Click here to close now.


News Feed Item

Red Giant Entertainment Announces Results of Pivotal Transition Quarter

ORLANDO, FL -- (Marketwired) -- 01/14/14 -- Red Giant Entertainment Inc. (OTCQB: REDG), an innovative Intellectual Property company specializing in high quality characters and content for use in a variety of media and entertainment, announced today its first quarter report.

The three months ended November 30, 2013 were largely in transition into the next phase of the Company's business model after refining market pathways and establishing viable new Intellectual Property over the preceding financial periods. Included in the many operational shifts was the (i) Supply Agreement with Diamond Comic Distributors, Inc (DCD) dated November 25, 2013 and effective January 1, 2014; (ii) transitioning our Collected Book line to be distributed through DCD for book store sales and specialty book sales; and (iii) focusing efforts on transitioning from paid-book sales to production of a "Giant-Size" line of titles that will be provided at no charge, with revenue being earned through selling advertising in such Giant-Size titles.

"We are gearing up the bulk of our publishing activities for our advertising-supported 'Giant-Size' comic book line," explained Benny Powell, CEO, Red Giant Entertainment Inc. "This means that we have had to make two major changes concerning our current largest profit centers: Book Sales and Creative Services."

"Diamond Comic Distribution and its book division, Diamond Books Distributors, are now handling all facets of Red Giant book distribution. We have already received invoices prior to the end of that quarter, which are not reflected in the revenue reported today. The Company hopes to grow these revenues rapidly over the coming months, but more importantly, Diamond is a crucial component for our Giant-Size Line."

Diamond, the world's largest distributor of English-language comic books, graphic novels, and pop culture products, has formally agreed to carry Red Giant's full line of Giant-Size ad-supported free print comic books throughout their "direct market" network of 2,638 stores, as well as expand Red Giant's distribution to bookstores in the US and UK markets via Diamond Book Distributors.

Powell further explained, "Likewise, we have had to re-task our resources from our typically profitable sector of Creative Services to the efforts necessary to build the Giant-Size line. While Creative Services will remain a platform of profit moving forward, it is unlikely to rival the immense revenue and exposure we expect to achieve with the Giant-Size line."

Due to these changes' effect on our operations, we incurred significantly greater operating expenses and significantly lower revenues and profits for the three months ended November 30, 2013 as compared to the three months ended November 30, 2012. Nevertheless, our management believes that the Changes will eventually lead to greater profitably and more stability for our business and our prospects in the future, particularly if we are able to successfully launch our Giant-Size line of titles.

"We understand that transitions can be difficult, but every indication is that we are well on our way to achieving all of our goals. For instance, the addition of Kris Longo for advertising sales director was a crucial aspect that has now fallen into place. We are immensely excited at what these and other relationships we are in final stages of forging will afford us in the coming weeks and months ahead."


Diamond Comic Distributors was established in 1982 to provide comic book specialty retailers with wholesale, non-returnable comic books, graphic novels and related pop-culture merchandise. After more than 30 years of service, Diamond has become the world's largest distributor of English-language comics, graphic novels, and related pop-culture merchandise, with a network of shipping and distribution throughout the world.

Red Giant provides news and updates at the following online locations. and on


Red Giant Entertainment Inc. (OTCQB: REDG) is a Nevada corporation that specializes in intellectual property (IP) development for multiple media platforms and transmedia propagation. The cornerstone of this development is based around the more than three dozen online and print graphic novel properties in various stages of production as well as the cast of thousands of characters from those series. These properties have a readership that numbers in the millions globally. Some of these properties are actively in development into other media such as movies, video games, television, novels, toys, apparel, applications, etc. through either direct production or licensing agreements.

Forward Looking Statements

This press release may contain "forward-looking statements." Any statements that are not statements of historical fact, including but not limited to statements containing the words "believes," "plans," "anticipates," "expects," "look forward," "estimates" and similar expressions, should be considered to be forward-looking statements. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors, to include acquisition, production, marketing, distribution, competition with related patent, trademark and license issues involving contractual obligations and concessions. The Company does not assume any obligation to update any forward-looking statements to reflect events or circumstances after the date of this press release, except as required by applicable law. The Company files annual, quarterly and current reports, proxy and information statements and other information with the Securities and Exchange Commission. This press release should be read in conjunction with all of the reports that the Company has previously filed with the Securities and Exchange Commission for financial and other information about it. The references to the websites and have been provided as a convenience, and the information contained on such websites is not incorporated by reference into this press release.

Company Contact:
Red Giant Entertainment Inc.

