HALLANDALE BEACH, FL--(Marketwired - Sep 28, 2016) - The Movie Studio, Inc. (OTC PINK: MVES) ("TMS" or the "Company"), www.TheMovieStudio.com is pleased to announce the receipt of initial payment and execution of an agreement to license six (6) of the nineteen films (19) scheduled for immediate delivery of its majority and wholly owned feature films to the territory of Italy until 2023.
The pre-sale agreement(s) were executed by The Movie Studio, Inc. at the 69th Cannes Film Festival in May of this year and was effectuated upon the Company's receipt of initial payment for the first six (6) films.
These movies have been released theatrically by such major studios as Twentieth Century Fox, Paramount, Sony Pictures, New Line Cinema, and Lionsgate prior to The Movie Studio adding the films to its library of motion pictures.
The Movie Studio expects to have completed the agreement by delivering the films and receiving full payment of the minimum guarantee due to the Company based on the agreement without trailing revenues within the next 30 days and cumulative revenues derived from the licensing of these assets are to be released in the Company's next annual report.
"The Movie Studio is extremely excited about licensing quality motion picture titles to new available territories, re-licensing existing territories and new Video On Demand (VOD) platforms."
"We continue to establish worldwide distribution agreements leveraging our strategy of growth by acquisition of existing films and bundling of new films for distribution which can increase shareholder equity and residual net asset value (NAV) while hedging negative NAV impact. We are excited about our newest motion picture distribution partner in Italy and look forward to a long term relationship." Gordon Scott Venters President and CEO announced today.
About The Movie Studio Inc.
The Movie Studio, Inc. is a vertically integrated motion picture production and distribution Company with completed motion picture and production assets. The Company acquires, develops, manufactures, and distributes independent motion picture content for worldwide consumption in Theatrical, Video on Demand (VOD), Foreign Sales and on various media devices. For more information, visit www.TheMovieStudio.com.
Forward Looking Statements and Disclaimer
Statements made in this press release that express the Company or management's intentions, plans, beliefs, expectations or predictions of future events, are forward-looking statements. The words "believe," "expect," "intend," "estimate," "anticipate," "will" and similar expressions are intended to further identify such forward-looking statements, although not all forward-looking statements contain these identifying words. Those statements are based on many assumptions and are subject to many known and unknown risks, uncertainties and other factors that could cause the Company's actual activities, results or performance to differ materially from those anticipated or projected in such forward-looking statements. The Company cannot guarantee future financial results; levels of activity, performance or achievements and investors should not place undue reliance on the Company's forward-looking statements. No information contained in this press release should be construed as any indication whatsoever of the Company's future financial performance, future revenues or its future stock price. The forward-looking statements contained herein represent the judgment of the Company as of the date of this press release, and the Company expressly disclaims any intent, obligation or undertaking to update or revise such forward-looking statements to reflect any change in the Company's expectations with regard thereto or any change in events, conditions or circumstances on which any such statements are based. No information in this press release should be construed as any indication whatsoever of the Company's future revenues or results of operations.