Business
Seven Arts Entertainment Provides Fiscal Year-End Update and Next Fiscal Year Projections
Seven Arts Entertainment Provides Fiscal Year-End Update and Next Fiscal Year Projections.
About this update from Seven Arts Entertainment, Inc.
[{"type":"text","content":"ATLANTA, GA / ACCESSWIRE / July 13, 2022 / Seven Arts Entertainment Inc. (OTC PINK:SAPX), the "Company", is pleased to provide a shareholder update on its fiscal year-end and projections for the coming year. With the conclusion of Seven Arts' June 30 fiscal year-end the Company is pleased with what has been accomplished in its first year under new management. Including, but not limited to:Current in reporting to OTC after nearly 6 years of dormancySettled accrued debts with Transfer AgentAcquisition of Muse Media SubsidiaryReduction of Common Shares by 2.5 billion (62%)Reduction of Authorized Shares to 1.8 billionObtained new Atlanta facilitiesBegan documentary film productionMoving into its next fiscal year Seven Arts will be focused on aggressively increasing its intellectual properties and revenue generation. As previously stated, the Company has engaged in pitches and conferences with executives affiliated with HBO Max, Blackhall Studios, and Blumhouse Productions regarding its documentary film tentatively called "Manspeaker". Since that time additional major production companies have expressed similar interest in the film. The Company has initial conferences pending with executives at Morgan Creek Entertainment this week. Seven Arts has recently been advised to advance talks toward obtaining a multi-picture deal. The Company and executives the Company has met with believe pitching a three to five film deal to major production companies will present more favorable opportunities for success to all sides involved. Large film studios are more inclined to do a multi-picture deal as it allows them to hedge potential losses against potential successes across a package of film investments. This option will also allow Seven Arts to pursue up to a potential of $20mm USD upfront with revenue projections exceeding $80mm USD over the next five years on a single deal. The Company's development of its Atlanta production facilities continues to stay on track for its upcoming launch date. New personnel have been added to oversee ensuring that the studio is the most advanced Dolby Atmos mixing and Foley stage in the region. Progress on the facility and the prospects of in-house production has been a driving force in Seven Arts getting larger film companies interested in the Company's films as well. The production facility...