Independent motion picture production and distribution company, Seven Arts Entertainment, Inc. (formerly Seven Arts Pictures, Plc) (OTCMKTS:SAPX), acquires, develops, finances, produces, and licenses theatrical motion pictures for an exhibition in theatrical markets globally. The company also licenses distribution rights in its motion pictures, produces and distributes recorded music, and operates a film production and post-production facility in New Orleans, Louisiana.
Trading Data
On Monday, SAPX stock slid 9.09% to $0.0030 with 5.52 million shares, compared to its average volume 10.57 million shares. The stock moved within a range of $0.0027 – 0.0033 after opening trade at $0.0033.
Seven Arts Entertainment Adds New Partnerships and Personnel, Provides Further Updates
Seven Arts Entertainment Inc. announced several updates on August 2, 2022, along with information regarding new partnerships. On July 20, 2022, the company established a new tie-up with Ascended Entertainment. Ascended will supervise post-production film work for Seven Arts, and its subsidiary, Muse Media. Such work includes, but isn’t limited to film editing and ADR (automated dialogue replacement) for Seven Arts/Muse projects. Post-production work will be performed in an office at Seven Arts’ Atlanta facilities.
Seven Arts has even hired 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 engineer has been associated with some of the largest studios in Atlanta and worked for major artists.
Stated Seven Arts’ CEO, Jason Black, has stated that things are progressing swiftly, with new partnerships being added each month. People in the Atlanta film industry are aware of the facilities being built and have expressed interest in establishing ties with the company. Most post-production and audio mixing still gets sent back to L.A. after filming wraps in Atlanta. These facilities will be an excellent solution for productions already operating in and around Atlanta. The infrastructure being developed should place the company ahead of the curve as Atlanta continues to cement its position as the East Coast’s Hollywood.
Seven Arts Entertainment Provides Update on Up-listing Efforts
On July 19, 2022, Seven Arts had filed an 8k with the Securities and Exchange Commission announcing that the company has engaged BF Borgers CPA PC to act as its auditor. An 8k filing is the first step to establishing a chronology toward its intent of up-listing from a Pink Alternative Reporter to an SEC reporter. It is followed by the filing of Form 10 and the requisite two years of audited financials.
After the recent conclusion of the Company’s June 30 fiscal year-end, management believes the timing is right in its stated strategy of continuing to resurrect the Seven Arts brand and restoring shareholder value. Shareholders will be appraised on its progress with audited financials, as well as its ongoing initiatives in developing its entertainment industry assets.
The company continues to address the small convertible note it had taken in 2021 to cover fees inherited by new management. On July 29, 2022, it submitted to the lender a Debt Settlement Agreement. It is confident after prior negotiations that the Agreement will be entered in the coming days.
Technical Data
SAPX stock is trading above the 20-Day and 50-Day Moving averages of $0.0025 and $0.0017 respectively. Moreover, the stock is trading above the 200-Day moving average of $0.0023. The company has a total market capitalization of $1.07 million. The stock is down 66% over the past 3-month.
