Authentic Holdings Completes Acquisition of Goliath Motion Pictures Promotions for $5.3 million
Somerville, NJ -- June 20, 2023 -- InvestorsHub NewsWire -- Authentic Holdings, Inc. (OTC PINK: AHRO) has completed the acquisition of Goliath Motion Pictures Promotions. Chris H Giordano, President and Chairman of Authentic Holdings, Inc., stated, "The acquisition of Goliath Motion Pictures Promotions represents a strategic corner of the puzzle in Authentic Holdings, Inc. building a substantial media and merchandising company. Goliath has been building its massive catalogue for 17 years. It includes over 15,000 full length movies and serial television shows from every genre starting from the 1940s through 2021. In addition to now having a large library of movies we will continue to add hundreds of movies each month to increase the depth and breadth of the Goliath Motion Pictures library for its upcoming monetization in the very near future.
Now that we have acquired this extraordinary library, it is time to breathe new life into all of these titles by "tokenizing" the entire catalogue. This will not only keep them secure but allow us to create a substantial opportunity for distribution to movie lovers around the world. Tokenizing will allow us to distribute Goliath's content to platforms not only here in the US but also overseas without risk of piracy and payment for services. The library will also provide Maybacks Global Entertainment Network, our earlier acquisition, with an enormous amount of additional programming. In addition, it will also create a potentially massive opportunity in another market vertical. With that market vertical presenting itself right now we will now start creating the necessary Smart contracts and Apps for both the "Smart TV" market and the iOS and Android platforms. The Apps will be created for servicing both the Video on Demand ("VOD") markets and the "Linear Television" markets your traditional "scheduled programming" type television. Maybacks Global already has a relationship with several Smart TV manufacturers that have added the Maybacks Global Entertainment App to over 50,000 Smart TVs to date which will allow us the advantage of familiarity with the manufacturers when it comes time to load our VOD service along with Maybacks network programming.
We expect to have the App completed for both Smart TVs and the iOS and Android markets done in approximately 6-8 weeks and expect to do a soft launch via test market by the end of August. The VOD market has experienced stellar growth and is still expected to grow rapidly over the coming five years industry-reports/video-on-demand-market . Authentic expects to aggressively market its Goliath catalogue wherever opportunities present. We will start marketing both our planned VOD and linear platforms in late September of 2023 to both domestic and overseas audiences where we expect to charge a very small monthly access fee for unlimited access.
Lastly, the acquisition of Goliath was done without any up-front dilution to shareholders. The Company issued 100,000 shares of a SERIES D
With the second acquisition in two months now completed it should be quite apparent that Authentic Holdings, Inc., fully expects to combine organic growth with an aggressive acquisition strategy in its attempt to create a standout company in Media and Merchandising market. We are also in the final stages of negotiations to either "exclusively license" or purchase a music catalogue of 10,000+ Master Recordings which if acquired or licensed will allow us to first tokenize and then monetize these assets through sales of records and/or Limited-Edition music NFTs.
We look forward to our next communication with you, our shareholders. Please feel free to contact us with any questions you may have regarding the acquisition of Goliath Motion Pictures Promotions or any other general questions you may have.
SAFE HARBOR ACT
Forward-Looking Statements: This release contains statements that constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements appear in a number of places in this release and include all statements that are not statements of historical fact regarding the intent, belief or current expectations of Authentic Holdings, Inc, its directors or its officers with respect to, among other things: (i) financing plans; (ii) trends affecting its financial condition or results of operations; (iii) growth strategy and operating strategy. The words "may," "would," "will," "expect," "estimate," "can," "believe," "potential" and similar expressions and variations thereof are intended to identify forward-looking statements. Investors are cautioned that any such forward-looking statements including those relating to the Company's financing being adequate for the Company to place its products in retail stores, execute its acquisition strategy, and to launch its growth and expansion plans, among others, are not guarantees of future performance and involve risks and uncertainties, many of which are beyond Authentic Holdings, Inc's ability to control, and actual results may differ materially from those projected in the forward-looking statements as a result of various factors. No information in this press release should be construed in any way whatsoever as an indication of Authentic Holdings, Inc.'s future revenues, financial performance, or stock price. More information about the potential factors that could affect the business and financial results is and will be included in Authentic Holdings, Inc, filings with the Securities and Exchange Commission at www.sec.gov.
SOURCE: Authentic Holdings, Inc
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