Message #59 From:
NewsBot Date: November 14, 2006 08:31:00 AM
GNPI News Genius Products, LLC Announces Date of Third Quarter Conference Call and Extension in Filing Form 10-Q
SANTA MONICA, Calif.--(BUSINESS WIRE)--Genius Products, LLC (OTCBB:GNPI)
announced today that it filed with the Securities and Exchange
Commission a notice extending the filing date of its quarterly report on
Form 10-Q for the three months ended September 30, 2006 and the date of
its Third Quarter, 2006 earnings release and conference call.
The Company expects to release financial results for the third quarter
ended September 30, 2006 on Monday, November 20, 2006. The Company’s
executives also plan to host an investor conference call to discuss the
results on the following day, November 21, 2006, at 6:00 a.m. PT (9:00
a.m. ET). Investors are invited to listen to Genius Products' conference
call by dialing 800-299-7928 and using the passcode 26616968.
International callers can dial 617-614-3926 and enter the same passcode.
There will also be a simultaneous webcast available at www.geniusproducts.com.
A replay of the call will be available until Tuesday, December 5, 2006,
and can be accessed by dialing 888-286-8010 from the U.S., or
617-801-6888 for international callers, and using the passcode 68430660.
A replay webcast will also be available at www.geniusproducts.com.
The extension was requested due to additional financial accounting and
reporting requirements related to the transaction with The Weinstein
Company that closed on July 21, 2006 that required separate financial
statements for Genius Products, LLC, the partnership that is jointly
owned by Genius Products, Inc. and The Weinstein Company, and related
purchase price accounting adjustments.
On July 21, 2006, Genius Products, Inc. (the Company) consummated its
transaction with The Weinstein Company (“TWC”).
At the closing of the transaction, the Company contributed all of its
operating business, including substantially all of its assets, except
for $1 million cash and certain liabilities to a limited liability
company (the “Distributor”)
and received 30% equity interest in the Distributor. Commencing on July
22, 2006, the Company’s financial statements
will account for its investment in the Distributor using the equity
method of accounting.
About Genius Products
Genius Products, Inc. (OTCBB:GNPI),
along with The Weinstein Company, jointly own Genius Products, LLC, a
leading independent home-entertainment distribution company that
produces, licenses, and distributes a valuable library of motion
pictures, television programming, family, lifestyle and trend
entertainment on DVD and other emerging platforms through its expansive
network of retailers throughout the U.S. Genius handles the
distribution, marketing and sales for such brands as Asia Extreme(TM),
Baby Genius®, Dragon Dynasty(TM), Dimension
Films, ESPN®, IFC®,
NBC News®, Sundance Channel Home Entertainment®,
Wellspring(TM) and The Weinstein Company®.
Genius Products, Inc. is the managing member of Genius Products, LLC, in
which it holds a 30% equity interest.
