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Platinum Studios Conducts Shareholder Call(December 07, 2011)
LOS ANGELES, CA -- (Marketwire) -- 12/07/11 -- Platinum Studios (OTCBB: PDOS) held its announced shareholders' call on Friday, December 2, 2011 and releases a transcript of the call for those shareholders and interested members of the investment community who were unable to attend.
John Rutledge: "Ladies and Gentlemen, thank you for joining this call. I'm John Rutledge, President of Rutledge Law Center LTD., legal counsel to Platinum Studios, Inc. It is my distinct pleasure to introduce Platinum Studios' Chairman and CEO, Scott Rosenberg. Scott, take it away."
Scott Rosenberg: "Thanks, John. Good afternoon, everyone. I am Scott Mitchell Rosenberg, Chairman of the Board and Chief Executive Officer of Platinum Studios, Inc. As some of you probably know, I'm also Platinum's largest single shareholder.
"Thank you for your time and interest in joining this call. I am excited for the opportunity to share news concerning some of our current successes and future projects and plans."
John Rutledge: "Before you begin, Scott, we need to make sure we notify all of the listeners that this call includes forward-looking statements concerning Platinum's future expectations, projections of future operations and financial condition, and other "forward-looking" information. Platinum believes it is important to communicate its expectations; but, there are events in the future that it cannot accurately predict and over which it has no control. Our actual results as a corporation and the timing of certain events may differ materially from those anticipated in these forward-looking statements. All of the listeners should carefully consider these statements in light of these cautionary statements and all other information contained in our most recent reports with the SEC. With that in mind, Scott, let's begin the call."
Scott Rosenberg: "Thanks, John. As a fellow stockholder, you no doubt know that Platinum controls an international library of comic book characters. We adapt, produce and license these properties for all forms of media, including print, film, internet, mobile and wireless gaming and merchandising. One of those properties, "Cowboys & Aliens," has, according to boxofficemojo.com, now passed the $100 million box-office-receipts mark in North America and another $75 million internationally, for a $175 million world-wide total.
"We are thrilled at the continuing success of "Cowboys & Aliens" -- the movie and our graphic novel. Regarding the novel, Platinum has retained full rights to it -- with the exception of the feature film and certain television rights which, of course, are shared among DreamWorks, Universal, and Paramount. So, for example, Platinum can publish new comic books, produce games, sell toys and set up licensing deals that relate to the games and the novel. And we've had a lot of success doing so. Even with an extremely late green-light for the release of the movie (which made it particularly difficult to market our merchandise), we have been able to license development rights to a variety of formats, including iPod/iPad, Android, and several tablet devices, as well as feature phones and online interactive gaming.
"In the licensing industry, often the success of a brand is determined by what happens after a film's release. With "Cowboys & Aliens," several of the licensees expanded upon their initial plans after the film came out. Gameloft, the European company that distributes its games in over 100 countries and employs over 4,000 developers, first launched its "Cowboys & Aliens" games on certain feature phones ("feature" meaning not "smart") and, after the film's release, decided to start distributing on Android phones as well. I've actually downloaded it onto my phone, and I love it!
"Additionally, Mako Games was initially releasing the game just on the iOS platforms, including iPhone, iPad, and iPod and we've now allowed it to expand onto Android tablets.
"We've just announced a deal with Playtech, the world's largest publicly-traded online gaming software supplier, for "Cowboys & Aliens'" plots. This is our first gaming deal, and we're excited.
"The graphic novel, which was republished by Harper Collins, spent weeks on the New York Times' bestseller list both before and after the film's release. The book has been on both the soft and hardcover graphic books lists -- some weeks, simultaneously.
"Platinum has also licensed the story to Orbit Media Group, LLC to create "Cowboys & Aliens: The Kids," an interactive storybook application for all Apple iOS devices. We are very pleased that Orbit will make a donation from each sale of this storybook application to the global charity, Starlight Children's Foundation. And, we are pleased to inform you that Platinum is doing likewise.
"As you may have already heard, we are building a franchise plan around another of our books, "Atlantis Rising," and we're thrilled about other upcoming projects, including "Unique" at Disney (with "Harry Potter" producer David Heyman); "Vice" (with producer Andrew Lazar and Top Cow Productions, Inc.); a "hybrid" feature film project that will mix monsters and humans, "Nightfall" (with Bill Stuart, developer and executive producer of "The Rock").
"Platinum is also developing "MetaDocs" for television (with FremantleMedia and Landscape Entertainment). It's kind of a cross between "Grey's Anatomy" or "ER" and "Superheros." And, we are also working on "Gray Legion" with Robert W. Cort, who is the producer of "Three Men and a Baby," "Runaway Bride," "Mr. Holland's Opus") and dozens of other movies.
"Internally, Platinum has been aggressively restructuring our business to improve efficiency and lower overhead. In that regard, we have retained Rutledge Law Center LTD. to replace a lot of want we were initially doing in-house and to represent Platinum in its business and contract law matters. Rutledge Law Center LTD. is compensated for those services in restricted stock -- not cash. This has improved our short-term cash flow, is substantially improving our workflow, and aligns the corporation's operation with the long-term interest of us shareholders. Additionally, the corporation's number of authorized shares has been increased to allow us to strategically negotiate settlements with certain of the corporation's debtors (in addition, of course, to complying with requirements that enough shares be authorized to cover existing convertible notes).
