Oh Wait, here's the part to read........
Were of the opinion that increased revenue bookings by The Movie Studio should have a positive impact on its share price which would translate to increased shareholder value for Seven Arts and The Movie Studio shareholder communities, said Rick Bjorklund, Chairman and CEO of Seven Arts. As previously communicated, Ill be presenting a proposal to Seven Arts management team and board of directors to declare a onetime special dividend to our shareholders, a portion of the preferred stock that Seven Arts will receive from The Movie Studio, sometime after the closing of the contemplated acquisition.
We are excited about the addition of the SAFELA movie assets to our growth by acquisition strategy and blended film packaging strategy for worldwide distribution with our current movie and intellectual property assets, stated Gordon Scott Venters, President and CEO of The Movie Studio. We look forward to a successful marketing initiative with our numerous business relationships and partners we have at the Cannes Film Festival.
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).
