NEW YORK, June 1, 2015 /PRNewswire/ -- S&P Capital IQ
(MHFI) announced today that it has commenced Factual Stock Report
coverage on FONU2 Inc.
FONU2 Inc. (FONU) is a film studio and production company that
is developing a 1,560-acre, full-service production facility in
Effingham, Georgia. The company
also has an e-commerce division that is actively seeking
acquisitions to integrate into the social media networks vis a vis
the FONU2 platform.
Pre-construction and engineering have begun on the film studio
site with the initial warehouses and sound stages to follow. Both
the facility space and the equipment will be used by the company
for its own productions and made available for rental to third
parties.
On December 8, 2014, FONU2
acquired Studioplex City, LLC, and on February 10, 2015, the company acquired the lease
to the 1,560-acre property in Effingham
County, Georgia from Moon River Studios, Inc. The company
has established a film division to build and operate a large-scale,
full-service movie studio and produce motion pictures. The planned
Studioplex will feature sound stages, production and
post-production facilities, editing suites, warehouses, mills, and
set fabrication facilities. The company is focusing on feature film
projects that can be filmed on the company's property, or
surrounding locations, to minimize costs and maximize
efficiencies.
For its first project, FONU2 has engaged Penny Marshall to direct and Wendy Laski to co-produce the movie project
Effa. On February 27, 2015, the
company issued 166,666,667 common shares at a value of $0.06 per share to Eagle Productions, LLC to
acquire the worldwide distribution rights for the film Effa. The
company will be the sole and exclusive beneficiary of the worldwide
exploitation rights of the picture for all purposes, in perpetuity.
Once the company has recouped its advance in full, the company and
Eagle Productions will share in the net profits of the film, with
the company to receive 99% and Eagle Productions to receive 1%.
On February 17, 2015, the company
acquired the worldwide distribution rights for the movie Yellow,
written and directed by Nick
Cassavetes. Under terms of the agreement, FONU2 will receive
a 10% distribution fee, and a 20% return on all funds expended
associated with the acquisition of the rights, print and
advertising, marketing, and other expenses associated with the
release of the movie. As consideration, FONU2 has committed to
provide these costs and fees, along with the assumption of a
minimum of $540,000 of costs
associated with the movie.
The company's social media division has invested in the
development of a precision sales and marketing platform that
integrates into the social media networks. The FONU2 platform
offers members list, buy, sell and trade services locally in any
neighborhood and anywhere in the world.
FONU2 Inc. continues to believe that its social commerce website
offers potential for future income. However, this application
requires significant further investment to commercialize this
operation. The company is reviewing a number of potential
synergistic acquisitions that could benefit from the social
marketing platform.
On March 1, 2015, the company sold
Zaldiva Inc., consisting of Zaldiva.com, Zaldiva.com Comics &
Collectibles, Zaldiva Comics & Collectibles, and all of
Zaldiva's inventory and intellectual property, for the purchase
price of $10,100. The assets were
sold to a former director of the company.
FONU2 Inc. is based in Rincon,
Georgia.
S&P Capital IQ's Factual Stock Report coverage on FONU2 Inc.
will also be accessible on an ongoing basis to the investment
community by scores of buy-side institutions and sell-side firms
that utilize S&P Capital IQ research and information platforms
daily. Millions of self-directed investors also have access to the
report via their e-brokerage accounts. Please visit www.fonu2.com
for additional information.
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