The increase yesterday relates to pending news and this progress report that the company asked me to post. This is just a progress report for internet investors and will not be submitted to the wire services.
Gary
September 18, 1998
Contacts: nvxe@newvisual .com
New Visual Entertainment
(888) 639-8478
NEW VISUAL ENTERTAINMENT, INC. REPORTS
IMPRESSIVE RESULTS IN BELIZE; ANNOUNCES PROGRESS
IN CORPORATE FINANCE
Burbank, CA - Upon completion of principal photography and now through the first stages of the post production process, New Visual Entertainment, Inc. (NVXE:BBS) is pleased to report an enthusiastic response to the high-quality 3D footage shot in Belize.
The Company reports that, found within the film is a broad array of underwater wildlife known to the Belize Barrier Reef including sharks, rays, and dolphin, that collectively create a balanced experience of both soothing and startling scenes. The Company has been working with Bruce Austin and BAP Studios through the post/edit process and happily reports that a cohesive relationship with Bruce and the full scale post production facility is being forged. New Visual reports that it has already received numerous calls inquiring about rentals and licensing of the new film and anticipates sales to theatrical, cable, and home video markets to begin in October.
The Company also proudly announces it has named Elorian Landers to the Board of Directors to fill the vacant seat of Frank W. DeMille. Mr. Landers has 12 years experience in the area of corporate finance and brings a polished professionalism to NVE's capital structuring and funding efforts. To that end, the Company reports a resolute confidence in the likelihood of securing funding in the near future.
"We're excited right now to have a good product in hand, and to be so close to having the capital necessary to market it", states Ray Willenberg, Jr., President/CEO of New Visual Entertainment. "What we have always known is that we have solid technology and good people with good ideas, and when you add capital to those elements, it really completes the picture for us", Willenberg adds. "We're all hopeful, yet fairly confident, that the funding is just on the horizon", he concludes.
New Visual Entertainment, Inc. is a true stereoscopic 3D production company that 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.
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