OPUS MEDIA BACKS NEW LABEL

Opus Media Group, formerly ID Medical.com, Inc. is raising up to $35 million, primarily for the funding of a joint business venture to form a record label with a high-profile multi-media entertainer.

The company announced Tuesday that it has retained as its exclusive financial advisor the U.S. division of a large international investment banking and venture capital firm, which manages funds with a net asset value of more than $2 billion.

Through that retention agreement, the financial advisor has agreed to assist Opus Media in raising up to $35 million—the money needed to fund a startup music company joint venture.

"We believe this agreement is a strong validation, from one of the most respected investment firms in the business, of our repositioning of the company," said Opus Media CEO Robert Gordon. "They have considerable expertise in public and private fundraising, deal structuring and other financial advisory services in multiple technology and high growth sectors. We expect that their comprehensive services, including a full range of investment banking and financial products and brokering, will be of great benefit as we continue to expand and grow the Opus Media Group."

Gordon added, "The funding will allow us to move forward confidently on a number of large transactions that will significantly expand the reach and direction of the company.

"In May 2002 we entered into a letter of agreement with a famous recording artist to form a new music label and are assembling a seasoned management team from the music industry to operate the new company," he said. "In conjunction with the new music label, Opus Media is in the process of acquiring Koko Interactive, a software company with a powerful extranet product that also provides an application to protect artists' digital rights against unlicensed reproduction of CDs."

No word on who that entertainer may be or who the company has hired to launch the record label. Wonderers wonder if said entertainer may be fond of wearing one glove.

Opus Media Group owns ID Medical, which allows online access to medical records of its membership by authorized physicians and emergency medical personnel.