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 |
Al Pacino Joins
Family Room- Signs on For High Budget Movie |
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Every time I look at the price of
Family
Room shares, I have to scratch my head. Nearly every stock I have covered
this year has had a significant run at one time or another, with the exception
of Family Room. This is particularly frustrating, as the company
has delivered bigger and better projects this year than any time in it's
past history.
Clearly, last year's toxic financing
kept a lid on the stock, frustrating shareholders. One would think the
market has already dealt with the excess supply, but you never know.
Family Room is rapidly developing
a reputation as Hollywood's premier Independent Film Producer. As the scope
of projects becomes more high profile, so does the company's opportunity
to deliver a big win to shareholders.
Family Room just wrapped up
production of Edison, starring Justin Timberlake, Kevin
Spacey, Morgan Freeman, and LL Cool J. The film had a $25 million budget,
the highest in Family Room's history.
Family Room will be going
into production on at least 4 more films later this year, including two
with Steven Seagal.
Today's huge announcement serves
as confirmation that Family Room is getting much better and bigger
projects. Venerable Hollywood Veteran Al Pacino has signed on to
star in Family Room's next major production.
According to the press release, 88
Minutes will go into production in Vancouver during the month of
August. The budget will approach $30 million, which sets a new record for
Family
Room.
More importantly, for the first time
in the history of the company, Family Room will have a box office
bonuses. In the past, Family Room has only had a percentage of the
producer profits, which can be an elusive result. On this film, Family
Room will have bonus payments as the film hits certain box office performance
levels. No profit calculation is required. Therefore, the upside for shareholders
on this one is much enhanced.
Al Pacino is one of my favorite
actors. Who could forget his performances in Godfather I and II? (forget
III) Phrases like "I'll make him an offer he can't refuse, He sleeps
with the fishes, and We're going to the mattresses" have
been weaved into the fabric of our culture. Here are some interesting facts
on Pacino:
-
He has been nominated for nine academy
awards, and won once. Best Actor for Scent of a Woman.
-
His last 10 movies have grossed and
average of $37 million domestically.
-
He got paid $35,000 for Godfather I,
$500,000 and 5% of the gross for Godfather II, and $5 million of Godfather
III.
-
Here are his most recent domestic box
office performances: The Recruit: $52 million; Insomnia: $67 million;
Any Given Sunday: $75 million; The Godfather: $135 million; Scent of a
Woman: $64 million.
According to the press release, 88
minutes goes into production in August. It's the story about a
college professor who moonlights as a forensic psychiatrist for the FBI
and receives a death threat claiming that he has only has 88 minutes to
live. In order to save his own life, he must use all of his skills and
training to narrow down the possible suspects, who include a disgruntled
student, a jilted former lover, and a serial killer who is already on death
row.
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The
Technical Picture |
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As you can see from this longer term
chart, shares of Family Room have been a lackluster performer this
year. Early in 2004 the stock made one attempt to break to higher levels,
only to be repelled.
In light of the spectacular year
the company is having, this chart is a source of frustration for both myself
and other shareholders. However, long term subscribers know I don't throw
in the towel on companies who are delivering solid corporate progress.
Price is not the issue. If the company delivers, the price will eventually
take care of itself.
I still believe this stock is going
to $.25 eventually. Clearly, from the $.10 level there has been very little
downside risk. Keep accumulating this one. At the pace the company is going,
it will pay off sooner or later.
You would do well to remember the
greatest mutual fund manager of all time: Peter Lynch. Lynch spend his
career in search of the elusive "10 bagger". He had plenty of them. In
his book One Up On Wall Street, Lynch reveals that most of his 10 baggers
came after five years. I'm at 1 1/2 years with Family Room, and
this is the first breakthrough year. Hopefully, the stock will follow the
corporate performance.
