Raven Moon Entertainment, producer of faith-based children's videos, reported a net loss of more than $6.9 million for the first six months of the year, according to documents filed with the Securities and Exchange Commission.

The Orlando, Fla.-based company also announced that it has entered into a 10-year agreement with Gina D Inc. to assume $3.2 million in debt owed to MG Studios, which produced the “Gina D's Kids Club” series, the Orlando Business Journal reported.

Raven Moon said the company had previously reported little or no revenue and significant losses in the past because of production expenses associated with producing 44 episodes of the "Gina D's Kids Club" series and providing the shows to television networks in order to create an audience to sell DVDs and CDs, the Journal reported.

Raven Moon has also signed a distribution agreement with STL Distribution North America to distribute its programming to more than 1,150 Christian bookstores and general market retailers.

Additionally, the company has signed a three-year broadcast license agreement with Trinity Broadcasting Network, Smile of a Child Television Network, Inspirational Television Network, Victory Television Network and Christian Television Network, the Journal reported.

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