Seven Arts Entertainment Inc (SAPX)

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Anyone here know if this ever happened? TIA

Seven Arts Entertainment Signs Definitive Letter of Intent To Sell Its Membership Interests of Seven Arts Filmed Entertainment Louisiana LLC - To The Movie Studio Inc. (MVES)


May 12, 2015

OTC Disclosure & News Service

Hollywood, FL -


LOS ANGELES, CA May 11, 2015 Seven Arts Entertainment Inc. (now known as Wireless


Connect Inc.) (OTC: SAPX) (Seven Arts or the Company), a diversified company with motion


picture production assets and wireless communications, is pleased to announce the execution of a


definitive Letter of Intent (LOI) with The Movie Studio Inc. (OTC: MVES) (TMS); whereby, TMS


will acquire SAPX's 60% membership interests in Seven Arts Filmed Entertainment Louisiana LLC


(SAFELA), which is the owner of distribution rights to thirteen motion pictures (SAFELA Library).


The acquisition is expected to close upon completion of the due diligence process. Post-acquisition,


SAFELA will operate as wholly owned subsidiary of TMS.


Under the terms of the LOI, the total consideration for the purchase of the SAFELA Library is: (a)


$750,000 in the form of a new issue of TMS preferred voting stock convertible to TMS common stock


with a conversion price of the three (3) day volume weighted average of the last sale price of TMS


common stock prior to the date of conversion of any shares of preferred stock; and (b) the SAFELA


subsidiary will assume approximately $2,000,000 in the Companys convertible notes. In addition, Seven


Arts has granted TMS an interim exclusive distribution rights to market the SAFELA Library for sixty


(60) days, including the Cannes Film Festival, being held in France starting on May 15, 2015.


Rick Bjorklund, CEO and Chairman of Seven Arts, stated: "We continue to explore ways to strengthen


our balance sheet and increase shareholder value. Upon closing of this deal, Seven Arts balance sheet


will improve in two ways; the removal of approximately $2,000,000 debt and the monetization of our


movie library assets. Post-closing, I plan on presenting to our management team and board members a


proposal to declare a onetime special dividend to our shareholders. The dividend will be a portion of The


Movie Studios Preferred Stock. The balance of the Preferred Stock will be monetized over time to fund


our operation to accelerate our expanded business plan.


Upon completion of the acquisition, the SAFELA movie library consisting of films with Hollywood


iconic movie stars as John Goodman, Tom Sizemore, John Malkovich, Burt Reynolds and others. The


distribution agreements on the SAFELA Movie Libraries include, but not limited to, MGM, Lionsgate,


First Look and others. The foregoing major acquisition begins TMS's growth by acquisition strategy


and integration of other completed movies allowing us to bundle the films for foreign and domestic


distribution in available territories, while seeking negative pick-up and pre-sale agreements on our


motion pictures in development, Gordon Scott Venters, President and CEO of The Movie Studio


announced today.


About The Movie Studio Inc.


The Movie Studio Inc., an integrated motion picture production company, develops, manufactures, and


distributes independent motion picture content for worldwide consumption on various devices


(www.themoviestudio.com)


About Seven Arts Entertainment Inc.


Seven Arts Entertainment Inc. is a global diversified company with wireless communications and motion


picture production assets. Seven Arts vertically integrated portfolio of solutions target a diverse array of


enterprises and multiple disciplines. Seven Arts has 60% membership interests of Seven Arts Filmed


Entertainment Louisiana LLC, which holds all rights to Seven Arts movie assets; 100% of iPTerra


Technologies Inc., a designer, developer, manufacturer and marketer of a real-time 2-way wireless and/or


wireline communications and mine-safety solution for the global mining industry (www.ipterra.net); and


100% of Aeronetworks, a provider of advanced communications and broadband services to niche


markets including entertainment venues, rural communities and Native American tribes


(www.aeronetworks.net).


Cautionary Information Regarding Forward-Looking Statements.


Forward-looking statements contained in this press release are made under the Safe Harbor


Provision of the Private Securities Litigation Reform Act of 1995. Any such statements are


subject to risks and uncertainties that could cause actual results to differ materially from the


anticipated. The information contained in this release is as of May [11], 2015. Seven Arts


assumes no obligation to update forward-looking statements contained in this release as the


result of new information or future events or developments.



Contact:

Seven Arts Entertainment Inc.The Movie Studio Inc.

Rick Bjorklund, Chairman and CEOGordon Scott Venters, President and CEO

[e-mail]@themoviestudio.com


http://www.otcmarkets.com/stock/MVES/news?id=104350

https://www.youtube.com/watch?v=iGpFWwZGaUU


The Movie Studio to Acquire 12 Major Motion Pictures


HALLANDALE BEACH, FL--(Marketwired - Aug 16, 2016) - The Movie Studio, Inc. (OTC PINK: MVES)

The Movie Studio (http://www.themoviestudio.com) has signed an agreement to acquire the 12 major motion picture Arrowhead Film Library from Arrowhead Target Fund Ltd. - In Liquidation.

