Empfehlung :Rascals !

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neuester Beitrag: 18.04.05 13:16
eröffnet am: 25.05.04 13:39 von: soros Anzahl Beiträge: 402
neuester Beitrag: 18.04.05 13:16 von: timm Leser gesamt: 22399
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25.05.04 13:39

4388 Postings, 6950 Tage sorosEmpfehlung :Rascals !

Market Cap
472.85 k

Shares
4.73 m

Ist mit "New" betitelt und im OTCBB. Kleine Aktienanzahl.

http://isht.comdirect.de/charts/...ors=0x000000&sSym=RSCA.NAP&hcmask=

was meint Ihr, lohnt es sich auf den Herdentrieb mit rauf zu springen? Hatte heute eine Empfehlung per email bekommen! Ich schaue lieber zu! :)



 
Seite: 1 | 2 | 3 | 4 |
15 | 16 | 17 | 17   
376 Postings ausgeblendet.

11.03.05 13:19

375 Postings, 6089 Tage timmmal schauen wie es am 15. weitergeht - news

Form 8-K for HEADLINERS ENTERTAINMENT GROUP, INC.


--------------------------------------------------

9-Mar-2005

Change in Accountant



Item 4.01 Change in Registrant's Certifying Accountant
On March 3, 2005 Headliners dismissed Bagell, Josephs & Company, LLC ("Bagell Josephs") from its position as Headliners' principal independent accountant. The decision to dismiss Bagell Josephs was approved by the Board of Directors of Headliners.

Bagell Josephs had not, prior to its dismissal, rendered any audit report or review opinion with respect to Headliners' financial statements. Bagell Josephs did not, at any time prior to its dismissal, advise Headliners of any of the enumerated items described in Item 304(a)(1) of Regulation S-B.

Headliners and Bagell Josephs have not had any disagreement on any matter of accounting principles or practices, financial statement disclosure, or auditing scope or procedure, which disagreement, if not resolved to Bagell Josephs' satisfaction, would have caused Bagell Josephs to make reference to the subject matter of the disagreement in connection with its reports on Headliners' financial statements.

On March 3, 2005, Headliners retained Joseph Troche, CPA to audit Headliners' financial statements for the year ended December 31, 2004. At no time during the past two fiscal years or any subsequent period did Headliners consult with Joseph Troche regarding either the application of accounting principles to a specified transaction or the type of audit opinion which might be rendered on Headliners' financial statements or any matter of the sort described above with reference to Bagell Josephs.

 

11.03.05 13:42

552 Postings, 6011 Tage congawarum wechselt Ed so oft ???

das ist aufwändig und teuer...
Item 4.01 Change in Registrant's Certifying Accountant

On December 8, 2004 Rosenberg Rich Baker Berman & Company, P.A. ("RRBB") resigned from its position as Headliners Entertainment Group's principal independent accountant.

The audit reports of RRBB on Headliners Entertainment Group's financial statements for the years ended December 31, 2003 and 2002 contained a modification expressing substantial doubt about Headliners Entertainment Group's ability to continue as a going concern. The audit reports of RRBB for the years ended December 31, 2003 and 2002 did not contain any other adverse opinion or disclaimer of opinion or qualification. RRBB did not, during the applicable periods, advise Headliners Entertainment Group of any of the enumerated items described in Item 304(a)(1) of Regulation S-B.

Headliners Entertainment Group and RRBB have not, in connection with the audits of Headliners Entertainment Group's financial statements for the years ended December 31, 2003 or December 31, 2002, had any disagreement on any matter of accounting principles or practices, financial statement disclosure, or auditing scope or procedure, which disagreement, if not resolved to RRBB's satisfaction, would have caused RRBB to make reference to the subject matter of the disagreement in connection with its reports.

On December 10, 2004, Headliners Entertainment Group retained the firm of Bagell, Josephs & Company, LLC to audit Headliners Entertainment Group's financial statements for the year ended December 31, 2004. At no time during the past two fiscal years or any subsequent period did Headliners Entertainment Group consult with Bagell, Josephs & Company, LLC regarding either the application of accounting principles to a specified transaction or the type of audit opinion which might be rendered on Headliners Entertainment Group's financial statements or any matter of the sort described above with reference to RRBB.

 

11.03.05 14:26

375 Postings, 6089 Tage timmnaja dem Kurs hilfts +50% doch leider angesichts

der momentanen Situation wenig anlass um euphorisch zu sein,
würde mir eigentlich auch noch ein paar zulegen wollen, doch angesichts dass am 15. die fahrstuhlmusik weitergeht lass ich dass lieber.
würde der split nicht ins hause stehen hätte ich mir auch schon längst noch ein ordentliches paket gegönnt, doch nun (wenn nicht etwas weltbewegenes announced wird)wird die latte höher gehängt um wieder fallen zu können
aber wie gesagt

schaun wir mal
 

11.03.05 16:12

375 Postings, 6089 Tage timm+17% 5Mio gehandelt nach 30 min möchte man einen

besseren Preis?  

11.03.05 16:19

375 Postings, 6089 Tage timm+25% 10 Mio gehandelt hmm? o. T.

11.03.05 16:27

375 Postings, 6089 Tage timmund hier die NEWS

Entry Material Agreement



Item 1.01 Entry into a Material Definitive Agreement
On March 7, 2005 Headliners entered into a "Joint Management Agreement" with Global Concepts, Ltd., Eduardo Rodriguez, Michael Margolies, The Rodriguez Family Trust and The Margolies Family Trust. The Joint Management Agreement contained the following provisions relevant to Headliners:

- The Rodriguez Family Trust and The Margolies Family Trust agreed to organize a limited liability company. The Trusts, as well as Rodriguez and Margolies, will contribute their Headliners shares to the Trust on August 15, 2005. Headliners will pay a fee of $5,000 per month to the limited liability company in compensation for the services of Rodriguez and Margolies.

- Headliners entered into five year Employment Agreement with Rodriguez.

- Margolies resigned from his position as Vice Chairman of Headliners.

- Headliners entered into a five year advisory agreement with Margolies.

- Rodriguez and Margolies agreed that they would each serve as members of Headliners' Board of Directors. They also agreed to elect a third member, to be nominated by Rodriguez.

- Headliners, Rodriguez and Margolies agrees that until the death of Rodriguez or Margolies, the compensation and benefits paid by Headliners to Rodriguez will exceed the compensation and benefits paid by Headliners to Margolies by $175,000.

Headliners' Employment Agreement with Rodriguez provides that he will serve as President. His compensation will be $200,000 per annum plus an automobile allowance of $1,000 per month. The fee payable to Rodriguez will continue for the term of the agreement, notwithstanding Rodriguez' death or disability. The agreement terminates on January 31, 2010, except that Rodriguez covenanted that for one year after termination he will not engage in activities that are competitive with Headliners.

