JC put us in a position I did not want to be in by

JC put us in a position I did not want to be in by his lies and selfish actions.  This ruse, saying I filed false information with the SEC was actually calling myself CEO in the previous Q and K.  I of course was and still am the CEO of the company.  He wanted to be CEO, take over the company and then spin off Punch into another company.  I feel he is simply the most greedy dishonest person I have ever worked with.

The lucky thing is, if he was not so reckless and aggressive trying to do things which where legally impossible we would not have looked as closely at the way he was handling the TV side as quickly as we did.  Luckily by doing so we found out what he had done and we where able to take immediate action which actually has improved the company.  Our attorneys our finishing up the paper work which must filed before we can offer more information publicly.  As soon as they do we will announce what we have been able to do.

I can say this... There will be no reverse stock split.  The amount of shares outstanding will decrease and JC no longer works for us. None of the people in the Punch office work for us.  We will continue to own a TV network ran by top television executives and a partner.  We have everything and everyone in place to move forward.  We will offer a complete explanation and introductions as soon our filings are complete.

I am offering all I can right now and look forward to be able to share more with the public shortly.  Again, as much as I hate the ridiculous spectacle JC created, his actions allowed us to actually become a better company.