Boycott Chapter 27 welcomes our ebay visitors......sorry for using "Nappy Headed Ho" to get your attention...but...F...IMUS!!!
Below is the press release regarding Peace Arch Entertainments quarterly earnings.
I post this article to make everyone aware that you will find NO MENTION of CHAPTER 27.
For all the negative comments sent to us at boycottchapter27.org, we are happy to declare victory, Chapter 27 will clearly not be released in the United States...soooo BABA F'n BOOEY to ya.
TORONTO--BoycottChapter27.org -- Peace Arch® Entertainment Group Inc. (AMEX:
PAE -
News) (Toronto:
PAE.TO -
News) today announced outstanding operating results for its second quarter of fiscal 2007, ending February 28, 2007, highlighted by the Company's unprecedented growth in revenues to $20.3 million from $3.7 million in the same period last year. The Company's revenues for the six months ended February 28, 2007 were a record $31.6 million, up 600% from $4.6 million during the same period in fiscal 2006, with all business segments reporting continued strong revenue growth
Peace Arch reported net earnings of $2.2 million, or $0.06 per diluted share in the second quarter, compared to a net loss of $(0.7) million, or $(0.04) per diluted share for the same period last year. For the six months ended February 28, 2007, net earnings were $2.3 million, or $0.06 per diluted share, as compared to a net loss of $(1.4) million or $(0.07) per diluted share last year.
"Peace Arch's senior management team has been energized by delivering results," said Gary Howsam, Chief Executive Officer of Peace Arch Entertainment. "We executed on our strategic plan: to continually expand the quality and volume of our product supply and improve our worldwide distribution and sales capabilities. This quarter reflects the success of this business model and we plan to stay focused on this strategy."
The Company delivered 16 episodes of television programming during the quarter, including five episodes of the dramatic new series "The Tudors," which premiered to record audiences in the U.S. on Showtime Networks, 11 episodes of three lifestyle series and five movies. This is compared to the delivery of 13 episodes of a television series and no movies in the second quarter of last year. Peace Arch's Home Entertainment segment had the strongest quarter in its history including solid results from the holiday period. Included in Peace Arch's earnings for the quarter was an amount of $1.0 million representing a favorable settlement of an outstanding legal dispute.
During the second quarter the Company:
* Completed its acquisition of independent film companies Castle Hill Productions Inc. and Dream LLC., whose library of approximately 500 classic and contemporary motion pictures represents one of the largest independent film libraries in the world. This strategic transaction provides Peace Arch with a new inventory of available entertainment content for U.S. and worldwide distribution, and brings to the Company a proven U.S. distribution and licensing operation with an experienced executive team. The results of operations of Castle Hill Productions Inc. and Dream LLC have been included in the Company's results since December 21, 2006.
* Added industry veteran Mark Balsam as President of U.S. Distribution as part of the Castle Hill Productions Inc. and Dream LLC acquisition.
* Received a one-time payment of $1.0 million as settlement of an outstanding legal dispute concerning the co-financing of a television series.
* Produced or acquired several feature films for DVD and television exploitation, including the thrillers "Final Draft" starring James Van Der Beek, "The Cradle" starring Lukas Haas, "Harm's Way" starring Academy Award-winner Kathleen Quinlan, and the family film "Luna: Spirit of The Whale" starring Adam Beach and Jason Priestley.
* Licensed all distribution rights to the Company's feature film "Animal 2," starring Ving Rhames, to Genius Entertainment, one of the leading home entertainment distributors in the United States. "Animal 2" is a sequel to the sleeper hit "Animal," which grossed more than US$8 million in DVD revenues in 2005.
NOTHING ABOUT ANY DEALS OR PROSPECT FOR Jared Leto or Lindsey Lohan, or Chapter 27!!!!!!Subsequent to the second quarter ended February 28, 2007, the following significant transactions occurred:
* Peace Arch signed a licensing agreement for U.S. distribution rights for two of the Company's feature films, "Final Draft" and "The Cradle," to Genius Entertainment, one of the leading home entertainment distributors in the United States.
* The Company acquired worldwide rights to the feature films "Shred" and "Shred 2," snowboarding action comedies to be released during the next two ski and snowboarding seasons, starring popular comic actor Tom Green.
* The Company acquired worldwide rights to the feature film "The Deal," adapted from a best-selling book and starring Meg Ryan, William H. Macy, LL Cool J and Elliott Gould, currently in production in South Africa.
