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Imperia Secures $800,000 Worth of Non Equity Financing for Feature Film, ``Never Submit''
Dec 14, 2006 09:45:04 (ET)
BEVERLY HILLS, Calif., Dec 14, 2006 (BUSINESS WIRE) -- Imperia Entertainment, Inc. (Pink Sheets:IPEI) Chairman Kenneth Eade announced today that the company has secured financing for $800,000 of the budget of "Never Submit" that does not involve stock sales or a percentage of equity of the film. The financing package is a combination of product placement and $500,000 in state cash rebates. "This financing is important because it eliminates the need to sell preferred stock, which would normally be sold and which will dilute our outstanding shares," said Kenneth Eade, Chairman and Executive Producer. "It also allows the company to retain a higher percentage of equity in what management believes will be its most profitable film," he added. "With pay per views reaching up to $30 million in sales and subsequent DVD sales for mixed martial arts climbing," it is a plus for the company to engage in this type of financing, said James Hergott, company president.
ABOUT "NEVER SUBMIT"
"Never Submit" is an inspirational tale similar to "Rocky," but the lead character is an intelligent young man (as are most fighters competing in this sport) rather than a beaten-down punch-drunk fighter. An amazing cast of characters will round out this film; each from different walks of life; each with his own set of circumstances and motivating factors driving him to be the best. Never Submit is a metaphor describing the way these athletes live their lives. Imperia will cast a combination of name actors and champion fighters for "Never Submit."
Imperia Entertainment recently announced a partnership with TapouT Magazine ( www.tapoutmagazine.com ) as part of a cross-country tour to promote the publication as well as the movie. Stops at select dojos to hold auditions for "Never Submit" are being finalized. TapouT Magazine readers can expect to see the mixed martial arts movie prominently featured in the bi-monthly publication throughout the casting, filming and theatrical release stages, as well as enjoy behind the scenes details from "Never Submit" director James Hergott, one of TapouT Magazine's newest contributors.
ABOUT IMPERIA ENTERTAINMENT
Imperia Entertainment, Inc. ( www.imperiaentertainment.com ) is a company that has emerged as a player in the area of independent film production and distribution, once monopolized by the major film studios. In conjunction with its distribution subsidiary, Imperia International Distribution, the company engages in investing in and producing and distributing full-length feature films. Along with its equity interest in "All That I Need" ( www.allthatineed.net ), released in theaters last December, and now being marketed at the American Film Market (AFM) for DVD distribution, Imperia's film properties include its feature film, "Say It In Russian" ( www.sayitinrussianmovie.com ), starring Faye Dunaway and Agata Gotova, "Brothers," by Tarquin Gotch ("Home Alone"), "Whiskers," a family film, made by Imperia's subsidiary, Muller Media, Inc. (Pink Sheets:MUME), and the award-winning "Autograph" television series ( www.autograph.tv ), which airs on the OlympuSAT system.
This press release contains statements, which may constitute "forward-looking statements" within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act of 1995. Those statements include statements regarding the intent, belief or current expectations of Imperia Entertainment, Inc. and members of its management as well as the assumptions on which such statements are based. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those contemplated by such forward-looking statements. Important factors currently known to management that could cause actual results to differ materially from those in forward-statements include fluctuation of operating results, the ability to compete successfully and the ability to complete before-mentioned transactions. The company undertakes no obligation to update or revise forward-looking statements to reflect changed assumptions, the occurrence of unanticipated events or changes to future operating results.
SOURCE: Imperia Entertainment, Inc.
Imperia Entertainment, Inc. James Hergott, 310-275-0089 or Vivian Fullerlove, 972-562-0616 (Public Relations)
Posts: 2063 | From: Europe | Registered: Feb 2006
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I really can't see this thing going any lower...looks like a good time to get in for a Huge Bounce. Any thoughts?
Posts: 2063 | From: Europe | Registered: Feb 2006
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quote:Originally posted by Robbie English: I really can't see this thing going any lower...looks like a good time to get in for a Huge Bounce. Any thoughts?
Unfortunately I can see it going lower. The CEO is a likeable enough fella, but this thing has been diluted a little bit too much for my taste. COuld be a nice play soon, but my _guess_ is that it finds support in .03 land
He's no George Furla, but he's not the best business man IMO.
Posts: 949 | From: Little Rock, AR | Registered: Dec 2005
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Having worked on several films I see this as straight to cable & DVD...Click IMDB for more on this film IMDBPosts: 583 | From: Northridge, CA | Registered: Apr 2006
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Even if it is a straight to Video or made for Cable TV movie, it has huge advertising potential, hence a good chance of gaining over it's budget.
Posts: 2063 | From: Europe | Registered: Feb 2006
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