LOS ANGELES, Sep 07, 2007 (BUSINESS WIRE) --
Family Room Entertainment Corporation (OTCBB:FMLY) is pleased to announce that it has reinstituted its stock buy-back program. On September 6, 2007 FMLY bought-back in excess of 5,500,000 shares of common stock at a price per share of $0.0006.
As stated previously, the purchases may be made, from time to time, on the open market in compliance with Rule 10b-18 and will be funded from available working capital. The number of shares to be purchased and the timing of the purchases will be based on the level of cash balances, general business conditions and other factors, including alternative investment and/or filmed entertainment opportunities.
About Family Room Entertainment:
Family Room Entertainment Corporation, with its subsidiaries, Emmett Furla Films Productions ("EFFP"), Emmett Furla Films Distribution ("EFFD") and EFF Independent (EFFI"), is a publicly held company trading on the NASDAQ Bulletin Board under the symbol "FMLY". Family Room Entertainment develops, produces and performs production related services for the entertainment industry. Family Room Entertainment's goal, through EFFI and EFFP, is to facilitate relationships (and as such, provide production related services) between creative talent (including writers, actors and directors) and companies who produce, finance and distribute motion pictures. FMLY derives its income from producer fees, production consulting and service fees and royalties as well as participation in the profits, if any, of certain of the pictures it produces.
The FMLY co-founders, Randall Emmett and George Furla, believe that they have the expertise and contacts within the entertainment industry, specifically in the competitive development, production and distribution arenas, to profitably acquire content, package product by adding value to the content with top quality talent and arrange with third parties to produce and finance motion pictures which are in the moderate to higher level budgets, which can be distributed by those with the expertise to effectively do so to a mass worldwide audience. However, there is no assurance that any motion picture, which has not yet been released, will be released, that a change in the scheduled release dates of any such films will not occur or, if such motion picture is released, it will be successful.
Forward Looking Statement:
Safe Harbor: Statements contained in this news release, which is not historical facts, are forward-looking statements as that are defined in the Private Securities Litigation Reform Act of 1995. Such forward-looking statements are subject to risks and uncertainties, which could cause results to differ materially from those projected.
This news release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 (the "ACT"). In particular, when used in the preceding discussion, the words "plan," "confident that," "believe," "expect," "intend to" and similar conditional expressions are intended to identify forward- looking statements within the meaning of the ACT and are subject to risks and uncertainties, and actual results could differ materially from those expressed in any forward-looking statements. Such risks and uncertainties include, but are not limited to, market conditions, competitive factors, the ability to successfully complete additional financings and other risks.
SOURCE: Family Room Entertainment Corporation
Family Room Entertainment Corporation IR Contact: M. Dal Walton, III 323-993-7317 ir@fmlyroom.com
Copyright Business Wire 2007
