Seven Arts Entertainment Inc (SAPX)

[valeriana]

The Movie Studio, Inc. Completes Acquisition of 60% Membership Interest in Thirteen Motion Pictures From Seven Arts Entertainment, Inc.

http://www.marketwired.com/press-release/movie-studio-inc-completes-acquisition-60-membership-interest-thirteen-motion-pictures-otc-pink-mves-2060160.htm

"Under the terms of the acquisition, TMS has paid SAE $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; and TMS has assumed approximately $2,000,000 in SAE's convertible notes."

Just making sure people see this news from a few weeks ago too. Very positive. They trimmed off $2mil in convertible notes with this deal too. Nice.