SARASOTA, Fla.--(BUSINESS WIRE)--Sunset Island Group (Pink Sheets:SIGO), announced today that it has acquired MODA Entertainment Inc. MODA Entertainment (www.modaentertainment.com) is a leading marketer and provider of licensed entertainment merchandise, especially pertaining to Classic Hollywood merchandise, products, and public relation services. The Company holds the exclusive and nonexclusive rights for film, television, home video, internet, merchandise, and licensing. The Company has excellent product development capabilities and is able to rapidly bring products to market. The Company sells its products through several distribution channels including major studios, live events, the traditional wholesale channel, third party licensees, and its online websites. MODA Entertainment has a particularly strong presence in the Classic Hollywood and Golden Age of Hollywood sectors of the entertainment market. Key clients in these categories include Duke Ellington, Edward G. Robinson and Greta Garbo, amongst others.
Sunset Island Group also announced that it has agreed to acquire and retire to treasury 50,000,000 shares from its largest shareholder, thus reducing the amount of issued and outstanding shares significantly.
Safe Harbor Provisions:
Certain statements in this news release are forward-looking within the meaning of the Private Securities Litigation Reform Act of 1995.
No statement herein should be considered an offer or a solicitation of an offer for the purchase or sale of any securities. This release contains forward-looking statements that are based upon current expectations or beliefs, as well as a number of assumptions about future events. Although the Company believes that the expectations reflected in the forward-looking statements and the assumptions upon which they are based are reasonable, it can give no assurance that such expectations and assumptions will prove to have been correct. Forward-looking statements, which involve assumptions and describe our future plans, strategies, and expectations, are generally identifiable by use of the words "may," "will," "should," "could," "expect," "anticipate," "estimate," "believe," "intend," or "project" or the negative of these words or other variations on these words or comparable terminology. The reader is cautioned not to put undue reliance on these forward-looking statements, as these statements are subject to numerous factors and uncertainties, including but not limited to adverse economic conditions, intense competition, lack of meaningful research results, entry of new competitors and products, adverse federal, state and local government regulation, inadequate capital, unexpected costs and operating deficits, increases in general and administrative costs, termination of contracts or agreements, technological obsolescence of the Company's products, technical problems with the Company's research and products, price increases for supplies and components, litigation and administrative proceedings involving the Company, the possible acquisition of new businesses or technologies that result in operating losses or that do not perform as anticipated, unanticipated losses, the possible fluctuation and volatility of the Company's operating results, financial condition and stock price, losses incurred in litigating and settling cases, dilution in the Company's ownership of its business, adverse publicity and news coverage, inability to carry out research, development and commercialization plans, loss or retirement of key executives and research scientists, changes in interest rates, inflationary factors, and other specific risks. The Company undertakes no obligation to publicly release the results of any revisions to these forward-looking statements that may be made to reflect the events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.