July 28, 1999, Wednesday
SECTION: Financial News
DISTRIBUTION: TO BUSINESS EDITOR
LENGTH: 420 words
HEADLINE: Genesis Media Group, Inc. Completes Merger with Open Door Records, Inc.
DATELINE: LOS ANGELES, July 28
BODY:
Genesis Media Group, Inc., (OTC Bulletin Board: GNNX) announced, effective today, that it has completed a Stock Exchange Agreement with Open Door Records, Inc. whereby the Company becomes a wholly owned subsidiary of Genesis. The Company is changing its name to Open Door Online, Inc. and a new trading symbol will be forth coming. In addition, a new Board of Directors has been elected, the audited financial statements for 1998 were approved and new corporate officers have been appointed.
Open Door Online is a multi-faceted Internet entertainment company specializing in the sale and distribution of music and music related products. This includes promoting its own artists and record label (Open Door Records), a state of the art recording studio (Open Door Studios) and a multimedia Internet web site (Open Door Music) that currently has access to approximately 250,000 CD’s with over 500,000 sound samples all incorporated into a unique search engine that helps customers to navigate its web site at www.OpenDoorMusic.com. Later this year the Company plans to offer MP3 which will provide secured digitally distributed music over the Internet and expects this segment of its business to grow significantly. In addition, the Company plans to open an Internet broadcasting facility (Open Door Productions) which will offer a broad range of unique video and audio programming including live and recorded concerts, live interactive interviews and classic concerts. Incorporated into all of its activities, the Company plans to develop a series of special web sites devoted to supplying wholesome entertainment for children.
“Safe Harbor” Statement under the Private Securities Litigation Reform Act
of 1995: The statements contained in this release which are not historical
are forward-looking statements that are subject to risks and uncertainties
that could cause actual results to differ materially from those expressed in
the forward-looking statements, including, but not limited to, certain delays
beyond the company’s control with respect to market acceptance of new
technologies and products, delays in testing and evaluation of products, and
other risks detailed from time to time in the Company’s filings with the
Securities and Exchange Commission.
Please visit the company’s Website at www.OpenDoorMusic.com.
For further information contact Investor Relations at (310) 665-0221
SOURCE Genesis Media Group, Inc.
CONTACT: Genesis Media Group, Inc. Investor Relations, 310-665-0221