Movie investment, licensing and intellectual property firm AB International Group Corp (OTCMKTS:ABQQ) came up with a number of business updates with regards to its cinemas yesterday. The company announced that its cinema business unit AB Cinemas NY Inc started work on the operations of “The Mt. Kisco Theatre New York” and it had become completely operational last November.
Trading Data
On Monday, ABQQ stock ended flat at $0.0004 with more than 390.33K shares, compared to its average volume of 23.55 million shares. The stock moved within a range of $0.0003 – 0.0004 after opening trade at $0.0004.
AB INTL GROUP Announces Movie Theaters Business Updates
The announcement from the company was with regards to the sort of progress that it had made in the cinema business. As of yesterday the first cinema that had been established by the company had managed to record as many as 10301 admits in 2034 shows spanning across as many as 33 movies produced by some of the leading studios in the industry.
The movies in question had been released by Fox Searchlight Pictures, Walt Disney Pictures, Warner Brothers, Universal Pictures, Sony Pictures, MGM, Open Road, Paramount, Apple TV+ and 20th Century Fox among others. AB International Group Corp noted yesterday that it was going to continue with its cinema acquisition strategy and successfully acquire as many as 10 new theatres on the east coast, which would add a total of 5000 new seats. The company is seeing to achieve the economies of scale which are necessary for a successful business.
