Camelot Bullish on 2009
22 Dezembro 2008 - 1:30PM
PR Newswire (US)
Acquisition, Production, Studio Development and Financing Activity
All Expected to Increase in Upcoming Year ALISO VIEJO, Calif., Dec.
22 /PRNewswire-FirstCall/ -- Camelot Entertainment Group, Inc.
(OTC:CMLT) (BULLETIN BOARD: CMLT) announced today that it expects
acquisition, production, studio development and financing activity
to increase in 2009 after a tough and turbulent 2008. The company
has continued to make progress on a number of projects across all
three of its divisions, Camelot Film Group, Camelot Studio Group
and Camelot Production Services Group, as it adapted its business
plan to evolve in a rapidly changing worldwide economy. Despite
being slowed by new fiscal realities, the company continued
negotiations on two key distribution and production acquisitions it
had hoped would be in the final stages by now. Camelot now expects
wrapping up letters of intent during the first quarter of 2009 as
long as the current domestic and international economic climate
doesn't continue to deteriorate. The company wants to make sure
that the funding to complete the acquisitions will be available
once the transactional documents are finalized. Camelot Film Group
has accelerated its acquisition and development of several film
projects through Camelot Features, with upcoming productions
scheduled to be announced right after the first of the year. The
company had expected to be further along on some of the projects,
but efforts had been slowed by the uncertain short-term future of
the economy. Camelot Studio Group is actively pursuing
opportunities in California and Louisiana for physical studio
developments and expects to announce a new management team in early
2009, including the addition of a new development partner. After a
slow start, the late-stage bridge financing program in the
company's production services group division is expected to gain
momentum in 2009 with the planned addition of a key executive to
specifically oversee this important program. The company has also
moved forward with its plans to provide consulting services to
other producers, production companies and distributors. Overall,
the company expects to overcome the financial obstacles it faced in
2008 in part by further streamlining in-house operations in 2009
while relying more on outside resources as it continues to
implement its business plan and focus on shorter term revenue
generating activities. In addition, the company has begun a
complete overhaul of its web site. When completed, the new site
should greatly enhance communications between the company and its
stockholders, clients and the public. The company also plans to
move forward with its major financing package that had been delayed
in 2008. About Camelot Entertainment Group, Inc.: Camelot
Entertainment Group, Inc. is a US publicly traded company (symbol
"CMLT") with three major divisions: Camelot Film Group, Camelot
Studio Group and Camelot Production Services Group. Camelot is
building a different kind of motion picture studio infrastructure
by redefining the development, financing, production, and
distribution process. Creating a world where filmmaking dreams come
true, Camelot integrates early studio models, education, new
technologies and fiscal responsibility to acquire, develop,
finance, produce, market and distribute high quality commercial
motion pictures, television and digital media. For general
information about Camelot Entertainment Group, Inc., please visit
the Company's web site at http://www.camelotfilms.com/. NOTES ABOUT
FORWARD-LOOKING STATEMENTS Except for any historical information
contained herein, the matters discussed in this press release
contain forward-looking statements that involve risks and
uncertainties, including those described in the Company's
Securities and Exchange Commission Reports and Filings. Certain
Statements contained in this release that are not historical facts
constitute forward-looking statements, within the meaning of the
Private Securities Litigation Reform Act of 1995, and are intended
to be covered by the safe harbors created by that Act. Reliance
should not be placed on forward looking statements because they
involve unknown risks, uncertainties and other factors which may
cause actual results, performance or achievements to differ
materially from those expressed or implied. Forward-looking
statements may be identified by words such as estimates,
anticipates, projects, plans, expects, intends, believes, should
and similar expressions and by the context in which they are used.
Such statements are based upon current expectations of the Company
and speak only as of the date made. The Company undertakes no
obligation to update any forward-looking statements to reflect
events or circumstances after the date on which they are made.
DATASOURCE: Camelot Entertainment Group, Inc. CONTACT: Investor
Relations, Camelot Entertainment Group, Inc., +1-949-334-2950 Web
site: http://www.camelotfilms.com/
Copyright