ATLANTA, GA / ACCESSWIRE / August 1, 2022 / Seven Arts Entertainment Inc. (OTC PINK:SAPX), the 'Company', is pleased to inform shareholders of new partnerships and provide additional updates.
On July 20, 2022, Seven Arts established a new partnership with Ascended Entertainment. Ascended was formerly a west coast production company now operating in the Atlanta market. Ascended will oversee postproduction film work for Seven Arts, and its subsidiary, Muse Media (Seven Arts/Muse). Postproduction tasks overseen by Ascended would include, but not limited to, film editing and ADR (automated dialogue replacement) on Seven Arts/Muse projects. Ascended will maintain an office at Seven Arts' Atlanta facilities and Postproduction work will be performed on site.
Additionally, the Company has retained an experienced Pro Tools certified engineer to oversee all of Seven Arts/Muse audio mixing and production needs. Pro Tools is the film industry standard for cinematic audio engineering and Dolby Atmos mixing. The Company is very excited to have found an engineer that has worked in some of the biggest Atlanta studios and on projects for major artists, willing to join the Seven Arts/Muse team.
Both additions to Seven Arts/Muse come in anticipation of the upcoming completion of the Company's Atlanta production facilities. The Company believes the infrastructure it is developing places it ahead of the curve as Atlanta continues to cement itself as the East Coast's Hollywood.
Finally, as previously announced, the Company continues to address the small convertible note it had taken last year to cover fees inherited by new management. On July 29, the Company submitted to the lender a Debt Settlement Agreement. The Company is confident after prior negotiations that the Agreement will be entered in the coming days.
Stated Seven Arts' CEO, Jason Black: 'We're continuing to make rapid strides and add new partnerships every month. This has been made much easier due in part that many people within the Atlanta film industry are aware of the facilities we're building and are increasingly interested in establishing synergies with the Company. Unlike Los Angeles, there are still few dedicated studios in Atlanta, despite its continued growth in the film industry. Most postproduction and audio mixing still gets sent back to L.A. after filming is wrapped in Atlanta. We strongly believe our facilities will be a welcomed solution for productions already operating in and around Atlanta. We will continue to update shareholders on additional developments as they occur.'
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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