dd scraps - MFLE & ARET
Magellan Filmed Entertainment, Inc. (MFLE: .01) announced they are in negotiations for financing their 2001 slate of films. While the exact figure has not been disclosed, Magellan CEO Pat Charles stated that the production-financing fund is mid-seven figures and was arranged by California investment banker Richard Alan Ladd. The production fund, along with additional financing from other investment partners and distributors, will enable Magellan to plan to produce 2 to 4 pictures a year in the $2 to $10 million-dollar range. MFLE is currently up .0015 on volume of 5,330,000 shares. Average daily volume is 1,605,000 shares.
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AmeriResource Technologies, Inc. (ARET: .011) announced that David Slay the head of its Restaurant/Hospitality Division will join forces with Ozzie Smith, to open a 6,500 square foot restaurant in Clayton, Missouri. Their first restaurant will have a seating capacity of more than 225, and is scheduled for opening in December of 2001. Delmar A. Janovec, Chairman and CEO stated that, "Since naming David Slay as Director of our Restaurant/Hospitality Division we have been aggressively searching out corporate opportunities in the Restaurant/Hospitality Areas in Las Vegas and in the Pacific North West. Las Vegas has become a strategic point for some of the country's finest chefs, and through our association with David Slay, we hope to capitalize on this growing market. Since ARET has become a Holding Company, I believe this new division will become an integral part of the long range goals as well as providing other Corporate opportunities in the ever-changing marketplace in Las Vegas." ARET is currently up .001(10%) on volume of 993,800 shares
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