WEST PALM BEACH, Fla., Feb. 19, 2013 /PRNewswire-iReach/ -- Carla Harris, Morgan Stanley Managing Director reached out to BSC and scheduled a lunch appointment with BSC CEO, Cleveland Gary. The lunch appointment lasted over 3 hours as Mr. Gary and Ms Harris discussed Black Shopping Channel and its future in the marketplace.
Ms Harris said that BSC could be a $5 per share stock if the company goes public too soon, or in her opinion BSC could reach an IPO of over $70 per share if the company waits for the right time to enter the stock market. Ms Harris recommended that the company continue to raise funds from private equity sources and expand their television coverage to over 65 million homes before the company goes for its IPO.
In the vein of raising more private equity funds, BSC with Carla Harris' advice and recommendations will be raising an additional $ 25 million to invest in additional TV markets to expand their television coverage area. As expected, revenues of BSC will increase exponentially with the expanded TV coverage areas.
CEO, Cleveland Gary will be making the important decision whether to wait to complete the IPO of BSC until the funds are raised and the television coverage is increased to over 65,000,000 people or to go ahead and go public now.
By waiting, Gary will be allowing more and more African Americans and investors an opportunity to make a cash investment for private stock. By allowing those investors to make the increase in share value of this offering price of $1.00 per share to a potential of $70 per share as Ms Harris estimates the stock will be, if Gary waits to achieve a greater television coverage area.
If Gary decides to go ahead and go public now, the company will raise the funds through Hedge funds and other public sources. This decision will allow the company to gain the funds to continue their growth in increasing their television coverage areas, but will not allow African Americans and private investors an opportunity to make the additional profits of the stock as it increases in value nearing the date of the IPO.
Gary is expected to announce his decision in the next 30 days. At this time, private investors can purchase shares at $1.00 per share until Gary makes his decision. If Gary decides to go public immediately, private investment will stop after these 30 days and the IPO filings will begin shortly thereafter.
Carla Harris, Managing Director for Morgan Stanley, as a senior member of the eqity syndicate desk executed such transactions as the initial public offering for UPS, Martha Stewart Living Omnimedia, Ariba, Redback, the General Motors sub-IPO of Delphi Automotive and the $3.2 billion common stock transaction for Immunex Corporation, one of the largest biotechnology common stock transaction in U.S. history. Ms Harris was recently named to Fortune Magazine's list of "The 50 Most Powerful Black Executives in Corporate America", U. S. Bankers "Top 25 Most Powerful Women in Business" (2009), Black Enterprise Magazine's "Top 25 Most Powerful Women in Business"(2010), Black Enterprise's "Top 50 African Americans on Wall Street," Essence Magazine's list of "The 50 Women Who Are Shaping the World," andEbony's list of "15 Corporate Women at the Top," and was also named "Woman of the Year 2004" by the Harvard Black Men's Forum.
Black Shopping Channel (BSC), is the only Urban television shopping channel that sells the products of small business owners across America on National television in a QVC format and on the Internet in an Amazon type format. BSC is broadcast over national television on FTA access and cable to over 9,500,000 homes across the United States. Additionally, BSC is available over the satellite transponder and the internet to the entire world. BSC controls an internet broadcast network, www.blackshoppingchannel.tv where consumers can shop through infomercials about the innovative products of small business owners all organized on 16 network channels. BSC has over 2300 distributors across the US markets to assist small business owners in getting their products sold over television. The BSC format is designed to provide small business owners with a platform to advertise and sell more products in a television shopping channel format. BSC has a contract with DISH Network to begin airing in the near future. Also, BSC has contracts and partnerships with Charter, Comcast, and Time Warner/AOL. BSC is looking to expand broadcast coverage to over 65,000,000 homes in 2013. Visit www.blackshoppingchannel.com or call 800-826-1497 for more information.
BSC News Department, Black Shopping Channel, Inc., 800-826-1497, firstname.lastname@example.org
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SOURCE Black Shopping Channel, Inc.