Last PR March-9th "2005" 10.5 weeks ago read below
Michelex Merges with Hindsight Records
Wednesday March 9, 7:05 am ET
MASSENA, N.Y.--(BUSINESS WIRE)--March 9, 2005--Michelex Corporation ("Michelex") (OTCBB:MLXO - News) announces that it has completed the acquisition of Hindsight Records Inc ("Hindsight"), a Californian Corporation located in Massena, New York. Hindsight owns over 9,000 copyrights and masters, some of which are sold at Amazon.com and other stores nationally. Michelex acquired all of the capital stock of Hindsight in exchange for 100,000 shares of Michelex common stock and an $800,000 promissory note in favor of Hindsight selling stockholder and assumption of certain obligations of Hindsight under the convertible debentures in the aggregate principal amount of $1,000,000.
Thomas Gramuglia C.E.O of Michelex, states, "This acquisition fits right into the media division of Michelex and should help secure funding to continue operations and work on growth for the company."
ABOUT HINDSIGHT:
The Hindsight catalog was created originally by the late Wally Heider - who specialized in studio recordings and the music of the Big Band era.
Gramuglia acquired the Hindsight catalog from Heider in 1979 - and began an immediate expansion of releases from the music of the 40's through the 60's, featuring Artie Shaw, Duke Ellington, Les Brown, Harry James, Woody Herman, Count Basie, Benny Goodman, Jimmy Lunceford, Doris Day, Rosemary Clooney, Kay Starr, Johnny Mercer, Stan Kenton, Lionel Hampton, Benny Carter, Glen Gray, Eddy Howard, Jimmy Dorsey, Claude Thornhill, Dick Jurgens, Freddy Martin, Russ Morgan, Buddy Morrow, Bob Crosby, Jerry Gray, Helen Forrest, Mel Torme, Frankie Laine, Helen O'Connell, June Christy, Jan Savitt, Charlie Spivak, Billy Butterfield, Sarah Vaughn, Bobby Troup, Alvino Ray, the King Sisters with Frank DeVol, Tiny Hill, Sammy Kaye, Clyde McCoy, Jan Garber, Larry Clinton/ Bea Wain, Charlie Barnet, Carmen McRae, Henry Busse, Lester Lanin, Guy Lombardo, and others. Gramuglia's technical staff - made certain of the sound quality - before approval of these select records being issued in CD or other formats.
Hindsight's Massena headquarters warehouses all products - and acts as the control center for all business transactions. In releasing the Big Band era product, Gramuglia made certain of authentic - in-depth liner notes by securing the services of established music writers such as Dave Dexter, Jr., Eliot Tiegel, George Simon, Irving Townsend, Brad McCuen, etc. Veteran music industry executive Bobby Weiss utilized his numerous music business contacts to assist Gramuglia in securing rights to the majority of Hindsight masters.
Gramuglia sold Hindsight in December 2004, and approximately one week later, Michelex completed its acquisition of Hindsight on December 30, 2004.
ABOUT MICHELEX:
Michelex Plastics -- Founded in 1972, is a manufacturer/importer and distributor of C-Zero's, C-Shells, Norelco Boxes, Jewel Boxes and other related specialty plastic products. The company has manufacturing facilities and distribution points in New York and Salt Lake City. The company employs over 100 people who are committed to the customers and to the operations of the business. Michelex offers a full range of products through its divisions to make it a one-stop shop for its customers.
Michele Audio -- Audio duplication services and an exclusive rights holder of a large catalog of music and spoken word recordings.
Michelex Media Products -- Producer, supplier and distributor of paper multimedia packaging products, also offering complete fulfillment services to its customers.
For further information, www.micheleaudio.com
Safe Harbor:
This release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The risks and uncertainties that may affect the operations, performance development and results of the Company's business include but are not limited to fluctuations in financial results, availability and customer acceptance of our products and services, the impact of competitive products, services and pricing, general market trends and conditions, and other risks detailed in the Company's SEC reports.
--------------------------------------------------------------------------------
Contact:
