Raven Moon Entertainment receives $5.5 million equity line

By Sheri Kasprzak

Atlanta, March 7 - Raven Moon Entertainment Inc. said it has received a $5.5 million equity line from MG Studios Inc.

Joey DiFrancesco, the company's chief executive officer, did not return phone calls Monday for additional details on the equity line.

A statement from the company said the equity line will replace a previous line of credit the company had with MG Studios.

Based in Orlando, Fla., Raven Moon produces videos, CDs and DVDs. The company plans to use the proceeds from the equity line to produce a line of children's videos.

Raven Moon's stock closed up $0.001 at $0.002 Monday.

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