SI
SI
discoversearch

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.
Microcap & Penny Stocks : 1ST MIRACLE GROUP (MVEE), founders last co. went $0.20-$46
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  
To: Butch4327 who wrote (3018)5/11/1999 1:12:00 AM
From: jhild  Read Replies (1) of 5541
 
Luc, you might find this interesting from the last audited financial they filed with SEDAR in Canada. This is a note about the Golan and Globus terms. Note that the terms are effectively doubled as far as it affects MVEE since they are extended to each of BIL and SIL.:

Subsequent Events

1) The Company signed an agreement with Belfair International Limited (BIL), and Seabird International Limited (SIL) under which Menahem Golan and Yoram Globus will provide services to the Company through a wholly owned subsidiary, Magic Entertainment, Inc. (Magic). This subsidiary will develop and distribute motion pictures and television programs. Under the agreement, Golan and Globus have contributed their services and certain other film properties owned by them through BIL and SIL to the Company in exchange for which each company receives the following:

a) 10,000,000 shares of common stock;

b) $250,000 per year draw against production costs;

c) Four shares of common stock for each $1.00 of net income generated by the Magic up to a cap of 25% ownership in the Company;

d) A bonus equal to 5% of the net income of Magic;

e) Certain other fees dependant on the role of Golan or Globus in individual film projects.

So effectively they seem to be talking about 50% ownership plus 20M shares along with the %10 net income as a bonus. That seems as though SIL/BIL (Golan & Globus) can wrest control at any time if there is ever any smash hit.

Oh, not to mention the additional $500K a year plus whatever additional considerations they can get. Now that is pretty sweet for a couple of 70+ year old names in the business.
Report TOU ViolationShare This Post
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  

HomeMailHotSubjectMarksPeopleMarksKeepersSettings
Terms Of UseContact UsCopyright/IP PolicyPrivacy PolicyAbout UsFAQAdvertise on SI
© 2025 Knight Sac Media.  Data provided by Twelve Data, Alpha Vantage, and CityFALCON News