FT. LAUDERDALE, FL — (Marketwired) — 02/17/15 — (OTC PINK: FONU) (OTC PINK: FONUD) announced today it has acquired the worldwide distribution rights for the movie Yellow. The movie is written and directed by Nick Cassavetes (The Notebook, The Other Woman…), and stars Heather Wahlquist (Alphadog, The Notebook…), Sienna Miller (American Sniper, Foxcatcher…), Melanie Griffith (Working Girl, Bonfire of the Vanities…), Ray Liotta (Goodfellas, Terminator 2…) and others.
Under terms of the agreement, FONU2 will receive a ten percent distribution fee, and a twenty percent 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 $540,000 of costs associated with the movie.
Roger Miguel, Chief Executive Officer of FONU2, stated, “Yellow has the potential to become an instant cult classic. Upon release of the movie, we expect to generate healthy profits from our distribution agreement, which can be reinvested in future projects. We anticipate announcing the confirmed dates for the movie–s US theatrical release in the very near future.”
Jake Shapiro, Chairman of FONU2, added, “The release of Yellow is a very important milestone for the movie, FONU2, and Moon River Studios. As Moon River realizes the funds from the distribution of the movie, it will use the funds to pay off the liabilities associated with the movie and Moon River. We anticipate once this is completed, all excess funds will then be distributed via a dividend to Moon River shareholders.”
FONU2 is a film production and social commerce company that is developing 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. For additional information, visit our website, . You can also follow us on our social network, , and .
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Fonu2 Corporate Relations
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