Headliners' Advisory Agreement with Margolies provides that he will consult with the Board of Directors and the President on matters of business development, investor relations public relations and finance. Headliners will pay Margolies a fee of $25,000 per annum and provide him the same benefits as are provided to Headliners' executive officers. The fee payable to Margolies will continue for the term of the agreement, notwithstanding Margolies' death or disability. The agreement terminates on January 31, 2010, except that Margolies covenanted that for one year after termination he will not engage in activities that are competitive with Headliners.

The Joint Management Agreement also contained terms regarding the management of Global Concepts, Ltd. Among other things, Eduardo Rodriguez will serve as Chief Executive Officer of Global Concepts at the same time that he is serving as President of Headliners.
 

15.03.05 19:03

552 Postings, 6011 Tage conganoch eine

Item 1.02 Termination of a Material Definitive Agreement

On March 14, 2005 Headliners and Cornell Capital Partners, LP jointly
terminated the Equity Line of Credit Agreement between them dated October 8,
2003.

On March 14, 2005 Headliners and Cornell Capital Partners, LP also
jointly terminated the Standby Equity Distribution Agreement between them
dated June 2, 2004.


SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934,
the Registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.

HEADLINERS ENTERTAINMENT GROUP, INC.


Dated: March 15, 2005 By:/s/ Eduardo Rodriguez
--------------------------------
Eduardo Rodriguez
Chief Executive Officer
 

15.03.05 19:05

552 Postings, 6011 Tage congaund noch eine

HEADLINERS ENTERTAINMENT GROUP, INC.
501 Bloomfield Avenue
Montclair, NJ 07042
973-233-1233

March 15, 2005

Securities and Exchange Commission
450 Fifth Street, NW
Washington, DC 20549

Re: Headliners Entertainment Group, Inc.
Registration Statement on Form SB-2 (File No. 333-116117)

Ladies and Gentlemen:

Pursuant to Rule 477 under the Securities Act of 1933, as amended, Headliners
Entertainment Group, Inc. hereby applies for withdrawal of the above-
referenced Registration Statement on Form SB-2, which was initially filed
with the Securities and Exchange Commission on June 3, 2004 and amended on
August 10, 2004, December 7, 2004 and January 27, 2005.

The Registration Statement was filed in contemplation of a public offering by
Cornell Capital Partners, LP and 47 other shareholders. Headliners is
withdrawing the Registration Statement in contemplation of (a) a substantial
modification of the contractual relationship between Headliners and Cornell
Capital Partners and (b) the availability in the near future of Rule 144 to
permit the other 47 shareholders to distribute their shares. The
Registration Statement has not been declared effective, and none of the
securities included in the Registration Statement have been sold in
connection with the offering.

Please provide, by facsimile, a copy of the order granting withdrawal of the
Registration Statement to our legal counsel, Robert Brantl (facsimile: 718-
965-4042). If you have any questions with regard to this application for
withdrawal, please contact Mr. Brantl at 718-768-6045.



Headliners Entertainment Group, Inc.

By: /s/ Eduardo Rodriguez
-----------------------------------
Eduardo Rodriguez, President  

16.03.05 19:28

552 Postings, 6011 Tage congar/S ab heute börsenschluss aktiv

Headliners Entertainment Group, Inc. Effects a One-for-1,000 Reverse Split

Wednesday, March 16, 2005 12:50 ET

MONTCLAIR, N.J., Mar 16, 2005 (PRIMEZONE via COMTEX) --Headliners Entertainment Group, Inc. (OTCBB:HLNR) announced today that, effective at the close of business on March 16, 2005, there will be a one-for-1,000 reverse split of its common stock. Fractional shares resulting from the reverse split will be purchased on the basis of $8.00 per share. Commencing on March 17, 2005, the common stock of the Company will be listed for trading on the OTB Bulletin Board under the symbol 'HLEG'.

About Headliners Entertainment Group Inc.

Headliners owns and operates Rascals Comedy Club one of the premier comedy clubs in the United States, drawing upon its respected national recognition and rich history of providing the highest quality comedic entertainment in the industry. Currently, the company prides itself on its ability to employ successful entertainers at its growing chain of venues, both in its stand-alone and hotel-based operations. The company is also its final stage of an acquisition of 6 dance clubs to add to its revenue.

For further information, visit www.rascals.net or contact Ed Rodriguez at 973-233-1233

The information in this Press Release includes certain "forward-looking" statements within the meaning of the Safe Harbor provisions of Federal Securities Laws. Investors are cautioned that such statements are based upon assumptions that in the future may prove not to have been accurate and are subject to significant risks and uncertainties, including the future financial performance of the Company. Although the Company believes that the expectations reflected in its forward-looking statements are reasonable, it can give no assurance that such expectations or any of its forward-looking statements will provide to be correct. Factors that could cause results to differ include, but are not limited to successful performances of internal plans, the impact of competitors, and general economic risks and uncertainties.

SOURCE: Headliners Entertainment Group, LLC




Ed Rodriguez
973-233-1233
www.rascalscomedyclub.com


(C) 2005 PRIMEZONE, All rights reserved.
 

17.03.05 19:01

552 Postings, 6011 Tage congaerster Kurs 4$ o. T.

17.03.05 19:50

4101 Postings, 5761 Tage IDTE2morgen schon bei 2$ o. T.

18.03.05 17:10

552 Postings, 6011 Tage congazumindest die Richtung stimmt und

diese Jungs sind auch schon wieder mit von der Partie...dann wirds auch bald wieder Handelsvolumen geben..

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549

FORM 8-K/A
(Amendment No. 1)

Current Report
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): March 16, 2005

HEADLINERS ENTERTAINMENT GROUP, INC.
(Exact Name of Registrant as Specified in its Charter)


       Delaware                  0-33145                  84-1195628
--------------------------------------------------
(State of Incorporation)      (Commission File          (IRS Employer
                              Number)                   Identification No.)




501 Bloomfield Avenue, Montclair, NJ 07042
(Address of principal executive offices)

(973) 233-1233
Registrant's Telephone Number
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

[ ] Written communication pursuant to Rule 425 under the Securities Act (17 CFR 230.425).
[ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12).
[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)).
[ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)).


