They ceased the film industry RM I guess but are pursuing other targets.
The Company is planning to acquire a private company for a business combination and has had informal discussions with potential acquisition targets. Previously disclosed informal discussions regarding a potential acquisition of a company in the business of creating and monetizing products based on licensed film and television intellectual property have ceased. No definitive documentation has been entered into in connection with any acquisition and there can be no assurance that the Company will successfully make any acquisition. If an acquisition occurs, the Company would likely issue a substantial number of additional shares of its common stock at a price which could be substantially below the current trading price of the Company’s common stock. There may be no independent valuation done of any proposed target and there can be no assurance that the value of any proposed target would approximate the value of securities of the Company to be issued in connection with such acquisition.
My posts are only my opinion. I don't know the future. Please don't take my posts as investment decisions. You have to do your own Due Diligence and make your own investment choices.