Mike The Pike Prods (PC) (USOTC:MIKP)
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Today : Friday 16 March 2012
Mike The Pike Productions (OTC: MIKP) announces today that it has acquired Saint James Films, LLC ( www.saintjamesfilms.com ) as a wholly owned subsidiary. The deal was signed effective January 23, 2012 and books, records, domains and contracts delivered earlier this week. Saint James Films produces low-budget genre films for the global marketplace that have proven particularly attractive to buyers in international markets. The business model focuses on films with budgets under $1m with potential for significant ROI.
Paramount Pictures recently adopted a similar model: http://latimesblogs.latimes.com/entertainment...ision.html
Saint James Films (SJF) ( www.saintjamesfilms.com ) includes a network with extensive experience in production, sales, distribution and investment banking; creating content with longstanding relationships to buyers worldwide and with presence at major film markets around the world, including the AFM, Berlinale and Cannes.
As MIKP ( www.mtpprods.com ) CEO, Mark B. Newbauer, stated in an earlier release, “The acquisition is a no-brainer in terms of an asset acquisition with active accounts receivables. All of the films produced thus far by the seller have included pre-sales to foreign territories in excess of their original budgets, giving Mike the Pike Productions a proven business model for consistent cash-money revenues.”
Key executives for SJF to be announced in a follow up release soon, as well as logo/website updates and detailed plans for the subsidiary’s achievements and agenda for 2012.
MTP and its partners have currently locked a final rough cut of sci-fi thriller, White Space, and move to scan the picture to digital format, after which visual effects, score and other elements will be finalized toward optimal sales.
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