MTP’S SUBSIDIARY, SAINT JAMES FILMS, SIGNS TED CHALMERS AS COO/PRESIDENT
LOS ANGELES—(BUSINESS WIRE)—Mike The Pike Productions (OTC: MIKP) announces today that sales and distribution veteran, Ted Chalmers (http://www.imdb.com/name/nm0150043/) will serve as President and Chief Operating Officer of its newly acquired subsidiary, Saint James Films, which specializes in producing low budget and microbudget films (under $1m budget) for worldwide distribution.
Chalmers, former SVP of Media Brokerage for ICAP Media Markets (a division of www.icap.com), is also CEO of TomCat Films (www.tomcatfilmsllc.com), a company with an impressive track record in which all of its productions have been profitable to date. Ted has extensive experience in the realm of film production, sales and distribution for worldwide markets. He has been involved with the sales and distribution of such well known films as The Texas Chainsaw Massacre, Hellraiser, Escape From New York, One False Move, Re-Animator and Evil Dead 2, among dozens of others.
Mike The Pike Productions CEO, Mark B. Newbauer, will meet with Chalmers in person this week to discuss Saint James Films (www.saintjamesfilms.com) and their agenda moving forward. “We’re thrilled to have Ted on board as President/COO. His years of experience and expertise set us ahead of schedule in a very big way in terms of overall potential and opportunity,” states Newbauer.
Saint James Films’ December 2011 financial statement saw total net assets in excess of $170,000 and the company currently projects additional positive cash-flow in excess of $250,000 for 2012 via proceeds for both existing contracts and films currently in various stages of development and production.
Saint James Films expects to achieve revenues in excess of $1m by end of 2013, at which point it will be fully engaged in acquiring properties as well as producing original content for worldwide distribution with $5m in revenues by end of 2014 in a ever-progressing business model that will focus in low budget, high quality genre content for worldwide markets. These figures are based on conservative low-end projections with potential for exponentially more as the company continues to increase product flow and enhance production value for each project. MIKP has increased its authorized shares to 5b to allow for acquisitions similar to the Saint James Films success through 2012-2013. In line with this strategy, Mike The Pike Productions is in negotiations to retire up to $500,000 in long-term liabilities and confirms that it will not effect a reverse split in 2012. The company does this toward overall benefit to MIKP shareholders and long-term company growth.
As mentioned in a previous release, Saint James Films includes a network with extensive experience in production, sales, distribution and investment banking; creating content with longstanding relationships to buyers worldwide and with presence at major film markets around the world, including the AFM, MIPCOM, Berlinale and Cannes. The company looks to make a material announcement in early April in line with its strategy and achievements for growth and added value through 2012.
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