Sunday, April 19, 2015 7:11:16 PM
Company’s prior agreement with European Group, Ltd., to provide funding of $250,000 as a prepaid home video royalty advance to Redbull Media House, N.A., Inc., was not funded in a timely manner and was subsequently terminated in January, 2015. The non-exclusive home video distribution rights to “On Any Sunday: The Next Chapter” that were to have been vested as a result of this royalty advance were forfeited back to Redbull, and the Hannover House obtained video orders were assigned to Anchor Bay Entertainment under a cooperative dissolution of the venture.
This paragraph from Form 10 also dumps on the $1.068m in AR from Dec. 31st. All those record pre-orders/AR/shipments hyped up, came from OAS and they were assigned to Anchor Bay.
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