Stereo Vision Entertainment, Inc. (OTCBB: SVSN), a film production company focused exclusively on developing high quality, low cost, polarized 3D feature films, announced today that it has retained the professional services of leading film financing expert Richard Kiratsoulis to jump-start the Company’s upcoming slate of 3D theatrical feature films.
Stereo Vision's Chief Executive Officer, Jack Honour, stated, "We're very excited to welcome Richard to the Stereo Vision family. His unique ability to finance feature films through off balance sheet financing techniques is well known throughout the entire entertainment industry. This type of film financing is non-dilutive to Stereo Vision shareholders, and will result in a combination of non-recourse debt, equity, and co-production subsidy benefits. Actually, under this film financing scenario utilizing a significant combination of co-production subsidies and foreign licensing agreements, it's quite possible that the Company may be able to commence principal photography on its 3D feature films in the black."
MR. KIRATSOULIS’ PROFESSIONAL EXPERIENCE:
Mr. Kiratsoulis was President and Chief Operating Officer of Media 8 Entertainment from 1994 - 2005. During this period, the company evolved from a foreign sales company to a leading independent film entertainment company, producing the Golden Globe and Academy Award winning film Monster (Charlize Theron). In 2004, he served as the principal production executive on seven other independent feature film productions with budgets aggregating nearly $100 million. These films included: Mike Binder’s critically acclaimed The Upside of Anger (Kevin Costner, Joan Allen), and Man About Town (Ben Affleck, Rebecca Romijn, & John Cleese); Wayne Kramer’s Running Scared (Paul Walker, Chazz Palminteri, & Vera Farmiga), released by New Line; Randal Kleiser’s Lovewrecked (Amanda Bynes, Jamie-Lynn Sigler), released by the Weinstein Company; Academy Award winner Barbara Kopple’s Havoc (Anne Hathaway, Freddy Rodriguez); Greg Marcks’ 11:14 (Hilary Swank, Barbara Hershey); and the Brett Ratner produced horror-comedy Santa’s Slay. Previously, his principal executive responsibilities involved overseeing all aspects of film finance, production, distribution, strategic planning, and contractual affairs; the “greenlighting” of all feature film projects; the negotiation of all bank financing and sophisticated global co-production transactions; supervision of all domestic and foreign distribution agreements; and oversight of all production budgets and major contract negotiations.
Currently, Mr. Kiratsoulis has been professionally engaged as a senior executive consultant specializing in the areas of film financing, production, and distribution for several independent film companies and financiers. These services primarily involve the negotiation of structured film financing deals along with the implementation of comprehensive production and distribution cost-saving programs. Mr. Kiratsoulis has raised P&A financing and served as the primary advisor for certain domestic releases; with one film theatrically debuting in the U.S. top ten and becoming one of the top five independently grossing films of the year. He is also currently serving as an Entertainment Film Financing and Distribution instructor at UCLA.
About Stereo Vision
Located in Van Nuys, California, Stereo Vision Entertainment Inc. (stereovision.com) is a film production company focused exclusively on high quality, low cost, next generation 3D feature films. Responding to the incredible growth of digital projection 3D theater system worldwide, and the exploding demand for polarized 3D feature films, Stereo Vision has for several years, been developing an exciting slate of commercial 3D feature films. Led by a management team that includes Chairman and Chief Production Officer Douglas Schwartz, creator and executive producer of "Baywatch," the world's most watched television series in history, and Chief Financial Officer, Goldman Sachs veteran Theodore Botts, Stereo Vision intends to produce and release at least fifteen 3D feature films over the next 5 years. Capitalizing on its long-standing studio relationships, Stereo Vision is uniquely positioned to be a significant player in future of the 3D motion picture industry.
This press release may contain forward looking statements that involve risks and uncertainties, including statements regarding our business strategy and development plans, plans for entering into new businesses, anticipated sources and uses of funds and other statements regarding our plans, objectives, expectations and intentions that are not historical facts. Because these forward-looking statements involve risks and uncertainties, actual results could differ materially from those discussed in this press release. These risks and uncertainties are described in greater detail in the reports that we file with the Securities and Exchange Commission. While we may elect to update these forward-looking statements publicly at some point in the future, we specifically disclaim any obligation to do so, whether as a result of new information, future events or otherwise.
Stereo Vision Entertainment, Inc., Los Angeles
Jack Honour,
818-909-7911
info@stereovision.com