Business
Entertainment Arts Research Inc. Acquisition in China
Entertainment Arts Research Inc. Acquisition in China.
About this update from Entertainment Arts Research, Inc.
[{"type":"text","content":"ATLANTA, GA / ACCESSWIRE / November 29, 2017 / Entertainment Art Research Inc. (OTC PINK: EARI) and New Pattern Capital Ltd. (Shenzhen) signed an acquisition agreement in October 2017, in which EARI purchased 90 percent of the outstanding stock of Tian Jin New Pattern Buolong Film Enterprise Management Co., Ltd. from New Pattern Capital Ltd. (Shenzhen) with 30,391,837 restricted common shares of EARI. After the closing of this acquisition, the New Pattern Capital Ltd. (Shenzhen) owns 40.68 percent of EARI's outstanding common stock and Tian Jin New Pattern Buolong Film Enterprise Management Co., Ltd. becomes a subsidiary of EARI and will be renamed to EARI China.New Pattern Capital Ltd. (Shenzhen) was established with great financial strength and structured with integrated physical, intellectual and financial resources to develop and formalize the production chain of the Chinese movie industry. The company owns a highly qualified and experienced team in investment, execution, management, law, and accounting as well as the capability to provide financial services to clients from individual investors, organizations, and companies to large institutions. Its investment areas include media production, real estate, senior community construction and management, environmental management, public services, and financial products. Since 2002, the company has funded dozens of TV shows and programs, managed several investment funds, and established networks and branches in multiple financial centers and districts in China. Partnering with TianJin High Tech Development District Government and several financial institutions, New Pattern recently established \"Movie Industry Fund\" at China (Bolong) Film and Television Industry Base, specialized in investments of facility construction and property management for the movie industry.Tian Jin New Pattern Buolong Film Enterprise Management Co., Ltd. was a subsidiary of New Pattern Capital Ltd (Shenzhen) and becomes EARI China after the acquisition. The company was established to manage China (Bolong) Film and Television Industry Base, a 1.02 square miles (2.6 square kilometers) community with completed constructions of over 4,050,000 square feet (450,000 square meters) office spaces at the headquarters around the lake, over 3,240,000 square feet (360,000 square meters) commercial spaces, and 5,400,...