SOURCE: PrimEdge, Inc.

April 17, 2007 08:42 ET

PrimEdge's Orangebox Entertainment Completes 75% of Expansion Plans for Studio and Production Facilities; Initial Forecasts Reveal Increased Growth Upon Completion

BOCA RATON, FL -- (MARKET WIRE) -- April 17, 2007 -- Orangebox Entertainment, a subsidiary of PrimEdge, Inc. (PINKSHEETS: PEDG), announced today that it has completed 75% of the construction relating to its major expansion of its Los Angeles studios and production facilities. This expansion specifically includes the addition of new state-of-the-art ADR and Foley editorial suites along with multiple digital audio post production edit rooms.

With the completion of the company's expansion plan, the addition of the new cutting-edge digitized equipment, and increased facility operations, Orangebox will be able to rapidly grow its revenues as it will have the ability to take on a far greater number of projects concurrently from more of the major entertainment players in the industry.

Brian Schuster, Chairman and CEO, stated, "Completion of Orangebox's expansion is expected to further its ability to execute on its aggressive growth strategy. Internal forecasts project a greater than 30% revenue increase near term, once the company's expansion is completed. Construction is scheduled for completion in early June."

He added, "From what we have heard from our clientele we anticipate immediately reaching capacity for our expanded facilities once the construction and equipment installation is complete. This is a very exciting time and we are all eager to get this construction behind us and kick our growth strategy into high gear."

About PrimEdge, Inc.

PrimEdge, Inc. is a diversified holding company, owning and overseeing the operations of two majority owned subsidiaries, Orangebox Entertainment, Inc., an production and post production services provider to the entertainment industry, and DigiKidz, Inc., a producer and distributor of family entertainment DVDs. PrimEdge, Inc. seeks rapid growth through additional acquisitions and the sales and marketing by its subsidiaries of proprietary products and services.

About Orangebox Entertainment, Inc.

Orangebox Entertainment (www.orangeboxentertainment.com), located in Burbank, California, is a unique service provider to the entertainment Industry, providing state-of-the-art audio and video Production and Post Production capabilities and increasingly motion picture and TV film editing capabilities. These capabilities address and fulfill the constantly increasing needs for Film, TV, Home Entertainment, Children and Educational Programming, Industrial Media, Promos, Commercials, and Music. Orangebox Entertainment intends to become the ``next generation provider'' of digital production services for the entertainment industry.

Safe Harbor Statement

Certain statements set forth in this press release constitute "forward-looking statements." Forward-looking statements include, without limitation, any statement that may predict, forecast, indicate, or imply future results, performance or achievements, and may contain the words "estimate," "project," "intend," "forecast," "anticipate," "plan," "planning," "expect," "believe," "will likely," "should," "could," "would," "may" or words or expressions of similar meaning. Such statements are not guarantees of future performance and are subject to risks and uncertainties that could cause the company's actual results and financial position to differ materially from those included within the forward-looking statements. Forward-looking statements involve risks and uncertainties, including those relating to the Company's ability to grow its business. Actual results may differ materially from the results predicted and reported results should not be considered as an indication of future performance. The potential risks and uncertainties include, among others, the Company's limited operating history, the limited financial resources, domestic or global economic conditions -- activities of competitors and the presence of new or additional competition and conditions of equity markets.

Contact Information

  • Contact:
    PrimEdge, Inc.
    Press Relations
    (561) 447-7977