|By PR Newswire||
|March 24, 2014 06:35 AM EDT||
LOS ANGELES, March 24, 2014 /PRNewswire/ -- Primco Management Inc. (OTCQB: PMCM), a fully integrated multi-media entertainment and real estate development company, today announced that the Company has commenced audits on both the Top Sail and D&B acquisitions, and that there will be no increase in the number of authorized shares until the audits and amended filing has been declared effective.
"Based on conversations with our attorneys, it is possible that there will be no share increase for 90 days", stated David Michery, CEO. "In the meantime, this delay is a blessing to our shareholders as we are in the midst of negotiating the settlement of all of our convertible debt and, consequently, the preservation of our share price. We have already entered into agreements with equity investors and have begun the process of improving the balance sheet."
About Primco Management Inc.:
Through its wholly-owned subsidiaries, ESMG Inc., Top Sail Productions and D & B Music, Inc., the Company operates as an integrated entertainment company with divisions in music and film production and distribution. Primco also operates in various aspects of the real estate industry. (For additional information, visit www.primcousa.com).
Disclaimer: The Company relies upon the Safe Harbor Laws of 1933, 1934 and 1995 for all public news releases. Statements, which are not historical facts, are forward-looking statements. The company, through its management, makes forward-looking public statements concerning its expected future operations, performance and other developments. Such forward-looking statements are necessarily estimates reflecting the company's best judgment based upon current information and involve a number of risks and uncertainties, and there can be no assurance that other factors will not affect the accuracy of such forward-looking statements. It is impossible to identify all such factors. Factors which could cause actual results to differ materially from those estimated by the company include, but are not limited to, government regulation; managing and maintaining growth; the effect of adverse publicity; litigation; competition; and other factors which may be identified from time to time in the company's public announcements.
David Michery, CEO
SOURCE Primco Management Inc.
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