BEVERLY HILLS, Calif., March 8, 2007 (PRIME NEWSWIRE) -- Imperia Entertainment, Inc. (Pink Sheets:IPEI) Chairman Kenneth Eade today released the following corporate update to shareholders:
Dear Shareholders,
The last few months have seen a number of positive and outstanding developments for Imperia Entertainment Inc. In keeping with our new policy of constant communication with current and future shareholders, we will continue to summarize these developments on a more frequent basis. In our opinion Imperia Entertainment is well on its way to a prominent position as a powerful entertainment firm. We hope that investors and shareholders will thoroughly review these developments and share these sentiments as positively as we do. Please review as follows:
We are in the process of completing our agreement with Nexxus One Capital Trust of Switzerland, A.G., which will provide $10 million in new capital. Under the terms of the agreement, in exchange for restricted common stock, Nexxus One will capitalize Imperia by delivering $10 million in the form of an investment-grade, five-year secured bond.
We will focus also on obtaining the year-end accounting and an audit for our subsidiary, Muller Media, Inc., in order to register stock dividends declared for our shareholders last year. We are now seeking a full-time accountant to act as Chief Financial Officer. We expect the company will ready an audit that will allow us to pursue options for a better market for our common stock.
"Say it in Russian," a film staring renowned Academy Award winning actress Faye Dunaway, will be released shortly. Ms. Dunaway has been a Hollywood favorite for years and is considered one of the last great classical actresses in the industry. She has been a star in such films as "Three Days of the Condor", "Little Big Man", "China Town", "Mommie Dearest" and "Network". This stunning actress will now grace the screen of Imperia Entertainment' s "Say it in Russian" in a calculating and sophisticated role that will delight audiences worldwide. Please visit the trailer at sayitinrussianmovie.com.
"Never Submit" has retained veteran casting director Rosemary Welden who has cast over 55 films. It was recently announced that both Ken Shamrock and Cung Le have been cast in key roles in the movie as well as world-renowned Champion Kickboxer Michael Anthony McDonald. "Never Submit" is a movie set in the world of MMA. The performances will be a mix of nationally recognized actors and fighters.
"Never Submit" is an inspirational tale similar to "Rocky," but the lead character is an intelligent young man (as are most fighters competing in this sport) rather than a beaten-down punch-drunk fighter. An amazing cast of characters will round out this film; each from different walks of life; each with his own set of circumstances and motivating factors driving him to be the best. "Never Submit" is a metaphor describing the way these athletes live their lives. Imperia Entertainment recently announced a partnership with TapouT Magazine tapoutmagazine as part of a cross-country tour to promote the publication as well as the movie (neversubmit.com).
We have also hired CapitalPros Network to assist in media relations and expand media activity and communication in the financial markets. CPN is educating investors, the Broker Dealer community and interested parties through syndication, press coverage, financial media and multiple distribution platforms of the opportunity. Since the hire price both per share and volume have increased. We look forward to the future of this campaign as well.
I wish to express my gratitude to all shareholders for their support of the company and its endeavors. Together I believe we can make 2007 a very productive year.
Sincerely yours, Kenneth Eade Chairman, Imperia Entertainment, Inc.
This press release contains statements, which may constitute "forward-looking statements" within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act of 1995. Those statements include statements regarding the intent, belief or current expectations of Imperia Entertainment, Inc. and members of its management as well as the assumptions on which such statements are based. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those contemplated by such forward-looking statements. Important factors currently known to management that could cause actual results to differ materially from those in forward-statements include fluctuation of operating results, the ability to compete successfully and the ability to complete before-mentioned transactions. The company undertakes no obligation to update or revise forward-looking statements to reflect changed assumptions, the occurrence of unanticipated events or changes to future operating results.