Leonidas Films, Inc. (OTC: LFMI)
WOODLAND HILLS, Calif.–(BUSINESS WIRE)–June 20, 2006–Leonidas Films, Inc. (”the Company”) (Pink Sheets:LFMI – News) announced today that it has undergone a valuation of future film rights by EDR Valuations, Inc., a premier Southern California valuation firm, regarding the projection of future cash flows resulting from the release of the motion picture “Pleasure Drivers” and other projects the Company has in progress. The EDR analysis has valued the Company at approximately $3.4 million to $8.9 million based on various future cash flow projections and risk factors.
Timothy Cavanaugh, President and one of the founders of Leonidas Films, Inc., stated: “This is the first step in the building and branding of the Company into an entertainment powerhouse. Over the next year, the Company will aggressively ramp up its mandate to develop and deliver star-driven entertainment films and movies to audiences worldwide.”
Cavanaugh and Andrzej Sekula, who will manage Leonidas Films, Inc., bring over 30 years’ experience in producing films, commercials and television, as well as cinematography. Leonidas Films’ mission is to create and distribute commercially compelling, quality movies and entertainment for audiences throughout the world with “A” list industry standards.
The Private Securities Litigation Reform Act of 1995 provides a “safe harbor” for forward-looking statements. Certain information included in this news release (as well as information included in oral statements or other written statements made or to be made by the Company) contains statements that are forward looking, such as statements relating to plans for future expansion and other business development activities, as well as other capital spending, financing sources and the effects of regulation (including gaming and tax regulation) and competition. Such forward-looking information involves important risks and uncertainties that could significantly affect anticipated results in the future and, accordingly, such results may differ from those expressed in any forward-looking statements made by or on behalf of the Company. These risks and uncertainties include, but are not limited to, those relating to development and construction activities, dependence on existing management, leverage and debt service (including sensitivity to fluctuations in the interest rates), and domestic or global economic conditions.
Contact:
Leonidas Films, Inc.
Timothy Cavanaugh, 310-871-6935
Source: Leonidas Films, Inc.
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