Posts Tagged ‘camelot entertainment’

CAMELOT ENTERTAINMENT AND ABC FAMILY SIGN DOMESTIC DISTRIBUTION DEAL ON “PUFF THE MAGIC DRAGON”

Thursday, September 2nd, 2010

Animated Classic to Air as Part of Network’s Popular “25 Days of Christmas” Programming Event in December 2010

Universal City, CA – (September 2, 2010) Camelot Entertainment Group, Inc. (OTCBB: CMGR) (“Camelot”) announced today that it has signed a deal with ABC Family for its animated classic PUFF THE MAGIC DRAGON.  ABC Family picked up domestic rights and has scheduled the program to air as part of the network’s annual 25 Days of Christmas event, the biggest programming event on cable.

“PUFF THE MAGIC DRAGON is a classic fable that will never grow old,” commented Jeffrey Giles, Camelot VP, Sales and Distribution. “We are enthusiastic that ABC Family will continue to tell the story during one of its biggest programming events of the year.”

Based on the hit song by Peter, Paul and Mary, Jackie Draper, a shy boy, learns the value of courage from his friend, Puff.

ABOUT ABC FAMILY

Part of the Disney-ABC Television Group, ABC Family is distributed in over 98 million homes. ABC Family features programming reflecting today’s families, entertaining and connecting with adults through relevant stories about today’s relationships, all told with diversity, dysfunction, passion, humor and heart. ABC Family’s programming is a mix of network defining original series and original movies, quality acquired series and blockbuster theatricals. ABC Family is also the destination for annual Holiday events with “13 Nights of Halloween” and “25 Days of Christmas” ABC Family. A New Kind of Family.

ABOUT CAMELOT ENTERTAINMENT

Camelot Entertainment Group, Inc. (www.camelotent.com) is a US publicly traded company (OTCBB: CMGR) with four divisions: Camelot Film Group, Camelot Distribution and DarKnight Pictures, Camelot Studio Group and Camelot Production Services Group. Camelot is building a different kind of motion picture studio infrastructure by redefining the development, financing, production, and distribution process. Camelot is a member of the Independent Film & Television Alliance (IFTA).

NOTES ABOUT FORWARD-LOOKING STATEMENTS

Except for any historical information contained herein, the matters discussed in this press release contain forward-looking statements that involve risks and uncertainties, including those described in the Company’s Securities and Exchange Commission reports and filings.

Certain statements contained in this release that are not historical facts constitute forward-looking statements, within the meaning of the Private Securities Litigation Reform Act of 1995, and are intended to be covered by the safe harbors created by that Act. Reliance should not be placed on forward looking statements because they involve unknown risks, uncertainties and other factors which may cause actual results, performance or achievements to differ materially from those expressed or implied. Forward looking statements may be identified by words such as estimates, anticipates, projects, plans, expects, intends, believes, should and similar expressions and by the context in which they are used. Such statements are based upon current expectations of the Company and speak only as of the date made.

CAMELOT SALES CONTINUE TO CLIMB

Tuesday, August 31st, 2010

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.

ON THE SET OF NUDE NUNS WITH BIG GUNS WITH DIRECTOR JOSEPH GUZMAN: AN INTERVIEW

Monday, August 30th, 2010

An Interview with Writer and Director Joseph Guzman from 28DaysLaterAnalysis.com by Michael Ross Allen

Joseph Guzman on set of NNWBG

Joseph Guzman has been behind the camera in several roles, while always working his way to the director’s chair. During his time as a filmmaker Guzman has worked as producer on the short film Spyware, the supernatural thriller Chingaso the Clown, and the feature Driving Bill Crazy in 2008. His first feature as a director was the ultra-violent Run! Bitch Run!, which starred Christina DeRosa and Cheryl Lyone. This film involved two Catholic schoolgirls on the run from crazed drug dealers. Guzman has also worked as an art director on several films and his latest film is called Nude Nuns with Big Guns. This film is slated for a 2010 release and Nude Nuns takes off the habits of many of the female characters in exchange for long barrelled weaponry. Read more>

CAMELOT ADDS FILM ASSETS IN SECOND QUARTER

Tuesday, August 24th, 2010

Non-Recurring, One-Time Charges Contribute to Substantial Loss for Quarter

Irvine, CA – (August 24, 2010) Camelot Entertainment Group, Inc. (OTCBB: CMGR) (“Camelot”) announced today that it added significant film assets during the second quarter as detailed in its Form 10-Q for the second quarter filed yesterday.  At the same time, Camelot posted a substantial loss for the quarter, due mostly to non-recurring, one-time charges the Company took during the second quarter.

“The material increase in our total assets represents a positive step forward for us as we continue to implement our business model,” Camelot Chairman Robert Atwell stated.  “We are building a company that we believe will have a major impact in the independent film, television and digital media industry.  It is a long process, and we must remain focused on our main objectives.     Building our asset base and growing our internally generated cash flow is critical to our development.”

As of June 30, 2010, Camelot had $3,255,030 in total assets as compared to $147,015 in total assets as of December 31, 2009.  With Camelot continuing to implement its long-range business model, total liabilities also increased from $2,487,150 at December 31, 2009 to $10,331,739 at June 30, 2010.  The majority of the liabilities are related to non-recurring, one-time accrued expenses to related parties, the recent film and television library acquisition and notes payable.

“We are building a foundation for the future,” Atwell added.  “Our management team has gotten stronger.  We now have more than twenty full- and part-time employees and consultants.  We have three additional acquisitions targeted.  We are ramping up our content creation, distribution and production activity.”

Operating losses increased from $266,710 for the quarter ended June 30, 2009 to $4,510,861 for the quarter ended June 30, 2010, with the majority of the loss stemming from non-recurring, one-time charges the Company took during the second quarter.

“We don’t like losses anymore than any of our 4,600 plus stockholders,” Atwell continued.  “Suffering through these necessary growing pains is not easy.  We are laying the groundwork for exciting progress in the months and years ahead as we build our diversified revenue streams.  It’s a marathon, not a hundred yard dash.”