As at February 28, 2007, Peace Arch's total shares outstanding was 32,899,309 Common Shares (including 222,689 shares in escrow) and 4,347,827 Series I Preference Shares and 3,161,929 Series II Preference Shares. The Company also has outstanding 1,185,896 Series II Preference Share purchase warrants and 1,324,000 Common Share purchase warrants.
For full Financial Statements, Note Disclosure and MD&A, please refer to the Company's filings, which are available at: www.sedar.com and www.sec.gov/edgar.
About Peace Arch® Entertainment Group Inc.
Peace Arch Entertainment produces and acquires feature films, television and home entertainment content for distribution to worldwide markets. Peace Arch owns one of the largest libraries of top quality independent feature films in the world, featuring more than 500 classic and contemporary titles. Through its subsidiary, Peace Arch Home Entertainment, Peace Arch is also one of the leading distributors of DVDs and related products in Canada. For additional information, please visit www.peacearch.com.
For more investor-oriented information about Peace Arch Entertainment, visit http://www.trilogy-capital.com/tcp/peace-arch/. For current stock price quotes and news, visit http://www.trilogy-capital.com/tcp/peace-arch/quote.html. To view an Investor Fact Sheet, visit http://www.trilogy-capital.com/tcp/peace-arch/factsheet.html. To read a transcript of a recent Peace Arch investor conference call or listen to an archived recording, please visit http://www.trilogy-capital.com/tcp/peace-arch/conference.html.
Forward-Looking Statements
This press release includes statements that may constitute forward-looking statements, usually containing the words "believe," "estimate," "project," "expect," or similar expressions. These statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements inherently involve risks and uncertainties that could cause actual results to differ materially from the forward-looking statements. Factors that would cause or contribute to such differences include, but are not limited to, continued acceptance of the Company's products and services in the marketplace, competitive factors, dependence upon third-party vendors, availability of capital and other risks detailed in the Company's periodic report filings with the Securities and Exchange Commission. By making these forward-looking statements, the Company undertakes no obligation to update these statements for revisions or changes after the date of this release.
Peace Arch Entertainment Group Inc.
Consolidated Balance Sheets
(expressed in thousands of Canadian dollars)
February 28 August 31
2007 2006
$ $
(unaudited) (audited)
Assets
Cash and cash equivalents 5,542 1,216
Accounts and other receivables 37,581 21,471
Inventory 2,249 1,830
Investment in film and television programming 47,713 29,174
Prepaid expenses and deposits 434 370
Property and equipment 944 571
Intangible assets 3,479 1,875
Deferred costs 355 511
Goodwill 7,468 5,252
Restricted term deposits 23,805 21,272
---------------------
129,570 83,542
=====================
Liabilities
Bank credit facility 2,050 1,811
Term loan 3,212 -
Production loans 45,387 29,762
Accounts payable and accrued liabilities 27,043 11,384
Deferred revenue 5,388 799
Future income tax liability 764 883
Revenue guarantee obligation 23,805 21,272
---------------------
107,649 65,911
---------------------
Shareholders' Equity
Capital stock 23,914 21,760
Contributed surplus 3,081 2,864
Warrants 808 1,010
Other paid-in capital 680 680
Deficit (6,562) (8,683)
---------------------
21,921 17,631
---------------------
129,570 83,542
=====================
Peace Arch Entertainment Group Inc.
Consolidated Statements of Earnings (Loss)
(expressed in thousands of Canadian dollars, except per share amounts)
Three Months Ended Six Months Ended
February 28 February 28
2007 2006 2007 2006
$ $ $ $
(unaudited) (unaudited)(unaudited) (unaudited)
Revenue 20,276 3,661 31,606 4,570
-----------------------------------------------
Expenses
Amortization of investment
in film and television
programming, and other
production costs 11,073 934 15,471 1,766
Home entertainment
direct costs 4,247 1,420 8,496 1,420
Selling, general
and administrative 2,630 1,559 4,520 2,579
Other amortization 199 182 323 202
-----------------------------------------------
18,149 4,095 28,810 5,967
-----------------------------------------------
Earnings (loss) from
operations before the
undernoted 2,127 (434) 2,796 (1,397)
Interest income 407 244 667 496
Interest expense (959) (658) (1,536) (1,088)
Gain on sale of asset - 10 - 43
Foreign exchange
gain (loss) (348) 97 (665) 506
Legal settlement 957 - 957 -
Loss on settlement
of obligations - - (13) -
-----------------------------------------------
Earnings (loss) before
income taxes 2,184 (741) 2,206 (1,440)
Income tax recovery 55 - 119 -
-----------------------------------------------
Net earnings (loss)
for the period 2,239 (741) 2,325 (1,440)
===============================================
Net earnings (loss) per common share
Basic 0.07 (0.04) 0.07 (0.07)
===============================================
Diluted 0.06 (0.04) 0.06 (0.07)
===============================================
Peace Arch Entertainment Group Inc.
