Fearless Films Announces Progress of Film Development

Rhea-AI Summary

Fearless Films, Inc. (OTC: FERL) is advancing its first feature film, YOUNG GANGSTERS OF AMERICA, with a projected budget of USD $30 million. The company is collaborating with a Hollywood film media research firm to develop a marketing model, which is expected to enhance the asset value necessary for production funding. Negotiations for financial guarantees from institutions are underway, aimed for completion in Q4 2020. Following funding, preproduction will commence. The Board is also negotiating to acquire the film asset from writer and producer Victor Altomare.

Positive

• Advancement in the development of the feature film, YOUNG GANGSTERS OF AMERICA.
• Collaboration with an established Hollywood film media research company.
• Projected budget of USD $30 million, indicating a significant investment in production.
• Negotiations for financial guarantees to secure funding from banks.
• Expected completion of marketing model and funding by Q4 2020.

Negative

• Dependence on external financing, which may introduce risks if not secured.
• Uncertainties regarding audience acceptance of the film, potentially affecting market performance.
• Company's early stage of business development may pose challenges in executing growth strategies.

TORONTO, Oct. 14, 2020 /PRNewswire/ -- Fearless Films, Inc. ("Company") (OTC: FERL) Advances Development of its first Full-length Feature Film, YOUNG GANGSTERS OF AMERICA ("the film").

Fearless Films together with an established Hollywood film media research company is in the process of developing a marketing model for the film, YOUNG GANGSTERS OF AMERICA.

The completed marketing research will provide the Company the asset value necessary to establish production based on the film's projected budget of USD $ 30 Million.

The company is negotiating a financial guarantee from an institution enabling funding to be provided by a bank.

Completion of marketing model and funding is expected during the final quarter of 2020.  Upon funding, Fearless Films will begin initial stage preproduction of the film.

The Board of Directors of Fearless Films is in the process of negotiating terms and conditions to purchase the film asset from Victor Altomare as an individual, the writer and producer of the film.

About Fearless Films, Inc.
Fearless Films, Inc. is an independent full-service production Company founded by award-winning actor/ producer Victor Altomare along with award-winning writer and director Goran Kalezic. The service scope specializes in short film and feature film production in addition to script writing, copywriting, fulfillment and distribution.

The Company trades on the OTC Pink tier of the OTC market. Investors can find stock price quotes and market Information for the Company at otcmarkets.com.

Visit us at: http://www.fearless.film/ 

Forward-Looking Statements:
This press release may contain "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Such statements include, but are not limited to, any statements relating to our growth strategy and product development programs and any other statements that are not historical facts. Forward-looking statements are based on management's current expectations and are subject to risks and uncertainties that could negatively affect our business, operating results, financial condition and stock price. Factors that could cause actual results to differ materially from those currently anticipated are: risks related to our growth strategy; risks relating to the results of film development activities; our ability to obtain, perform under and maintain financing and strategic agreements and relationships; uncertainties relating to audience acceptance of our entertainment products, our dependence on third-party suppliers; our ability to attract, integrate, and retain key personnel; the early stage of our business development; our need for substantial additional funds; government regulation; patent and intellectual property matters; competition; as well as other risks described in our SEC filings. We expressly disclaim any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in our expectations or any changes in events, conditions or circumstances on which any such statement is based, except as required by law.

View original content:http://www.prnewswire.com/news-releases/fearless-films-announces-progress-of-film-development-301152084.html

SOURCE Fearless Films, Inc.

FAQ

What is the latest development for Fearless Films (FERL)?

Fearless Films is advancing its feature film YOUNG GANGSTERS OF AMERICA with a projected budget of $30 million and is working on a marketing model.

When is the funding for the film YOUNG GANGSTERS OF AMERICA expected to be completed?

Funding is expected to be completed during the final quarter of 2020.

What is the projected budget for YOUNG GANGSTERS OF AMERICA?

The projected budget for the film is USD $30 million.

Who is the writer and producer of YOUNG GANGSTERS OF AMERICA?

Victor Altomare is the writer and producer of the film.

What institution is Fearless Films negotiating with for funding?

Fearless Films is negotiating a financial guarantee from an institution to enable bank funding.