The Movie Studio Inc (OTCMKTS:MVES) showed no sign of movement during the previous trading session. The latest update that came from the company was nearly a fortnight back when it declared to have completed 60% interest acquisition in Seven Arts Filmed Entertainment Louisiana LLC (SAFELA) from Seven Arts Entertainment Inc.
New markets and opportunities
Following the acquisition of these interests, SAFELA Inc has become a wholly owned subsidiary of The Movie Studio Inc (OTCMKTS:MVES). However, SAFELA will continue to service and manage all its existing contracts as well as distribution channels as usual. At the same time, the ownership of interests will enable the company to explore new markets and distribution channels along with SAFELA.
As per the terms of the acquisition, The Movie Studio has issued preferred voting stock worth $750,000 to Seven Arts Entertainment. Such issued stock can be converted into the company’s common stock at the conversion price, calculated as per the terms of the agreement. Also, the company has also assumed nearly $2,000,000 worth of convertible noes of Seven Arts Entertainment.
Cybergy’s awareness month
As a result of this acquisition, The Movie Studio Inc (OTCMKTS:MVES) has got the access of SAFELA movie library, which features movies of some of the best actors of Hollywood. Tom Sizermore, John Goodman, Burt Reynolds, are some of the stars, who movie are included in the library. At present, the distribution of SAFELA library extends to Lionsgate, MGM, First Look, among others. Thus, it is clear that the acquisition of SAFELA holds immense value for The Movie Studio. Also, the event will give an opportunity to the company to bundle its films for both foreign and domestic distribution in various territories.
Aside from The Movie Studio, Cybergy Holdings Inc (OTCMKTS:CYBG) remained another significant stock that showed the volume of 99,300 shares during the last day’s trade. The stock shed 2% to close at $0.0980. Cybergy held a discussion on staying protected while using the mobile internet, during the third week of the National Cyber Security Awareness Month.