LAS VEGAS, May 25, 2004 (PRIMEZONE) -- OBN Holdings, Inc. (OTCBB:OBNH) is pleased to announce that the NASD has approved trading in the company's shares on the OTC Bulletin Board effective May 21st. The company's shares will now be listed on the NASD OTC Bulletin Board under the trading symbol OBNH. "We are extremely pleased over this approval by the NASD," said Roger Neal Smith, CEO of OBN Holdings, Inc. "We are extremely pleased that the NASD has authorized the quotation of our stock on the OTCBB. Our stockholders and the investing public will now have the opportunity to buy and sell our shares through this efficient market."
About OBN Holdings
OBN Holdings, Inc., is a holding company for four wholly owned operating subsidiaries: Omni Broadcasting Network, Inc.; All Sports Television Network, Inc.; Eclectic Entertainment, Inc.; and Products on Demand Channel, Inc. Omni was created to function as a broadcast television network. All Sports Television was created as the only national broadcast sports television network. Eclectic was developed as a television and feature film Production Company, and the licensing and merchandising arm of the organization. Products On Demand was created to broadcast infomercials and other forms of paid programming.
Omni broadcasts programming targeted to adults 25 years of age and older, and children between 8 and 13 years of age. Programming is being aired on over-the-air, cable and satellite television stations throughout the U.S. and reaches approximately 40 million households. As of early September 2003, a program entitled The MovieTime Showcase was airing during primetime hours. Programs entitled Birdz and Flutemaster were airing primarily on Saturday and Sunday mornings. Omni broadcasts its programming six hours per week: from 8:00 p.m. to 10:00 p.m. Monday and Tuesday, and from 8:00 a.m. to 9:00 a.m. Saturday and Sunday (Eastern Standard Time). By the spring of 2004, Omni plans to begin increasing its broadcast hours, which will eventually result in a total of 32 hours per week: from 8:00 p.m. to 11:00 p.m. seven days per week, from 8:00 a.m. to 11:00 a.m. Saturday and Sunday mornings, and from 8:00 a.m. to 9:00 a.m. Monday through Friday. OBN is in discussions with program developers and producers in connection with the company's efforts to increase its broadcast hours.
The All Sports Television Network, which officially launches in the spring of 2004, is the only national sports television network that airs on broadcast television. The network will focus on sports and sports-related programming from sources throughout the world. All Sports' goal is to provide sports programming that American audiences rarely witness on television, as well as the more traditional sports on all levels. Initially, All Sports is scheduled to broadcast four hours a day, seven days a week.
Eclectic Entertainment, a television and feature film Production Company, produces The MovieTime Showcase, which is airing on Omni, and is developing The Mini Movie Hour, which is expected to begin airing in the spring of 2004. Eclectic is also developing The Vegas Variety Hour and The Adventures of Unit 28, which are scheduled to air on Omni by the summer of 2004. Eclectic is in the process of securing feature film properties for development and distribution, and expected to be in production of its first feature film by the winter of 2004. It is also developing Retro Records and Eclectic Recording Artists, two record distribution companies.
Products On Demand Channel uses the same satellite uplink as Omni, but broadcasts programming during the hours not used by Omni or All Sports. Products On Demand plans to reduce the number of infomercials aired to focus on programming developed by independent producers seeking an outlet on national broadcast television.
GENERAL INFORMATION
INCORPORATED in Nevada Jan. 23, 2003, to serve as the holding company for Omni Broadcasting Network, Inc. (organized in Delaware Jan. 17, 2001); All Sports Television Network, Inc. (organized in Nevada Dec. 9, 2003) Eclectic Entertainment, Inc. (organized in Nevada July 26, 2002); and Products On Demand Channel, Inc. (organized in Nevada Dec. 18, 2002).
OFFICERS: President, Chief Executive Officer, Roger Neal Smith; Chief Financial Officer, Larry Taylor.
DIRECTORS: Barry Allen; Anita L. DeFrantz; Dennis Johnson; Christine Ohama; Dennis Severson; Roger Neal Smith; Larry Taylor.
HEADQUARTERS: 8275 South Eastern Avenue, Suite 200, Las Vegas, NV 89123.
WEBSITE: http://www.obnholdings.com
For the latest SEC filings or past news releases, go to the company's website at www.obnholdings.com and click on the Media heading. Please direct any financial questions to Magellan Financial Media Group at (317) 867-2839.
OBN Holdings, Inc.: 8275 South Eastern Avenue, Suite 200, Las Vegas, Nevada 89123. (702) 938-0467.
This press release does not constitute an offer to sell or the solicitation of any offer to buy any securities of OBN Holdings, Inc., nor shall there be any sale of any such security in any state in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state. Forward looking statements: This press release and other statements by OBN Holdings may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act with respect to the outlook for earnings and revenues, other future financial or business performance, strategies and expectations. Forward-looking statements are typically identified by words or phrases such as "believe," "expect," "estimate," "potential," or future/conditional verbs such as "will," "should" and "could."