Stakeholder Conference Calls recap
It was great to talk with everyone today on our two different calls. If you didn't have time to call in, we will post a recording of the first call online so you can listen to it. Here are some highlights of the call:
The screenplay is finished. I am extremely happy with it. It is beautiful and powerful.
The screenplay will continue to be revised as we move forward, even up to the day we shoot but we are really excited that the story is all together now!
We are now working on Copyright registration and Writers Guild registrations.
We are going to put together a "table read" where we bring in actors and they read the script. This is great to help refine the script. It will make us aware of sections that may need work.
All investors/partners are invited to attend the table read. This will be the first opportunity to hear the story first hand. We will also be inviting potential Class B investors as well, as a way to introduce them to the up coming Class B Offering.
We want to plan the table read for January. Date and time TBD.
We are now revising the business plan based on the story that has now been created. We are working on a shooting schedule which will lead us to a line itemed budget which will lead us to complete financial projections. All this will be integrated into the finalzyed prospectus. We anticipate all this being completed in January.
The Class B Offering start date will be set once we have the prospectus complete and ready to go.
We recapped some of the potential Class B funding sources and also discussed the Tax Reform bill that was passed the very morning of our call. The bill's tax repatriation provision will bring trillions of dollars of off shore profits back to the US and we have begun talking with one particular group who has plans to manage some large amounts of investment capital from the repatriation. They have approached our company about being involved in an Entertainment Fund they are supposed to be setting up. PanZareta is well positioned for this and the timing is great.
While there seems to be lots of opportunity with larger investors like the Fund, Chickasaw Nation, etc, we still feel it's very important to cast the net widely and work toward smaller investors as well. So once again we are asking people, "who do you know?"
The tax bill also expands the film production deduction. Any money invested in a film can be fully deducted from the investors income in the year of production. So if a person is at the top new tax bracket of 36% and had to pay tax on $1,000,000, they would owe the. IRS $360,000. If they invest those funds in a movie then they would pay nothing in taxes which discounts the basis for the investment.
Also, we will be able to receive 20% of the budget back through film incentives. That's another $200,000 per $1,000,000 invested on top of the tax savings. So in the right situation, the investment basis is discounted by 56%. This of course works for even $100,000 investments or whatever amount. Taxes would still have to be paid on profits from the film down the road.
Everything is getting very exciting. The screenplay is powerful. We have lots of momentum heading into 2018.