Seven Arts Entertainment Inc. (OTCMKTS:SAPX) has appointed Thom Hazaert to its Board of Directors, as announced on August 24, 2022. He is an entertainment industry icon, who has participated in deals valued over $300 million USD within the music and film industries. He will now assume a more active role as Chief Revenue Director and Director of A&R in shaping the company’s strategy for further growth.
Trading Data
On Thursday, SAPX stock fell 10% to $0.0018 with more than 13.35 million shares, compared to its average volume of 12.05 million shares. The stock moved within a range of $0.0018 – 0.0021 after opening trade at $0.0020.
Thom Hazaert Tapped as Board Member for Entering Final Stages of Film and Music Streaming Deals on Behalf of Seven Arts Entertainment
Mr. Hazert has marketed and managed many iconic Rock acts including Limp Bizkit, Staind, Def Leppard, Korn, Nine Inch Nails, Marilyn Manson, Papa Roach, and more. He has also been involved in marketing on major studio films and soundtracks including Saw 3, Stigmata, and Rock Star.
As Director of A&R for Seven Arts Music, Mr. Hazaert has identified several notable music acts that are currently between labels that the company is negotiating with to revise its record label roster. Developing new music with known artists is projected to generate an additional $10 million USD over the next 5 years.
Seven Arts Entertainment Adds New Partnerships and Personnel, Provides Further Updates
On July 20, 2022, the company formed a new partnership with Ascended Entertainment. Ascended will supervise 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. The company has also retained an experienced Pro Tools certified engineer who has worked in some of the biggest Atlanta studios and on projects for major artists, to oversee all of Seven Arts/Muse audio mixing and production needs.
Technical Data
SAPX stock is trading below the 20-Day and 50-Day Moving averages of $0.0022 and $0.0021 respectively. Moreover, the stock is trading below the 200-Day moving average of $0.0023. The company has a total market capitalization of $642K. The stock is down 45% over the past month.
