Seven Arts Entertainment Inc (SAPX)

[Chrisalex69]

Extracts from the letter :

Second, we continue our development of "Neuromancer" and "The Winter Queen," both larger budget films on which we expect to start production later this fiscal year. Both, if produced, should generate "pre-sales" or guaranteed revenues well in excess of the gross revenue reported for PLC's fiscal years ended June 30, 2010 and June 30, 2011.

I also would like to address the recent substantial decline in the Company's stock price. As of the market close on June 1, 2011, SAPX stock was trading at approximately $3.00 per share. Since then, we have witnessed a sharp decline from that level. Like you, I have been deeply concerned over this unwarranted shift in our stock valuation.

Management does not believe that this decrease in stock price is related to any specific adverse event regarding the Company, nor do we believe that it is representative of the Company's operations or financial condition, both of which have improved during this time. We have received reports from stockholders and others of "manipulation" or short-selling of our common stock in violation of applicable securities rules and regulations. We have contacted the relevant regulatory authorities on this matter.

Considering that is dated November 2001, I can't see any results or changes on SAPX stock trend
IMO