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.
Contact:
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David Michery,
CEO
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(562)
565-9967
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SOURCE Primco Management Inc.