Red Rock Announces Stock Purchase By Management
Red Rock Pictures Holdings, Inc. (OTCBB: RRPH), an independent film development, production, finance and P&A funding company, announced today that members of management purchased shares of RRPH in the open market using their own personal funds. In specific, Company Chief Executive Officer and President Reno Rolle’ and Director Bob Rosenblatt purchased shares.
“We feel that the current share price of RRPH’s stock does not accurately reflect the Company’s true value at this time, nor does it take into account any of the Studio Store Direct potential growth and development opportunities, or our future expectations based on these events,” said Rolle’. “We’re constantly building closer relationships with our existing business partners as well as building new relationships on a regular basis, all of which will contribute to our building a stronger company.”
About Red Rock Pictures Holdings, Inc.
Red Rock Pictures (OTCBB: RRPH) (www.redrockpics.com) finances and co-produces feature films and entertainment for all media. Dedicated to truly partnering with the creative community – from up-and-coming writers, directors and producers to experienced hands in film, television and digital media – Red Rock Pictures is built on its commitment to creative entertainment, finance and innovation.
With the addition of Studio Store Direct, the company also operates as a traditional infomercial production and distribution company. Studio Store Direct has developed a patent pending process for embedding direct response programs directly onto motion picture DVD’s. Viewers can access virtual “QVC like” stores, offering related merchandise for purchase with the simple click of a mouse or by dialing an 800 number. The company’s model provides a turnkey new revenue solution for major Hollywood studios and independent distributors. According to the Electronic Retailing Association (ERA), the direct response television industry accounts for more than 150 billion dollars in annual revenue.