ACCESS Newswire
16 Aug 2022, 18:07 GMT+10
BAY HARBOR, FL / ACCESSWIRE / August 16, 2022 / American Films, Inc. (OTC PINK:AMFL) ('AFI' or the 'Company') today announced that it has redeemed 13,421,000 shares of its common stock, which will reduce its total shares issued and outstanding by approximately 20%. Additionally, the Company has reduced its legacy debt balances by over $1.2 million, or approximately 68%, since fiscal year end 2021.
AFI's Chief Financial Officer Jamie Warren said, 'Considerable focus over the past several months has been placed on transitioning AFI's financial position to more healthy capitalization levels. This activity strengthens the Company's balance sheet and drives value for our shareholders.'
'The management team's key focus is on maximizing value for AFI's shareholders as we deliver on the Company's global strategy around IP protection and monetization,' said Geoff Lee, President and Chief Executive Officer of AFI. Lee added, 'This material debt reduction and share redemption is a positive development for the Company as it moves into its next phase of growth.'
About American Films
American Films owns, develops, and acquires intellectual property, which it seeks to monetize at higher rates through proprietary technology, litigation, and asset digitization. Its unique proprietary processes and technology include FACTERRA, a web-based evidence gathering program that identifies instances of copyright infringement and allows American Films to pursue intellectual property protection litigation on behalf of copyright owners. American Films supports the creative process and protects intellectual property in the film and music industries. For more information, visit https://americanfilms.us/.
American Films Media Contacts
Tom Murphy
(508) 579-4716
[email protected]
Follow American Films on:
LinkedIn
Twitter
Facebook
SOURCE: American Films, Inc.
Get a daily dose of Chicago Chronicle news through our daily email, its complimentary and keeps you fully up to date with world and business news as well.
Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Chicago Chronicle.
More InformationLONDON, U.K.: Physically backed gold exchange-traded funds recorded their most significant semi-annual inflow since the first half...
AMSTERDAM, Netherlands: Some 32 percent of global semiconductor production could face climate change-related copper supply disruptions...
NEW YORK, New York - U.S. stocks rebounded Tuesday with all the major indices gaining ground. Markets in the UK, Europe and Canada...
NEW YORK CITY, New York: Financial markets kicked off the week on a cautious note as President Donald Trump rolled out a fresh round...
RIO DE JANEIRO, Brazil: At a two-day summit over the weekend, the BRICS bloc of emerging economies issued a joint declaration condemning...
LONDON, U.K.: This week, BP appointed Simon Henry, former Shell finance chief, to its board as a non-executive director effective September...
WASHINGTON, D.C.: An elaborate impersonation scheme involving artificial intelligence targeted senior U.S. and foreign officials in...
(Photo credit: Ed Szczepanski-Imagn Images) The Los Angeles Dodgers will attempt to stabilize their dwindling National League West...
(Photo credit: Jesse Johnson-Imagn Images) Former major league manager Lee Elia died on Wednesday, a week before his 88th birthday,...
(Photo credit: Kirthmon F. Dozier / USA TODAY NETWORK) Joe Coleman, the No. 3 selection in the first Major League Baseball draft...
(Photo credit: Jeff Curry-Imagn Images) St. Louis Cardinals starting pitcher Miles Mikolas will seek to get his season back on track...
(Photo credit: Kamil Krzaczynski-Imagn Images) The Chicago White Sox certainly would like to start a long winning streak of their...