LUXD some more generic info
We were formed to develop businesses, assets and opportunities, some acquired and contributed from third parties and our founding shareholders, in the motion picture production and distribution industry and some related fields. Lux Digital Pictures, Inc. (“Lux” or the “Company”) operates its businesses under several names and divisions (“brands”) and the Company believes it will be able to compete in today’s entertainment industry marketplace by controlling production costs and by limiting its distribution expenses using, primarily, online marketing tools to promote its products and to further develop its digital strategies. The Company has not been able to raise any new capital, at this point, to grow and expand its businesses and has been actively seeking opportunities to capitalize, re-capitalize the Company or combine or sell the Company in a manner that will be beneficial to shareholders. As of July 8, 2011 the Company is in active negations with a party to do a reverse merger which will result in a change of control of the Company with a new, different and considerably larger business being vended into the Company, which shall result in substantial dilution to shareholders.
Results of Operations for the Quarter ending May 31, 2011
Assets
As of the three months ending May 31, 2011 the Company had Total Assets of $582,281, Total Current Liabilities of $163,217 and Total Stockholders’ Equity of $419,064 compared with Total Assets of $779,014, Total Current Liabilities of $156,682 and Total Stockholders’ Equity of $622,332 for the Company’s prior fiscal year ending August 31, 2010. The decrease in Company assets in the current three month period is, principally, attributable to the Company’s write off of an impaired asset and increased amortization of capitalized production expenses.
Revenue and Operating Expense and Net Income
For the three months ending May 31, 2011 the Company had a Net Loss of $210,319, Gross Revenues of $44,340, and Total Operating Expenses of $100,012 compared with a Net Loss of $6,366, Gross Revenues of $42,087 and Total operating Expenses of $48,394 for the Company’s three month period ending May 31, 2010. The increase in Net Loss from the prior year’s Quarter is, primarily, attributable to the write off of an impaired asset and increased amortization of capitalized production expenses.
We were formed to develop businesses, assets and opportunities, some acquired and contributed from third parties and our founding shareholders, in the motion picture production and distribution industry and some related fields. Lux Digital Pictures, Inc. (“Lux” or the “Company”) operates its businesses under several names and divisions (“brands”) and the Company believes it will be able to compete in today’s entertainment industry marketplace by controlling production costs and by limiting its distribution expenses using, primarily, online marketing tools to promote its products and to further develop its digital strategies. The Company has not been able to raise any new capital, at this point, to grow and expand its businesses and has been actively seeking opportunities to capitalize, re-capitalize the Company or combine or sell the Company in a manner that will be beneficial to shareholders. As of July 8, 2011 the Company is in active negations with a party to do a reverse merger which will result in a change of control of the Company with a new, different and considerably larger business being vended into the Company, which shall result in substantial dilution to shareholders.
Results of Operations for the Quarter ending May 31, 2011
Assets
As of the three months ending May 31, 2011 the Company had Total Assets of $582,281, Total Current Liabilities of $163,217 and Total Stockholders’ Equity of $419,064 compared with Total Assets of $779,014, Total Current Liabilities of $156,682 and Total Stockholders’ Equity of $622,332 for the Company’s prior fiscal year ending August 31, 2010. The decrease in Company assets in the current three month period is, principally, attributable to the Company’s write off of an impaired asset and increased amortization of capitalized production expenses.
Revenue and Operating Expense and Net Income
For the three months ending May 31, 2011 the Company had a Net Loss of $210,319, Gross Revenues of $44,340, and Total Operating Expenses of $100,012 compared with a Net Loss of $6,366, Gross Revenues of $42,087 and Total operating Expenses of $48,394 for the Company’s three month period ending May 31, 2010. The increase in Net Loss from the prior year’s Quarter is, primarily, attributable to the write off of an impaired asset and increased amortization of capitalized production expenses.
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