The following financial information is subject to adjustment upon completion of the Company's annual audits for the fiscal years listed below.
As of October 31, 2012, the Company had generated gross sales of $508,320 in advance of the American Film Market ("AFM"), the largest film market for the Company in 2012. For the year ended December 31, 2011, the Company generated $1,700,000 in gross sales. For the year ended December 31, 2010, the Company generated $1,200,000 in gross sales. Gross sales are determined by the contracted sales price amount for films sold by the Company.
As of October 31, 2012, the Company had collected $840,347 in gross revenues thus far for the year ending December 31, 2012. For the year ended December 31, 2011, the Company collected $1,405,608 in gross revenue. For the year ended December 31, 2010, the Company collected $677,000 in gross revenue. In accordance with accounting standards for realizing gross revenue, the Company can only record gross revenues after meeting all of the applicable accounting requirements, including the receipt of funds and the air or release date of the film having occurred.
As of October 31, 2012, the total issued and outstanding shares were 4,229,561,884. The total shares held in street name, also known as CEDE, were 346,746 shares. The total non-restricted shares held, including those non-restricted shares held by affiliates that are not currently available for resale, were 1,726,294,556 (including those held in CEDE). There were 2,503,267,328 restricted shares, of which 2,402,219,378 restricted shares were held by affiliates. As of October 31, 2012, there were 220 stockholders of record, representing over 6500 stockholders.
The Company is working toward completing the filing of its annual reports on Form 10-K and the subsequent quarterly reports on Form 10-Q. The Company now expects to have its 2010 Form 10-K filed no later than November 30, 2012, with the 2011 Form 10-Q’s and Form 10-K and the 2012 Form 10-Q’s filed shortly thereafter. Once these are filed, the Company expects no further delays in its annual and quarterly reports during fiscal year 2013. The Company was delayed in filing these reports due to a number of unforeseen factors that impacted its ability to collect the required information and audit confirmations from third parties, delays connected with the acquisition, maintenance and divesture of the Liberation Film Library and the availability of certain professionals crucial to the timely completion of the annual and quarterly filings. During this time, the Company has provided updated company and share information at www.otcmarkets.com.
