AFAO.pk (.0004)AFA Music Group Generates $135,000 in October Advances
Market Wire "US Press Releases "
WHITE PLAINS, NY -- (MARKET WIRE) -- 11/01/07 -- AFA Music Group, Ltd. (PINKSHEETS: AFAO) is pleased to announce it has generated approximately $135,000 in record company advances in October 2007. The advances funded projects for two of AFA's recording artists: Taxi Doll and The Audio Club. In the past year, each group has benefitted from sales of discs and digital downloads, and both have received considerable exposure in music industry publications.
AFA Music Group has represented both groups for more than a year, with each signed to contracts with different record companies. Taxi Doll bridges the gap between pop rock and electronic music, often referred to as "Rocktronica." The Audio Club is comprised of Brooks Buford, Ashley Alan-Lee and producer singer/songwriter Tommy Henriksen, who is also the senior vice president of AFA Music Group.
"We are very proud of both artists and tremendously excited about their careers," stated Jon Goldwater, President and CEO of AFA Music Group, Ltd.
The Audio Club's lead singer, Ashley Alan-Lee, was featured in the September issue of Spin Magazine. "Be With You," a song by Taxi Doll, has climbed Billboard's Hot Dance Club Play chart to number 13 after only six weeks of national airplay. The chart position was announced for the week of October 27, 2007.
About AFA Music Group, Ltd.:
AFA "Artists for Artists" is a talent development and management agency. Since being founded in 2005, and based on its philosophy, AFA has attracted a roster of 10 "major-quality" recording artists. AFA Music Group plans on simultaneously acquiring various music-publishing assets and to begin developing its own catalogue of artists and albums. AFA retains equity positions with all of its artists, which include all income streams that are generated by these artists. These income streams include recording royalties, merchandise, sponsorship, touring, music publishing, Internet downloads and ringtones.
Safe Harbor: Statements regarding financial matters in this press release other than historical facts are "forward-looking statements" within the meaning of section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934, and as that term is defined in the Private Securities Litigation Reform Act of 1995. The Company intends that such statements about the Company's future expectations, including future revenues and earnings, technology efficacy and all other forward-looking statements be subject to the safe harbors created thereby. The Company is a development stage company who continues to be dependent upon outside capital to sustain its existence. Since these statements (future operational results and sales) involve risks and uncertainties and are subject to change at any time, the Company's actual results may differ materially from expected results.
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