Kaboom Stocks: AFA Music Group, Ltd., (AFAO.PK) - Newly Acquired

AFA Music Group, Ltd., (AFAO.PK) - Newly Acquired
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Bill on 26 March, 2008 11:52:00
 
About AFA Music Group, Ltd.:
AFA Music Group is a talent development and management company. It discovers,
develops, and secures a recording contract for the artists. AFA has attracted a
strong roster of "major-quality" recording artists. AFA Music Group plans on
simultaneously acquiring various music-publishing assets and to begin developing
its own catalogue of artists and albums. AFA Music Group was founded in 2005 and
is based in White Plains, New York.
Recent significant events:
On March 13, 2008 - AFA Music Group, Ltd. announced that the release of the
Sincere single is now supported by calls to radio. These calls keep a song in
the minds of radio station music directors, who decide the daily play schedules
for their stations. The objective of calling on the station is to get the
Sincere single added to their play list. The personal touch of station calls
significantly increases a records visibility.
On March 11, 2008 - AFA Music Group, Ltd. has released the Sincere single
"Never Say" to radio on Monday, March 10, 2008. The release is AFA's first since
it has transitioned from a management and production company into a digital
based record label. AFA founder Tommy Henriksen produced the recording with
Sincere in the Los Angeles studios. AFA owns the master recoding. This first
release by an AFA signed artist is a milestone for the AFA, elevating AFA to a
significantly more profitable record label status. The release positions AFA to
be on par with the other entertainment giants such as Universal, Sony or Warner
Bros Records.
On Feb 13, 2008 AFA Music Group Ltd. announced that its ArtistForArtist digital
music label Web site is now live at Artists For Artists |. The online venue
opens streams of revenue for the Company in the form of sales from music
downloads, ring tones, merchandise and memberships to its social network. The
Web site also exposes all of AFA Music Group's artists to the public from one
source, creating a destination for their fans and aspiring musicians. AFA Music
Group's artists have contributed their own biographies, photos and artwork to
the Web site, and traffic is expected to increase exponentially in the coming
weeks because of new song and video releases. The Company will also be securing
the services of a digital music distributor and marketing firm to promote the
Company and its artists.
On Feb 06, 2008 AFA Music Group, Ltd. announced that they have posted their
post merger financial results for period ending December 31, 2007. AFA Music
Group went public via their merger with Super Pro Vending Group in October 2007.
Prior to the merger AFA Music Group's artist under contract generated revenues
of $2,250,000. Management fees and royalties earned by the AFA, associated with
artist revenues, were $865,000 and earnings before taxes were $745,000. Post
merger, the AFA Music Group posted income of $27,000 and a net loss of just
($82,945). The Company posted Total Assets of $613,000.
On January 7, 2008 the members of AFA Music Group, Ltd. management team have
purchased 20 million shares as part of the stock buyback announced on September
26, 2007. At that time, AFA’s Board of Directors authorized a buyback of up to
100 million shares of common stock through open market purchases as permitted by
securities laws and other legal requirements.
On Nov 7, 2007, AFA Music Group Ltd. announced that the Company has appointed
Don Perry as the head of its new Advisory Panel. Mr. Perry has more than 30
years of experience in the entertainment industry, including artist management,
product distribution and marketing with major record labels worldwide. Mr. Perry
is a consultant for Greenberg Traurig, LLP, one of the nation's preeminent,
full-service entertainment law practices. The Company will utilize Mr. Perry's
skills and influence on all aspects of the music business, particularly in its
management and acquisition strategy. AFA Music Group's Advisory Panel will serve
the Company on a consulting basis, with members from various segments of the
entertainment industry offering their expertise. Mr. Perry will act as head of
the panel and utilize his years of experience to advise the Company and lend a
veteran voice to all aspects as the Company develops and grows.
On Oct 27, 2007 AFA Music Group Ltd. announced that the company is planning to
launch its own full-service digital music label in early 2008. The label will
encompass all aspects of a traditional record label including music
distribution, marketing, publishing and merchandising. This endeavor will enable
AFA Music Group to maximize revenues from its ownership in the master
recordings. AFA Music Group plans to launch the label in the first quarter of
2008 and make music downloads, merchandise, art work, photos, and other artist
information available through the Company's Web site, Artists For Artists |. At
that time, the Company will announce additions to its roster of artists and
simultaneously launch an aggressive marketing campaign, both domestically and
internationally, to promote the label and the artists.
Safe Harbor: Statements regarding financial matters in this press release other
than historical facts are "forward-looking statements" within the meaning of
section 27A of the Securities Act of 1933, Section 21E of the Securities
Exchange Act of 1934, and as that term is defined in the Private Securities
Litigation Reform Act of 1995. The Company intends that such statements about
the Company's future expectations, including future revenues and earnings,
technology efficacy and all other forward-looking statements be subject to the
safe harbors created thereby. The Company is a development stage company who
continues to be dependent upon outside capital to sustain its existence. Since
these statements (future operational results and sales) involve risks and
uncertainties and are subject to change at any time, the Company's actual
results may differ materially from expected results.
CONTACT:
AFA Music Group
Jon Goldwater
30 Glenn Street
White Plains, NY 10603
Artists For Artists |
Phone: 914-686-7100
Fax: 914-686-4085
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