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 in meetings held last week in Los Angeles between Stereo Vision's Chairman, "Baywatch" creator Doug Schwartz and CEO Jack Honour with Fiji Audio Visual Commission CEO, Taniela Bolea, it was agreed that Stereo Vision will accept Fiji's invitation to bring the production of Stereo Vision's family fun feature film "Booty 3D" to the island nation of Fiji.
Stereo Vision's Chief Executive Officer, Jack Honour, stated, "Our first reason for selecting the tropical island paradise nation of Fiji, is that it offers the perfect location for our production of Booty 3D. With its spectacular scenery, ideal climate, and the unlimited use of their old capitol city, which Fiji has preserved in its original 19th century condition, we're provided with the perfect setting for the production of our pirate period piece. Our second reason is the enthusiastic welcome we have received from the people we have met and the excitement they have expressed to host our production in their home country. In all of our meetings with Fiji's Audio Visual Commission's CEO Taniela (Dan) Bolea, and Marketing & Public Relations Manager Florence Swamy, we've found them to be highly competent and very motivated. And finally, of extraordinary value to the Stereo Vision shareholders is the 46.5% up front cash subsidy. With a production budget of eighteen million dollars, the approximately eight million dollars up front cash subsidy from Fiji, which does not get paid back, allows us the possibility through foreign sales and bank gap financing, of producing Booty 3D deficit free. Stereo Vision's Chairman, Baywatch creator Doug Schwartz, produced 324 episodes of Baywatch deficit free. We plan to start getting set up in Fiji by June, and going into Principal Photography there by August."
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. 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, Los Angeles
Jack Honour, 818-909-7911
info@stereovision.com