Somerville, NJ -- June 20, 2023 -- InvestorsHub NewsWire
-- Authentic Holdings, Inc. (OTC
PINK: AHRO) has completed the acquisition of Goliath Motion
Pictures Promotions. Chris H Giordano, President and Chairman of
Authentic Holdings, Inc., stated, "The acquisition of Goliath
Motion Pictures Promotions represents a
strategic corner of the puzzle in Authentic Holdings, Inc. building
a substantial media and merchandising company. Goliath has been
building its massive catalogue for 17 years. It includes over
15,000 full length movies and serial television shows from every
genre starting from the 1940s through 2021. In addition to now
having a large library of movies we will continue to add hundreds
of movies each month to increase the depth and breadth of the
Goliath Motion Pictures library for its upcoming monetization in
the very near future.
Now that we have acquired this extraordinary library, it is time to
breathe new life into all of these titles by "tokenizing" the
entire catalogue. This will not only keep them secure but
allow us to create a substantial opportunity for distribution to
movie lovers around the world. Tokenizing will allow us to
distribute Goliath's content to platforms not only here in the US
but also overseas without risk of piracy and payment for services.
The library will also provide Maybacks Global Entertainment
Network, our earlier acquisition, with an enormous amount of
additional programming. In addition, it will also create a
potentially massive opportunity in another market vertical. With
that market vertical presenting itself right now we will now start
creating the necessary Smart contracts and Apps for both the "Smart
TV" market and the iOS and Android platforms. The Apps will be
created for servicing both the Video on Demand ("VOD") markets and
the "Linear Television" markets your traditional "scheduled
programming" type television. Maybacks Global already has a
relationship with several Smart TV manufacturers that have added
the Maybacks Global Entertainment App to over 50,000 Smart TVs to
date which will allow us the advantage of familiarity with the
manufacturers when it comes time to load our VOD service along with
Maybacks network programming.
We expect to have the App completed for both Smart TVs and the iOS
and Android markets done in approximately 6-8 weeks and expect to
do a soft launch via test market by the end of August. The VOD
market has experienced stellar growth and is still expected to grow
rapidly over the coming five years industry-reports/video-on-demand-market
. Authentic expects to aggressively market its Goliath catalogue
wherever opportunities present. We will start marketing both our
planned VOD and linear platforms in late September of 2023 to both
domestic and overseas audiences where we expect to charge a very
small monthly access fee for unlimited access.
Lastly, the acquisition of Goliath was done without any up-front
dilution to shareholders. The Company issued 100,000 shares of a
SERIES D $50 Preferred which is non-convertible for a period of
three years. In addition to putting a $5.3 million dollar asset on
our balance sheet the potential income to be derived from the
catalogue is enormous for Authentic and its shareholders.
With the second acquisition in two months now completed it should
be quite apparent that Authentic Holdings, Inc., fully expects to
combine organic growth with an aggressive acquisition strategy in
its attempt to create a standout company in Media and Merchandising
market. We are also in the final stages of negotiations to either
"exclusively license" or purchase a music catalogue of 10,000+
Master Recordings which if acquired or licensed will allow us to
first tokenize and then monetize these assets through sales of
records and/or Limited-Edition music NFTs.
We look forward to our next communication with you, our
shareholders. Please feel free to contact us with any
questions you may have regarding the acquisition of Goliath Motion
Pictures Promotions or any other
general questions you may have.
SAFE HARBOR
ACT
Forward-Looking Statements: This release contains statements that
constitute forward-looking statements within the meaning of Section
27A of the Securities Act of 1933, as amended, and Section 21E of
the Securities Exchange Act of 1934, as amended. These statements
appear in a number of places in this release and include all
statements that are not statements of historical fact regarding the
intent, belief or current expectations of Authentic Holdings, Inc,
its directors or its officers with respect to, among other things:
(i) financing plans; (ii) trends affecting its financial condition
or results of operations; (iii) growth strategy and operating
strategy. The words "may," "would," "will," "expect," "estimate,"
"can," "believe," "potential" and similar expressions and
variations thereof are intended to identify forward-looking
statements. Investors are cautioned that any such forward-looking
statements including those relating to the Company's financing
being adequate for the Company to place its products in retail
stores, execute its acquisition strategy, and to launch its growth
and expansion plans, among others, are not guarantees of future
performance and involve risks and uncertainties, many of which are
beyond Authentic Holdings, Inc's ability to control, and actual
results may differ materially from those projected in the
forward-looking statements as a result of various factors. No
information in this press release should be construed in any way
whatsoever as an indication of Authentic Holdings, Inc.'s future
revenues, financial performance, or stock price. More information
about the potential factors that could affect the business and
financial results is and will be included in Authentic Holdings,
Inc, filings with the Securities and Exchange Commission
at
www.sec.gov.
SOURCE: Authentic Holdings, Inc