From that SEC Filing... Some of it goes into 2007
We own the rights to two movie scripts. We intend to finance the production
costs estimated at $3,000,000 for the first of these films from the proceeds of
a private offering of restricted equity securities. If we are unable to raise
the requisite funding, this could have a material adverse impact on the
Company's planned business and its financial condition and prevent the
production of any of the films. During the nine months ended February 28, 2006,
we have determined that the movie rights are deemed impaired and accordingly
recognized an impairment loss attributable to the movie rights of $90,000.
There are no present plans to hire any additional personnel in connection with
the Company's planned film production. However, if operations are expanded
through growth or acquisitions, the Company expects to hire personnel to meet
these needs and may enter into full-time employment agreements with its
president or others to oversee its operations. The number of employees which may
be hired will be determined by the expansion of the Company's present business
or into other business ventures. The number of employees actually hired will be
based on the Company's ability to support the increased cost through cash flow
generated by such business.