Under the terms of the Agreement, The Movie Studio, Inc., a publicly traded company (OTC PINK: MVES) (http://finance.yahoo.com/quote/MVES?p=MVES), shall acquire all rights, title and interest in the Arrowhead Film Library. The Film Library is comprised of 12 digital masters of such blockbuster films as:

"Johnny Mnemonic" with Keanu Reeves (http://www.imdb.com/title/tt0113481/?ref_=fn_al_tt_1)
(According to Wikipedia: Johnny Mnemonic alone had successful worldwide sales grossing $52,400,000
https://en.wikipedia.org/wiki/Johnny_Mnemonic_%28film%29 )

Other noteworthy titles include:
"A Shot at Glory" with Oscar winner Robert Duvall (http://www.imdb.com/title/tt0193854/?ref_=fn_al_tt_1)
"I'll Sleep when I'm Dead" with Clive Owens (http://www.imdb.com/title/tt0319531/?ref_=fn_al_tt_1)
"Never Talk to Strangers" with Antonio Banderas (http://www.imdb.com/title/tt0113965/?ref_=fn_al_tt_1)
"No Good Deed" with Samuel L. Jackson (http://www.imdb.com/title/tt0292610/?ref_=fn_al_tt_2)
"Red Riding Hood" with Henry Cavill (http://www.imdb.com/title/tt0385988/?ref_=nv_sr_2)
"Supercross" with Channing Tatum (http://www.imdb.com/title/tt0403016/?ref_=fn_al_tt_1)
"Pop Star" with Aaron Carter (http://www.imdb.com/title/tt0426550/?ref_=fn_al_tt_4)
"Stander" with Thomas Jane (http://www.imdb.com/title/tt0326208/?ref_=fn_al_tt_1)
"Hustle" with Robert Wagner (http://www.imdb.com/title/tt0239058/?ref_=fn_al_tt_8)
"Shattered Image" with William Baldwin (http://www.imdb.com/title/tt0143874/?ref_=fn_al_tt_1)
"Asylum" with Ian McKellen (http://www.imdb.com/title/tt0348505/?ref_=fn_al_tt_1)

The Company intends to re-master the movies to High Definition (HD) for worldwide release and re-licensing. The movies have been previously released theatrically by such major studios as Twentieth Century Fox, Paramount, Sony Pictures, New Line Cinema, and Lionsgate.

Based upon information provided by Seven Arts Entertainment, Inc. n/k/a Wireless Connect Inc., on March 31st 2009, The Salter Group valued the Arrowhead Library between $2,500,000 - $ 3,300,000.

The Salter Group is an independent financial and strategic advisory firm that provides financial opinions, valuations, financial and strategic analysis and transaction support to companies in the Entertainment, Media, Life Sciences and diversified industries. Based on the number of US deals completed, the Salter Group has been ranked as a top financial advisor by Thomson Financial for Motion Pictures/Audio Visual deals between as detailed below:
•The #3 financial advisor Worldwide by Thomson Reuters for Motion Pictures/Audio Visual deals based on the number of deals from 2009-2011.
•Top 20 financial advisors in the US by Thomson Reuters for all Media and Entertainment transactions based on the number of deals from 2009-2011.

The firm has completed over 1,350 projects representing over $145 billion in asset values since its inception. The firm is not an investment bank, and therefore has no inherent conflicts of interest. See https://en.wikipedia.org/wiki/Salter_Group

The Movies Studio (OTC PINK: MVES) expects to begin monetizing this acquisition in the 4th quarter of 2016.

"The Movie Studio is extremely excited about acquiring the Arrowhead Library and licensing new available territories, Video On Demand (VOD) platforms and re-licensing existing territories. The Movie Studio intends to add these remastered films into our growing library of pre-existing and new movies."

"The addition of these quality major motion pictures will reflect how we are growing The Movie Studio by the acquisition of existing high quality films combined with producing new 1st run micro-cap films. This bundling strategy can increase our Net Asset Value (NAV) while minimizing downside risk and simultaneously opening up major distribution arteries for The Movie Studio," Gordon Scott Venters, President and CEO, announced today.

ABOUT THE MOVIE STUDIO, INC.
The Movie Studio, Inc. is a vertically integrated motion picture production and distribution Company with completed motion picture and production assets. The Company acquires, develops, manufactures, and distributes independent motion picture content for worldwide consumption in Theatrical, Video on Demand (VOD), Foreign Sales and on various media devices. For more information, visit www.themoviestudio.com

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and as such, may involve risks and uncertainties. These forward looking statements relate to, amongst other things, current expectation of the business environment in which the company operates, potential future performance, projections of future performance and the perceived opportunities in the market. The company's actual performance, results and achievements may differ materially from those expressed or implied in such forward-looking statements as a result of a wide range of factors.


CONTACT:
Gordon Scott Venters
President/CEO
The Movie Studio, Inc.
954-332-6600
[e-mail]


http://www.marketwired.com/press-release/the-movie-studio-to-acquire-12-major-motion-pictures-otc-pink-mves-2150951.htm