Message #4 From:
NewsBot Date: February 28, 2005 10:41:05 AM
EWKE Earthworks Entertainment Receives First Revenue in Company's History
Earthworks Entertainment Receives First Revenue in Company's History
LOS ANGELES--(BUSINESS WIRE)--Feb. 28, 2005--
As Production Contract Receipts Commence, Company Targets Multi-million Dollar Mark in Sales Commissions & Fees
Earthworks Entertainment (OTCBB:EWKE) announced today that it has received the first one hundred and fifty thousand dollar payment from its Z-Force production contract which provides four hundred and fifty thousand dollars to the Company in supervisory fees for the first 13 Z-Force episodes.
The Company stands to earn a further one million dollars in production fees when it produces its currently targeted number of 27 subsequent Z-Force episodes.
Earthworks President and CEO, Peter Keefe, stated: "These production fees, which by the way are the smallest part of our projected revenues for the Z-Force project, represent a rock solid move toward profitability for our Company. Earthworks will also receive a substantial percentage of all profits generated by all areas of the Z-Force's commercial exploitation worldwide. And, our greatest revenue streams are projected to come from commissions and fees for the merchandise & licensing deals we do, and for the video game, DVD & television sales that we make and manage. We are extremely fortunate to be both producers and marketers which enables us to profit from multiple revenue streams from our entertainment properties. It is extremely rare in this industry, and remarkably valuable, for a company to be in Earthworks position as a creator, producer and seller.
"Our Company has now reached a level of quantifiable accomplishment in the entertainment industry that enables us to compete at the highest levels for the richest revenue earning rewards in the global entertainment industry.
"We believe that we are uniquely poised to deliver an extraordinary earnings performance with our Z-Force property and our future properties."
Please visit the Company website at www.EarthworksEntertainment.com to screen the Z-Force show Sneak Preview and a Nine Dog Christmas video clip.
Earthworks Entertainment creates, produces, markets and distributes high quality children's and family oriented entertainment properties. The Company identifies entertainment properties that it believes have the greatest success potential in the global marketplace. It then develops and markets these properties in exchange for management, production and distribution fees and for a substantial percentage of the worldwide merchandise licensing profits.
These entertainment properties are marketed in all areas of commercial licensing including: TV & Home Video, Toys, Video Games, Music, Books, Leisure & Play Items, Gifts & Novelties, Theme Parks, Food & Drink Promotions, and Apparel.
This News Release contains forward-looking statements which are subject to the safe harbor provisions of the Private Securities Litigation Act of 1995. Due to the fact that Earthworks faces competition from other creators, producers, sellers, marketers, distributors and licensors, and due to the uncertainty of the public's response to Earthwork's children's and family entertainment properties, actual results may differ materially from such forward-looking statements.
Contacts
Earthworks, Los Angeles
Tom Derby, 877-381-5720
or
Peter Keefe 310-589-3985
www.EarthworksEntertainment.com
