profit, nice!! MN1.com: Fineline Licenses Six Character Groups for US $2.4 million Up-Front Fee and 20% Royalty
KENT, Ohio, Aug 16, 2006 (M2 PRESSWIRE via COMTEX) -- (PINKSHEETS: FNLH) Fineline Holdings Inc. announced today that it has entered into an exclusive licensing agreement with a private European business group for the use of six character groups for a $2.4 million up-front licensing fee and a 20% on-going royalty. The licensee has the right to benefit from the use of these character groups in mobile content, TV, motion pictures, games, animation, merchandising and any other use that maintains Fineline's (PINKSHEETS: FNLH) quality standards. The licensed character groups are Internautes, Health Scare, Illegals, White Trash, Friendly Frights and Hogstturrs. The agreement is for a period of eight years with an option for the licensee to extend the agreement for an additional eight years. The Licensee will pay Fineline (PINKSHEETS: FNLH) ( 20% of all gross revenues generated by the Licensee once cumulative gross revenues exceed US $2.4 million. The $2.4 million up-front license fee is non-refundable.
"With the payment of this license fee, we have no need for additional capital." said Robert Petry, Fineline Holdings CEO. "This is only the beginning. Our business generates very high margins and we have interest in our character groups in the areas of toys, motion pictures, TV shows, merchandising and mobile games. I am confident we will follow this win with additional licensing agreements."
Strategically, Fineline is focused on generating revenue from mass distribution of its proprietary character groups through mobile, television and/or motion picture agreements as a launching pad into additional lucrative licensing and merchandising. In the past, Fineline characters have been licensed for use with over 450 products in 20 countries. Licensees included household names such as Wendy's Hamburger, Thom McAn and Kellogg's.
About Fineline
Fineline has an extensive inventory of highly commercial cartoon characters for mobile carriers, television, movies and product merchandising. Fineline generates revenue through lucrative licensing and merchandising agreements of these assets. The company's library of original characters is one of the largest in the industry with over 214 trademarked and copyrighted cartoons. Some of the Fineline character groups have already been focus tested against Disney groups and won the test on consumer appeal. The Fineline library can be viewed at http://www.finelineproperties.com.
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