NEWS RELEASE
(PR NEWSWIRE) DJ: New Visual Entertainment, Inc. Announces Acquisition Of
DJ: New Visual Entertainment, Inc. Announces Acquisition Of Chris Condon's
Stereovision
LOS ANGELES, June 10 /PRNewswire/ -- New Visual Entertainment, Inc. (OTC
Bulletin Board: NVXE) is pleased to announce as part of the company's merger
and acquisition strategy, that it has completed an agreement with Chris
Condon's Stereovision, founded in 1967, to merge the two companies.
Chris Condon is considered the world's most experienced 3D expert. He has
been involved in more than 50 3D motion picture projects for clients such as
Warner Bros., Universal Studios, Columbia Pictures (now Sony), and Disney,
as well as many international productions.
The Company reports that other film projects that the Company is working on,
such as Rick Ducommun's new 3D feature film aimed at the youth audience,
will require the use of Condon's patented projection lenses. The
acquisition will enable NVE to simultaneously open with as many as 1000
theaters at a time, resulting in additional revenues for the Company. The
merge will bring to the surviving New Visual Entertainment, Inc. Condon's
seven existing, applied for, and pending patents, the Stereovision 3D
optical technology inventory, which includes hundreds of camera and
projection lenses, and limited rights to perhaps the world's largest 3D film
library. Additionally, Condon will bring personal relationships with many
studio executives developed over the years in the industry. Chris Condon
was also the founder of Precision Optics, America's only manufacturer of
motion picture and television optics.
New Visual Entertainment, Inc. is a true stereo 3D production company that
utilizes the latest, cutting-edge single camera technology for standard
production equipment, such as Panavision, Arriflex, and MovieCam. The
Company specializes in 3D product development and distribution for special
venue theaters, home video, broadcast, and theatrical markets by utilizing
patented technology for the creation and exhibition of 3-dimensional media.
Safe Harbor Statement under the Private Securities Litigation Reform Act of
1995: Statements in this news release looking forward in time involve risks
and uncertainties, including the risks associated with the effect of
changing economic conditions, trends in the products markets, variations in
the Company's cash flow, market acceptance risks, technical development
risks, seasonality, and other risk factors detailed in the Company's
Securities and Exchange Commission filings.
/CONTACT: New Visual Entertainment, 888-639-8478, nvxe@newvisual.com/
07:30 EDT
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