Seven Arts Entertainment Inc (SAPX)

[Mo Ism]

Brief summary of my conversation with Mr. Porter today...

So I spoke to him for about 10 minutes today and here are the things worth noting:

1.. He said he was fairly certain that they would be granted the extension and that they have already started motions to file the extension..that they are currently in talks. I asked him about reverse split and he said that was out of the question and that there is not enough time to do that anyway. He said biggest advantage SAPX has of getting the extension is that they were a UK based company that moved over to the US and that DAQ gives special treatment in such cases.

His exact words were "I see no reason why the extension would not be granted"

2. He said everything would be done NEXT WEEK.