some are holding---suspecting they are operating --under the table--will renew papers when Trump gets the boot in early 2021
ps--On behalf of 1st Miracle Group Inc. (the "Company"), we are today voluntarily
withdrawing the Company's Registration Statement on Form 10-SB (the "Form
10-SB") originally filed with the Securities and Exchange Commission on February
27, 2001, in order to permit the Company additional time to respond to comments
raised by the Commission. The Form 10-SB originally filed by the Company was
filed voluntarily.
If you have any questions regarding the foregoing, please fell free to contact
me at your convenience.
Very truly yours,
BARATTA & GOLDSTEIN
more
SPEEDWAY JUNKY: An action adventure film with the mean streets of Las
Vegas as the scene for a high stakes thrill ride. The film stars Jesse
Bradford of WILLIAM SHAKESPEARE'S ROMEO & JULIET; Jonathan Taylor Thomas
from WILD AMERICA and TV's HOME IMPROVEMENT; and Darryl Hannah - WALL
STREET and SPLASH. The budget for SPEEDWAY JUNKIE was $1.9 million. We
financed the film with our own capital and the capital of our wholly owned
subsidiary Speedway Junkie, Inc. The film is slated for distribution with
domestic release scheduled for Summer 2001.
o HELD FOR RANSOM: This $3.3 million drama opens with a busload of high
school students on the way home with their bus making an unscheduled stop
to pick up a passenger with cruel intentions. The film stars Dennis
Hopper. HELD FOR RANSOM was financed with our own capital and that of our
wholly owned subsidiary Held For Ransom, Inc.. In addition to the use of
our own funds, we also relied upon financing from traditional bank finance
sources which were collateralized by pre-sold foreign territories for the
film. HELD FOR RANSOM is currently being distributed in the United States
by Blockbuster Video and abroad by Cutting Edge Entertainment Inc.
o AFTER SEX: We financed the making of the film with a partial use of our
own capital and a bank loan collateralized by pre-sold foreign territories
in conjunction with our wholly owned subsidiary, After Sex, Inc. This $2.2
million film stars Brooke Shields in a humorous account of five women,
exploring modern relationships. We currently have an exclusive domestic
distribution agreement with Blockbuster Video. Foreign sales and
distribution have been arranged through Cutting Edge Entertainment.
o ESCAPE TO GRIZZLY MOUNTAIN: This $1.2 million science fiction adventure is
based upon the adventure of a young boy who befriends an orphaned bear cub
that is mistreated in a circus clown act. The young boy with the help of a
Native American try to take the bear cub through a mystical time vortex
back to the pristine wilderness of 1870. The film stars Dan Haggerty.
Financing for the film was obtained through a bank loan secured by all
distribution rights. Tomorrow Films has worldwide distribution rights and
has arranged for straight video distribution through MGM. The film is
scheduled for release in the Summer of 2001.
o JUNGLE JUICE: The script for this comedy was written by Tony Vitale, the
writer and producer of the Sundance film festival favorite - KISS ME,
GUIDO. which has been turned into a CBS Television series that is
scheduled to start later this year. JUNGLE JUICE is a production in the
tradition of THERE'S SOMETHING ABOUT MARY and AMERICAN PIE. 1st Miracle
and its wholly owned subsidiary Jungle Juice LLC provided the full
production budget of $5 million. JUNGLE JUICE is a story about a young
man, left at the altar, who uses his honeymoon tickets and leaves with his
friend for a wild week of sun and fun at a posh, Virgin Island beach
resort. The film stars Morgan Fairchild, Darren Geare, Rutger Hauer, R.J.
Knoll, Robert Wagner and Christopher Walken. The film has recently been
completed, and now is in the post-production stage seeking foreign and
domestic distribution.
o VERY MEAN MEN: This $3.2 million film was wholly financed by 1st Miracle
and its wholly owned subsidiary. VERY MEAN MEN is directed by Tony Vitale
and stars Matthew Modine, Martin Landau, Ben Gazzara, Charles Durning and
Scott Baio. The film is a dark comedy about a bartender who tries to
frighten a tip out of a customer by spinning a tale about two crime
families who go to war over a waitress being stiffed her tip. This film
has been completed and we are currently seeking domestic and foreign
distribution.
o EASY RIDER A.D.: This film which is currently in development, is the 30
year sequel to the American classic EASY RIDER. Geoff, son of attorney
George Hanson murdered in the original EASY RIDER, sets out on a journey
to prove that Wyatt, imprisoned the last thirty years for the murder, is
an innocent man. We own the rights to the script and are actively pursuing
a writer and director for the film.
COMPETITION
The motion picture industry is extremely competitive. Competition comes from
both companies within the same business and companies in other entertainment
media which create alternative forms of leisure entertainment. We compete with
film studios that are associated with major corporations which can be
characterized as dominant in the motion picture industry. We also compete with
numerous independent motion picture companies for the acquisition of literary
properties, the services of performing artists, directors, producers and other
creative and technical personnel and production financing. Many of the
organizations with which we compete have significantly greater financial and
other resources than us. We compete for audience acceptance with motion pictures
produced and distributed by other companies. As a result, the success of our
productions is also heavily dependent on how they are received by the public,
which is both unpredictable and susceptible to change without warning.
SALES AND DISTRIBUTION
On average, we currently receive about 70% of our revenues from the foreign
distribution of our films. As the global market for entertainment programming
continues to expand, we foresee opportunity in developing an international sales
division. With a relatively modest increase in operating costs we believe that
we can dramatically increase both revenues and the control of our product
overseas. With our own sales organization we believe we can optimize revenues
from films both produced in house and acquired from outside sources. The
practice of pre-selling films internationally significantly reduces financial
risk and increases both cash flow and ability to finance this area of our
business activity. Direct involvement in international sales also provides
favorable opportunities in the areas of co-production and co-financing which can
be of further benefit. However, no assurance can be given that co-production,
co-financing and international sales/distribution opportunities will be
available to us.
INDEPENDENT FILM
Major studio productions have become more and more expensive. In turn, lower
budget "independent films" have successfully entered the market. Typically,
independent films are character driven. Given the small financial risk of
producing and releasing independent films, many of the major studios have
started production and distribution units focusing on smaller, independent-type
films. The growth of this product and market segment has provided opportunities
for us to expand into this market segment.
MOTION PICTURE PRODUCTION AND FINANCING
The production of a motion picture typically begins with the screenplay
adaptation of a popular novel or other literary work acquired by the producer