--------------------------------------------------

Amendment No. 1
This amendment is being filed to correct an error in section 1.17 of Exhibit 10-a, and to make a corresponding change in the text of Item 1.01.
Item 1.01 Entry into a Material Definitive Agreement

On March 16,2005 Headliners signed a Standby Equity Distribution Agreement with Cornell Capital Partners, LP. The "Effective Date" of the Standby Equity Distribution Agreement will be the date on which the Securities and Exchange Commission declares effective a registration statement that will permit Cornell Capital Partners to resell Headliners shares to the public. The Standby Equity Distribution Agreement provides that during the two years commencing on the Effective Date Headliners may demand that Cornell Capital Partners purchase shares of common stock from Headliners. Headliners may make a demand no more than once every five trading days. The maximum purchase price on each demand is $500,000. The aggregate maximum that Headliners may demand from Cornell Capital Partners is $30,000,000. The number of shares that Cornell Capital Partners will purchase after a demand will be determined by dividing the dollar amount demanded by a per share price. The per share price used will be 98% of the lowest daily volume-weighted average price during the five trading days that follow the date a demand is made by Headliners. Cornell Capital Partners is required by the Agreement to pay each amount demanded by Headliners, unless (a) there is no prospectus available for Cornell Capital Partners to use in reselling the shares, (b) the purchase would result in Cornell Capital Partners owning over 9.9% of Headliners outstanding shares, or (c) the representations made by Headliners in the Agreement prove to be untrue.
 

18.03.05 17:15

4101 Postings, 5761 Tage IDTE2und wieder 25% verloren

seh ich richtig, dass die auf 3$ getaxt sind und das nächste bid zu 2,40 drin steht?

Also jeder, der noch ne dreistellige summe dort drin hat, sollte schleunigst verkaufen. Das ist ne absolute Bude!  

18.03.05 17:55

552 Postings, 6011 Tage congagestern Hi/Lo 2.00$/4.00$ bei vier trades :-) o. T.

30.03.05 09:13

375 Postings, 6089 Tage timmlebt noch + 30% und NEWS

Press Release Source: Microsoft Corp.


Microsoft Launches Online Video Service for Windows Mobile-Based Devices
Wednesday March 30, 12:01 am ET  
- MSN Video Downloads Delivers Food Network, FOX Sports, Children's Programming, News and More for Portable Media Centers and Select Smartphones and Pocket PCs


REDMOND, Wash., March 30 /PRNewswire-FirstCall/ -- Microsoft Corp. (Nasdaq: MSFT - News) today announced the launch of MSN® Video Downloads, which will provide daily television programming, including video content from MSNBC.com, Food Network, FOX Sports and IFILM Corp., for download to Windows Mobile(TM)-based devices such as Portable Media Centers and select Smartphones and Pocket PCs.
(Logo: http://www.newscom.com/cgi-bin/prnh/20000822/MSFTLOGO )

Since the launch of the Microsoft® Windows Mobile-based Portable Media Center last fall, more than 20 new content partners, including CinemaNow Inc., MLB.com, MSNBC.com, MSN Music, MTV Networks Music, Napster Inc., SnapStream Media Inc. and TiVo Inc., have agreed to make video available online specifically formatted for Windows Mobile-based multimedia devices.

"The launch of Portable Media Centers in 2004 began a new era of portable entertainment, and today's announcement solidifies the continued momentum we've seen for portable video," said John Pollard, director of Windows Mobile Applications and Services Marketing at Microsoft. "With content from some of the most recognized brands in entertainment, MSN Video Downloads helps bring this vision to life, allowing people to take their favorite television shows with them whether they are on the train, waiting for a doctor's appointment, or keeping the kids occupied in the back seat of the car."

"Readily available digital video content remains a key driver for the portable multimedia player market," said Josh Martin, associate research analyst at IDC. "The proliferation and growth of video service providers will serve to fill the existing video content void and increase adoption of portable multimedia players such as Windows Mobile-based devices."

MSN Video Downloads: Keeping People Informed and Entertained Anywhere

MSN Video Downloads is available in the United States today at http://www.msnvideodownloads.com . A one-year premium membership to the MSN Video Downloads service with access to all available videos is $19.95 (U.S.). In addition, people can access a limited amount of free content without a paid membership.

The MSN Video Downloads service is designed to keep people better entertained and informed, wherever and whenever they want. With great content provided daily, such as sports highlights, news headlines, children's programming, music videos, independent films and comedy shows, MSN Video Downloads is one of the first online video download services dedicated to portable entertainment. In its debut, the MSN Video Downloads service was previewed at the 2005 International Consumer Electronics Show in January.

People subscribing to the premium service will be able to select the content they want to receive from the Web site. Digital videos are downloaded daily to a Windows Media® Player 10 library, ready to be synchronized with Portable Media Centers and other devices. The video content is compliant with PlaysForSure(TM) devices that play video, and is optimized for Portable Media Centers and compatible with Smartphones and Pocket PCs that support Windows Media Player 10 Mobile.

New with the final launch of the service is the ability to select the specific content downloaded to the subscriber's Windows® XP-based PC each day. Subscribers can also activate a new automatic deleting feature that specifies how long video from the MSN Video Downloads directory will remain on their PC, thus avoiding a large backlog of clips.


   The following programming will be available on MSN Video Downloads:

   -- MSNBC.com. News and business headlines updated throughout the day, as
      well as segments from "Today"
   -- BreakTV. Behind-the-scenes footage and exclusive interviews with
      television's hottest celebrities
   -- COOKIE JAR Entertainment Inc., a global producer and marketer of
      children's entertainment, offering children's programs such as
      "Paddington Bear," "Animal Crackers" and many other popular kids'
      television series
   -- DIY Network. Videos about home improvement, crafts, hobbies, indoor-
      outdoor living, and kitchen and bath remodeling
   -- FINE LIVING TV Network. Inspiring programs featuring travel
      destinations, mind and body enrichment, ideas for entertaining and home
      design as well as videos for automobile enthusiasts
   -- FOX Sports. In-depth news, analysis and unparalleled national and
      regional coverage of the National Football League, Major League
      Baseball, NASCAR, the National Basketball Association, and select
      college basketball and football highlights, as well as FOX Sports Net
      original programming including "The Best Damn Sports Show Period" and
      "Beyond the Glory"
   -- Food Network. Fun and interesting videos featuring grilling tips, ideas
      for entertaining, healthy eating, quick-and-easy recipes and pop-
      culture food specials
   -- Fun Little Movies. Specializing in original, live-action comedy
      content; new "Fun Funny Phone Films" including the following series:
      humorous headlines in "Comedy USA," sci-fi parody "Spacey Movie," and
      the "Mini-Bikers," where little people on little motorcycles fight
      crime, a little at a time
   -- Headliners Entertainment Group Inc. (OTC Bulletin Board: HLEG - News), the
      operator of Rascals Comedy Clubs, presenting a selection of comedy
      clips from Rascals Comedy Classics, including performances from popular
      stars such as Tim Allen, Rosie O'Donnell, Drew Carey and Ray Romano;
      only Rascals can bring viewers comedy superstars, before they were
      stars, and the breaking stars of tomorrow, today
   -- Home & Garden Television (HGTV). Selected programs featuring
      remodeling, home-building, design and decorating, kitchen and bath to
      enhance a home's curb appeal
   -- IFILM. Movie trailers, viral videos, short films and other IFILM-
      exclusive content
   -- TotalVid. Deep selection of action sports clips including surfing,
      snowboarding, skiing, windsurfing, street racing, kiteboarding,
      skateboarding, climbing, kayaking, off-road, Moto X, mountain biking,
      inline skating, BMX and more
   -- Want Media. Music videos, live concerts, Broadway shows, extreme sports
      and motor sports programs, full-length films from independent
      filmmakers and underground cinema

