EarlyAlerts.Com Announces Investment Opinion Upgrading Parallax Entertainment, Inc. To A Strong Buy Rating.
Business Editors
NOTE TO EDITORS: The following is an investment opinion issued by
EarlyAlerts.Com.
LAKE HARMONY, Pa.--(BUSINESS WIRE)--Jan. 17, 2002
EarlyAlerts.com (http://www.EarlyAlerts.com) announced today that it has raised Parallax Entertainment, Inc. (OTC BB:PLLX) from a Buy to a Strong Buy and a 12-18 month price target of 75 cents.
Recently Parallax signed an agreement with New York based entertainment attorney David H. Chidekel to consult with the company concerning business affairs with music industry entities and artists. Mr. Chidekel has also agreed to assist the company in building its industry presence through appropriate introductions and by aiding in the acquisition of contracts with major record labels.
Parallax Entertainment, Inc. is a music industry concern operating two separate but complimentary divisions: Parallax Records and ParallaxMusic.com. As the primary focus of Parallax Entertainment, Inc., Parallax Records is a traditionally styled, independent record label that produces, licenses, acquires, promotes and distributes high quality recorded music for a variety of formats.
The record label division currently specializes in developing new artists by marketing and licensing their master recordings to major record labels. ParallaxMusic.com, an online promotional vehicle and e-commerce solution for musicians on the World Wide Web, provides the company with an ancillary source of income.
The company's two divisions work in a symbiotic fashion to easily accommodate the rapidly changing methods of promoting and delivering music to the consumer market.
David H. Chidekel is an entertainment attorney specializing in music industry transactions. Mr. Chidekel has represented and counseled some of the best known recording artists, record producers and executives, songwriters, music publishers, and personal managers in the industry. His clients have included Universal Records Group, EMI Records, Arista Records and popular artists such as Kid Rock.
Based in New York City, Mr. Chidekel is currently "of counsel" with the Manhattan law firm Leibowitz, Roberts & Ritholz, LLP, a firm that represents such well-known artists as NSYNC and LFO.
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