ATLANTA, GA / ACCESSWIRE / July 7, 2022 / Seven Arts Entertainment Inc. (OTC PINK:SAPX), the "Company", is pleased to provide a shareholder update on the progress of its projects.
The Company has completed principal photography of its documentary film, tentatively called "Manspeaker". The film documents the enigmatic Founder of the band Green Jelly, Bill Manspeaker. Green Jelly is the world record holder of the world's largest band. Green Jelly rose to prominence in the early 1990's as the first band to sign a video recording contract and later nominated for a Grammy. The film further details how Manspeaker was instrumental in incubating iconic acts such as Tool and Rage Against The Machine.
The Company believes this project is extremely viable, after comprehensive research into the market for nostalgic music documentaries such as The Dirt, and the upcoming FX mini-series on the Sex Pistols.
Prior to filming, the Company engaged in pitches and conferences with executives affiliated with Blackhall Studios, Blumhouse Productions, and HBO Max, which expressed significant interest in picking up the film, pending review of trailers. The lowest figure discussed being $5mm USD upfront and revenue share that could exceed $20mm USD.
In addition to the film, the Company and its subsidiary, Muse Media, has leveraged additional contracts with Mr. Manspeaker to develop NFT's and produce a new album.
The NFT's will feature limited historical content of the band Green Jelly. Including but not limited to, Metallica lawsuit docs, original posters with the band Tool as a supporting act, faxes from Gene Simmons, and more.
The album is expected to be released in conjunction with the documentary and offered with ticket purchases at film screenings. Thereby registering the albums pre-sales significantly higher than conventional releases.
The total revenue between the film, NFT's and the album are projected to be in excess of $40mm USD revenue booked to Seven Arts.
Based on the Company's success over the previous fiscal year, becoming current and reducing 62% of outstanding shares, in conjunction with the various Manspeaker/Green Jelly projects, the Company feels confident it can reach its intended goal of up-listing to SEC reporting in the near term. Seven Arts has already begun taking steps to facilitate audited financials.
In addition, the Company continues to make progress on its Atlanta sound stage facilities. Including a new additional consultant that has worked on over 300 feature films. Seven Arts anticipates an October launch date. The Company believes the facilities, in the burgeoning Atlanta film industry, will generate an additional $12mm USD annual revenue from outsourcing to third party production companies.
As previously stated, the forementioned represents Seven Arts' current operations. Following the dissemination of the Company's fiscal year end report, for the period ending June 30, 2022, the Company will present additional information on new projects and endeavors, that have yet to be disclosed. Seven Arts is very excited for its prospects into the new fiscal year and beyond.
Stated Seven Arts CEO, Jason Black: "Following a calculated quiet period, leading into the Company's first fiscal year as a reporting company, after nearly six years of dormancy, I'm very proud of what we've achieved thus far, what we currently have under development, and what we have planned to announce for the current fiscal year. I'm firmly committed to restoring value back into the Company on behalf shareholders, maintaining non-dilutive financing. I look forward to continuing to update shareholders over the next few weeks on our initiatives moving forward."
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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