Recent Library Acquisition, New Titles Ignite Growth
Universal City, CA – (August 31, 2010) Camelot Entertainment Group, Inc. (OTCBB: CMGR) (“Camelot”) announced today that gross sales from its distribution activities have continued to climb, due to its recent acquisition of the Liberation film library and sales of new titles recently acquired by Camelot.
Year to date, Camelot has generated approximately $1,247,500 in total gross sales, including approximately $570,000 in third quarter gross sales. August 2010 has been the best sales month for Camelot since inception with approximately $410,000 in gross sales contracts expected to be closed. In addition, the Camelot sales team has strengthened its outreach, adding additional members while signing worldwide deals for many of its banner features. Camelot expects to record its net revenue numbers as titles are physically delivered to Camelot’s customers once all the specific film elements are completed, Camelot has received the applicable payments and all expenses and third party participant payments have been made in accordance with the terms and conditions of the various sales contracts.
“Our sales are growing steadily,” stated Jamie Thompson, President of Camelot Distribution Group. “As we continue to add new titles and generate sales from our library, we expect our sales to continue to increase as we get closer to MIPCOM in October and the American Film Market in November. This has been our best year to date.”
More detailed information on Camelot’s film library and its new titles can be found on the Company’s website at www.camelotent.com.