“To our shareholders, I am excited to announce that we have filed an initial disclosure document with up-to-date financials on otcmarkets including a renewed commitment to our regular public reporting requirements as the company pioneers a new direction towards which it will lead the entire music industry.
Since our last public disclosure, the Company has maintained its assets and operations distributing its library of music titles digitally through our distribution contract with Ingrooves Music Group, and physically through their partnership with Universal Music Group Distribution, a subsidiary of Universal Music Group, which produces steady revenue for the Company. This however is not a business model for large growth so we have created a new business plan. Management believes that as the entertainment industry trends towards more and more on-line distribution of content, the real revenue growth is in ownership of on-line content distribution “pipes.” If the future of the entertainment industry is in streaming content, I want our company to direct those streams rather than have to negotiate with companies to stream our content. Our creative team has also improved our presence on the web with our new website www.smc-entertainment.com.
The Company is currently negotiating the acquisition of a music distribution company and a film distribution company. I look forward to providing status updates on that and more news as the Company pivots towards this new direction and launches this new business plan, which is ready to blast off.
This is a very exciting time for the company; we are working tirelessly to become the leading player in the digital distribution of content created by artists, both established and up-and-coming, that want a better technology-driven distribution model for their work.”
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This press release contains statements, which may constitute forward-looking statements within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act of 1995. Those statements include statements regarding the intent, belief or current expectations of PV Enterprises International, Inc., members of their management, and assumptions on which such statements are based. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those contemplated by such forward-looking statements.