As promised, our 3rd quarter financial statements were filed on Wednesday. The numbers show that we now have a book value of $7.1 million, which is 35 cents per share. Since our stock is currently trading about 17 cents per share, the 10-Q shows that our stock is extremely undervalued.
I am happy to announce that we will be filing our 3rd Quarter 2009 financial statements on Wednesday. This is important because it means that we will be fully reporting and can begin our move back to the OTC Bulletin Board. It is also good because the results show an increased value in the company, positive earnings for the period and increased revenue.
Our subsidiary Eclectic Entertainment is currently working on an entertainment project in China that will occur in December. As soon as the last approval is received from the Chinese government, I plan to make an official announcement. However, since there is a holiday in China now, it will probably take a week or two to get the final approval.
I am happy to say that we are probably less than a week from filing our 3rd Quarter 2009 financial statements. Once we do, we plan to begin the process of moving back to the OTC Bulletin Board. Also, we have already begun working on our 10-K.
I am happy to report that our financial statements for the second quarter of 2009 has been filed with the Securities and Exchange Commission. This means that we are only one quarter short of being fully reporting, which is the first step in moving back to the Over-The-Counter Bulletin Board. Our auditors are currently working on the Third Quarter financial statements. We expect to file them very soon.
Greetings,
We recently filed our results for the first quarter of 2009 and are happy to report great results. OBN Holdings generated revenue of $6.4 million for the first three months of our 2009 fiscal year. We posted net income of $610,000, or five cents ($0.05) per share, for the period compared to a loss of $169,000, or minus four cents (-$0.04) for the same period in 2008. We plan to file our second quarter results within the next few weeks.
Greetings,
We are currently developing a television commercial for OBN Holdings. The purpose is to reintroduce your company to the investing public. I viewed a rough cut of the commercial and think it looks great. I have already made arrangements to have it aired on a television network that reaches 30 million households. As soon as it is completed, I will provide a link so it can be viewed.
Greetings,
It has been a while since I have provided updates, but we have been very busy. We recently signed a deal with a Chinese promoter, and are developing a number of new entertainment projects. We will make announcements about the new projects as soon as we finalize the deals. Also the “Blues In China” project (www.bluesinchina.com) is rapidly developing.
Have a good summer.
Roger
Greetings,
Since my last post, we have been working diligently to complete the websites for our new project “Blues In China.” The project involves introducing Blues to people in The Peoples Republic of China. If you are interested in learning more about it, check out the websites. The English version of the site is www.bluesinchina.com. The Chinese version is www.bluesinchina.cn.
Also, while developing the site, I discovered that YouTube can not be seen in China and a number of other countries. The reason is because some of the content is problematic. HOWEVER, our site, Music On Demand (www.watchmod.com) can be seen everywhere – even in China. If you have friends (or enemies) that want to have their music seen by a much broader audience, you should tell them to add their music videos to our site as well.
Our results for 2008 were great. In our 2008 annual report we posted:
- Revenue of $2 million for 2008, compared to $0 for 2007;
- A profit of $23,000 for 2008, compared to MINUS $1 million for 2007; and
- Shareholders equity of $5 million for 2008, compared to MINUS $1 million for 2007
I expect the subsequent periods to be even better.