   The following are content partners for Windows Mobile-based devices:

   -- ATI Technologies
   -- BreakTV*
   -- CinemaNow Inc.
   -- COOKIE JAR*
   -- DIY Network
   -- FINE LIVING TV Network*
   -- Food Network*
   -- FOX Sports*
   -- Hauppauge Computer Works Inc.
   -- Headliner Entertainment Group*
   -- HGTV*
   -- IFILM*
   -- MediaPass Network LLC
   -- MLB.com
   -- MSN Music
   -- MSNBC.com*
   -- MTV Networks
   -- Napster
   -- NVIDIA
   -- Pinnacle Systems Inc.
   -- SnapStream Media Inc.
   -- TiVo Inc.
   -- TotalVid*
   -- Want Media*
   -- watchmusichere.com

   About Windows Mobile
Windows Mobile software for Pocket PCs, Smartphones and Portable Media Centers reduces the complexity and constraints that hobble the flow of personal and business communications while also enabling people to enjoy rich media experiences. With Windows Mobile, individuals and organizations are empowered to achieve their productivity goals and also realize the excitement of the digital lifestyle -- from music and memories to television, movies, gaming and communication. More information can be found at http://www.windowsmobile.com .

About Microsoft

Founded in 1975, Microsoft is the worldwide leader in software, services and solutions that help people and businesses realize their full potential.

* Content provider for MSN Video Downloads service

NOTE: Microsoft, MSN, Windows Mobile, Windows Media, PlaysForSure and Windows are either registered trademarks or trademarks of Microsoft Corp. in the United States and/or other countries.

The names of actual companies and products mentioned herein may be the trademarks of their respective owners.




--------------------------------------------------
Source: Microsoft Corp.  

30.03.05 09:15

32039 Postings, 6517 Tage Börsenfanhab noch 4350 Stück, letztens kam ein Brief

von der Bank, Split 1000 : 1, mal schauen, dann hab ich noch knapp 4 Aktien von der Bude...    

01.04.05 16:52

47 Postings, 6028 Tage Student01Ich hab

jetzt 6,9 Aktien....das Ding kann man in ne Tonne treten. Die bleibt bei mir als Warnung nicht nochmal so nen Scheiss zu kaufen im Depot.  

01.04.05 17:20

32039 Postings, 6517 Tage Börsenfanhahaha,

hab jetzt noch 4 Aktien zu 2,00 EUR, das sind 8 EUR, einst waren es mal 800 EUR. So ein Schrott...  

05.04.05 11:15

375 Postings, 6089 Tage timm+44% naja wenigstens bewegt es sich

Form 8-K for HEADLINERS ENTERTAINMENT GROUP, INC.


--------------------------------------------------

4-Apr-2005

Sale of Equity, Financial Statements and Exhibits



Item 3.02 Unregistered Sale of Equity Securities
On March 29, 2004 Headliners entered into a Consolidated Acquisition Agreement with Paul Butler and JHF Properties, LLC. The Consolidated Acquisition Agreement terminated and replaced the Properties Acquisition Agreement - Butler and Project Acquisition Agreement with those same parties, both dated June 23, 2004.

On March 31, 2005, pursuant to the Consolidated Acquisition Agreement, Headliners acquired all of the right, title and interest in five limited liability companies. Each of the limited liability companies operates an entertainment complex consisting of a dance club and other facilities, one each in Cincinnati, Kansas City, Tucson, Jackson and Omaha. The Consolidated Acquisition Agreement also provides for a second closing at which Headliners will acquire ownership of a sixth limited liability company, which operates an entertainment complex in Louisville. The second closing will occur after Butler and JHF have obtained $2,300,000 from the sale of Headliners common stock.

Headliners' payment for the six companies consists of $2,240,000 previously paid to JHF Properties by Headliners and a 0% convertible debenture due on March 31, 2008 in the principal amount of $5,000,000. The debenture is convertible into Headliners common stock at the market price at the time of conversion.

The Consolidated Acquisition Agreement also provides for the construction by JHF of a seventh entertainment complex, the new complex to be located in Hampton VA. At the closing Headliners paid a fee of $1,400,000 in cash for the Virginia project. Title to the Virginia project will pass to Headliners after it is constructed and after JHF and Butler have obtained $1,300,000 from the sale of Headliners common stock.

The Consolidated Acquisition Agreement contains provisions under which JHF will manage the seven properties and any properties subsequently constructed by Headliners and JHF. In payment for the management services, Headliners has issued to JHF Headliners common stock with a market value of $2,300,000. Headliners has committed that if the proceeds realized by JHF from selling the shares are less than $2,300,000, Headliners will issue additional shares until JHF realizes $2,300,000 in proceeds. In addition, Headliners will pay JHF a weekly fee of $15,938 plus a monthly office rental of $15,000. To secure the payments as well as to secure $3,000,000 payable pursuant to the 0% Convertible Debenture, Headliners has pledged its interest in the limited liability companies operating in Cincinnati, Kansas City and Tucson.





Item 9.01 Financial Statements and Exhibits
Financial Statements

Audited financial statements of the five properties acquired on March 31, 2005 will be filed by amendment, along with pro forma financial statements of Headliners Entertainment Group, Inc.


Exhibits  

05.04.05 22:11

47 Postings, 6028 Tage Student01Reward loyal shareholders....das ich net lache

Ed Rodriguez, Headliners Chairman and CEO, made the following comments:

``The addition of these six clubs, in six cities where we have never been before (Cincinnati OH, Jackson MS, Tucson AZ, Omaha NE, Kansas City MO, Louisville KY), instantly gives Headliners a nationwide presence and new respect in the industry. It is our intention to build on this base and create a major entertainment complex to reward our loyal shareholders.''  

06.04.05 11:01

375 Postings, 6089 Tage timmNEWS

Press Release Source: Headliners Entertainment Group, LLC


Headliners Entertainment Group Completes Acquisition
Tuesday April 5, 6:45 am ET


MONTCLAIR, N.J., April 5, 2005 (PRIMEZONE) -- Headliners Entertainment Group, Inc. (OTC BB:HLEG.OB - News) announced today that, it has completed the acquisition of 6 night clubs. The clubs add $14 million in annual revenues and a 15% pretax profit to our bottom line.
ADVERTISEMENT


Ed Rodriguez, Headliners Chairman and CEO, made the following comments:

``The addition of these six clubs, in six cities where we have never been before (Cincinnati OH, Jackson MS, Tucson AZ, Omaha NE, Kansas City MO, Louisville KY), instantly gives Headliners a nationwide presence and new respect in the industry. It is our intention to build on this base and create a major entertainment complex to reward our loyal shareholders.''

