Friday, March 24, 2006
TRIANGLE MULTI-MEDIA LIMITED INC. RELEASES Q TELEVISION NETWORK FINANCIAL STATEMENTS
TRIANGLE MULTI-MEDIA LIMITED INC. RELEASES Q TELEVISION NETWORK FINANCIAL STATEMENTS
BURBANK, CA - March 23, 2006 - Triangle Multi-Media Limited Inc. (See OTCBB Other: QBID) has announced today the release of financial statements for its wholly owned subsidiary, Q Television Network, Inc. (QTN). The information which will be available on the Network's website (here) covers all activities since QTN's inception through December 31, 2005. This highly anticipated release comes on the heels of the new CEO Lloyd Fan assuming total control of Triangle Multi-Media and QTN.
"We have a commitment to our shareholders to provide them with as much fundamental data as possible, and the QTN statement was long overdue," said Lloyd Fan, CEO of Triangle Multi-Media and the Q Television Network. "In the two weeks that I have been in control, I have spent the majority of my time devoted to the financial records in order to provide the shareholder base the information it has been demanding. We are also currently working on the Triangle Multi-Media financial statement and hope to release that to the public very soon."
Fan has also confirmed that previous executive management has resigned all of its fiduciary and executive interest in Triangle and QTN, as well as its 53% majority ownership of QBID.
About Q Television Network:
Q Television Network is a 100% wholly owned subsidiary of Triangle Multi Media. This 24/7, premium television network is organized to create, develop and feature television programming for the gay and lesbian community, including live & interactive content every weeknight, plus sports, information and entertainment. While the company expects much of its subscriber base to be comprised of members of the gay and lesbian population, management also believes that quality programming about the gay and lesbian experience, designed to entertain, educate and inform, will attract many other segments of the viewing public.
The company's programming is available on a subscription basis to those desiring to subscribe. The monthly fee varies by region of the country. The network is telecast 24 hours per day, 7 days per week and features a variety of live and original programming. Q Television is available on such blue chip cable systems as Time Warner, Cox communications and RCN, among others, with availability approaching 3 million digital cable households in the U.S. Q Television Network is the official network of Gay Games(r) VII. The network is also ad-supported. For further information on programming and subscriptions, please visit www.qtelevision.com.
Safe Harbor Statement
As a cautionary note to investors, certain matters discussed in this press release may be forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such matters involve risks and uncertainties that may cause actual results to differ materially, including the following: changes in economic conditions; general competitive factors; the television network's ability to execute its business model and strategic plans; and the risks described from time to time in the company's Securities and Exchange Commission filings.
Contacts:
QTN Investor Relations
Richard Brown
Equity Relations, Inc
(617) 314-7379
Staff@EquityRelations.com |
