ACCESS Newswire
11 Jan 2022, 20:01 GMT+10
ATLANTA, GA / ACCESSWIRE / January 11, 2022 / Seven Arts Entertainment, Inc. (OTC PINK:SAPX), the 'Company', is pleased to announce 2.5 billion common shares have been returned to treasury.
With the share reduction complete, representing a 62% decrease in shares outstanding, Seven Arts' current management further intends to reduce its total authorized shares as well.
The Company continues to make progress on its new Atlanta facilities and development of its film and music assets. Further updates pertaining to ongoing operations will soon be announced.
Stated Seven Arts' CEO, Jason Black: 'I'm very pleased we were able to get this share reduction complete. Though it was a costly endeavor, I know the result was in the best interest of the Company and its shareholders. Now that the capital structure of the Company is vastly improved, we can focus on developing our portfolio of intellectual properties across film, music and even the metaverse.'
Forward-Looking Statements:
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.
Contact:
[email protected]
Twitter:
@SAPX_7arts
SOURCE: Seven Arts Entertainment, Inc.
Get a daily dose of Tennessee Daily news through our daily email, its complimentary and keeps you fully up to date with world and business news as well.
Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Tennessee Daily.
More InformationMADRID, Spain: Spain's push to curb short-term tourist rentals is being outpaced by the market's explosive growth, new data shows —...
NEW YORK, New York - U.S. stocks were mixed Wednesday as investors and traders grappled with the ADP report, which revealed payrolls...
DEARBORN, Michigan: Ford is pulling back tens of thousands of its electric pickup trucks over a steering defect that could lead to...
NEW YORK CITY, New York: Best Buy, the biggest electronics store chain in the U.S., has lowered its forecast for the year. The company...
ISSAQUAH, Washington: Costco is feeling the pinch from tariffs and soft consumer spending, missing Wall Street's revenue expectations...
NEW YORK, New York - U.S. stocks closed higher on Tuesday as the markets continues to ebb and flow on prouncements and moves by the...
CHICAGO, Illinois: A simple blood test could help breast cancer patients get the proper treatment earlier, potentially halving their...
DEARBORN, Michigan: Ford is pulling back tens of thousands of its electric pickup trucks over a steering defect that could lead to...
NEW YORK CITY, New York: Best Buy, the biggest electronics store chain in the U.S., has lowered its forecast for the year. The company...
SINGAPORE: On May 31, U.S. Defense Secretary Pete Hegseth told America's Indo-Pacific allies that they would not be left alone to deal...
ISSAQUAH, Washington: Costco is feeling the pinch from tariffs and soft consumer spending, missing Wall Street's revenue expectations...
WASHINGTON, D.C.: Tensions reignite in the U.S.-China trade truce after President Donald Trump accused Beijing of violating a recent...