ORLANDO, Fla., Dec. 15, 2003 (PRIMEZONE) -- Club House Videos Inc. announced today that its Form 10 is effective. The Form 10 will allow Club House to apply for a symbol and begin trading in the near future. The company has already selected a market maker to file the 15c211 which will allow the company to begin trading on the public markets.
Club House Videos Inc. markets and distributes children's videos, DVDs, and CDs. The company was formed due to a spin off from Raven Moon Entertainment Inc. (OTCBB:RVNM). According to their agreement, Raven Moon shareholders of record received 1 share of Club House Videos for every 100 shares they owned by the record date. Club House Videos also received exclusive rights to distribute "Gina D's Kids Club" videos, DVDs, and CDs for from Raven Moon Entertainment for $300,000 per video/episode and $100,000 per music CD plus 10% of the gross revenue from sales. Club House Videos has already acquired 10 "Gina D's Kids Club" products.
"Based upon our negotiations with the other major distributors and retailers, we anticipate the video and CD rights to 'Gina D's Kids Club' will be extremely valuable once the program gains acceptance on television. Our ability to buy these rights prior to nationwide exposure is substantial considering the millions of dollars other distributors pay for the same rights to children shows like 'Barney', the 'Wiggles', and 'Jay Jay the Jet Plane'" commented Dave Mouery, Club House Videos Inc. CEO.
Raven Moon recently announced that it's "Gina D's Cuddle Bug Christmas Special" is expected to reach an audience of more than 150 million viewers on PAX Television, Direct TV and LESEA Broadcasting Nationwide. The "Gina D's Cuddle Bug Christmas Special" is scheduled to air on PAX Sunday, December 21 at 5:30 pm. The Christmas Special will reach over 33,000,000 households across the country and approximately 11.2 million Direct TV subscribers as well as a number of LESEA Broadcasting and independent station households. The "Gina D's Cuddle Bug Christmas Special" will be in over 210 markets nationwide including New York, Los Angeles, Chicago, Philadelphia, San Francesco, Boston, Dallas, Washington D.C., Atlanta, and Detroit.
"Gina D's Kids Club" products are only available through Club House Videos Inc. Visit www.clubhousevideos.com for details.
For Club House Videos Inc. investor information call 1-866-THE-APPLE or 1-866-843-2775 or Marc Jablon at (407) 877-5952 for Raven Moon Entertainment, Inc.
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.