C'mon Bill your forcing me not to believe again. Did you read this in the new filing or do you not read those? I got this from Mikey pumpers post. Watching Mikey pump is like watching Excel bash!
In April 2000, we entered into a joint venture production agreement to
produce a feature length film for theatrical distribution. Under the agreement,
we provided the funding for the production in the amount of up to $2,250,000
and, in exchange, we will receive a 50% share in all net profits from worldwide
distribution and merchandising, after receiving funds equal to our initial
investment of up to $2,250,000. As of October 31, 2003, we had a receivable from
the joint venture in the amount of $2,167,000. The film is now in distribution.
We expect to receive distributions in fiscal 2004 in excess of $2,167,000. Our
expectations are based on future revenue assumptions related to the Film's DVD
and cable TV, currently scheduled for April and October 2004 releases and
broadcast television releases presently scheduled for Summer 2005. However, no
assurance can be given that these revenue projections will be realized.
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