Sycamore Entertainment Group Inc (SEGI)

[Myth]

This is a lawsuit that started in 2012, and it is listed in the fins on the OTC Market. SEGI owes over 500k...

02/17/2017 Annual Report - INFORMATION AND DISCLOSURE STATEMENT FOR THE QUARTER ENDED December 31, 2016

Look at 7. Commitments and Contingencies.

Here's some more info on the deal...

Law360, New York (September 23, 2011, 6:52 PM ET) -- The private equity arm of independent film production company PalmStar Entertainment Inc. filed suit Thursday in California alleging that Sycamore Entertainment Group Inc. welshed on an agreement to finance a film project.
PalmStar Media Capital LLC joined forces with Sycamore to form Milestone Media Capital Fund LLC, but the defendant only contributed $150,000 of the $900,000 it had agreed to provide, according to the complaint filed in the California Superior Court in Los Angeles.

“Defendants materially and substantially failed to perform and have breached the agreement by failing to pay its capital contribution of $900,000 ... to plaintiff’s damage in the sum of $750,000,” the complaint said.

PalmStar teamed up with Sycamore, an independent film marketing and distribution company, to create a film finance and investment fund in April 2011, with PalmStar founder Kevin Frakes and 108 Media Corp.’s Abhishek Rastogi providing services and Sycamore’s CEO Edward Sylvan backing the venture, according to the complaint.

The majority of the Milestone Media budget was devoted to salaries, with each of the three founding members slated to receive $200,000 and the remaining $300,000 to be spent on getting the company up and running, according to the filing.