The Movie Studio Inc (OTCMKTS:MVES) shares were up 55.79% to $0.0148 and flat in after-hours trading on Tuesday. The company has a market cap of $1.34 million at 60.78 million shares outstanding. Share prices have been trading in a 52-week range of $0.00 to $0.38.
The Movie Studio Inc is a motion picture production company that develops, manufactures and distributes independent motion picture content for worldwide consumption on a range of devices. It was formerly known as Destination Television, Inc., which is a broadcast media company that offers its custom content and entertainment-based programming for active consumers at away-from-home leisure destinations and has its own privately owned studio facility that is used to make films, which is handled by the production company.
In a press release yesterday, The Movie Studio Inc announced the execution of an agreement including Image Licensing and Music Video Agreement with Sade Serena, an Uprize Records recording artist. Under the terms of this agreement, the company licensed the non-exclusive rights in perpetuity to the single and hit music video “Dum” from the album “Jerk Sauce” for use in the motion picture and soundtrack of Bad Actress.
Aside from that, Sade Serena will make her acting debut in Bad Actress, playing herself and assimilating into the music video of “Dum” with Colombian film sensation Excelina. The worldwide release of this film is set for November this year.
We are excited about the integration and inclusion of Sade Serena, and her hit singles into the movie and soundtrack of Bad Actress. It is a symbiotic fit for the Bad Actress motion picture and soundtrack,” said Gordon Scott Venters, President and CEO of The Movie Studio Inc.
He added that with the success of Bad Moms, which featured Mila Kunis and Christina Applegate, and the release of Bad Actress and Bad Santa 2 later this year, shareholder equity and residual value could benefit.
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