Investor Relations Contact:
Kurt Divich
Integrity Media Inc.
(702) 396-1000
Email Contact

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

Latest Stories
The cloud. Like a comic book superhero, there seems to be no problem it can’t fix or cost it can’t slash. Yet making the transition is not always easy and production environments are still largely on premise. Taking some practical and sensible steps to reduce risk can also help provide a basis for a successful cloud transition. A plethora of surveys from the likes of IDG and Gartner show that more than 70 percent of enterprises have deployed at least one or more cloud application or workload. Y...
Discussions of cloud computing have evolved in recent years from a focus on specific types of cloud, to a world of hybrid cloud, and to a world dominated by the APIs that make today's multi-cloud environments and hybrid clouds possible. In this Power Panel at 17th Cloud Expo, moderated by Conference Chair Roger Strukhoff, panelists addressed the importance of customers being able to use the specific technologies they need, through environments and ecosystems that expose their APIs to make true ...
Microservices are a very exciting architectural approach that many organizations are looking to as a way to accelerate innovation. Microservices promise to allow teams to move away from monolithic "ball of mud" systems, but the reality is that, in the vast majority of organizations, different projects and technologies will continue to be developed at different speeds. How to handle the dependencies between these disparate systems with different iteration cycles? Consider the "canoncial problem"...
Too often with compelling new technologies market participants become overly enamored with that attractiveness of the technology and neglect underlying business drivers. This tendency, what some call the “newest shiny object syndrome” is understandable given that virtually all of us are heavily engaged in technology. But it is also mistaken. Without concrete business cases driving its deployment, IoT, like many other technologies before it, will fade into obscurity.
Container technology is shaping the future of DevOps and it’s also changing the way organizations think about application development. With the rise of mobile applications in the enterprise, businesses are abandoning year-long development cycles and embracing technologies that enable rapid development and continuous deployment of apps. In his session at DevOps Summit, Kurt Collins, Developer Evangelist at, examined how Docker has evolved into a highly effective tool for application del...
The Internet of Things is clearly many things: data collection and analytics, wearables, Smart Grids and Smart Cities, the Industrial Internet, and more. Cool platforms like Arduino, Raspberry Pi, Intel's Galileo and Edison, and a diverse world of sensors are making the IoT a great toy box for developers in all these areas. In this Power Panel at @ThingsExpo, moderated by Conference Chair Roger Strukhoff, panelists discussed what things are the most important, which will have the most profound...
As organizations shift towards IT-as-a-service models, the need for managing & protecting data residing across physical, virtual, and now cloud environments grows with it. CommVault can ensure protection & E-Discovery of your data - whether in a private cloud, a Service Provider delivered public cloud, or a hybrid cloud environment – across the heterogeneous enterprise.
PubNub has announced the release of BLOCKS, a set of customizable microservices that give developers a simple way to add code and deploy features for realtime apps.PubNub BLOCKS executes business logic directly on the data streaming through PubNub’s network without splitting it off to an intermediary server controlled by the customer. This revolutionary approach streamlines app development, reduces endpoint-to-endpoint latency, and allows apps to better leverage the enormous scalability of PubNu...
Growth hacking is common for startups to make unheard-of progress in building their business. Career Hacks can help Geek Girls and those who support them (yes, that's you too, Dad!) to excel in this typically male-dominated world. Get ready to learn the facts: Is there a bias against women in the tech / developer communities? Why are women 50% of the workforce, but hold only 24% of the STEM or IT positions? Some beginnings of what to do about it! In her Day 2 Keynote at 17th Cloud Expo, San...
Apps and devices shouldn't stop working when there's limited or no network connectivity. Learn how to bring data stored in a cloud database to the edge of the network (and back again) whenever an Internet connection is available. In his session at 17th Cloud Expo, Ben Perlmutter, a Sales Engineer with IBM Cloudant, demonstrated techniques for replicating cloud databases with devices in order to build offline-first mobile or Internet of Things (IoT) apps that can provide a better, faster user e...
In today's enterprise, digital transformation represents organizational change even more so than technology change, as customer preferences and behavior drive end-to-end transformation across lines of business as well as IT. To capitalize on the ubiquitous disruption driving this transformation, companies must be able to innovate at an increasingly rapid pace. Traditional approaches for driving innovation are now woefully inadequate for keeping up with the breadth of disruption and change facin...
Today air travel is a minefield of delays, hassles and customer disappointment. Airlines struggle to revitalize the experience. GE and M2Mi will demonstrate practical examples of how IoT solutions are helping airlines bring back personalization, reduce trip time and improve reliability. In their session at @ThingsExpo, Shyam Varan Nath, Principal Architect with GE, and Dr. Sarah Cooper, M2Mi’s VP Business Development and Engineering, explored the IoT cloud-based platform technologies driving t...
I recently attended and was a speaker at the 4th International Internet of @ThingsExpo at the Santa Clara Convention Center. I also had the opportunity to attend this event last year and I wrote a blog from that show talking about how the “Enterprise Impact of IoT” was a key theme of last year’s show. I was curious to see if the same theme would still resonate 365 days later and what, if any, changes I would see in the content presented.
Cloud computing delivers on-demand resources that provide businesses with flexibility and cost-savings. The challenge in moving workloads to the cloud has been the cost and complexity of ensuring the initial and ongoing security and regulatory (PCI, HIPAA, FFIEC) compliance across private and public clouds. Manual security compliance is slow, prone to human error, and represents over 50% of the cost of managing cloud applications. Determining how to automate cloud security compliance is critical...
Culture is the most important ingredient of DevOps. The challenge for most organizations is defining and communicating a vision of beneficial DevOps culture for their organizations, and then facilitating the changes needed to achieve that. Often this comes down to an ability to provide true leadership. As a CIO, are your direct reports IT managers or are they IT leaders? The hard truth is that many IT managers have risen through the ranks based on their technical skills, not their leadership ab...