Consolidated Statements of Deficit
(expressed in thousands of Canadian dollars)
Three Months Ended Six Months Ended
February 28 February 28
2007 2006 2007 2006
$ $ $ $
(unaudited) (unaudited)(unaudited) (unaudited)
Deficit -
Beginning of period (8,697) (5,013) (8,683) (4,255)
Preference share
Dividends (104) (76) (204) (135)
Net earnings (loss)
for the period 2,239 (741) 2,325 (1,440)
-----------------------------------------------
Deficit -
End of period (6,562) (5,830) (6,562) (5,830)
===============================================
Peace Arch Entertainment Group Inc.
Consolidated Statements of Cash Flows
(expressed in thousands of Canadian dollars)
Three Months Ended Six Months Ended
February 28 February 28
2007 2006 2007 2006
$ $ $ $
(unaudited) (unaudited)(unaudited) (unaudited)
Cash flows from operating activities
Net earnings (loss)
for the period 2,239 (741) 2,325 (1,440)
Items not affecting cash
Amortization of
film and television
programming 8,992 637 11,366 1,176
Income tax recovery (55) - (119) -
Other amortization 199 182 323 202
Stock-based compensation
and warrant costs 187 187 306 243
Loss on settlement
of obligations - - 13 -
Gain on sale of asset - (10) - (43)
Investment in film and
television
programming (11,209) (5,952) (21,304) (10,455)
Changes in non-cash
operating working
capital (2,195) 829 2,184 2,706
-----------------------------------------------
(1,842) (4,868) (4,906) (7,611)
-----------------------------------------------
Cash flows from investing activities
Acquisition of kaBOOM! Entertainment Inc.,
net of cash acquired - (3,176) - (3,176)
Acquisition of
Castle Hill Productions Inc.
and Dream LLC, net of bank
indebtedness acquired (9,150) - (9,652) -
Property and equipment
purchases (367) (95) (415) (127)
-----------------------------------------------
(9,517) (3,271) (10,067) (3,303)
-----------------------------------------------
Cash flows from financing activities
Bank credit facility 517 - 239 -
Issuance of term loan 3,212 3,500 3,212 3,500
Issuance of preference shares
on exercise of warrants - 827 277 827
Payment of preference share
dividends - (76) - (135)
Issuance of common shares
upon exercise of
stock options 22 - 22 -
Issuance of common shares
on exercise of warrants 156 - 279 -
Deferred financing costs (355) (416) (355) (416)
Production loans 23,884 6,638 38,999 13,076
Repayment of
production loans (14,185) (2,154) (23,374) (6,667)
-----------------------------------------------
13,251 8,319 19,299 10,185
-----------------------------------------------
Increase (decrease)in cash
and cash equivalents 1,892 180 4,326 (729)
Cash and cash equivalents -
Beginning of period 3,650 519 1,216 1,428
-----------------------------------------------
Cash and cash equivalents -
End of period 5,542 699 5,542 699
===============================================
Supplemental cash flow information
Interest paid 866 261 1,496 838
Distributed by Filing Services Canada and retransmitted by Market Wire
.png){kind=small}
Murder for Fame is a problem that will continue for as long as publishers of Movies, Books, and Magazines continue to offer the very Fame that killers of this type desire.
Please Join us in Boycotting All those involved in Chapter 27.
Including Peace Arch Entertainment, Lindsay Lohan, and Jared Leto!!
You Tube user comments
------------------------------
This sick bastard started mentally collapsing from the day her was born. This guy was born crazy and his mom, who was just as crazy, mentally abused him for years. The movie looks interesting (I might go see it despite not being a big Lindsay Lohan fan) but I hope it doesn't glorify or excuse Chapman for the senseless act he committed.