And just like that, It’s the last quarter of 2022.
As I reflect on this year, one thing is clear: being the CEO of
As we can all attest, COVID-19 came as a shock to all of us. With nearly every industry experiencing some sort of impact, the pandemic was a true test for our organizational strength. A trial by fire.
On a personal level, my family and I were not spared the ravages of COVID-19 but have since recovered. We pray that all of you and your families have stayed safe and otherwise recovered as we can—hopefully—put the worst part of the pandemic behind us.
Our shareholders' patience and unyielding support has been an incredible driving force for us. Your encouragement instilled the confidence in our talented team that’s allowed us to strive towards excellence across our business verticals.
Of course, it’s impossible for the share price to always reflect the strength of the underlying company, or the daily commitment to success. As the legendary investor
“In the short run, the market is a voting machine but in the long run, it is a weighing machine.”
With Buffett’s usual folksy charm, he’s alluding to the fact that any given day, a stock’s share price can bounce around based on the whims of the market. But over time, the market “weighs” a company based on its underlying merits. Results like growing revenues, cash flows, and profits.
Speaking of which…
Despite the pandemic’s challenges, we experienced significant growth during the last two years. Every success and every milestone is a reflection of our shareholders’ and employees’ faith in our mission.
Our company has scaled in every vertical, and we’ve enjoyed growth in net assets, net income, and revenues. None of this growth would have been possible without our partners, clients, and employees, to whom we extend our gratitude.
We will continue to carve our niche within the industry, as going public gave us the financial backing and flexibility to help differentiate us from our competitors. This outside validation served as the critical steppingstone we needed to pursue larger goals and make a lasting impact for our stakeholders.
Our company’s philosophy has always been, and will continue to be, results oriented. Rather than the industry standard of companies pursuing their own agenda and not servicing their customers, we will align our interest with that of our niche customers.
We will demand excellence, not mediocrity, from all our employees so as to service our customers to the best of our abilities. The steps our company has taken during these unprecedented times have been unprecedented in my decades long career. To that end, let’s drill down for a deeper look at each division within
Updates on Recent Material Progress Across Our Company
Dilution
In June of 2021, our Regulation A was qualified. In March of 2022, we extended that raise and, although we realize how this may seem like a step backwards, some level of dilution is a necessary evil for a growing company with capital needs. Dilution—and the subsequent raising of capital— is an important element so that the company can grow. It was our need for growth that prompted us to continue our capital raise. In our opinion, every dollar of capital raised that is used for corporate purposes, has the potential to provide exponential returns. Once sufficient capital has been raised to fund our several initiatives and projects, we will immediately cease dilution. Furthermore, if and when our various ventures are successful, we can institute a share buyback program to retire shares that we feel are undervalued, thus increasing shareholder value.
Sumer Technology
We also expanded our presence into the tech space when we acquired an equity stake in
We anticipate that once launched, this app will be highly successful with celebrity investors. We have subsequently sold our stake in Sumer for five times the amount we paid to another publicly traded company.
American Basketball Association Canada, Hollywood Action, and Beverly Hills Majestics
The company executed a share purchase agreement to purchase the American Basketball Association in early 2021. Since the negotiations had become lengthy with some unresolved issues, we amended our focus by purchasing ABA Canada. This gives us majority ownership and exclusivity on all ABA activities in
Once the teams in these main territories are established, we will continue to pursue teams in other areas.
We also signed an ABA Team Reservation Agreement to launch a professional basketball team in
VE Gaming
In late 2021,
We have many exciting plans in the works for VE Gaming to become a triple-A gaming studio, on par with publishing and development teams like Activision, Rockstar, and Epic Games. We have begun development on a high-level basketball video game which will compete with best-selling franchise, NBA2K. This game will feature some of the same legendary characters as featured in the FOTS NFT gallery and will be available on all major gaming platforms - PC and gaming consoles.
VE Gaming has also engaged the game studio, Robot Sea Monster, to develop a slate of Web3 and mobile games. Robot Sea Monsters is set to dedicate over 200 pre-production hours and 500 production hours to launch our basketball game onto various technological platforms quickly— without compromising quality.
Further, we have already completed production on the demo for Roo Awakening. We are continuing development of several other gaming properties that we are confident will bring excitement to the gaming world as well. Stay tuned for future updates.
Shedding of Debt
In an effort to clean up and tighten the balance sheet, the company shed a significant portion of its convertible debt. As CEO, and a significant debt holder, I agreed to forgive all of my convertible debt to increase the profitability position of the company and to make the balance sheet significantly stronger.
