Seven Arts Entertainment Provides Shareholder Update
Seven Arts Entertainment Inc. (OTC PINK:SAPX), the “Company”, is pleased to provide a shareholder update.
The Company would like to begin by revisiting some of what current management has accomplished in under 12 months:
- Current in reporting to OTC after nearly 6 years of dormancy
- Settled years of accrued debts with Transfer Agent
- Reduced Unlimited A/S to 4.5 billion A/S
- Reinstatement of Seven Arts Music subsidiary
- Acquisition of Muse Media subsidiary
- Entered into several new production deals
- Launched new websites for Seven Arts and Muse
- Obtained accounts and wallets for Metaverse and NFT development
- Reduced Common Shares by 2.5 billion (62%)
- Further reduced A/S to 1.8 billion
- Successfully defended against frivolous lawsuit with fees owed to the Company
Going forward, the Company has several new and significant developments that will announce shortly. Including moving toward entering into talks with a major production company that has recently been announced in the news as becoming the largest film studio in the Southeast.
The Company expects to complete its Atlanta facilities in August which is expected to be the most advanced Dolby Atmos mixing studio in the Atlanta region.
Additionally, Seven Arts will begin production of its documentary of a Los Angeles music industry icon in May. Further details will be announced in upcoming releases.
Furthermore, the Company has already entered into several recent agreements that will allow much greater production and distribution capabilities. These deals will be announced separately in greater detail shortly as well.
Finally, following the Company’s next annual report this summer, management believes Seven Arts should have sufficient financial reports to engage an auditor for the sake of up listing to an SEC reporting tier. The Company will closely evaluate this potential step over the next few months.
Stated Seven Arts CEO, Jason Black: “I’m personally very pleased with what we have accomplished in the past 10 months and that it was appropriate to briefly reflect on how far we’ve come in a short time before presenting further detailed developments. Despite a few unreasonable demands and protestations from the trading public, I appreciate the vast support and engagement I have received from our shareholders that understand Rome wasn’t built in a day. Though the Company cannot directly do much to impact how our public stock trades, I’m confident our progress will soon be reflected in the share price and increase shareholder value. I believe the actions we are taking, that will soon be detailed in upcoming releases, will crystalize our commitment to once again making Seven Arts a significant brand in the film and entertainment industry.”
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.