MONTCLAIR, N.J., Jun 02, 2004 (PRIMEZONE via COMTEX) -- Rascals International, Inc. (RSCA) today announces that the name of the corporation has been changed to "Headliners Entertainment Group, Inc." Commencing on June 2, 2004, the common stock of the corporation will be listed for trading on the OTC Bulletin Board under the symbol "HLNR" (OTCBB:HLNR).
"With our pending merger, we feel this new name more accurately describes what we're all about," said HLNR Chairman and CEO Ed Rodriguez. "We'll be operating multi-venue entertainment complexes under such names as Banana Joe's, Margarita Mamas, Red Cheetah, Funky Parrot, Cactus Cafe, as well as Rascals Comedy Club."
"Before the year ends, we'll have clubs in almost twenty U.S. cities, and Headliners Entertainment Group is a banner under which we can rally and move forward. Consolidated sales revenue for this year should exceed $20,000,000, and I see no reason why this growth rate cannot continue with a commensurate rate per share profit increase. I could not be more satisfied with our performance and that we are way ahead of our business plan benchmarks."
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