Sycamore Entertainment Group Inc (OTCMKTS:SEGI) shares were up 75% on Friday to $0.00070 and unchanged in after-hours trading. Share prices have been trading in a 52-week range of $0.00 to $0.00. The company has a market cap of $1.29 million at 1.39 billion shares outstanding.
Sycamore Entertainment Group Inc is an independent film marketing and distribution company. As such, it specializes in the acquisition, distribution and development of marketing campaigns. It focuses on participating in various other streams related to filmed entertainment content distribution, as well as various other activities related to funding the print and advertising of acquired feature films. Its film marketing and distribution operations include film acquisitions, publicity, print advertising, billboard advertising, film distribution and online marketing.
The company also offers services, including acquiring films; publicity and public relations, and online content writing and search engine optimization services. It provides distribution services for release commercial films and represents independent film companies that create domestic and foreign feature films. Its operations include Film Library Development, Distribution, Print and Advertising Fund, and Production.
In a press release last week, Sycamore Entertainment Group announced that it has executed a “film rights purchase agreement” with top Hollywood producers. The company was required to put $1.5 million in escrow to secure the deal while the production financing agreement is being negotiated with the studio. It can also invite third party investors to participate in the production financing.
We are excited to be working some of the best talents in Hollywood,” says Edward Sylvan, CEO of Sycamore Entertainment Group. He goes on to say, “Our arrangement with LDJ Capital called for us to bring ‘best in class’ projects to the table, I feel we are accomplishing these objectives. We are looking forward to the time when we are able discuss the project in more detail.”
As it is, the company is also managing it’s ongoing reporting requirements as it prepares to file for a Regulation A, which can supply the company with more working capital. According to the SEC website, Regulation A allows companies to offer and sell securities to the public, but with more limited disclosure requirements than what you would currently expect from publicly reporting companies. In comparison to registered offerings, smaller companies in earlier stages of development may be able to use this rule to more cost-effectively raise money.
With the working capital in hand we are in the best position to increase shareholder value by spending on corporate marketing and executing on our lineup of film and TV projects,” Sylvan added.
The company is also working towards uploading its financial statements within the month to obtain Pink Current Status. Volume has picked up considerably in February but the effect looks minimal on the stock price so far.
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