Penthouse International Profiled in OTC Financial Network Report
February 11 2004 - 5:30AM
PR Newswire (US)
Penthouse International Profiled in OTC Financial Network Report
NEW YORK, Feb. 11 /PRNewswire-FirstCall/ -- Penthouse International
(BULLETIN BOARD: PHSL) , a diversified holding company with
operating subsidiaries in adult entertainment and real estate,
announced today that OTC Financial Network, a division of National
Financial Communications Corp., has issued an InvestorFacts report
on the Company. The report includes a profile of the Company's
business segments, diversified operating strategy and investment
considerations. Interested parties can view the report online at
http://www.otcfn.com/phsl/report.html or call 781-444-6100 x629 for
reprints. General Media, 99.5% owned by Penthouse International,
has sought bankruptcy protection in order to reorganize its debt.
Penthouse International and Del Sol Investments LLC, its real
estate subsidiary, have no existing corporate debt. Penthouse
International did not file for protection under the Bankruptcy Code
and its activities are not subject to Bankruptcy Court supervision.
Geoffrey Eiten, president of National Financial Communications
Corp., stated, "Through General Media's flagship magazine
PENTHOUSE, the Company has accumulated a proprietary library of
adult content consisting of approximately one million high quality,
still photographic images and more than 90 original motion picture
titles. Subject to General Media's emergence from reorganization,
immediate availability of content is being leveraged to scale up
its website and enter into partnerships with third party
distributors. In addition, the General Media growth plans include
opening roughly 25 gentlemen's nightclubs in the U.S. during 2004."
Eiten concluded, "With a diversified growth strategy that calls for
penetrating multiple sales verticals, such as online and real
estate, Penthouse is poised to enter a new phase of dynamic,
long-term growth. Provided subsidiary General Media successfully
emerges from its plan for restructuring, Penthouse is positioned
for a majorturnaround, delivering solid potential for appreciating
shareholder value." OTC Financial Network OTC Financial Network, a
division of National Financial Communications Corp.
(http://www.nationalfc.com/) based in Needham, Massachusetts, is a
full- service financial communications and investor relations firm
that specializes in micro-cap companies. The Company's proactive
campaigns are custom designed to strengthen each client's presence
in the investment community by disseminating breaking news
andfundamental positions to spheres of influence; building upon the
client's existing shareholder base; and soliciting institutional
coverage. For more information, visit http://www.otcfn.com/. About
Penthouse International, Inc. Penthouse International, Inc.,
through its 99.5% owned subsidiaries General Media, Inc. and Del
Sol Investments LLC, is a brand-driven global entertainment
business founded in 1965 by Robert C. Guccione. General Media's
flagship PENTHOUSE brand is one of the most recognized consumer
brands in the world and is widely identified with premium
entertainment for adult audiences. General Media caters to men's
interests through various trademarked publications, movies, the
Internet, location-based live entertainment clubs and consumer
product licenses. General Media licenses the PENTHOUSE trademarks
to third parties worldwide in exchange for recurring royalty
payments. Disclaimer: OTC Financial Network, a division of National
Financial Communications Corp., is not a registered broker/dealer
and may not sell, offer to sell or offer to buy any security. OTC
Financial Network profiles are not a solicitation or recommendation
to buy, sell or hold securities. An offer to buy or sell can be
made only with accompanying disclosure documents from the company
offering or selling securities and only in the states and provinces
for which they are approved. Information or opinions in this
release and the company's profile are presented solely for
informative purposes, and are not intended nor should they be
construed, as investment advice. OTC Financial Network has received
payment for its services, including the publication of the
aforementioned InvestorFacts report and this news release, paid for
in two million shares of the Company's common stock. Full
disclaimer can be found at http://www.otcfn.com/phsl. Safe Harbor
This release contains statements relating to future results of the
Company (including certain projections and business trends) that
are "forward-looking statements" as defined in the Private
Securities Litigation Reform Act of 1995. Actual results may differ
materially from those projected as a result of certain risks and
uncertainties, including but not limited to the availability of DIP
financing for the General Media subsidiary, the impact that public
disclosures of the Company's liquidity situation and Chapter 11
filing may have on the Company's businesses, the fact that no
assurances can be given that the General Media Plan of
Reorganization will enhancethe Company's competitive position, as
well as other risks and uncertainties detailed from time to time in
the filings of the Company with the Securities and Exchange
Commission. On August 12, 2003, General Media and its direct and
indirect subsidiaries (the Debtors) filed voluntary petitions for
relief under Chapter 11 of Title 11 of the United States Code in
the United States Bankruptcy Court for the Southern District of New
York. Penthouse International, Inc. owns 99.5% of the capital stock
of General Media. Penthouse did not file for protection under the
Bankruptcy Code and its activities are not subject to Bankruptcy
Court supervision. On December 22, 2003, the Debtors filed their
Joint Plan of Reorganization and the disclosure statement with
respect to the Plan (as such Disclosure Statement may be amended).
If the Plan is confirmed pursuant to its current terms, no
distribution on account of equity is proposed under its terms. For
additional information, reference is made to publicly available
documents filed with the bankruptcy court to determine the most
current status of all matters related to the bankruptcy case of
General Media. The website of the Bankruptcy Court is
http://www.nysb.uscourts.gov/. For more information, contact: Gary
Geraci OTC Financial Network781-444-6100 ext. 629 See also:
http://www.otcfn.com/phsl DATASOURCE: Penthouse International, Inc.
CONTACT: Gary Geraci of OTC Financial Network, +1-781-444-6100,
ext. 629, or Web site: http://www.otcfn.com/phsl
http://www.nationalfc.com/
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