More from CEO Jake on funding (latest news)
excerpt from most -recent info released by Jake Shapiro CEO
The Company has committed to invest a minimum of $90
million in the Studioplex by August of 2018. The Company currently has no agreements,arrangements or understandings with respect to obtaining the necessary capital and there can be no
assurance that the Company will be able to raise the required funds.
The Company’s current and future sources of capital are from investors, the upcoming release of Yellow, film tax credits, and domestic and international film rights sales. If the Company was successful at raising additional capital or releasing Yellow this could lead to the Company’s termination of operations.
The Company has historically funded its operations from the sale of its securities. However, due to the Company’s current status on the “Gray Market”, and the unavailability of authorized shares of common stock, due to the reservation of a large number of shares of the Company’s stock for issuance under convertible notes, the Company faces challenges in raising short term and long
term capital. Furthermore, there can be no assurances that the Company will be able to obtain any funding.
