ATLANTA, GA / ACCESSWIRE / July 19, 2022 / Seven Arts Entertainment Inc. (OTC PINK:SAPX), the "Company", is pleased to provide a shareholder update on its steps toward up-listing from Pink Alternative Reporting to SEC Reporting.
On July 15, 2022, Seven Arts filed an 8k with the Securities and Exchange Commission announcing that the Company has engaged BF Borgers CPA PC to act as the Company's auditor. https://www.otcmarkets.com/filing/html?id=15951275&guid=MxU-kePydbi-B3h
The Company had determined the 8k filing would be the appropriate first step in establishing a chronology toward its intent of up-listing as an SEC reporter, followed by the filing of a Form 10 and the requisite two years of audited financials.
After the recent conclusion of the Company's June 30 fiscal year end, management believes the timing is right in its stated strategy of continuing to resurrect the Seven Arts brand and restoring shareholder value. Up-listing to SEC reporting represents the next logical step toward that objective.
The Company will continue to keep shareholders updated on its progress with audited financials as well as its ongoing initiatives in developing its entertainment industry assets. In particular the Company's ongoing negotiations with streaming platforms and larger film studio partnerships, over the days and weeks to come.
Stated Seven Arts' CEO, Jason Black: "We continue to advance on everything that has been outlined over the past 12 months and I'm very pleased with our current trajectory. Many are likely unaware that I have prior experience consulting on bringing dormant entities to current SEC reporting. I'm familiar with the audit process and I believe it will go quickly and smoothly. I remain committed on continuing to deliver on the goals I've outlined since taking over at Seven Arts."
This press release contains forward-looking statements. The words 'believe,' 'may,' 'estimate,' 'continue,' 'anticipate,' 'intend,' 'should,' 'plan,' 'could,' 'target,' 'potential,' 'is likely,' 'will,' 'expect' and similar expressions, as they relate to us, are intended to identify forward-looking statements. The Company has based these forward-looking statements largely on our current expectations and projections about future events and financial trends that we believe may affect our financial condition, results of operations, business strategy and financial needs. Some or all of the results anticipated by these forward-looking statements may not be achieved. Any forward-looking statement made by us herein speaks only as of the date on which it is made. Factors or events that could cause our actual results to differ may emerge from time to time, and it is not possible for us to predict all of them. The Company undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future developments or otherwise, except as may be required by law.
SOURCE: Seven Arts Entertainment, Inc.
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