Polymath and CineCity Studios to Explore a Tokenized Film Investment Platform

Investment parameters and offering terms remain subject to legal, regulatory and commercial review before the proposed vehicle is finalized.

Rhea-AI Summary

Polymath, which has agreed to be acquired by TruGolf Holdings (TRUG), announced a collaboration with CineCity Studios to explore tokenized film investment.

The proposed platform would use digital securities representing investment interests in film and entertainment opportunities. Polymath would provide technology for issuance, investor onboarding, compliance and ongoing administration. The proposed strategy is expected to evaluate opportunities across the film-finance lifecycle and different financing structures.

The vehicle remains under development, with final investment parameters, structure and offering terms subject to legal, regulatory and commercial review. No securities are currently being offered through this announcement. Polymath's acquisition agreement with TruGolf was announced on August 18, 2026; the transaction remains subject to customary closing conditions.

Positive

• Minor point. Forward-looking: it has not happened yet and may not happen.Polymath's proposed film investment platform would extend its tokenization technology into entertainment investments.

Negative

• Minor pointThe proposed investment vehicle remains under development, rather than an operating investment offering.
• Minor pointFinal investment parameters, structure and offering terms remain subject to legal, regulatory and commercial review.

Key Figures

Illinois film production tax credit: 35% Illinois credit program extension: 2038 Proposed federal credit: 20% +1 more

Illinois film production tax credit

35%

Credit on eligible in-state spending

Illinois credit program extension

2038

Program extension through 2038

Proposed federal credit

20%

Credit on U.S. labor, if passed as described

Potential combined credits

55%

Illinois and proposed federal credits, if the federal proposal passes

Historical Context

1 past event · Latest: Sep 28

1 event

1. Sep 28

   Tokenized franchise plans

   24h Move

   +11.4%

   Polymath and TruGolf Links outlined tokenized equipment leasing and fractional franchise opportunities.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Key Terms

digital securities, tokenized financial instruments, broker-dealer, placement agent

4 terms

digital securities financial

"regulated digital securities and tokenized financial instruments"

Digital securities are electronic tokens or records that represent ownership or claims—like shares, bonds, or other rights—held and transferred in a secure digital system rather than on paper. For investors they matter because they can make buying, selling and tracking ownership faster, cheaper and more transparent—similar to swapping a digital ticket instead of mailing a paper one—while also enabling new ways to fractionally own and transfer assets.

tokenized financial instruments financial

"regulated digital securities and tokenized financial instruments"

Digital tokens that represent ownership or economic rights in traditional financial assets—such as shares, bonds, funds or debt—issued and recorded on a distributed ledger or blockchain. They matter to investors because they can change how an asset is divided, traded, settled and tracked: like a digital certificate or stake recorded on a public or private ledger, tokenization can enable fractional ownership, faster settlement and different custody and liquidity arrangements.

broker-dealer regulatory

"not a broker-dealer, funding portal, investment adviser, or placement agent"

A broker-dealer is a licensed firm or individual that both executes trades on behalf of clients (acting as a broker) and buys or sells securities for its own account (acting as a dealer). Investors care because broker-dealers provide the plumbing of markets — they place orders, hold or move cash and securities, offer research or advice, and their stability and fees directly affect trade execution, costs, and the safety of client funds; think of them as a combined travel agent and taxi for your investments.

placement agent financial

"not a broker-dealer, funding portal, investment adviser, or placement agent"

A placement agent is a professional or firm that helps organizations raise money from investors, such as individuals, institutions, or funds. They act like matchmakers, connecting those seeking investments with the right investors and guiding the process to ensure successful funding. For investors, they can provide access to exclusive opportunities and help navigate complex fundraising efforts.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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The collaboration will marry Polymath's digital securities infrastructure with CineCity's film production ecosystem to explore a tokenized film investment vehicle

TORONTO and CHICAGO, Oct. 1, 2026 /PRNewswire/ -- Polymath Research Inc., a provider of enterprise-grade infrastructure for regulated digital securities and tokenized financial instruments, today announced its collaboration with CineCity Studios, a Chicago film and television production facility, to explore the development of a technology-enabled investment platform targeted towards film and entertainment investors.

Under the proposed structure, Polymath would serve as a technology partner to develop a tokenized film investment vehicle, providing infrastructure and expertise to support digital securities issuance, investor onboarding, compliance workflows, investor management, and the ongoing administration of tokenized interests. Polymath is a technology provider. It is not a broker-dealer, funding portal, investment adviser, or placement agent, and is not offering, recommending, or providing advice with respect to any security.

The initiative addresses a longstanding challenge in independent film finance: connecting quality productions with capital efficiently while giving investors a structured way to participate in a diversified portfolio of entertainment-related opportunities. According to Natalie Hirsch, Interim Chief Executive Officer and Chief Financial Officer of Polymath:

"The film industry is just one of many exciting examples of where tokenization can solve real-world capital formation problems. CineCity has the facilities, industry relationships, and production ecosystem, while Polymath brings the technology and capital markets infrastructure. Together, we have an opportunity to build a modern investment model around an asset class that historically has been inaccessible to many private investors."

The proposed investment strategy is expected to evaluate opportunities across the film-finance lifecycle and a range of financing structures. Final investment parameters, structure, and offering terms remain subject to legal, regulatory, and commercial review.

