ORLANDO, Fla., July 5, 2005 (PRIMEZONE) -- Raven Moon Entertainment, Inc. (OTCBB:RVNM) is pleased to announce that it will be restructuring its stock with a 1000 to 1 reverse split with an effective date of July 15, 2005.
The share restructuring comes after the SEC approved an SB-2 filing which will give the company the ability to receive as much as $3,000,000 in new financing from MG Studios in order to complete the production of 39 GINA D'S KIDS CLUB programs by September 2006.
The $3,000,000 from MG Studios is in addition to the $2.65 million it had given Raven Moon to complete 18 episodes of GINA D'S KIDS CLUB. MG Studios has extended the additional $3,000,000 of financing to Raven Moon Entertainment based on the company's good standing with its payments on the previous $2.65 million in financing that the company received over a year ago.
The board believes the restructuring will allow the company to recapitalize and believes the company is currently undervalued based upon a film library of 24 completed half hour episodes, 140 produced music videos and licensing rights to toys and characters seen on the "GINA D'S KIDS CLUB" programs airing every week nationwide on 155 television stations throughout the U.S.A.
For Syndication information call Len Koch at Role Entertainment (201) 568-4800.
For company information contact 1-866 THE APPL(E) or www.ravenmoon.net.
Safe Harbor Act Notice: This release may contain forward- looking statements that involve risks and uncertainties, including without limitation, acceptance of the company's products, increased levels of competition, product and technological changes, the company's dependence upon financing and third- party suppliers, and other risks detailed from time to time in the company's federal filings, annual report, offering memorandum, or prospectus. Specifications are subject to change without notice.