Family Room Entertainment (FMLY)
Producing films with top quality talent at a modest cost.
FMLY announced that for the first quarter of Fiscal Year 2005, revenues have increased by 731% over the same quarter of 2004. Revenues for the first quarter of 2005 totaled $975,557, up from $133,500 for first quarter 2004.
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FMLY Highlights
Announced that for the first quarter of Fiscal Year 2005, revenues have increased by 731% over the same quarter of 2004. Revenues for the first quarter of 2005 totaled $975,557, up from $133,500 for first quarter 2004. In addition, this increase in revenues is an increase of 1409% over fourth quarter of Fiscal Year 2004, which had revenues of only $69,233.
Net Income was $44,719 for the first quarter 2005, compared to a Net Loss of ($549,891) for the same period of Fiscal 2004.
Recently announced that John Travolta had signed on to star in "LONELY HEARTS", a picture EFF is producing with a third party.
Announced that it has fully paid off its debt contracted through its line of credit with its banking facility thereby strengthening its balance sheet.
Announced that it has received funding from institutional and accredited investors, with net proceeds to the Company of $1,744,290.
"A LOVE SONG FOR BOBBY LONG" world-premiered at the Venice Film Festival. The Pic stars John Travolta and Scarlett Johansson and was executive produced by FMLY’s Randall Emmett and George Furla.
“THE AMITYVILLE HORROR” has completed principal photography and is now in post-production.
"Edison" starring Morgan Freeman, LL Cool J, Justin Timberlake and Kevin Spacey is scheduled to be released in 2005.
Announced that principal photography began on the Steven Seagal action movie, titled "TODAY YOU DIE".
Announced that it has completed principal photography on motion picture entitled " THE TENANTS", starring Dylan McDermott (TV's THE PRACTICE) and Snoop Dogg (STARSKY AND HUTCH).
“SUBMERGED” starring Steven Seagal has completed principal photography and is now in post-production.
The Company is in active development of “THE CONTRACT” for two time Academy Award nominee, Bruce Beresford, to direct.
"MICRONAUTS” which is based on the 1970s and 80s toy line and featured in almost 200 Marvel Comics issues, is in active development.
“ROOM SERVICE” based on the novel by Beverly Brandt, is in active development.
“RIN TIN TIN” based on the true story of the abandoned puppy found a World War I battlefield, is in active development.
Announced that its wholly owned titles, "AFTER SEX" and "HELD FOR RANSOM" have completed their first cycle of distribution within the United States, and all rights (including the television and the home video/DVD rights) are now available for re-licensing by Emmett/Furla Films.
Also in the early stages of development is "THE ABOMINABLE SNOWMAN" which Emmett and Furla will produce with Ilya Salkind (Superman I, II, III).
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Overview
FMLY is involved with several movies scheduled for production or release in 2005. This will be by far the most productive year in the history of FMLY.
"The Amityville Horror," which FMLY’s Randall Emmett and George Furla co-executive produced, will be the first movie released this year and will be distributed by MGM/Dimension Films.
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Profile
Family Room Entertainment Corporation, with its subsidiaries, Emmett/Furla Films Productions, Emmett/Furla Films Distribution and EFF Independent, is a publicly held company trading on the NASDAQ Bulletin Board under the symbol "FMLY". FMLY develops, produces and performs production related services for the entertainment industry. Family Room Entertainment's aim is to create and produce high quality motion pictures with high profile talent that can be distributed to a worldwide audience. FMLY derives its income from producer fees, production consulting and service fees and royalties as well as its participation in the profits of the various pictures it produces.
The FMLY co-founders, Randall Emmett and George Furla, believe that they have the expertise and contacts within the entertainment industry, specifically in the competitive production and distribution arenas, to profitably acquire content, package product by adding value to the content with top quality talent and produce motion pictures which are in the moderate to higher level budgets, which can be distributed to a mass worldwide audience.
FMLY announced that for the first quarter of Fiscal Year 2005, revenues have increased by 731% over the same quarter of 2004. Revenues for the first quarter of 2005 totaled $975,557, up from $133,500 for first quarter 2004. Net Income was $44,719 for the first quarter 2005, compared to a Net Loss of ($549,891) for the same period of Fiscal 2004.
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Strategy
FMLY was created to take advantage of an opportunity in the movie/video segment of the entertainment industry. The company founders (Randall Emmett and George Furla) developed a business model that can profitably produce:
Moderate cost movies (generally in the $5 to $25+ million range depending on the property)
Utilizing acting talent that has name recognition but is affordable.
FMLY employs a business model that the company believes minimizes investment risk in entertainment productions. This ‘formula’ provides the potential for FMLY to attain breakeven early in the product life cycle and achieve profitability. Employing a core group of highly qualified staff that can source ideas, talent and financing is key to the company’s success.
Since inception, the company has developed, produced and participated in the distribution of various films using this formula. Marquee stars include: Billy Bob Thornton, Steven Seagal, John Travolta, Morgan Freeman, Charlie Sheen, Denise Richards, Kevin Bacon, Christian Slater, Val Kilmer, Willem Defoe, Justin Timberlake and many others.