About Headliners Entertainment Group Inc.:

Headliners owns and operates Rascals Comedy Club, one of the premier comedy clubs in the United States, drawing upon its respected national recognition and rich history of providing the highest quality comedic entertainment in the industry.

The company prides itself on its ability to employ successful entertainers at its growing chain of venues, both in its stand-alone and hotel-based operations. The company also owns 6 dance clubs to add to its revenue.

For further information, visit http://www.rascals.net or contact Ed Rodriguez at 973-233-1233.

The information in this Press Release includes certain ``forward-looking'' statements within the meaning of the Safe Harbor provisions of Federal Securities Laws. Investors are cautioned that such statements are based upon assumptions that in the future may prove not to have been accurate and are subject to significant risks and uncertainties, including the future financial performance of the Company. Although the Company believes that the expectations reflected in its forward-looking statements are reasonable, it can give no assurance that such expectations or any of its forward-looking statements will provide to be correct. Factors that could cause results to differ include, but are not limited to successful performances of internal plans, the impact of competitors, and general economic risks and uncertainties.


 

09.04.05 15:41

375 Postings, 6089 Tage timmNEWS

Press Release Source: Headliners Entertainment Group, LLC


Headliners Entertainment Group Moving Into Multi-Media Markets and New Broadcast Technologies
Friday April 8, 6:30 am ET


MONTCLAIR, N.J., April 8, 2005 (PRIMEZONE) -- Headliners Entertainment Group, Inc. (OTC BB:HLEG.OB - News) announced today the opening of its new office in Los Angeles, California and its new partner, twenty-year veteran TV producer and national headlining comedian Brian Sheil.
ADVERTISEMENT


Brian brings his extensive television experience to develop Live From Rascals Comedy Clubs for Multi-Media Markets and Emerging New Broadcast Technologies.

Brian Sheil has produced shows for Headliners utilizing the extensive Rascals Comedy Hour library and developing new comedic talent for television.

Rascals Comedy Hour gives you the past, present and future of standup comedy. Over 200 hours of classic comedy. Drew Cary, Tim Allen, Sinbad, Rosie O'Donnell, Bret Butler, Dennis Leary, Dice Clay, Jackie Martling, Rich Jeni, Jeff Foxworthy, just to name a few.

A twenty year veteran of television production Brian Sheil remains a current force in entertainment today, writing and producing content for a variety of shows including: Rascals Comedy Hour, USA Studios Laughter Hours, MTV Snoop Fizzle Televizzle. All Comedy Radio, VH-1 Stand-Up Spotlight VH-1 Warren Zevon Documentary, Date my Mom MTV, Soapwatch.tv, The Comedy and Magic Club's 24th 25th & 26th Birthday Bash, Rock & Roll Fantasy Camp with Rodger Daultry, and Nickelodeon Kid's Choice Awards.

Technical director and production supervisor for Global Entertainment Networks, Brian was responsible for all facets of production for live comedy, musical concerts, and satellite broadcast from The Staples Center LA, The Taj Mahal Atlantic City, Georgia World Congress, The Pepsi Arena, The Meadowlands, Westbury Music Fair and many more.

 

12.04.05 09:42

375 Postings, 6089 Tage timmNEWS neues Büro in LA

Apr 11, 2005 (financialwire.net via COMTEX) -- April 11, 2005 (FinancialWire)
Headliners Entertainment Group, Inc. (OTCBB: HLEG) said it has opened a new
office in Los Angeles, with a new partner, twenty-year veteran TV producer and
national headlining comedian Brian Sheil.

Sheil brings his extensive television experience to develop Live From Rascals
Comedy Clubs for Multi-Media Markets and Emerging New Broadcast Technologies.

Sheil has produced shows for Headliners utilizing the extensive Rascals Comedy
Hour library and developing new comedic talent for television.

Rascals Comedy Hour offers the past, present and future of standup comedy. Over
200 hours of classic comedy. Drew Cary, Tim Allen, Sinbad, Rosie O'Donnell, Bret
Butler, Dennis Leary, Dice Clay, Jackie Martling, Rich Jeni, Jeff Foxworthy,
just to name a few.

A twenty year veteran of television production Sheil remains a current force in
entertainment today, writing and producing content for a variety of shows
including: Rascals Comedy Hour, USA Studios Laughter Hours, MTV Snoop Fizzle
Televizzle. All Comedy Radio, VH-1 Stand-Up Spotlight VH-1 Warren Zevon
Documentary, Date my Mom MTV, Soapwatch.tv, The Comedy and Magic Club's 24th
25th & 26th Birthday Bash, Rock & Roll Fantasy Camp with Rodger Daultry, and
Nickelodeon Kid's Choice Awards.

Technical director and production supervisor for Global Entertainment Networks,
Sheil was responsible for all facets of production for live comedy, musical
concerts, and satellite broadcast from The Staples Center LA, The Taj Mahal
Atlantic City, Georgia World Congress, The Pepsi Arena, The Meadowlands,
Westbury Music Fair and many more

Headliners Entertainment is enrolled in Investrend Research's unique and
pioneering professional analyst program, which facilitates independent analysts
to provide financial coverage for shareholders and investors in companies that
otherwise would have little or no analyst following. Enrollment in
standards-based research is an important measure of a company's commitment to
transparency and Good Governance.

In an update on February 22, 2005, Investrend Research Analyst Gary Vassalotti
rated the company a " Speculative Buy / 4," and assigned it a 12-month
target valuation of $0.04.
 

18.04.05 13:13

375 Postings, 6089 Tage timmNEWs Annual Report



Form 10KSB for HEADLINERS ENTERTAINMENT GROUP, INC.


--------------------------------------------------

15-Apr-2005

Annual Report



Item 6. MANAGEMENT'S DISCUSSION AND ANALYSIS OF RESULTS OF OPERATIONS AND FINANCIAL CONDITION
Results of Operations

At the beginning of 2002 Headliners embarked on a new business plan. From its founding in 1984 through 2001, Headliners' business consisted entirely of the operation of stand-alone restaurant/comedy club facilities: two in New Jersey since the 1980s and one that we operated in Miami, Florida for only a year. In 2002 we began to develop alternative locations for Rascals' comedy by organizing hotel-based clubs and by granting licenses to utilize the name "Rascals." We also began to develop multiple channels of distribution for the comedic entertainment produced in our clubs, such as home video sales and pay-per-view sales. As the year progressed, however, it became apparent that our efforts in developing and managing these multiple channels of distribution, though profitable, were not cost-effective. So, in the third quarter of 2002 we refocused our attention on the development of new Rascals clubs, both hotel-based and licensed. Our focus today is on developing a sufficient number of clubs to achieve an efficient level of operations.

