TO ALL: Following is a fax I just received from Colleen which she asked me to post to the thread. It addresses the questions she has been asked recently but could not respond to until she received approval from NSKY.
Dear Shareholders:
The following updates are designed to answer the most frequently asked questions we have been receiving:
1- The filming of "FREAK TALKS ABOUT SEX" was completed last year. The film is now in the final stages of post production which should be complete within two to three weeks. As far as the title is concerned, it will not be changed unless a distributor decides it is necessary to do so.
2- New Sky and its producing partner, Owasco Entertainment, are working with Winchester Entertainment to raise the financing for "Face Facts", which is budgeted at $3 to $4 million. We have had several meetings over the past two weeks with potential financing/distribution partners. Winchester is financing a re-write of the screenplay, which should be completed in a few weeks. At that point, we will meet again with companies which have expressed an interest in co-financing and distributing "Face Facts" domestically. Winchester will handle foreign sales of the film.
3- New Sky and Owasco own the option on "The Hell Candidate". The first draft of the screenplay will be delivered to NSKY within the next 10 days. We anticipate at least one more draft of the screenplay will be necessary before we can enter into financing/distribution talks with potential partners.
4- We have several options with "Freak Talks about Sex" once the film is complete. We may submit the film to The Sundance Film Festival; we may schedule a round of screenings with potential domestic distributors in L.A. and N.Y.; or we may sell foreign rights first, followed by domestic distributor screenings several months from now. Once the film is complete we will decide on the best approach.
5- New Sky Communications is a movie production company. We cannot and will not attempt to "project revenues". It would be impossible and inappropriate to predict what kind of revenue stream any particular project might generate. Once a film is completed and in the marketplace NSKY's revenues, if any, would be determined by how well the film performs. That figure cannot be determined until distribution agreements are entered into and the film is already in release.
6- We appreciate our shareholders' interest in NSKY. However, we firmly believe it is in the company's and the shareholders' best interests to work diligently to complete our projects and to refrain from making projections. Each project is unique in and of itself, and there is no way to project how they will perform financially. This is part of the excitement and also part of the risk of the movie business.
7- When an announcement is significant and appropriate, the company shall release such information. In the interim, daily updates to individual shareholders are superfluous and improper when not disclosed publicly.
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