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 Pittsburgh Star 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 Pittsburgh Star.
More InformationNEW YORK CITY, New York: A federal judge has decided to take control of New York's Rikers Island jail away from city officials due...
WASHINGTON, D.C.: Parts of the U.S. and Canada may not have enough electricity this summer if hot weather causes more people to use...
CORAOPOLIS, Pennsylvania: Dick's Sporting Goods is set to acquire Foot Locker in a US$2.4 billion deal, marking the second major footwear...
MIAMI, Florida: Ken Griffin, the CEO of Citadel and a billionaire investor announced this week he would loan his rare first-edition...
CHICAGO, Illinois: Kraft Heinz is committing US$3 billion to revamp its U.S. manufacturing plants, marking its largest investment in...
WASHINGTON, D.C.: The largest firefighters' union in the United States is calling for federal antitrust authorities to investigate...
LEXINGTON, St. LOUIS: A strong spring storm caused tornadoes overnight in the U.S. Midwest and Ohio River Valley, killing at least...
BANGKOK, Thailand: An American political science teacher, Paul Chambers, is still stuck in Thailand, even though the government dropped...
NEW YORK CITY, New York: A federal judge has decided to take control of New York's Rikers Island jail away from city officials due...
KATHMANDU, Nepal: An Indian climber and a Filipino climber were the first to die on Mount Everest during the current climbing season...
MOSCOW, Russia: Russia has sentenced a 33-year-old Australian man to 13 years in a high-security prison for fighting with Ukrainian...
ALMATY, Tajikistan: Tajikistan has officially removed criminal liability for liking social media posts that the government deems extremist,...