM) Update on the Share Structure and Reverse Split Dismissal
Nov 18, 2009 (07:11 AM EST)
BEIJING, Nov. 18 /PRNewswire-FirstCall/ - RMD Entertainment Group (RMDM, http://www.rmdmgroup.com ) wants to bring investors' attention to the two issues that keep reoccurring with the investors, namely the RMDM share structure and the issue of the reverse split.
The current RMDM share structure is such as stated on the Pink Sheets under the "Company Info". This structure is as follows: 9.8 Authorized, 6.9 billion Outstanding and 2.2 billion float.
Once again, the RMD Entertainment wants to dismiss any idea of the reverse split. This idea returned due to an inadequate electronic Chinese-to-English translation in the filling posted on Nov 13, 2009. The opening statement of this filling holds no true value to the investors. Further, the company had already issued three separate news releases on the reverse split issue. Namely, on Oct. 20 2009, the company rescinded its 1000-1 reverse stock split previously announced. In addition, on Oct. 21 2009, the company announced a "No Recapitalization and No Dilution Policy" to remain in effect until at least 2011; on Nov. 12 2009, the company repeated these statements again. The state of Nevada web site should update shortly as well.
RMDM apologizes for the translation error that had occurred and, as it's worth repeating, the "No Recapitalization and No Dilution Policy" remains in effect.
By this press release RMDM dismisses the idea of the reverse split once and for all and set the share numbers information straight. RMD Entertainment wants the shareholders to take note of the present developments within the company, namely United Liquor Alliance (ULA) joining RMDM and Innotrek's business activity in China, and realize that RMDM is on the verge of a major growth within the next four quarters.
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Safe Harbor Statement
Information in this news release may contain statements about future expectations, plans, prospects or performance of RMD Entertainment Group that constitute forward-looking statements for purposes of the Safe Harbor Provisions under the Private Securities Litigation Reform Act of 1995. The words or phrases "can be", "expects", "may affect", "believed", "estimate", "project" and similar words and phrases are intended to identify such forward-looking statements. RMD Entertainment Group cautions you that any forward-looking information provided by or on behalf of RMD Entertainment Group is not a guarantee of future performance. None of the information in this press release constitutes or is intended as an offer to sell securities or investment advice of any kind. RMD Entertainment Group's actual results may differ materially from those anticipated in such forward-looking statements as a result of various important factors, some of which are beyond RMD Entertainment Group's control. In addition to those discussed in RMD Entertainment Group's press releases, public filings, and statements by RMD Entertainment Group's management, including, but not limited to, RMD Entertainment Group's estimate of the sufficiency of its existing capital resources, RMD Entertainment Group's ability to raise additional capital to fund future operations, RMD Entertainment Group's ability to repay its existing indebtedness, the uncertainties involved in estimating market opportunities, and in identifying contracts which match RMD Entertainment Group's capability to be awarded contracts. All such forward-looking statements are current only as of the date on which such statements were made. RMD Entertainment Group does not undertake any obligation to publicly update any forward-looking statement to reflect events or circumstances after the date on which any such statement is made or to reflect the occurrence of unanticipated events.
Source: RMD Entertainment Group
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CONTACT: For any investor relations matters, please contactwww.minamargroup.net/helpdesk; Investor Relations Department Inquiry,www.minamargroup.net (IR); For (M&A) and Corporate Matters,www.minamargroup.com