HOLLYWOOD, Feb. 14, 2005 (PRIMEZONE) -- Film and Music Entertainment, Inc. (Pink Sheets:FLME), a publicly traded Hollywood-based independent film producer and distributor, announced it filed Form 10-SB with the Securities and Exchange Commission today and is seeking to become an SEC-registered company under Section 12 of the 1934 Act. A copy of the filing can be viewed at www.sec.gov in the Company Filings section of the SEC webpage. A copy of the filing is also available on the company's web site, www.famefilm.com.
The initial Form 10-SB filing will be subject to review and comment by the Staff of the SEC and will be amended during the next few months in response to these comments and to reflect current developments. The initial Form 10-SB filing contains the audited financials for the years 2002 and 2003 and the unaudited nine months ending September 30, 2004. Lawrence Lotman, V.P. Finance stated that the Company anticipates it will have the audited 2004 year end completed by the time any comments are received back from the SEC.
Film and Music Entertainment is an independent entertainment production and distribution company, which emphasizes high quality, moderate cost, theatrical feature films and television projects.
Statements included within this press release that are not historical in nature constitute forward-looking statements for the purpose of the safe harbor provided by the Private Securities Litigation Reform Act of 1995. Investors are cautioned that this press release contains certain such forward-looking statements that involve substantial risks and uncertainties. When used, the words "anticipate", "believe", "estimate", "expect", and similar expressions as they relate to the Company or its management are intended to identify such forward-looking statements. There can be no assurance that the Company will be able to market, sell or deliver successfully its services inside or outside the United States, given risk factors including but not limited to unexpected changes in regulatory requirements, export restrictions, tariffs and other trade barriers, longer payment cycles, and fluctuations in currency exchange rates, any of which could adversely affect the Company's operations. There can be no assurance that one or more of these factors will not have a material adverse affect on the Company's current or future operations and consequently, on the Company's business, results of operations, and financial condition.