Mike The Pike Productions, Inc. Announces Material Shareholder Update
July 11, 2012 at 09:30 AM EDT
Mike The Pike Productions, Inc. Announces Material Shareholder Update
LOS ANGELES, CA- July 11, 2012- Mike The Pike Productions (OTC: MIKP) an entertainment company with a focus in feature films, graphic novels and media holdings, issues the following update for shareholders in the company in a continued employment of actions toward increased shareholder value in line with company growth, including settlement of debt & liabilities, reduction of authorized and outstanding shares, finalization of feature films, sales and distribution of feature films, development of feature film and graphic novel properties. CEO/Producer, Mark B. Newbauer issues the following report on behalf of the company:
In Q2, Mike The Pike Productions launched an aggressive program to reduce debt and liabilities as well as share structure in a long-term commitment to growth and added-value for its shareholders.
Material transactions in regards to share structure include:
May 23, 2012- Nearly 50%Reduction of Authorized Shares from 5b to 2.586b
June 11, 2012- Reduction of Outstanding Shares by 150,000,000 from 2.586b to 2.436b
June 18, 2012- Reduction of Outstanding Shares by 60,000,000 from 2.436b to 2.376b
June 21, 2012- Reduction of Outstanding Shares by 53,000,000 from 2.376b to 2.323b
June 29, 2012- Reduction of Outstanding Shares by 74,683,347 from 2.323b to 2.249b
June 29, 2012- Reduction of Authorized Shares by 337,683,347 from 2.586b to 2.249b
The company reduced more than 50% of its Authorized Shares and 13.5% of its Outstanding Shares in Q2 with plans for continued added value therein.
Material transactions in regards to reduction of debt/liabilities include:
June 1, 2012- Reduction of Current Liabilities by $190,000
June 7, 2012- Reduction of Long-Term Liabilities by $236,834
June 15, 2012- Reduction of Long-Term Liabilities by $104,000
July 10, 2012- Reduction of Long-Term Liabilities by $142,077
Total reduction of debt and long-term liabilities since Q1 = $672,911 resulting in the lowering of debt/liabilities in total from $1,582,953 to $910,042 with continued plans to reduce debt and build assets through 2012.
FEATURE FILMS: Effects driven sci-fi thriller, White Space, (www.enterwhitespace.com)is currently in post-production. Principal photography took place in Spring/Summer 2011 and Producers are currently working to ensure the film is completed in a timely manner toward the best possible sales outcome. Post Production elements include visual effects, editing, score, color grading among others.
The team looks to have a trailer and/or sizzle reel completed for the film by this year's American Film Market (www.americanfilmmarket.com) and Producers have already received a number of unsolicited requests from distributors (domestic and foreign) with interest in the project. The film stars Holt McCallany (Gangster Squad, Bullet to the Head) and Zulay Henao (Takers, Fighting, Hostel III) and is written by Clay McLeod Chapman, based on a story by Ryan Colucci (The Skin Trade, Harbor Moon).
The company has also Optioned the rights to the World Fantasy Award Winning 'The Skin Trade' (www.theskintrademovie.com) by New York Times Bestselling author, George R.R. Martin, the mastermind behind HBO's increasingly popular 'Game of Thrones'. Currently in script stages, Producers Mark B. Newbauer and Ryan Colucci look to package The Skin Trade with director and/or cast with at least 2 additional werewolf projects for this year's American Film Market.
The company believes both films to have multi-million dollar sales/distribution potential.
The company is currently in negotiation for film rights to another book to be announced upon closing
Mike The Pike Productions recently acquired Saint James Films, LLC- a movie studio producing highly entertaining genre movies for the worldwide marketplace. The company is headed by Mike The Pike CEO, Mark B. Newbauer and sales/distribution veteran and Ted Chalmers, founder/CEO of genre powerhouse, TomCat Films, LLC (www.tomcatfilmsllc.com).
In addition to projects acquired in the deal, the company under new ownership has produced two feature films, 'Agent Beetle' and 'Captain Battle' (http://saintjamesfilms.com/?cat=17) which have secured a distribution deal with TomCat and active sales agreements for foreign territories including Germany, Thailand, Malaysia/Singapore and Indonesia and expects additional sales to U.S., Canada, Latin America and other Key Territories. Each film was produced for under $1m and both have recouped their initial budgets into net profits via pre-sales agreements.
Saint James Films (www.facebook.com/saintjamesfilms) has recently begun pre-production on sorority-slasher, 'Revenge of Lizzie Borden' and looks to have the film fully finished by end of August 2012 to be presented at this year's AFM alongside the company's current slate with announcement of at least two additional projects this year.
SJF is also in negotiation for distribution rights to Zombie franchise, Aftermath, the first picture of which is currently in production.
GRAPHIC NOVELS- Mike The Pike Productions is partnered with Spoke Lane Entertainment (www.harbor-moon.com)to publish three books this year including mind-bending thriller 'R.E.M'., fantasy 'Bulderlyns' and twisted murder mystery, 'Chasing Rabbits'. Spoke Lane's Ryan Colucci is overseeing the projects and updates on the books can be found frequently on Colucci's website http://ryancolucci.wordpress.com/ or the MTP blog. The books are aimed at both profitability and source material for feature film development and/or film rights sales.
Quarterly Report for Q2 is currently underway and the company aims to file before the deadline of August 15, 2012. The company's goal into 2013 is to continually improve the company's share structure while reducing debts and increasing revenues toward an uplist to BB, AMEX or NASDAQ.
If you missed the www.stocktraderstalk.com Radio interview and you are a shareholder or prospective shareholder of MIKP, it is highly recommended by company execs that you give a listen as a companion to what all involved feel will be a game changing year for the company.
The interview can be reviewed on STT website, Investorshub Auditorium or on our blog at: http://blog.mtpprods.com/2012/05/23/werewolves-superheros-and-reduced-authorized-share-count/.
About Mike The Pike Productions, Inc..: Mike The Pike Productions is an entertainment company specializing in feature films, graphic novels and media acquisitions. Overall, MIKP projects are 'Mainstream Independent', combining a well-structured vision with top-tier talent; challenging current standards while maintaining mass appeal. Official Company Website: www.mtpprods.com
CEO Mark B. Newbauer's bio on IMDB: http://www.imdb.com/name/nm1474431/bio
MIKP IMPORTANT SHAREHOLDER LINKS
* Visit our website at www.mtpprods.com
* MTP Facebook: www.facebook.com/MTPfb
* White Space official website: www.enterwhitespace.com
* White Space Facebook: www.facebook.com/enterwhitespace.com
* George R.R. Martin's The Skin Trade: www.theskintrademovie.com
* GRRM The Skin Trade Facebook: www.facebook.com/BlackstoneManor
* Subsidiary- Saint James Films, LLC: www.saintjamesfilms.com
* Saint James Films on Facebook: www.facebook.com/saintjamesfilms
Safe Harbor Statement
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These forward-looking statements are based on the current plans and expectations of management and are subject to a number of uncertainties and risks that could significantly affect the company's current plans and expectations, as well as future results of operations and financial condition. A more extensive listing of risks and factors that may affect the company's business prospects and cause actual results to differ materially from those described in the forward-looking statements can be found in the reports and other documents filed by the company with the Securities and Exchange Commission. The company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
Mark B. Newbauer
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Source: Mike the Pike Productions, Inc. (OTC Pink: MIKP) http://www.mtpprods.com/
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