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Recent News and Press Releases
Family Room Joins Maverick & Integrated for a Ride on the ``TERROR TRAIN''
John Travolta Cures ``Lonely Heart'' with Family Room Entertainment
Family Room Sings ``A Love Song'' with Scarlett Johansson Golden Globe Nomination
Family Room Entertainment Financials
Family Room Pays Off Line of Credit
Family Room Begins New Film with Action Star Steven Seagal
FAMILY ROOM ENTERTAINMENT CORP Files SEC form 8-K, Entry Material Agreement, Financial Statements and Exhibits
Family Room Enters Second Cycle on Two Titles
Family Room Completes Filming on THE TENANTS
Family Room Revenue Up by 1407% Over Previous Quarter
FAMILY ROOM ENTERTAINMENT CORP Files SEC form 10QSB, Quarterly Report
Family Room Says 'Saturday Night' Alright
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Management
Randall Emmett - Co-Chairman
Mr. Emmett has extensive experience in the entertainment and film industry. He began his career with Simpson/Bruckheimer Studios as an Assistant to the producer after graduating from the New York School of Visual Arts in 1994. While at Simpson/Bruckheimer, Randall worked on film projects such as “Bad Boys” and “Crimson Tide”. Randall later worked for International Creative Management (“ICM”) as an Assistant within the Motion Picture Talent Division. Mr. Emmett has joint responsibility for concept development.
George Furla - Co-Chairman
Mr. Furla has over 18 years of business experience in entertainment and financial services. He began his business career with Cantor Fitzgerald where he was a trader in the equity securities area. After spending several years with Cantor Fitzgerald, George then worked for Jones and Associates for 3 years in a similar capacity. In 1988, Mr. Furla left Jones and Associates to run a hedge fund that he established. Mr. Furla entered the film business in 1995, financing several productions. George formed the current production company in 1998 and is principally responsible for financing arrangements, distribution and has joint responsibility for concept development. Mr. Furla is a 1982 graduate of the University of Southern California with a degree in business administration.
M. Dal Walton, III - Vice President of Development and Business Affairs
Mr. Walton brings expertise in both film and television. While attending Rollins College in Florida , Dal started a television station targeted at the student and regional Market. After graduation in 1993 with a degree in International Relations, Dal has worked on several film projects with Columbia Tri-Star Television, MGM/UA, Spelling Entertainment Group, Saban Entertainment, and network television productions for NBC in various Production Accounting functions. In addition, Mr. Walton co-coordinated the television production of the 1996 Summer Olympiad in Atlanta, Georgia. Dal joined Emmet/ Furla Films in 1998 and produced the “Andrew Dice Clay...I’m Over Here Now” pay per view event. Dal is currently responsible for idea/story development, relations with writers, screening potential projects and the business affairs (finance, legal and general administrative functions) of EFF.
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Three Month Chart
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Contacts
M. Dal Walton III
Investor Relations
8530 Wilshire Suite 420
Beverly Hills , CA 90211
Telephone: (310) 659-9411 x 127
Facsimile: (310) 659-9412
Email: ir@fmlyroom.com
Website: www.fmlyroom.com
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Forward Looking Statements
Safe Harbor: Statements contained in this report, which are not historical facts, are forward-looking statements as that are defined in the Private Securities Litigation Reform Act of 1995. Such forward-looking statements are subject to risks and uncertainties, which could cause results to differ materially from those projected.
This report contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 (the "ACT"). In particular, when used in the preceding discussion, the words "plan," "confident that," "believe," "expect," "intend to" and similar conditional expressions are intended to identify forward-looking statements within the meaning of the ACT and are subject to risks and uncertainties, and actual results could differ materially from those expressed in any forward-looking statements. Such risks and uncertainties include, but are not limited to, market conditions, competitive factors, the ability to successfully complete additional financings and other risks.
Disclaimer
SmallCapReview.com feature stock reports are intended to be stock ideas, NOT recommendations. Please do your own research before investing. It is crucial that you at least look at current SEC filings and read the latest press releases. For continuing coverage of FMLY, please sign up for our free newsletter, SmallCapReview.com News. Information contained in this report was extracted from current documents filed with the SEC, the company web site and other publicly available sources deemed reliable. For more information see our disclaimer section, a link of which can be found on our web site. This document contains forward-looking statements, particularly as related to the business plans of the Company, within the meaning of Section 27A of the Securities Act of 1933 and Sections 21E of the Securities Exchange Act of 1934, and are subject to the safe harbor created by these sections. Actual results may differ materially from the Company's expectations and estimates. This is an advertisement for Family Room Entertainment. The purpose of this advertisement, like any advertising, is to provide coverage and awareness for the company. The information provided in this advertisement is not intended for distribution to, or use by, any person or entity in any jurisdiction or country where such distribution or use would be contrary to law or regulation or which would subject us to any registration requirement within such jurisdiction or country.
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