Investment in Film Library

6 Months Ended

Jun. 30, 2011

Investment in Film Library

(5) Investment in Film Library

As of June 30, 2011 and December 31, 2010, the investment in film library of $4,423,692 and $9,449,207, respectively, is related to the “Dead of Night” production, a completed film and is net of amortization of $5,025,515 and $0, respectively. The film was released theatrically in Italy on March 16, 2011 and in the United States on April 29, 2011. The majority of the remaining foreign territories were available for release upon the United States release date. During the six months ended June 30, 2011, the Company recognized $5,495,279 of revenue upon the availability of the film in all of the territories and the theatrical release in the United States.  The balance of the remaining ultimate revenues and unamortized costs of $4,423,692 should be principally amortized during the third and fourth quarters of 2011.