No doubt they are still trying to recover from Racing Dreams and Twelve floping last year. How much off balance sheet financing did they do just for Twelve? Oh yeah about $4 million that we know about. Ouch!! Good luck paying that back Ep. LOL! BOARD AGENDA ITEM “A” – Approval of Off-Balance Sheet Financing Opportunities – The Board reviewed the proposal set forth by C.E.O. Eric Parkinson regarding the financing for the acquisition and release of major, theatrical-caliber titles, including director Joel Schumacher’s drama, “TWELVE.” Under the Parkinson plan for “TWELVE”, the financing required to pay for the film’s license fee advance (USD $1.75-mm) and for the film’s Prints & Advertising / theatrical releasing costs (approximately USD $2-mm) would be funded through a combination of private investor funds, supplier credit terms, pre-paid advertising and internal corporate cash resources, and would not require an issuance of company stock or equity.
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