"We are being strategic in our spending, and have substantially reduced our monthly overhead by a combination of reduced payroll and eliminating some independent contracting agreements -- and much of our balance sheet expenses represent stock warrants -- not money spent for office supplies, employee salaries or other similar costs. In that regard, please know we take seriously our position as fiduciaries to the corporation -- and we will continue make certain money is spent wisely."
John Rutledge: "Scott, would you like me to talk about the different board of directors members?"
Scott Rosenberg: "Yes, thanks."
John Rutledge: "I think that it's good information to know, for those listeners who don't know about each of the directors and their background. You probably already know Scott's bio. But, if you don't, feel free to Google him or go to platinumstudios.com. Scott is very active online, so feel free to send him a Facebook friend request. And, we ask, of course, that you "like" Platinum Studios and "Cowboys & Aliens" and our other properties on Facebook.
"Let's talk first about Mark Canton. Mark Canton has been a Director of Platinum Studios, Inc., since May 10, 2010. A little bit of background on him -- in 1985, Mr. Canton became Warner Brothers' President of Worldwide Theatrical Production. In 1991, Mr. Canton joined Sony Pictures Entertainment's Columbia Pictures as Chairman of the Board of Directors. By 1994, he became Chairman of the Columbia TriStar Motion Picture Companies with all creative, operational, and management responsibility for Columbia Pictures, Triumph Films, Sony Pictures Classics, SPE's international theatrical operations and Columbia TriStar's strategic motion picture alliances. During his time at Sony, he green-lit "Men in Black" for Scott. "Men in Black," as of most of you know, is based on the comic Scott published from his prior company, Malibu Comics. He later sold Malibu Comics to Marvel Comics, which is now owned by Disney.
Also during Mr. Canton's time at Sony, the company released such films as: "A Few Men," "Groundhog Day," "In the Line of Fire," "Bram Stoker's Dracula," "Bad Boys," "The Net," "The Professional," "The Fifth Element," "Jumanji," "Sleepless in Seattle," "Air Force One," and many more movies including initiating "I Know What You Did Last Summer," "Starship Troopers," "Zorro," "Godzilla," and "Stepmom." Since then, he launched Atmosphere Entertainment MM, an entrepreneurial venture to develop, produce and finance theatrical motion picture and television programming. Mr. Canton is presently developing new television projects at HBO, ABC, CBS, TNT and Lifetime. His recent films include "300," "Letters to Juliet" and the recently released "Immortals."
"The second director we'll talk about is Gerald Kline. He is an attorney licensed to practice in California, and has experience in strategic business development, private equity venture capital, mergers and acquisitions and the sales, marketing and merchandising of entertainment intellectual properties. Mr. Kline has been in private practice from 2008 to the present. Mr. Kline was a consultant to various companies from 2005 to 2008, including Platinum Studios. Prior to establishing his private criminal law practice, Mr. Kline was a Managing Director at the investment and consulting firm of Moore, Clayton & Co. from 2001 to 2003, and prior to that, he was director of licensing at a number of entertainment firms including Viacom Consumer Products, from 1991 through 2001.
"The third director is Adam Post. He is President and founder of LeadGrowth, a marketing company that outsources business-to-business products, and AVANT Media Group, which is a consumer-brand oriented intellectual property business focused on developing new properties for broad segments and segments with passionate consumer following. Mr. Post has been in charge of LeadGrowth since 2005. Brands that AVANT owns include Personality Comics. Personality Comics has featured biographical stories on Babe Ruth, The Beatles, Martin Luther King, Jr., Sean Connery, Marilyn Monroe, William Shatner and over one hundred others. Mr. Post sold to Platinum, in 2001, rights to the Triumphant Comics universe. With that, we have talked about each of the directors. Would you like to continue the call?"
Scott Rosenberg: "I am grateful to our board members and all of our Platinum staff and employees for their talent and creativeness, their dedication and loyalty. Platinum has the tremendous opportunity to position itself to become a leader in the creation of new content across all media. We deeply appreciate your faith in this opportunity for Platinum, and we will do our best to exceed your expectations of the corporation.
"I am also pleased to announce that Platinum just entered into a licensing deal with Brand Xpand to develop, operate and fulfill orders for dozens of "Cowboys & Aliens" themed merchandise through our website.
"As always, we welcome your comments and feedback. Our next call will be on January 3, 2012, to go over our business strategies for 2012 and share our management's expectations for the upcoming year. I invite you to email [email protected] with topics you'd like us to consider addressing during the January call. We are currently planning an annual meeting of the corporation's shareholders that we hope will be as fun as it is informative. More to come on that. Thank you for attending this call and being a loyal supporter of our developing corporation. Have a wonderful day."
About Platinum Studios
Platinum Studios (OTCBB: PDOS) is an entertainment company that controls one of the largest international libraries of comic book characters from all over the world, which it adapts, produces and licenses for all forms of media including print, film, online, mobile/wireless, gaming and merchandising.
For more information please visit http://www.platinumstudios.com.
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