Recently we have expanded our new direction from hotel-based clubs to clubs in entertainment venues, where a large, pre- existing clientele can be converted into customers of our club. As our first effort in this new type of environment, in December 2003 we signed a ten year lease for 7,000 square feet in the Palisades Center, the second largest retail mall in the United States. Although we did not at that time have the funds needed to build the club, we committed to the lease with the expectation that our Standby Equity Distribution Agreement with Cornell Capital Partners would provide us the necessary capital. We are currently building a 350-seat comedy club in the Palisades Mall that we expect to open in the Spring of 2005.

The most dramatic example of our new focus on entertainment venues is our acquisition in March 2005 of six dance clubs, two of which contain Rascals comedy clubs. We acquired the clubs from JHF Properties LLC, which is the developer of a chain of dance clubs that operate under one of the followings trade names:
"Banana Joe's,""Margarita Mama's," "Red Cheetah," "Parrot Beach" or "Cactus Cafe."

During 2004 we owned only a passive interest in three of those clubs. Therefore, for 2004, we did not consolidate their results with our financial statements. Instead we accounted for our investment in these clubs using the cost method. We adopted this method of accounting for the investments because we did not exercise significant influence over the operations of the clubs in 2004. Since March 31, 2005, however, we have owned five of the clubs and have held the rights to the net profits of a sixth. Beginning in the second quarter of 2005, therefore, we will consolidate the financial results of the clubs with our other operations. This will result in a significant increase in our revenues, as the six clubs reported $11,353,827 in revenue for 2004, although three of the clubs only commenced operations in Spring of that year.


-9-
While we have been undertaking these capital intensive efforts to increase the number of our clubs, we have also been offering licensing arrangements that will increase the numbers of Rascals Comedy Clubs with minimal capital commitment by Headliners. Our first such licensing arrangement permitted our licensee to open a 300-seat "Rascals Comedy Club" in Jersey City, New Jersey during the first quarter of 2004. Headliners provides the group with its plans and designs for the club, consulted with the group during the development stage, and is providing bookings for a fee. In return, the licensee pays a monthly royalty to Headliners equal to five percent of its gross receipts throughout the ten-year term of the license. During 2004 the Jersey City club had paid us only $12,500, and we anticipate that our revenue from this arrangement will remain modest. However, almost all of the revenue flows through to our bottom line, since we have no operational responsibility for the club, and it has been achieved with no capital commitment.

In 2003 86% of our revenue came from the two New Jersey restaurant-clubs that we have operated since the 1980s. However we closed our restaurant-club in West Orange NJ in the summer of 2003, and closed our restaurant-club in Ocean NJ in May 2004. On our statement of operations for 2004 and 2003, therefore, the results of the operations of these two facilities have been summarized as "Discontinued Operations." The "Continuing Operations" reflected on our Statement of Operations consists only of:

* our hotel-based club in Cherry Hill NJ, which has been contributing to revenue since December 2002;
* our restaurant and club in Montclair NJ in June, which has been contributing to revenue since June 2004; and
* our video licensing activities, which have made a modest contribution to revenue since 2002.

The discontinuance of the operations of our principal clubs in 2003 has resulted in marked differences in the results of operations for 2004 compared to the results for 2003. The $1,317,898 in net sales and $582,687 in cost of sales reported for 2004 are attributable to the operations of both the new Montclair club and restaurant and our club at the Cherry Hill Hilton. The $264,317 in net sales and $145,465 in cost of sales reported for 2003 were contributed by the Cherry Hill club only.

The transitions in our business plan have resulted in a marked disparity between revenues and expenses. In 2004 we incurred general and administrative expenses totaling $9,445,982, including $3,650,133 in expenses that were or will be settled in


-10-
cash and $5,795,849 in expenses that we settled by issuance of stock. The dramatic increase in general and administrative expenses reflects, in part, the fact that in the second quarter of 2004 we received cash from loans and private sales of stock totaling $4,740,000. A portion of the recent general and administrative expense represents expenses we incurred in obtaining these funds that are not capital expenses. Another, larger portion of the general and administrative expenses occurred as we promptly utilized a portion of the funds we had raised to implement growth strategies for the future. Finally, our lack of cash requires us to pay with stock both our executives and the network of individuals who are assisting us in developing and implementing our business plan, which results in a large expense for "stock issued for consulting services."

In 2005 we expect a number of new revenue sources to contribute to our financial results. The components of revenue in 2005 will include:

(1) Cherry Hill. We are now realizing approximately $22,000 per month in revenue from our Cherry Hill hotel-based operation, which commenced operations in December 2002. Although this sales level is far lower than the levels we maintained in West Orange or Ocean, we generate it with only one full-time and three part-time employees (compared to dozens at our restaurant- club combinations). So we are realizing an average monthly profit in Cherry Hill of approximately $13,000.

(2) Montclair. To replace our West Orange and Ocean restaurant-clubs, in June 2004 we opened a 13,000 square foot restaurant and comedy club in Montclair, New Jersey. The restaurant and bar in our Montclair facility seats 150, and the showroom seats 400. The property was initially owned by a separate corporation organized by members of Headliners' management. In October 2004, however, they contributed their ownership interest in that corporation to Headliners.

(3) Dance Clubs. The six dance clubs that we acquired in March 2005 generated $11,353,827 in revenue and $415,917 in net income in 2004. The three most profitable of the clubs, those in Louisville, Jackson and Omaha, were in operation for only a portion of 2004. So we expect results for 2005 to be an improvement over 2004. Commencing in the second quarter of 2005, those results will be consolidated with our other operations.

(4) Palisades Center. We expect this club to open to begin to contribute to our revenue in the second quarter of 2005.

These new directions in our operations bode well for the future. So while 2004 was a year of transition, our goal is to return to profitability in 2005. We believe that is an achievable goal.


-11-
Liquidity and Capital Resources

In order to obtain the funds necessary to acquire our six new dance clubs and construct our facilities in Montclair and the Palisades Center, we have borrowed nearly $10 million from Cornell Capital Partners. At December 31, 2005, we owed Cornell Capital Partners $3,025,000. Today the debt totals $7,500,000, consisting of two notes. One note, for $4,500,000, requires Headliners to make monthly payments of $750,000 plus interest, commencing on August 25, 2005. If Headliners defaults in making any payment, Cornell Capital Partners will be entitled to convert the note into common stock at a conversion price equal to the lesser of $12.00 or 80% of the then-current bid price. The note is secured by a pledge of all of Headliners' assets. The second note, for $3,000,000, provides that Headliners will make monthly principal payments of $100,000 plus accrued interest commencing on May 23, 2005. Headliners' obligation is secured by a pledge of all of its assets. Headliners also pledged 100,000,000 shares of its common stock to secure its obligations under the second note.