Here is the complete text of the
press release for your review:
| Press Release Source:
Emmett/Furla Films
Family Room to Spend
``88 Minutes'' with Al Pacino
Thursday May 13, 6:30
am ET
LOS ANGELES--(BUSINESS
WIRE)--May 13, 2004--Emmett/Furla Films, a wholly owned subsidiary of Family
Room Entertainment Corporation (OTCBB:FMLY - News), in conjunction with
Avi Lerner's Millennium Films, announced today that they have teamed up
to produce and finance 88 MINUTES with AL PACINO set to star in the Picture.
James Foley (CONFIDENCE) will direct the picture from a screenplay by Gary
Scott Thompson (THE FAST AND THE FURIOUS and TV's LAS VEGAS). The producers
for 88 MINUTES are Avi Lerner, Randall Emmett, George Furla and Gary Scott
Thompson. Executive Producers on the Pic will be: Danny Dimbort, Boaz Davidson,
Trevor Short, Lawrence Bender and John Baldecchi.
88 MINUTES focuses on
a college professor who moonlights as a forensic psychiatrist for the FBI
and receives a death threat claiming that he has only has 88 minutes to
live. In order to save his own life, he must use all of his skills and
training to narrow down the possible suspects, who include a disgruntled
student, a jilted former lover, and a serial killer who is already on death
row.
Production is scheduled
to commence in August in Vancouver with a budget of under $30 million.
This marks the second picture announced under production, finance and distribution
arrangement recently announced by Millennium and Emmett/Furla Films.
Emmett/Furla Films and
Millennium Films recently wrapped production on EDISON in Vancouver. The
Pic marked writer/director David Burke's feature film debut. EDISON stars
Morgan Freeman, LL Cool J, Justin Timberlake and Kevin Spacey. Al Pacino
most recently starred in THE RECRUIT with Colin Farrell. Jamie Foley most
recently directed CONFIDENCE for Lions Gate. The picture stared: Edward
Burns, Rachel Weisz, Andy Garcia and Dustin Hoffman.
Family Room Entertainment
Corporation, with its subsidiaries, Emmett Furla Films Productions, Emmett
Furla Films Distribution and EFF Independent, is a publicly held company
trading on the NASDAQ Bulletin Board under the symbol "FMLY." Family Room
Entertainment develops, produces and performs production related services
for the entertainment industry. Family Room Entertainment's aim is to create
and produce high quality motion pictures with high profile talent that
can be distributed to a worldwide audience. FMLY derives its income from
producer fees, consulting and service fees as well as its participation
in the profits of the various pictures it produces.
The FMLY co-founders,
Randall Emmett and George Furla, believe that they have the expertise and
contacts within the entertainment industry, specifically in the competitive
production and distribution arenas, to profitably acquire content, package
product by adding value to the content with top quality talent and produce
motion pictures which are in the moderate to higher level budgets, which
can be distributed to a mass worldwide audience. However, there is no assurance
that any motion picture, which has not yet been released, will be released,
that a change in the scheduled release dates of any such films will not
occur or, if such motion picture is released, it will be successful.
Forward Looking Statement:
Safe Harbor: Statements
contained in this news release, which are not historical facts, are forward-looking
statements as that are defined in the Private Securities Litigation Reform
Act of 1995. Such forward-looking statements are subject to risks and uncertainties,
which could cause results to differ materially from those, projected
This news release contains
forward-looking statements within the meaning of the Private Securities
Litigation Reform Act of 1995 (the "ACT"). In particular, when used in
the preceding discussion, the words "plan," "confident that," "believe,"
"expect," "intend to" and similar conditional expressions are intended
to identify forward- looking statements within the meaning of the ACT and
are subject to risks and uncertainties, and actual results could differ
materially from those expressed in any forward-looking statements. Such
risks and uncertainties include, but are not limited to, market conditions,
competitive factors, the ability to successfully complete additional financings
and other risks.
--------------------------------------------------------------------------------
Contact:
Family Room Entertainment Investor Relations
Dal Walton, 310-659-9411, ext. 127
--------------------------------------------------------------------------------
Source: Emmett/Furla
Films |
Charts Provided Courtesy
Of TradePortal.com |
