Archive for November, 2010

CAMELOT REVENUES INCREASE 130% DURING THIRD QUARTER

Tuesday, November 23rd, 2010

Camelot Distribution Group Sales Continue to Grow

Los Angeles – (November 23, 2010) Camelot Entertainment Group, Inc. (OTCBB: CMGR) (”Camelot” or the “Company””) announced today that its quarterly revenue increased 130% from the last quarter, totaling $53,712 as compared to $23,338 during the second quarter of 2010, with an additional $266,975 in collected revenue booked as deferred revenue under motion picture accounting rules.  During the first nine months of 2010, the Company has already exceeded its revenue from prior years and has seen its total assets increase 2,120% from $147,015 at December 31, 2009 to $3,264,196 at September 30, 2010.  The Company also began collecting accounts receivable from its first content library acquisition, collecting approximately $85,000 during the second quarter and $34,000 during the third quarter of 2010, respectively.

Camelot sales and revenues from distribution activities within its Camelot Distribution Group subsidiary continue to grow, with total gross sales for the nine month period ended September 30, 2010 approximately $1,300,000 (“Gross Sales” represent signed sales contracts), of which Camelot was able to recognize $111,130 during this period under accounting rules for motion picture revenue recognition, with the balance of approximately $1,188,870 to be recognized during future quarters.

During the three month period ending September 30, 2010, Camelot had Gross Sales of approximately $471,000, of which it recognized $53,712 during this period under accounting rules for motion picture revenue recognition, with the balance of approximately $417,288 to be recognized during future quarters.  Camelot’s recorded quarterly revenue represents monies collected from Gross Sales once complete delivery of film elements have been made and film license term has begun.

A complete breakdown of Camelot’s third quarter results is available on the Company’s web site at www.camelotent.com or through the Company’s quarterly report filing with the Securities and Exchange Commission at www.sec.gov.

CAMELOT ANNUAL STOCKHOLDER MEETING DETAILS ANNOUNCED

Friday, November 19th, 2010

2010 Meeting to be Held December 12-14 at Mandalay Bay in Las Vegas

Universal City, CA – (November 19, 2010) Camelot Entertainment Group, Inc. (OTCBB: CMGR) (“Camelot”) announced today the details of its 2010 Annual Stockholder Meeting December 12-14, 2010, at the Mandalay Bay Resort and Casino in Las Vegas, Nevada. The official stockholder meeting, which will take place at 2 p.m. on Monday, December 13th, will be just one of several activities planned, featuring panel discussions on film production, distribution and marketing, stockholder relations, and a question and answer forum with Camelot management.

The event will kick-off Sunday, December 12th with a welcome reception at 6 p.m. followed by a special stockholder screening of an upcoming Camelot feature film at 8 p.m. On Monday, December 13th, the day starts off with an opening session at 10 a.m., followed by the panel discussions and the official stockholder meeting. Monday evening, Camelot will be hosting its annual stockholder dinner with live entertainment. The three-day event will wrap up Tuesday morning with Camelot’s annual employee retreat. To reserve hotel rooms and receive Camelot’s special discount at the Mandalay Bay, either log onto http://bit.ly/c4d3yf or call the reservation line at (877) 632-9001 using reservation code XCAMEL. For more information email info@camelotfilms.com, and RSVP to meeting@camelotfilms.com.

CAMELOT CAPTURES ‘A WARRIOR’S HEART’

Thursday, November 18th, 2010

Camelot Distribution Group Acquires Worldwide Rights; Teen Love Story Stars Kellan Lutz and Ashley Greene

Universal City, CA – (November 18, 2010) Camelot Entertainment Group, Inc. (OTCBB: CMGR) (”Camelot”) announced today that Camelot Distribution Group has acquired worldwide distribution rights for the teen love story A WARRIOR’S HEART starring Twilight’s Kellan Lutz and Ashley Greene. The film follows the story of high school lacrosse star Conor Sullivan, who through his passion for the sport and a new love interest finds the strength to overcome his father’s death. A WARRIOR’S HEART is currently in post-production and will premiere in 2011.

“As evidenced by the strength of films like Dear John, The Last Song, and Twilight, tween and teen females are driving the box office,” explained Jamie Thompson, Camelot President of Distribution. “A WARRIOR’S HEART is a family friendly teen love story with a cast of rapidly rising stars; thus, we expect strong results among this demographic.”

A WARRIOR’S HEART also includes Golden Globe Nominee Adam Beach (Windtalkers, Flags of our Fathers), Gabrielle Anwar (“Burn Notice”), and Chord Overstreet (“Glee”).

The film is produced by Marc Spizzirri and Steven Istock of Camelot and executive produced by Camelot’s Robert P. Atwell and Jamie R. Thompson.

CAMELOT CLOSES DEAL WITH GRINDSTONE FOR ACTION FLICK ‘FINK!’

Wednesday, November 17th, 2010

Universal City, CA – (November 17, 2010) Camelot Entertainment Group, Inc. (OTCBB: CMGR) (“Camelot”) announced today that Camelot Distribution Group has signed a domestic deal for all-media rights with Grindstone Entertainment Group (“Grindstone”) for its action movie “Fink!”, to be released through Lionsgate Home Entertainment in 2011.

“Releasing ‘Fink’ through Grindstone makes perfect sense, ”stated Jeffrey Giles, Camelot VP of Sales and Distribution. “Look at our respective libraries, and you will see that we are like-minded. In addition, they have a rock-solid track record of acquiring product the retailers love and the public responds to.”

Following the adventures of four fiercely outlandish hit men, three seasoned slackers, two idealist computer hackers and an undercover cop whose paths all ironically cross when one of them double-crosses crime lord Terence Fink, the action/comedy stars Sam Worthington (“Avatar”, “Clash of the Titans”) and Steve Bastoni (“The Matrix Reloaded”).