SOURCE: Primco Management Inc.
LOS ANGELES, CA--(Marketwired - Sep 25, 2013) - Undiscovered Companies recently conducted an interview with David Michery, the CEO of Primco Management Inc. (OTCQB: PMCM), and has put together a Q&A of questions frequently asked by shareholders and potential investors lately.
1) Status of Tion Phipps' Debut Single: "Break Necks"
We are anticipating the filming of a music video in the very near future for worldwide distribution via online and Traditional Media such as MTV, YouTube etc.
Currently Tion Phipps is performing at the Riviera Theater, Chicago on October 3, 2013 and at the Sound Academy, Toronto on October 4, 2013 in connection with Digitour (which features the most followed new and emerging stars).
With all the attention being received presently for Tion the song Break Necks has a lot of the momentum typically seen in a mainstream hit. Break Necks is currently climbing on the charts.
If you have not yet done so please see the link to the song on iTunes and YouTube.
2) Status on thebasketballchannel.net
Are you going to be able to put any advertising related to ESMG music products on the channel?
The deal is moving forward. We integrate our product in everything that we do and we fully intend to utilize advertising opportunities on the Basketball Channel to cross-promote our music artists. The demographics are a perfect fit for each other, there is tremendous potential.
3) Status of Deal to Release an Exclusive Music Catalog of over 2,000 Songs by Legendary Artists
The company is acting as exclusive distributors of the music catalog and anticipate marketing it on iTunes, retail stores and via infomercials. We plan on utilizing our relationship with WEA/Warner Music Group for digital sales such as iTunes, and retail storefronts such as Wal-Mart.
For infomercial sales, we already have an established call center and fulfillment center through Top Sail Productions and can therefore handle it directly.
Conservatively, we believe that it will generate annual revenues in excess of $1 million from the catalog, with only a modest investment in distribution.
Taking into consideration only iTunes, to achieve this level would only take an average of 500 downloads per song, over 2,000 songs.
4) Why did you increase your authorized shares?
We increased our authorized shares from 2 billion to 5 billion to be in the position to execute on potential future acquisitions.
5) Does the company have any revenues?
Yes. Through the acquisition of Top Sail Productions we reflected gross revenues of approximately $ 14,000 in our 10Q for the quarter ending June 30, 2013 and we expect to reflect gross revenues of approximately $25,000 in our 10Q for the quarter ending September 30, 2013. It is too early to reflect any significant revenue from our artists in the quarter ending September 30, 2013. We do however anticipate reflecting much higher levels of gross revenues in the fourth quarter ending December 31, 2013.
6) Does Primco have any tangible plans in the future?
Yes. We continue to be in negotiations with music producers of compelling and commercially attractive recorded music with the objective of expanding our joint venture business model to acquire distribution rights, with little to no advances required to be paid by us. In addition, ESMG Music plans to close a foreign sub-licensing deal by the end of the month.
We also plan to close several film and TV distribution acquisitions by the end of the year (for distribution by us in 2014) and we plan to work with the Basketball Channel as they launch their news and sports event programming in November 2013 in conjunction with the exclusive filming of the upcoming Basketball Hall of Fame tournaments. At the same time, we will be launching our own interactive EatSleepSports.tv channel and jointly distributing exciting original content with the Basketball Channel.
Our Real Estate division anticipates closing by year end the acquisition of the land and related permits relating to the Tuscany Villas 60 townhouse construction project in Corona, California -- with the commencement of the build by the end of the year should they run into no roadblocks.
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About Primco Management Inc.:
Through its wholly owned subsidiary, ESMG Inc., the Company operates as an integrated entertainment company with divisions in music and film production and distribution, and is launching additional divisions in television, radio and online sports. Primco also operates in various aspects of the real estate industry. (For additional information, visit www.primcousa.com).
Safe Harbor Disclaimer: Undiscovered Companies and The Company (PMCM) 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.
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