This new initiative was reflected in the
Along those lines, we’ve wrapped production on the pilot for Ambush Karaoke. Ambush Karaoke was directed by industry veteran and former American Idol producer,
We’ve also completed production of our horror movie, The Knock. This completion marks our first film with
To add to the good news on the film front, we entered into a groundbreaking film development deal with the iconic New Republic Pictures and its founder, the renowned film producer,
In January, we entered into a second film development agreement with New Republic Pictures to produce the long-awaited biopic on
Expanding on the already lucrative relationship with Biolase Inc.,
- Adios Amigos (1976):
- Adventures of Huckleberry Finn (1953):
Black Brigade , aka Carter's Army (1970):- Callie and Son (1981):
- Fists of Fury (1971):
- Ginger in the Morning
- Great American Tragedy (1972):
- Gulliver's Travels (1939):
- Nuclear Run (1980):
- Revenge of Doctor X (1970):
- Swamp Thing (1982):
Under the terms and conditions of the asset acquisition,
“Fists of Fury”
Since our acquisition of those popular and critically acclaimed titles above,
Lee’s directing credits include award-winning “A Dark Truth” starring
Moving along on our slate of projects, our hit comedy show Laugh At LA has been completed. The show is 12 episodes of stand up and sketch comedy featuring a solid lineup of stand-up comedy’s finest including,
Finally, as we announced in September,
ANI
Fungy
After a rigorous developmental process, we are thrilled to announce the launch of Fungy, the “Beta version” of our NFT marketplace. Fungy allows artists and creators to issue, buy, and sell custom digital assets representing ownership of their digital work. Fungy is both a marketplace for those assets and a distributed network built on the Polygon blockchain, enabling trade without a middleman.
A significant amount of development is being put into the marketplace. One of our primary points of emphasis is security and authenticity of NFT’s. To this end, we are taking measures to ensure that user information is extremely safe by having back up servers and security protocols. Additionally, when it comes to NFT protection, our engineers have designed safeguards to detect fraudulent and stolen NFTs. There are many exciting updates and developments coming for Fungy in the coming months.
Recent reports illustrate a resilient surge of interest in the NFT and crypto experience, despite recent downward volatility. Venture capitalists and angel investors have shown massive confidence in the sector by pouring billions of dollars into digital currency and blockchain start-ups. Thanks to its unique approach and marketplace, Fungy has already received worldwide interest that will crossover into the new year.
Roccstar
After naming
The company acquired an equity stake in
NDE’s raise—seeking funding of up to
New Addition
We have appointed
EB5
In 2021 we signed an agreement with EB5AN to sponsor our film slate for funding through the EB5
ACQUISTIONS
Knowing how important it is to scale our company, we have targeted several potential companies to acquire. Throughout the course of 2023, we anticipate several acquisitions that will not only bolster our asset base, but will assist with the growth of subsidiaries we currently own and control.
A few other areas we feel necessary to devote time, attention, and resources to are the formation of a strong and credible Board of Directors and rounding out our C Suite team.
Conclusion
We believe that when a company acts in the interest of its employees, customers, communities, partners, and shareholders—in other words, all stakeholders—that company is destined to succeed.
As our shareholders, and anyone else reading this letter, we hope that you appreciate and are proud of the tremendous effort and abilities of our constituents, especially in light of our considerable growth against the backdrop of a global pandemic that decimated many industries.
Thank you for your support, and I look forward to delivering many more material updates on our progress in my next letter.
Warmly,
CEO
PS – We’ve added a way for you to stay in touch with us quickly and easily. Simply navigate to www.valianteagle.net and at the top of the page, enter your email and phone number. This will allow you to receive our latest company and shareholder updates as they’re released, as well as make you eligible for exclusive ticketing events for movie premiers and behind the access and drawings.
About
Investor inquiries: ir@valianteagle.net
Website: www.valianteagle.net
Twitter: @valianteagleinc
Facebook: @valianteagleinc
Legal Notice Regarding Forward-Looking Statements:
This press release contains forward-looking information within the meaning of Section 27A of the Securities Act of 1933 and section 21E of the Securities Exchange Act of 1934 and is subject to the safe harbor created by those sections. This material contains statements about expected future events and/or financial results that are forward-looking in nature and subject to risks and uncertainties. That includes the possibility that the business outlined in this press release cannot be concluded for some reason. That could be as a result of technical, installation, permitting or other problems that were not anticipated. Such forward-looking statements by definition involve risks, uncertainties and other factors, which may cause the actual results, performance or achievements of
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