ATLANTA GEORGIA / ACCESS CABLE / July 13, 2022 / Seven Arts Entertainment Inc. (OTC PINK:SAPX), the “Company”, is pleased to provide an update for shareholders on its fiscal year-end closing and projections for the coming year.
With Seven Arts’ fiscal year ending on June 30, the Company is pleased with what has been achieved in its first year under new management. Including but not limited to:
Current reporting to OTC after almost 6 years of inactivity Liquidation of accumulated debts with Transfer Agent Acquisition of Muse Media Subsidiary Reduction of common shares by 2.5 billion (62%) Reduction of authorized shares to 1.8 billion Obtaining new facilities in Atlanta Start of the documentary production
Moving into its next fiscal year, Seven Arts will focus on aggressively growing its intellectual properties and revenue generation.
As stated above, the Company participated in presentations and conferences with executives affiliated with HBO Max, Blackhall Studios and Blumhouse Productions regarding its documentary film tentatively named “Manspeaker.” Since then, other major production companies have expressed similar interest in the film. The Company has initial conference calls pending with Morgan Creek Entertainment executives this week.
Seven Arts has recently been advised to move forward with talks for a multi-film deal. The Company and the executives it has met with believe that presenting a three to five picture deal to major production companies will present more favorable opportunities for success for all parties involved.
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Big movie studios are more inclined to do a multi-picture deal, as it allows them to hedge potential losses against potential hits in a package of movie investments. This option will also allow Seven Arts to reach a potential $20 million up front with revenue projections exceeding $80 million over the next five years on a single deal.
The Company’s development of the Atlanta production facility remains on track for its next launch date. New staff have been added to oversee and ensure the studio is the most advanced Foley stage and Dolby Atmos mix in the region. Progress in facilities and in-house production prospects have been a driving force at Seven Arts, getting larger film companies interested in the company’s films as well.
The production facility is projected to add an additional $5 million in annual revenue to the Company, as well as offering an ongoing gateway to work with larger movie studios that will contract the facility for audio services.
When new management took over Seven Arts last year, the Company took out small convertible loans to pay off legacy debts, such as Transfer Agent fees. With the recently announced participation in Picture Pro and the option to obtain new funding backed by film revenues in lieu of convertible debt, the Company is confident that the prior loans will be repaid prior to their maturity date.
In addition, the Company intends to take significant steps over the next year to advance investments in several music artists through their Seven Arts Music subsidiary. The company’s A&R representative, Thom Hazaert, who has more than 30 years of experience in all aspects of the music industry, will take on a larger role in the company to identify established and upcoming artists who remain open to incorporate your work with evolving technologies. .
Seven Arts strongly believes that NFT and the Metaverse will play a major role in how albums are released and artists are showcased. The company is now taking steps to incorporate these elements into its music catalogue, starting with the Green Jello album to be released alongside the “Manspeaker” documentary.
Finally, with this fiscal year ending and the Company’s June 30 annual release almost complete, Seven Arts is confident that it can file the required two years of annual audits to meet the requirements to become SEC reports and listing on the OTCQB exchange with the goal of eventually returning the Company to the NASDAQ exchange. Seven Arts is currently pursuing this bulk and intends to further update shareholders on these shares in the coming weeks.
Stated Seven Arts CEO Jason Black: “I am very pleased with what has been achieved over the past year. While many companies on the OTC struggle to even maintain their quarterly filings, Seven Arts has been able to survive and continues to thrive from where we started last year. Now that the Company comfortably meets the requirements of the market and I have a solid understanding of the Company’s past activity, as well as a deeper understanding of the industry in general, the coming year will aggressively focus on generating revenue and increasing of value for shareholders. I think that with the various projects that we have in development, as well as the next offers It will be announced that Seven Arts may record a minimum of $50 million in annual revenue this fiscal year and increase to $300 million in the next 5 years.”
East Press release contains forward-looking statements. The words ‘believe’, ‘may’, ‘estimate’, ‘continue’, ‘anticipate’, ‘intend’, ‘should’, ‘plan’, ‘could’, ‘target’, ‘potential’, ‘is likely’ , ‘will’, ‘expect’ and similar expressions, to the extent they relate to us, are intended to identify forward-looking statements. The Company has based these forward-looking statements largely on our current expectations and projections about future events and financial trends that we believe may affect our financial condition, results of operations, business strategy and financial needs. Some or all of the results anticipated by these forward-looking statements may not be achieved. Any forward-looking statement made by us in this document speaks only as of the date made. Factors or events that could cause our actual results to differ may arise from time to time, and it is not possible for us to predict all of them. The Company undertakes no obligation to publicly update any forward-looking statements, whether as a result of new information, future developments or otherwise, except as required by law.
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