Page one from the Rec. on MVEE
ALEXANDER, WESCOTT & CO.,INC.
MEMBER NASD * SIPC * MSRB
63 WALL STREET 21 ST FLOOR
New York, NEWYORK 10005
(800)713-3 768
(212) 742-9870
(212) 742-9074 fax
First Miracle Group (OTC BIB: MVEE)
Initiation of Coverage: Speculative Buy
June 10,1908
Christopher B. Lippincott
We Initiate Coverage Of First Miracle Group With Speculative Buy;
Golan-Globus Reteam To Repeat 1980-'s Success
Stock Data:
Recent Price: $0.300 Market Cap: $27.00 million
.52 Week Range: $061-0-10 Shares Outstanding: 90 million
Current PIE, n/a Float 50 million
Current Div.- n/a Avg- Daily Volume: 445,841
Current Yield: n/a Institutional Holdings: 0%
Book Value/Share: $0.10 Insider Holdings: 30%
0 Menahein Golan and Yoram Globus have teamed up again to replicate the 1980's success of their Cannon Group, Inc- with First. Miracle Group, Inc- and its subsidiary, Magic Entertainment
a Magic has 4 new fiims shited for production in 1999 with a number of known actors and actresses which will be financed in an off balance sheet "revenue-sharing" format
* The Company has several venues for its films including presale licensing of theatrical, video and television rights in the international and domestic marketplace
* MVEE, through Magic Entertainment, has additional revenue sources including its film library, its athletic clubs and also has a music division which is under development
* We project that the Company may receive in excess of $15 million in minimum guarantees from the presale licensing of theatrical, TV and video rights as well as other ancillary rights
Overview:
First Miracle Group (MVEE or "the Company-) is the parent company of Magic Entertainment Inc. -and California Athletic Clubs, Inc. The entertainment subsidiary produces and sells feature length films.
MagicEntertainment is led by the team of Menahem Golan and Yoram Globus who ran the successful and award winning Cannon Group in the 1980's. Their business model incorporates rnodest, tightly-controlled budget productions with presales and licensing rights in the international arena to theatrical, TV and video for steady revenues with reduced risk- After being apart for nine years, the two cousins look to reunite and replicate their previous successes with first Miracles Magic Entertainment Inc.
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