In order to satisfy our debt to Cornell Capital Partners we have entered into a "Standby Equity Distribution Agreement" with Cornell Capital Partners. The Standby Equity Distribution Agreement becomes effective when we provide Cornell Capital Partners with a prospectus that will permit it to resell to the public any shares it acquires from Headliners. During the two years after the Securities and Exchange Commission declares that prospectus effective, Headliners may demand that Cornell Capital Partners purchase shares of common stock from Headliners. Headliners may make a demand no more than once every seven trading days. The maximum purchase price on each demand is $500,000. The Standby Equity Distribution Agreement recites that Headliners may demand from Cornell Capital Partners up to $30,000,000 during its term. The number of shares that Cornell Capital Partners will purchase after a demand will be determined by dividing the dollar amount demanded by a per share price. The per share price used will be 98% of the lowest daily volume- weighted average price during the five trading days that follow the date a demand is made by Headliners. Cornell Capital Partners is required by the Agreement to pay each amount demanded by Headliners, unless (a) there is no prospectus available for Cornell Capital Partners to use in reselling the shares, (b) the purchase would result in Cornell Capital Partners owning over 9.9% of Headliners outstanding shares, or (c) the representations made by Headliners in the Agreement prove to be untrue.

Our plan is to sell common stock to Cornell Capital Partners in order to meet our debt service obligations. This will result in a significant increase in our outstanding common stock. At the market price of $4.38 per share on April 12, 2005, satisfaction of our entire debt to Cornell Capital Partners would require that we issue approximately 1,750,000 shares. However, the influx of shares in that quantity into the market is likely to result in a reduction in the market price for our common stock. Therefore it is likely that considerably more shares will have to be sold in order to satisfy our obligations to Cornell Capital Partners.


-12-
With the proceeds of our sale of notes to Cornell Capital Partners, we have substantially alleviated our capital commitments. Nevertheless, in addition to the ongoing expenses of operating its business, Headliners faces the following cash commitments:

* We are currently building our new club in the Palisades Center in Nyack NY. We expect that completion of the club will require approximately $750,000, most of which we have reserved from our most recent transaction with Cornell Capital Partners. Once the club opens, it will require some capital to pay start-up costs until it achieves break-even operations. Our lease for the facility requires that we pay an annual rental equal to the sum of $119,000 plus 8% of our gross receipts in excess of $1.5 million plus an allocated portion of common area expenses and taxes. However, as the landlord has provided us a rent abatement equal to approximately one year's lease costs, we do not anticipate a significant immediate capital requirement beyond the costs of completing the build-out.

* We have a management services agreement with JHF Properties LLC, under which JHF Properties is managing our six new dance clubs. In compensation for its services, we have issued and will continue to issue common stock to the owner of JHF Properties. The management services agreement provides that if JHF Properties obtains less than $2,300,000 in proceeds from the sale of that common stock during the next year, it may call upon Headliners to pay the shortfall in cash at certain times during the year. If Headliners fails to do so, JHF Properties may terminate the arrangements under which it is required to transfer to Headliners the new facility in Hampton VA and/or the existing facility in Louisville KY.

* We had over $2.4 million in accounts and notes payable on December 31, 2004, not including the notes payable to Cornell Capital Partners that totaled $3,025,000 on that date (subsequently increased to $7,500,000). We do not expect that cash flow from operations will, in the near term, effect any significant reduction in our accounts and notes payable. Therefore we will either need to obtain extended payment terms from our creditors or we will have to obtain additional capital to pay those creditors whose debts are most pressing.

Once we have passed the current period of rapid expansion, our capital requirements will be much easier to control. Once clubs are established, they either operate profitably or they are closed. So the capital requirements of ongoing operations should not be significant. Our plan is to continue to expand, but at a pace commensurate with available capital and capital commitments, either from equity sources or secured lending sources that should become available once we have a portfolio of assets to offer as collateral.


-13-
Critical Accounting Policies and Estimates

In preparing our financial statements we are required to formulate working policies regarding valuation of our assets and liabilities and to develop estimates of those values. In our preparation of the financial statements for 2004, there were two estimates made which were (a) subject to a high degree of uncertainty and (b) material to our results. One was our determination, detailed in Note 11 to the Consolidated Financial Statements, that we should record a valuation allowance for the full value of the deferred tax asset created by our net operating loss carryforward. The primary reason for the determination was our lack of certainty as to if and when Headliners would commence profitable operations. A second was our determination, detailed in Note 4 to the Consolidated Financial Statements, that we should write-off $1,958,510 in prepaid consulting at December 31, 2004. The primary reason for that determination was our uncertainty as to whether we would continue to receive economic benefit from the consulting contracts.

We have made no material changes to our critical accounting policies in connection with the preparation of financial statements for 2004.

Off-Balance Sheet Arrangements

We do not have any "off-balance sheet arrangements," as defined in the Regulations of the Securities and Exchange Commission.

Risk Factors That May Affect Future Results

Our expectations regarding the future of Headliners will be realized only if we are able to avoid the adverse effects of many risks and contingencies. You should carefully consider the risks described below before buying our common stock. If any of the risks described below actually occurs, that event could have a substantial adverse effect on our future financial results. Those adverse results, in turn, could cause the trading price of our common stock to decline, and you could lose all or part of your investment.

I. RISKS ATTENDANT TO OUR BUSINESS


WE MAY NOT BECOME PROFITABLE.
Headliners Entertainment Group has incurred substantial operating losses during the past three years. In order to achieve profitability it will be necessary that we either expand operations to a point sufficient to cover overhead or establish new sources of revenue. Failing such developments, it is likely that we will continue to sustain net losses.


-14-

WE MAY BE UNABLE TO SATISFY OUR CURRENT DEBTS.
We currently owe Cornell Capital Partners $7,500,000 and have other debts and liabilities in excess of $3,000,000. The cash flow from our operations is not sufficient to service those debts. So we will be required to sell large amounts of our common stock in order to satisfy those debts. If we are unable to do so, our business will fail.


CURRENT SHAREHOLDERS WILL SUFFER DILUTION AS A RESULT OF OUR
FINANCING ACTIVITIES.
If we are able to sell equity in Headliners Entertainment Group and raise the capital we need to pay our debts, it is almost certain that the sale will occur at a price which is less than the market price for our common stock when the sale occurs. For example, our equity line of credit agreement with Cornell Capital Partners provides that we will sell shares to that entity at a price equal to 98% of the lowest daily volume-weighted average price during the five trading days after we put the shares to them. Because the market price of our shares is volatile, the price at which we sell to Cornell has to date generally been 80% to 90% of the market price on the date we made the put. In addition, we pay fees totaling 8% of the purchase price in connection with each put to Cornell, with the result that we generally obtain only 70% to 80% of the market price for shares we sell to Cornell Capital Partners.

