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Independent Horror Film in Altanta - Funding Needed
by Katherine Joyce-Reilly
The Silent Cries Independent Horror Film
I'm an Associate Producer providing for a start-up movie production company, specializing in the Horror film genre. They are currently producing a film which is scheduled to begin shooting in the late Fall of this year. Seeking $2.5 million in funding, the principles have been able to secure a Letter of Credit for over $400,000, which will be released upon the receipt of a Letter of Intent from an investor, and the purchase of a surety bond.
Additionally, there is an immediate need for interim financing of $120,000, as seed Money to cover current pre-production costs.
Overview: This film company is seeking funding for the production of a Horror film, which is expected to begin shooting in the fall of 2011. The project is already in the preproduction phase, and accepting video auditions for the casting of key roles. An experienced production team and industry experts have been assembled to work on the film, bringing an aggregate of over 75 year of experience into the fold.
Equity in Project: $17,400
Promises Entertainment has invested $14,500 in the project to produce a trailer of the ?The Silent Cries? film to illustrate the essence of the story to investors, as well as begin generating a buzz about the film. start-up costs include legal fees amounting to $1,200, and $350 in graphic design costs for company logo, totaling $1,550. Additionally, there upfront fee for the Line Producer cost an additional $1,350 in overall capital put into the project.
Tax Credit: $500,000
Georgia Entertainment Industry Tax Credits has made a commitment to the project for above amount, based upon proposed production expenses anticipated for the shooting schedule in the Atlanta Georgia region.
Letter of Credit: $400,000
Tax Credit Funding, LLC (TCF) has issued a Letter of Credit to Promises Entertainment for the above amount which represents 90% of the Purchase Price of the Tax Credit earmarked for the project. TCF has agreed to purchase the Tax Credit at a rate of 83 cents on the credit dollar, equal to over $6500,000 with the intent to advance 90% of it to the company as a production loan. This is contingent upon the procurement of financing, and securing a completion bond.
Company & Ownership:
Promises Entertainment is incorporated as a limited Liability Corporation, D/B/A Carla Saunders Films. Carla Saunders currently holds 100% ownership of the company. The company is domiciled in Atlanta, Georgia, with a staff of 12 consultants.
Additional staff will be moved onto the payroll once production gets underway, which include actors, production crew, and post production experts.
If there is interested in the project, I would be happy to discuss the project and/or set up a conference call with the principle. An Executive Summary is available upon request by serious investor.
We look forward to hearing from you soon
Associate Producer/Financial Advisor
Cell (646) 208-56505
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