| Paradigm Music Entertainment Company | |||
| Proposed Ticker: | PMEC | 67 Irving Place North | |
| Exchange: | NASDAQ-Small Cap Market | New York, NY 10003 | |
| Industry: | Service (SIC Code 7929) | (212) 387-7700 | |
| Type of Shares: | Class A Common Shares | Filing Date: | 3/21/97 | |
| U.S. Shares Filed: | 2,600,000 | Filing Price: | $5.00 | |
| Non-U.S. Shares Filed: | 0 | Offering Amount: | $13,000,000 | |
| Primary Shares: | 2,600,000 | Expenses: | - | |
| Secondary Shares: | 0 | Shares Out After: | 6,423,342 |
| Manager | Tier | Phone |
| D.H. Blair & Co Inc. | Lead Manager | (212) 495-4306 |
| Issuer's Law Firm: | Bachner, Tally, Polevoy & Misher |
| Bank's Law Firm: | Paul, Hastings, Janofsky & Walker |
| Auditor: | Janover Rubinroit, LLC |
| Registrar/Transfer Agent: | American Stock Transfer & Trust Co |
Dollar amounts in U.S. millions except for per share data | |||||
| Full Year Audited Income | Latest Unaudited Income | Prior Unaudited Income | Balance Sheet | ||
| 12/31/96 | 12/31/96 | ||||
| Revenue: | $0.03 | Assets: | $0.63 | ||
| Net Income: | -$2.40 | Curr Assets: | |||
| EPS: | -$1.15 | Liabilities: | $0.53 | ||
| Prior EPS: | -$0.06 | Curr Liabilities: | |||
| Cash Flow/Oper: | Equity: | $0.10 | |||
| Cash Flow/Fin: | Cash: | ||||
| Cash Flow/Inv: | |||||
| Business Description |
| The company is a development stage company with a limited operating history, having commenced operations in November 1995. The company's objective is to become a broad-based music entertainment company producing and distributing prerecorded music products of both new artists and catalog reissues of established recording artists, recruiting and developing new recording artists and developing non-traditional syndicated music entertainment programming, such as original content interactive programming on the Internet. The company intends to utilize traditional and non-traditional marketing and distribution channels, such as Online services, interactive media and syndicated radio and cable television, in order to cost effectively exploit the music entertainment rights which it may develop or acquire and which could made available to third parties on a fee basis. |
| Use of Proceeds |
| The proceeds from the proposed offering will be used for operating funds for SonicNet; catalog acquisitions; acquisitions of complementary businesses, including Independent Labels; artist advances; repayment of notes issued pursuant to the Bridge Financing; working capital and general corporate purposes. |