Other terms may be negotiated with investors which could have the effect of diluting the interest of current shareholders in the equity of Headliners Entertainment Group. For example, in May, June and July 2004, our relationship with JHF Properties would have terminated if we could not obtain immediate funds to satisfy our commitment to JHF Properties. The only offers we received at that time were from 31 investors who agreed to purchase shares for prices that ranged from 20% to 50% of the market price when the sales were effected. If such an urgent need for cash were to occur in the future, we might again be forced to sell our equity at below-market prices. Our Standby Equity Distribution Agreement with Cornell Capital Partners provides that Headliners is not permitted to sell its common stock at prices below the public bid. However, Cornell Capital Partners has waived that provision in the past, and may do so in the future if Headliners requires capital funds that can only be obtained by a below-market sale of equity. Such sales would dilute the equity of existing shareholders.


COMPETITION FROM WELL-CAPITALIZED COMPANIES INVOLVED IN THE
COMEDY CLUB BUSINESS COULD HINDER OUR GROWTH.
The comedy club business is dominated by a small number of well-known, well-financed companies. As we seek advantageous locations for our clubs, we may face competition from one or more of these competitors. If one of these well-established competitors were to make a concerted effort to secure a location, it would be very difficult for us to compete effectively. This may limit our access to business opportunities.


-15-

LIABILITY FROM LAWSUITS BASED ON "DRAM SHOP" LAWS COULD
EXCEED OUR INSURANCE COVERAGE.
In most states where Headliners locates clubs, there will be liquor liability ("dram shop") laws. These laws vary from state to state. In general, dram shop laws impose liability on the proprietor of an establishment for damage caused by a customer of the establishment, if the service of alcoholic beverages by the establishment to that customer was a cause of the damage and the establishment service was negligent or otherwise culpable. Since we will serve alcoholic beverages in all of our clubs, we will be subject to the risk that lawsuits arising under dram shop laws could produce judgments that exceed our insurance coverage and imperil our capital.

II. RISKS ATTENDANT TO OUR MANAGEMENT


OUR BUSINESS DEVELOPMENT WOULD BE HINDERED IF WE LOST THE
SERVICES OF OUR PRESIDENT.
Eduardo Rodriguez is the President of Headliners Entertainment Group. Mr. Rodriguez is the only executive employed on a full-time basis by Headliners Entertainment Group. Mr. Rodriguez is responsible for strategizing not only our business plan but also the means of financing it. If Mr. Rodriguez were to leave Headliners Entertainment Group or become unable to fulfill his responsibilities, our business would be imperiled. At the very least, there would be a delay in the development of Headliners Entertainment Group until a suitable replacement for Mr. Rodriguez could be retained.

SINCE THE SIX DANCE CLUBS THAT WE RECENTLY OBTAINED REPRESENT THE LARGEST PORTION OF OUR BUSINESS, OUR SUCCESS WILL DEPEND ON THE MANAGEMENT SKILLS OF THE INDIVIDUALS WHO NOW MANAGE THOSE DANCE CLUBS.

In March 20005 we acquired six dance clubs and paid a $1.4 million fee to build one additional club. The revenue from those clubs will far exceed the revenue we now realize from our comedy clubs. However, neither of our present officers has any experience in the business of operating dance clubs. We will, therefore, rely on the company from which we are acquiring the dance clubs to provide us sound management in the future. If its services became unavailable, or if its management decisions were unsound, it would have a serious adverse effect on our business.


HEADLINERS ENTERTAINMENT GROUP IS NOT LIKELY TO HOLD ANNUAL
SHAREHOLDER MEETINGS IN THE NEXT FEW YEARS.
Delaware corporation law provides that members of the board of directors retain authority to act until they are removed or replaced at a meeting of the shareholders. A shareholder may petition the Delaware Court of Chancery to direct that a


-16-
shareholders meeting be held. But absent such a legal action, the board has no obligation to call a shareholders meeting. Unless a shareholders meeting is held, the existing directors elect directors to fill any vacancy that occurs on the board of directors. The shareholders, therefore, have no control over the constitution of the board of directors, unless a shareholders meeting is held.

Since it became a public company in 1999, Headliners Entertainment Group has never held an annual or a special meeting of shareholders. The Board of Directors of Headliners Entertainment Group consists of the same individuals who served in 2000. Management does not expect to hold annual meetings of shareholders in the next few years, due to the expense involved. Therefore, any new members of the Board of Directors or any replacements for current members will be nominated and elected by the present members of the Board.


RELATED PARTY TRANSACTIONS MAY OCCUR ON TERMS THAT ARE NOT
FAVORABLE TO HEADLINERS ENTERTAINMENT GROUP.
The two members of our Board of Directors, Eduardo Rodriguez and Michael Margolies, directly and through their families, control 59% of the voting power of Headliners Entertainment Group. For the foreseeable future, therefore, they will control the operations of Headliners Entertainment Group. In the past they have been the Managers of limited liability companies that were senior secured creditors of Headliners and that owned the properties where Headliners' New Jersey restaurant clubs operated. It is possible that they will engage in other transactions with Headliners Entertainment Group. It is unlikely that they will obtain independent confirmation that the terms of such related party transactions are fair. If the terms are unfair to Headliners Entertainment Group, the transactions could harm our operating results.



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18.04.05 13:16

375 Postings, 6089 Tage timmNEWS Agreement with Emerging Web-Based Broadcast

Headliners Entertainment Group Signs Agreement with Emerging Web-Based Broadcast Entertainment Channel-TVNet.net
Monday April 18, 6:45 am ET
Rascal's Before They Were Stars Comedy Classics Now Available on PCs and Wireless Devices


MONTCLAIR, N.J., April 18, 2005 (PRIMEZONE) -- Headliners Entertainment Group, Inc. (OTC BB:HLEG.OB - News) announced today that it has entered into an agreement with the Internet's premiere wired and wireless entertainment group- TVNET.net (http://www.tvnet.net). Per this agreement, Headliners will provide TVNET.net with high-resolution video of its Rascal's Comedy Classics and Rising Stars library content, which TVNET.net will market through different portals and to various broadcast mediums. In return, Headliners will receive an equity percentage of TVNET.net's advertising revenues.
ADVERTISEMENT


TVNET.net, a veritable Internet-based broadcast entertainment channel, specializes in producing and aggregating various content that is marketed to the personal computer-via the many emerging portal or destination websites-as well as to PMCs, PDAs and other handheld video devices, and eventually to HD Televisions as a legitimate alternative to cable and satellite broadcast technologies. TVNET touts itself as being able to deliver high-resolution content ``in any manner, over any medium''. Currently the company is able to effectively stream its content through satellite, cable, wireless and plain old telephone lines. TVNET.net intends to expand and establish brand-name awareness through a growing international subscriber base, increased industry partnering and Live-Event Internet streaming.

Headliners' agreement with TVNET.net is a first step towards its recently announced goal of moving into multi-media markets and emerging new broadcast technologies. According to the terms of the agreement, Headliners Entertainment Group will receive 15 percent of all advertising revenues TVNET.net produces through its subscriber-based website.

 

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