Seven Arts Entertainment Inc. Provides Shareholder Update to Correct the Record on Recent Press
Seven Arts Entertainment Inc. (OTC:SAPX) has issued a clarification regarding its July 11, 2025 announcement about a new film project. The company had to retract the previous press release due to an undisclosed talent's existing non-compete clause with another organization.
The company addressed statements made by a talent manager, explaining that managers don't have complete visibility into production partnerships. SAPX confirmed the project remains active, with ongoing negotiations for additional talent and resources. The company also mentioned pending announcements regarding acquisitions, new projects, and a shareholder Q&A.
Seven Arts Entertainment Inc. (OTC:SAPX) ha emesso una precisazione riguardo al suo annuncio dell'11 luglio 2025 su un nuovo progetto cinematografico. La società ha dovuto ritirare il comunicato stampa precedente a causa della clausola di non concorrenza, non resa nota, di un talento con un'altra organizzazione.
La società ha risposto alle dichiarazioni di un manager di talenti spiegando che i manager non hanno una piena visibilità sulle partnership di produzione. SAPX ha confermato che il progetto rimane attivo, con trattative in corso per ulteriori talenti e risorse. La società ha inoltre annunciato che ci sono comunicazioni in arrivo riguardo acquisizioni, nuovi progetti e una sessione di Q&A per gli azionisti.
Seven Arts Entertainment Inc. (OTC:SAPX) emitió una aclaración sobre su anuncio del 11 de julio de 2025 acerca de un nuevo proyecto cinematográfico. La compañía tuvo que retirar el comunicado de prensa anterior debido a la cláusula de no competencia, no divulgada, de un talento con otra organización.
La compañía respondió a las declaraciones de un manager de talentos explicando que los managers no siempre tienen visibilidad completa sobre las asociaciones de producción. SAPX confirmó que el proyecto sigue activo, y que continúan las negociaciones para incorporar talento y recursos adicionales. La compañía también indicó que existen anuncios pendientes sobre adquisiciones, nuevos proyectos y una sesión de preguntas y respuestas para accionistas.
Seven Arts Entertainment Inc. (OTC:SAPX)는 2025년 7월 11일 발표한 신규 영화 프로젝트 관련 공지에 대해 정정 입장을 냈습니다. 회사는 한 출연자의 기존 비경쟁 조항이 공개되지 않아 이전 보도자료를 철회해야 했다고 밝혔습니다.
회사는 한 탤런트 매니저의 발언에 대해 매니저가 제작 파트너십의 전모를 파악하지 못할 수 있음을 설명했습니다. SAPX는 프로젝트는 계속 진행 중이며 추가 출연진과 자원을 놓고 협상이 진행 중이라고 확인했습니다. 또한 인수, 신규 프로젝트 및 주주 대상 질의응답에 관한 추후 발표가 남아 있다고 전했습니다.
Seven Arts Entertainment Inc. (OTC:SAPX) a publié une clarification concernant son annonce du 11 juillet 2025 au sujet d'un nouveau projet cinématographique. La société a dû retirer le communiqué de presse précédent en raison d'une clause de non-concurrence, non divulguée, d'un talent avec une autre organisation.
La société a répondu aux déclarations d'un manager de talents en précisant que les managers n'ont pas toujours une visibilité complète sur les partenariats de production. SAPX a confirmé que le projet reste actif, que des négociations sont en cours pour obtenir d'autres talents et ressources. Elle a également indiqué qu'il y a des annonces à venir concernant des acquisitions, de nouveaux projets et une séance de questions-réponses pour les actionnaires.
Seven Arts Entertainment Inc. (OTC:SAPX) hat eine Klarstellung zu seiner Ankündigung vom 11. Juli 2025 über ein neues Filmprojekt herausgegeben. Das Unternehmen musste die vorherige Pressemitteilung zurückziehen, weil die bestehende Wettbewerbsvereinbarung eines Talents mit einer anderen Organisation nicht offengelegt worden war.
Das Unternehmen ging auf Aussagen eines Talentmanagers ein und erklärte, dass Manager nicht immer vollständige Einblicke in Produktionspartnerschaften haben. SAPX bestätigte, dass das Projekt weiterhin aktiv sei und Verhandlungen über weiteres Talent und Ressourcen laufen. Zudem nannte die Gesellschaft ausstehende Ankündigungen zu Übernahmen, neuen Projekten und einer Fragerunde für Aktionäre.
- Film project remains active and under development
- Company actively negotiating for additional talent and resources
- Multiple upcoming announcements planned regarding acquisitions and new projects
- Required retraction of previous press release due to talent's non-compete clause
- Public disagreement with talent manager potentially affecting company reputation
- Increased restrictions and non-disclosure requirements on project communications
ATLANTA, GA / ACCESS Newswire / August 11, 2025 / Seven Arts Entertainment Inc. (OTC PINK:SAPX), the "Company", a legacy film and music production company, is pleased to provide the following update.
On July 11, 2025, the Company announced a new film project through an independent production company working with a known sports and entertainment figure. Following the approval and release of the press it was later discovered that this individual still had time remaining in an existing non-compete clause with a particular organization. This oversight was not due to any error on the part of Seven Arts, but, due to the urgency of the matter and pressure upon various parties, the Company agreed to retract the press release until a future date.
Seven Arts is further aware of statements made by a manager regarding the Company. This individual was simply mistaken and likely concerned about any blowback his client might receive due to the announcement. It is not in the purview of a talent manager to have firsthand knowledge of every third-party producer or vendor that the lead production company has elected to do business with on a project. Seven Arts is under agreement with the primary producer of the film, not with the film's various performers.
Since that time all parties have agreed to sign off on more stringent non-disclosures until a future date, agreed upon by the parties. The project remains underway, and Seven Arts is actively negotiating with the primary producer to bring additional talent and resources into the film.
Upon recent communications with OTC Markets, the Company has chosen to address this subject as a stand-alone release. The Company still has several announcements pending regarding acquisitions, new projects, and shareholder Q&A that Seven Arts intends to release shortly.
About: Seven Arts Entertainment Inc. is a media and entertainment company developing a diverse portfolio of intellectual properties in the film and music industries.
Forward-Looking Statements:
This press release contains forward-looking statements. The words 'believe,' 'may,' 'estimate,' 'continue,' 'anticipate,' 'intend,' 'should,' 'plan,' 'could,' 'target,' 'potential,' 'is likely,' 'will,' 'expect' and similar expressions, as they relate to us, are intended to identify forward-looking statements. The Company has based these forward-looking statements largely on our current expectations and projections about future events and financial trends that we believe may affect our financial condition, results of operations, business strategy and financial needs. Some or all of the results anticipated by these forward-looking statements may not be achieved. Any forward-looking statement made by us herein speaks only as of the date on which it is made. Factors or events that could cause our actual results to differ may emerge from time to time, and it is not possible for us to predict all of them. The Company undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future developments or otherwise, except as may be required by law.
Contact: info@sevenartsentertainment.com
X: @SAPX_7arts
SOURCE: Seven Arts Entertainment, Inc.
View the original press release on ACCESS Newswire
FAQ
Why did Seven Arts Entertainment (SAPX) retract its July 11, 2025 press release?
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