FORT WAYNE, Ind., Aug. 17, 2010 (GLOBE NEWSWIRE) -- Mike The Pike Productions, Inc. (OTCBB:MIKP) (www.mikethepikeprods.com) announces today that executives have unanimously agreed to move forward through 2010 with no reverse split. The company recently acquired the rights to 'The Skin Trade' by George R.R. Martin (author of HBO's much anticipated 2011 series, 'Game of Thrones') and launched a Graphic Novel slate with partner, SpokeLane Entertainment, under the banner, SpokeFish Publishing.
"Our recent successes have generated quite a bit of potential in line with a great responsibility to see these projects through," states Mike the Pike Productions' CEO, Mark B. Newbauer. "In proceeding, we must be sure to meet capitalization requirements while giving good reason for investor confidence and overall market appeal. For companies 'in it to win it', this requires not only attention to project and operations detail, but also to existing and prospective shareholders." Newbauer continues, "A reverse split can be useful, if not necessary, in certain situations towards corporate advancement; however, we have collectively decided that to better keep this aforementioned balance, there is another way. Further, we feel it would be disingenuous to perform a reverse at .0001 when other options exist. We have some good long-term shareholders on board which we feel deserve a chance to capitalize on their investment well before such a move."
The company, to this effect will look to further raise its authorized share count to enable the flexibility necessary to facilitate project materialization. "This is a great time for us as a company in that we've taken our first year to ensure we are moving forward with the right team, the right projects and, now, the control necessary to grow in a very big way," states Newbauer. "There's been quite a bit of discussion and necessary planning and it's now time to take action in line with the company's long-term objectives by accomplishing the benchmarks therein. At the same time, we recognize that we are housed in a speculative industry and positioned in a speculative market. There are many advantages therein, but our goal is to mitigate the disadvantages all the while and I feel we have, in recent deliberations and actions therein, taken steps to effectively manage this as we move forward with some very exciting projects."
As well, the company will expedite activity necessary to obtain a Current Info Tier rating on OTC Markets with a commitment to consistent company updates through 2010. The website for Mike the Pike Productions is currently being renovated to allow for rich project detail, blog and company news features. As well, Mike the Pike Ventures, currently trading as Advanced Content Services (ADCS), will be spun off as its own completely separate, publicly traded entity and a price will be determined which we will ensure that shareholders receive a tangible part of, most likely in the form of a dividend in ADCS shares.
"In the past few months we've made tremendous progress on Spokefish, Dresden Sun and The Skin Trade, among others, and we are now prepared to release this information along with another asset we feel will be extremely attractive for MIKP and its shareholders. It's important to note that through everything, the company remains profitable in its first year. We look forward to progressive growth and a consistent stream of updates from here. We trust this decision, overall, speaks volumes in terms of shareholder efficacy," concludes Newbauer.
MTP Producers Ryan Colucci, Beth Newbauer and Mark B. Newbauer present: George R.R. Martin's THE SKIN TRADE: From the best-selling author of the Song of Ice and Fire series comes this white knuckle chiller with a string of unsolved murders immersed deep in lycan lore: When a series of grotesque killings strikes her small hometown, private detective Randi Wade becomes suspicious. The grisly murders remind her all too much of her own father's death nearly 20 years ago. Now there is a killer in town who not only slays his victims, but also takes their skin. Undaunted, Randi takes the case head-on as the murders continue, each more brutal than the last. When a close friend suddenly becomes a target, he is forced to reveal a startling secret about himself and Randi is quickly pulled into a dark world within her own town where monsters do exist and even they have something to fear...
MTP & Horseplay, LLC present: HORSE - a wild ride through the streets of Ft. Wayne on a night no one will forget…if they live to remember…as they take part against some not-so-friendly parties on the prowl for a missing bag of Heroin. It's a race against time for a club-owner, a drug mule, two college kids and a sadistic Irish kingpin in from Chicago to reclaim his stake. SHOOTING THIS FALL ON LOCATION IN FORT WAYNE, INDIANA!
Mike The Pike Prods + SpokeLane Entertainment = SPOKEFISH PUBLISHING
A concept-to-finish Graphic Novel publishing banner developing high-quality, compelling stories with the world's top writers, artists & more! Stay tuned for information on the SpokeFish slate including: Chasing Rabbits, R.E.M. and Bulderlyns…
FOLLOW EVERYTHING MIKE THE PIKE: UPSTREAM on TWITTER: $MIKP www.Twitter.com/mtpprods
MOTION PICTURES, GRAPHIC NOVELS, LITERARY ACQUISITIONS & more: Want to know what MTP Prods is all about? Check out www.mikethepikeprods.com
Safe Harbor: This release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Statements contained in this release that are not historical facts may be deemed to be forward-looking statements. Investors are cautioned that forward-looking statements are inherently uncertain. Actual performance and results may differ materially from that projected or suggested herein due to certain risks and uncertainties including, without limitation, ability to obtain financing and regulatory and shareholder approvals for anticipated actions.