HOUSTON, Sept. 23, 2015 (GLOBE NEWSWIRE) — NightCulture, Inc. (OTCBB:NGHT) announced that, as of September 15, 2015, it had been made aware of the issuance of promotional newsletter emails encouraging investors to purchase its shares. These promotional emails appear to have had the effect of increasing the trading volume and market price of the Company’s securities.
NightCulture Inc., its officers, directors, and controlling shareholders have not, directly or indirectly, been involved in any way (including consideration paid to any third-party) with the creation or distribution of these promotional materials including email newsletters related to the Company and its securities.
During the preceding six months, transactions in the company’s securities by officers, directors and controlling shareholders have consisted of (i) the issuance on May 27, 2015 of 16,427,403 shares to Michael Long, the company’s CEO, a director and controlling shareholder, in settlement of accrued and unpaid salary and loans totaling $183,559.80, (ii) the issuance on May 27, 2015 of 17,613,656 shares to Surain Adyanthaya, a director and controlling shareholder, in settlement of accrued and unpaid salary and loans totaling $196,815, and (iii) the purchase by Mr. Long of 400,000 shares in the open market on June 26, 2015 and 50,000 shares on June 29, 2015. Form 4s reporting each of those transactions were filed with the Securities Exchange Commission as required.
NightCulture has previously issued the following shares or convertible instruments that are presently outstanding allowing conversion to equity securities at prices constituting a discount to the current market rate at the time of the issuance: (i) on September 12, 2012, the company issued to Mountain Top, Inc. $500,000 of debentures convertible into common stock at 50% of the average closing price over the preceding 20 trading days; and (ii); on September 12, 2012, in conjunction with the issuance of the above convertible debentures, the company issued to Mountain Top, Inc. warrants to purchase up to 25,000,000 shares of common stock at 50% of the average closing price over the preceding 20 trading days.
Investors and prospective investors, in evaluating the company and its securities, are encouraged to rely on the company’s filings with the SEC and press releases and other materials published by the company.
About NightCulture Inc.
NightCulture Inc. (OTCQB:NGHT) “Concerts that Change Your Life,” is a premier producer of live concerts and events. NightCulture operates in the following markets: Houston, TX; Austin, TX; Dallas, TX; and San Antonio, TX. NightCulture was the first Electronic Music company to trade in the public markets. http://www.NightCulture.com
NightCulture Inc. produces two major music festivals. “Something Wicked” Halloween Festival, which drew over 40,000 fans 2014 in Houston, TX http://www.SomethingWicked.com and “Something Wonderful” Festival in Dallas, TX which debuted in 2015 http://www.SomethingWonderful.com
Stereo Live, LLC, is a wholly-owned subsidiary of NightCulture which operates Stereo Live, a 25,000 square foot music and live events venue located on 2 1/2 acres of land at 6400 Richmond Avenue in Houston, Texas. http://www.StereoLiveHouston.com.
CONTACT: CONTACT: Michael Long 832-535-9070 [email protected]