CineCity Studios operates a 140,000-square-foot film and television production facility in Chicago that has hosted major productions from Disney, Fox, Netflix, Comcast, NBCUniversal, and Tyler Perry Studios, as well as commercial productions for global brands including BMW, Rolls-Royce, Lamborghini, Xfinity, and Foot Locker/Nike, among others. The studio has also invested in expanding its technology and production capabilities as it continues to support Chicago's growing independent film and television community. According to Stanley Wozniak, Managing Partner of CineCity Studios:

"There's a tremendous amount of capital looking for differentiated investment opportunities, while filmmakers are constantly looking for more efficient ways to finance and produce quality productions. The film and television industry has a constant, growing need for new content. The exciting addition of VP LED Studios on campus brings cutting-edge virtual production, motion capture, multi-cam tracking, Unreal Engine, and AI integration to Chicago. We're bringing next-generation filmmaking to the studio with LED virtual production, combining immersive digital environments and real-time technology to expand creative possibilities and give filmmakers greater control. With VP LED, you can be anywhere. Working with Polymath gives us an opportunity to bring frontier technology into that equation and explore an investment model that can connect these two worlds in a way that has never before been possible."

Future productions at CineCity Studios qualify for Illinois' expanded Film Production Tax Credit, a 35% credit on eligible in-state spending. For investors, the credit creates an opportunity to reduce the effective cost of qualifying production expenditures by 35%, allowing a greater portion of invested capital to be directed toward the production and its revenue-generating assets. With the program extended through 2038, CineCity Studios offers productions a long-term opportunity to take advantage of one of the nation's most competitive film incentives. The Motion Picture, Television, and Entertainment Revitalization Act, introduced in 2026, would add a federal credit of 20% on U.S. labor. If passed as described, a Chicago production could combine Illinois' 35% credit with the federal 20% credit for a total of 55%, which would make Illinois one of the strongest places in the world to film.

For Polymath, the proposed collaboration would represent another application of tokenization beyond traditional financial assets and real estate, demonstrating how digital securities infrastructure can be applied to intellectual property, entertainment, and alternative investments.

About Polymath

Polymath develops enterprise-grade infrastructure for the issuance, compliance, and lifecycle management of regulated digital securities and tokenized financial instruments. Through its purpose-built technology and capital markets ecosystem, Polymath enables issuers and market participants to create and manage tokenized representations of real-world assets within compliant frameworks, supporting investor onboarding, regulatory controls, and post-issuance administration.

On August 18, 2026, Polymath announced an agreement to be acquired by TruGolf Holdings, Inc. (Nasdaq: TRUG), a transaction expected to bring Polymath's purpose-built blockchain and tokenization infrastructure to the U.S. public markets, subject to customary closing conditions.

Learn more at polymath.network

About CineCity Studios

CineCity Studios is a 140,000-square-foot Chicago-based production campus providing comprehensive studio, virtual production, and office facilities for film and television. The facility supports independent movies, major motion picture productions, commercial campaigns, and entertainment industry events such as Filmscape, Half-Rez, Chicago International Film Industry Days, the SAG-AFTRA Baron Awards, the Actors Empowerment Summit, the Pop-Up Asian Film Festival, the Latino Film Festival, IATSE Marketplace, the Best of the Midwest Film Festival Awards, and Chicago Innovation. CineCity Studios advances education, professional training, and industry collaboration, helping strengthen and connect Chicago's growing film and television production community.

Learn more at cinecitystudios.com

Important Notice

The investment vehicle described in this release remains under development. No securities are currently being offered pursuant to this announcement. Any future offering will be made only pursuant to applicable offering documents and in accordance with applicable securities laws and regulations. This release is not an offer to sell or a solicitation of an offer to buy any security, and is not a recommendation with respect to any investment.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of applicable U.S. and Canadian securities laws. Forward-looking statements include, without limitation, statements regarding the anticipated collaboration between Polymath and CineCity Studios, the expected benefits of the collaboration, the development and structure of a potential tokenized film investment vehicle, potential investment strategies and opportunities, the availability of film production tax credits and the status of proposed legislation, future adoption of tokenized assets, and the proposed acquisition of Polymath by TruGolf Holdings, Inc.

These forward-looking statements are based on current expectations, estimates and assumptions and are subject to known and unknown risks, uncertainties and other factors that may cause actual results or developments to differ materially from those expressed or implied by such statements. Such risks include, without limitation, the parties' ability to develop and implement anticipated initiatives, changes in market, economic and regulatory conditions, the tax credits referred to herein being unavailable, evolving legal and compliance requirements relating to digital assets and tokenized securities, technological challenges, the pace of adoption of tokenized securities and digital assets, and the satisfaction of conditions required to complete the proposed acquisition of Polymath by TruGolf. Readers are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date made. Polymath undertakes no obligation to update or revise any forward-looking statements.

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SOURCE Polymath Research Inc.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What are Polymath and CineCity Studios planning to develop?

Polymath and CineCity Studios are exploring a tokenized film investment platform. Under the proposed structure, Polymath would supply technology to issue and administer digital securities representing investment interests. The proposed strategy is expected to evaluate opportunities across the film-finance lifecycle and different financing structures.

Can investors currently buy securities in the Polymath and CineCity film investment vehicle?

No securities are currently being offered through this announcement. The vehicle remains under development. Any future offering will be made only through applicable offering documents and in accordance with applicable securities laws and regulations.

Will Polymath act as an investment adviser for the CineCity film investment platform?

Polymath is a technology provider, not an investment adviser, broker-dealer, funding portal or placement agent. It is not offering or recommending securities or providing advice about any security.