LOS ANGELES, July 27, 2015 (GLOBE NEWSWIRE) -- As URBT begins raising its seed capital of 5 million dollars to re-launch the URBT network by Q1 of 2016, URBT wants to ensure its investor base that there will be no reverse split of the Company's stock. In a statement made by the Company's new CEO Joseph Collins he makes it perfectly clear, "Since I have been the CEO of URBT I have been very transparent, this Company needs long term investors! Investors that will give the Company an opportunity for our stock price to grow. We do not have nor will we take on any toxic debt. This is why we are raising 5 million dollars to create investor confidence and build a base that is interested in growing a media Company. We are satisfied with our approximately 130 million shares outstanding and a reverse split of URBT stock at this time would be counter-productive to our business model."
Urban Television Network Corporation (OTC:URBT) has filed Regulation D under Rule 506c with the SEC and the Company has begun raising 5 million dollars selling restricted shares of URBT stock. The Company's CEO is personally taking calls (909.486.4742) with investors in an attempt to get to know his investor base. Investors may also visit our website http://URBTnetwork.com
On Friday, July 24, 2015, URBT entered into contract with advertising agency Golden Air Time. Golden Air Time places direct response advertising on television networks such as TNT, BET, Lifetime and ESPN to name a few, and is excited to provide URBT with 52 weeks of advertising beginning Q1 of 2016. President of Golden Air Time Renee Rochman states, "We are very excited to be an advertising partner with the URBT network. The experience of your CEO has prompted us to make an early commitment to the network. URBT network is golden to us!"
"I feel our Company is very under-valued and the current stock price does not reflect the value of our business model. However, as we continue to implement the business model, investors will be able to determine that we are building a media Company that could move from the OTCMKTS to NASDAQ in a few years," says CEO Joseph Collins.
CONTACT: Joseph Collins 909.486.4742
Source:Urban Television Network Corporation