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"Empire has reached or exceeded each of the key objectives established regarding new title acquisitions, new program releases and material steps to become compliant as a fully-reporting company," said Bornstein. "We had a very successful market at the Cannes Film Festival, and have commenced a ten-title theatrical release schedule that will drive the company's revenues for the next 12-months. We believe that our business trajectory is on target to surpass those levels which were the basis of the favorable Beacon forecast for Empire."
The Beacon report reviewed Empire's position within the entertainment industry, with market trends, competitive factors and company strategy as the foundation for their forecast. With several high-profile new releases scheduled for Empire in 2009 and 2010, as well as the baseline revenue stream from company's film library and lucrative film and television production ventures, a target stock price of $.48 per share was projected.
Beacon Equity Research is a widely read and respected stock research and analysis firm, annually reviewing dozens of companies and issuing reports and forecasts. The principal analyst preparing the research report on Empire Film Group, Inc. was Senior Analyst Lisa Springer, MBA, CFA, who included a comparative study of industry conditions and competitors. The full Beacon report can be viewed at: http://issuu.com/beaconequity/docs/efgu
Empire acquired the North American distribution rights to seventeen new titles at the Cannes Film Festival and Market in May, including the recently announced animated adventure, "The Secret of Kells" and the Oscar-caliber drama, "The Countess." The award winning family drama, "War Eagle, Arkansas" is currently in theatrical release through Empire, with three other new titles slated for theatrical release in the next sixty days, "Chelsea on the Rocks", "Thru the Moebius Strip" and "Boilermaker." Empire is also proceeding with the production of several original properties, including the feature film and television pilot to "Havana Heat," and the supernatural suspense-thriller "ShadowVision."
"The company has generated a tremendous amount of positive momentum in the past year," said Bornstein. "We have identified a major market opportunity for Empire to specialize in the production and distribution of quality, mid-level budgeted films. Our production slate and newly acquired properties represent the top echelon of independent entertainment. The next twelve months should show explosive growth as we continue to meet and exceed our forecasts."
Empire Film Group, Inc. is a fully-integrated entertainment company, with in-house production capabilities to complement the company's distribution activities to theaters, home video and television markets. The senior executives of Empire are seasoned and proven entertainment industry professionals, withexpertise in production, theatrical distribution, video distribution and finance. The company produces some of the film and television properties it distributes, in addition to the licensing of third-party acquisitions for distribution. Empire also owns and operates Hannover House, a well-established book publisher and entertainment distributor founded in 1993.
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Learn more about Empire Film Group at www.empirefilmgroup.com
Contact: Jim Townsend, 310-317-4456 / JTownsend@EmpireFilmGroup.com
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