WEHI CEO stated the following: "It is anticipated that WGL Entertainment Holdings, Inc. share value will rise to approximately 20 cents after the buyback is completed. With no convertible debt outstanding, stock dilution will stop completely and our shares can trade on pure market fundamentals," said Mike Pagnano, CEO WGL Entertainment Holdings, Inc. Mr. Pagnano went on to say that equity financing is being arranged for the production of MDSO II in the amount of $1.7 Million and will not be tied to the company stock. The investor group will become a minority partner in the revenue stream of the Online Golf Challenge and MDSO II. "We have a very solid plan in place to stabilize our price per share and reward our loyal shareholders who have stayed the course over the past four years."
WGL Entertainment Holdings, Inc., through its subsidiary WGL Entertainment, is the producer of the WGL Million Dollar Shootout Reality Television Series and several other made-for-T.V. sports entertainment events scheduled to be produced in 2008 and beyond.
To the extent that statements in this press release are not strictly historical, including statements as to revenue projections, business strategy, outlook, objectives, future milestones, plans, intentions, goals, future financial conditions, future collaboration agreements, the success of the Company's development, events conditioned on stockholder or other approval, or otherwise as to future events, such statements are forward-looking, and are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. The forward-looking statements contained in this release are subject to certain risks and uncertainties that could cause actual results to differ materially from the statements made.
