NSKY ,,,,GOT THIS OFF OF IT'S THREAD
To: Donster (347 )
From: Donster
Tuesday, Jul 28 1998 6:08PM ET
Reply # of 349
To all: NSKY president Carl Reynolds returned my call between meetings and we didn't have much time to talk, but I'm passing along some information:
No word yet on the invitation to September's Toronto Film Festival for the comedy "Freak Talks About Sex". He said that, as far as he knew, nobody has heard yet and hey were told invitations would be issued at the end of July, which is three days away.
He said since July 31 is a Friday, the invites may not be delivered until Monday. At any rate, a PR will be issued when and if an invitation is extended.
As to the status of the next major project, "Face Facts", the Lynne Adams screenplay to which NSKY owns the rights: They are working with a British company, Winchester
Entertainment, to secure the financing and things are "going well but not finalized yet."Last Friday's (7/24) Daily Variety had a front-page story on the possible production which resulted from an interview with Winchester, and NSKY was mentioned
prominently. Reynolds said the story had some errors but was essentially correct. It referred to the project as "Face Facts" instead of "Face Value", but they are the same entity. Peter Bagdonovich is "very interested in directing" the film but he is not yet a "done deal". Incidentally, the screenplay's author, Lynne Adams, is actress Brooke Adams' sister and Reynolds is talking with Brooke about her having a part in "Face Value". He mentioned a couple of weeks ago that several A-list actors were also
interested in a role in the movie. They plan on shooting the film in the fall but Reynolds
said the actual start of production depends on getting the financing in place. An
announcement will be made when everything is finalized...and it could be soon.
As for "The Hell Candidate", things are progressing but Reynolds declined to say any
more other than NSKY is in discussions with two major screen writers and are close to
an agreement. Due to the delicate nature of current talks, he couldn't say more.
As for company revenue, it could be coming in very soon---again depending on the
details of the financing. Reynolds says, with the help of Winchester, and as owner of the
rights and co-producer, NSKY could get substantial up-front money as well as
back-end participation in profits.
Reynolds has not yet started on the 10-Q report, but it is due by the 15th of August and
he will file it by then.
My working background required objectivity and I tend to be conservative when it
comes to reporting, but I've seen posters on various SI threads that would be doing
cartwheels after hearing news similar to the above. I'll reserve my cartwheels (wish I
could even come close to doing one) for the actual press releases. I will say that, after
35 years in the newspaper business, I'm pretty good at judging the person I'm
interviewing. IMO, Reynolds is sincere. I fully expect to see the NSKY projects move
along quickly, as he states, and to read good news soon.
I was hoping to see the stock go to .05 with positive news, but that may be conservative
also. We certainly seem to be considerably undervalued now. What a deal!! Good luck
to all.
Donster |
