Fulucai Acquires Movie Production Rights
Fulucai Productions Ltd. has entered into an agreement with its President, James Durward, whereby FuLu has acquired all rights to the intellectual property known as “All the Wrong Reasons” as registered with the Writer’s Guild of America Registration Number 1533357. The Production is based on a feature-length movie script that was written by James Durward.
FuLu will be responsible for re-imbursement of production costs to date, which costs are estimated at approximately $2,000.00, as well as ongoing production expenses. Principle photography has commenced and ongoing production costs of this low budget feature are expected to be less than $10,000.00. FuLu maintains an in-house production facility and the completed product is expected to be delivered in mid-2012.
Upon delivery of the completed product, FuLu plans to submit the Production to a variety of film festivals world-wide in attempt to have it picked up for distribution. No such distribution arrangements exist at this time and the terms and conditions of any such a distribution deal, if reached, are unknown.
In return for the Rights, FuLu has agreed to pay James Durward a 20% gross overriding royalty on any and all worldwide revenues generated by, or derived from, the Production.
FuLu’s first production, The Real Deal, has not yet achieved any distribution or production agreements and FuLu does not plan any subsequent series of The Real Deal until such time as The Real Deal is subject to a distribution or production agreement.
