ORLANDO, Fla., July 25, 2005 (PRIMEZONE) -- Raven Moon Entertainment, Inc. (OTCBB:RVMN) announced today that it is continuing to restructure by ending its contract with Big Apple Consulting USA, Inc. that was filed in the company's SB-2 registration with the SEC that went effective on June 8, 2005. As a result of this restructuring Raven Moon will save 10 months of registered SB-2 stock and option payments which will be retired.
The company will begin to interview candidates for the investor relations position that will be filled in August as it continues its restructuring plan.
Recently the company announced that it will issue a $0.25 warrant dividend to all shareholders of record as of August 19, 2005.
In an interview for www.wallst.net that will air on Tuesday July 26, 2005, company CEO Joey DiFrancesco stated, "The company started from scratch in 1999 and now has a video library of 24 half-hour GINA D'S KIDS CLUB(r) television programs and 140 SING ALONG WITH GINA D(r) music videos on 162 television stations (approximately 79 percent of the U.S.) that are completely paid for, which means that the company is debt-free and ready to begin negotiations with DVD distributors. No one said that this would be easy and many industry observers have told us that what we have accomplished is impossible, but our integrity, our good name, our creativity and our passion to succeed is what we bring to the table. We listen to our shareholders and we will be here for them until the job is done."
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