RMDG News! Running of the BULLS!
RMD Entertainment Closes Regulation D Offering
Wednesday, August 23, 2006 09:40 ET
PHILADELPHIA, PA -- (MARKET WIRE) -- 08/23/06 -- RMD Entertainment Group (PINKSHEETS: RMDG) announced today that it has closed its Regulation D, Rule 504 offering and is no longer selling shares of its common stock to accredited investors. A Form D is being filed with the Securities and Exchange Commission this week, disclosing that the company has raised $990,000 in the offering over the past twelve months. The limit to any such offering is $1 million per year.
RMD CEO Giorgio Costonis commented, "The company had to complete the offering in order to facilitate our recent transition from a company in the early stages of development, to a viable corporate entity developing, distributing and selling merchandise to the masses across virtually all retail channels." Costonis added, "We rapidly matured the day our first 'bricks and mortar' project, Block Star DVD Magazine, became available on traditional retail shelves and we are expecting a substantial growth spurt when Roc Monee's album hits the shelves in the near future. We are so grateful to those who stood by us and shared our vision for success. All of our projects have been nurtured to perfection and from this point forward we expect to penetrate the global market on a whole new level, working hand in hand with the best retail outlet chains and digital distributors that the world has to offer. I made it my personal mission to make RMDG the number one hip hop company in the world by weaving an unbreakable fabric of solid corporate practices, uncommon work ethic, hot urban product development, integrity, and a unique understanding of the role that technology plays now and in the future in our business platforms. I remain both committed and confident that we will achieve this goal."
