M Power Entertainment Reports Revenues of $698,718 For The Six Months Ended June 30, 2005
Thursday, September 29, 2005 - New York, NY: M Power Entertainment, Inc.
(OTCBB: MPWE),a developer of lifestyle initiatives to emerging global markets, reported net revenues of $698,718 for the six months ended June 30, 2005. The revenues were the result of the newly acquired subsidiary companies CoraZong Music, M Power Releasing, White Canyon, and Channel Access. Additional details can be found in the Companyęs Form 10QSB available at http://www.sec.gov.
The newly acquired companies operating under the M Power business model were the contributing factor to generating revenues. For the six months of 2005, the Company achieved financial gains through the activities of its subsidiaries.
CoraZong Records, a European music production and distribution company has branched out to Canada, Mexico and the U.S. where it has launched its album catalog in 2005. M Power Releasing Inc., formerly RS Entertainment, is the largest independent film distributor in the United States and specializes in films that are highly profitable but too small for the attention of the major distributors. WhiteCanyon, Inc.ęs software WipeDrive is listed as one of the top five hard drive sanitizing software solutions by the U.S. Department of Defense. The subsidiaryęs products can be found in leading retailers such as Best Buy, CompUSA, Office Depot, Fry's, Amazon.com, and MicroCenter. Channel Access specializes in marketing and distributing utility and personal productivity software products to retail stores in the United States and Canada.
Gary Kimmons, President of M Power Entertainment, said, –The Companyęs quarterly numbers are proof that the M Power business model is materializing into positive results. Our plan of accretive acquisitions and the leveraging of those newly acquired assets to provide value to our clients have generated a strong revenue base for us. We anticipate continuing to build revenues in the second half of 2005.”
About M Power Entertainment, Inc.
Based in New York, NY, MPWE is a next-generation media and entertainment
corporation providing a diversified portfolio of state-of-the-art entertainment
and media resources. The Companyęs strategy is to acquire and integrate its subsidiaries to create lucrative cross-promoting opportunities within the entertainment and lifestyle spheres. For more information
on M Power Entertainment please visit its corporate Web site www.mpe.us.com.
Safe
Harbor
Statements in this news release that are not historical facts, including
statements about plans and expectations regarding products and opportunities,
demand and acceptance of new or existing products, capital resources
and future financial results are forward-looking. Forward-looking statements
involve risks and uncertainties which may cause the Company's actual
results in future periods to differ materially from those expressed.
These uncertainties and risks include changing consumer preferences,
lack of success of new products, loss of the Company's customers, competition
and other factors discussed from time to time in the Company's filings
with the Securities and Exchange Commission.
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Contact:
M Power Entertainment Inc.
Renee H. Ethridge, 713-966-9893
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