ATLANTA, GA--(Marketwire -12/06/11)- Entertainment Arts Research Inc. (Pinksheets: EARI.PK - News) (www.earigames.com) a facilities-based game design and development publishing digital media company, release the following business update to shareholders.
The Company continues to focus their efforts on growing existing markets, identifying additional market opportunities, product development and reducing expenses. Management believes that in spite of difficulties in the current economic environment there are ample opportunities for future economic growth and corporate prospects remain excellent. At this time prospects for capital formation are best served by continued emphasis on growing the business and strengthening the balance sheet.
In response to this statement, Entertainment Arts Research Inc. (EARI) has implemented material events designed to expedite the accomplishment of these objectives. Twilight 22 Studio, Striate Gate Games and Entertainment Arts Research Maandi Digital Campus joint venture as separate corporations domiciled in the state of Nevada and Georgia. By establishing Entertainment Arts Research Maandi Digital Campus as a separate entity, significant cost savings were achieved, as well as enhancing the opportunity to attract direct investment into the new entity.
Additional actions were taken by Entertainment Arts Research Inc. to provide maximum flexibility in using the capital structure of the treasury to restructure management, operations, and investment.
Entertainment Arts Research Inc. has structured a joint venture noted as Entertainment Arts Research Maandi Digital Campus, headed by Joseph Saulter and Winston Johnson. Mr. Saulter and Mr. Johnson intend to develop a new Digital Campus where animation, sound design, application development, and game development will be facilitated for Entertainment Arts Research Inc.:
A 4 Acre complex comprising Digital Distribution, Broadcast Center, Super Computer Lab, Customer Digital Life Support Center, EARI Home Entertainment, EARI International, EARI Institute, EARI Music, and EARI Publishing.
In addition to facilities development, the Joint Venture will provide financial, advisory, and management services on all phases of the audit and financing process, as well as working with an Atlanta based CPA and audit firm to complete the 2010 and 2011 annual report and 2011 first, second, and third quarter report's.
On November 21, 2011 Joseph Saulter became Chairman and CEO of Entertainment Arts Research Inc. Another significant milestone was the appointment of an interim Director of a three man Board of Directors to be nominated and voted upon at the next board meeting of Entertainment Arts Research Inc.
The stage is set for the exponential growth of Entertainment Arts Research Maandi Digital Campus products and services.
"Entertainment Arts Research Inc. is aggressively pursuing actions that should offer encouragement to shareholders and the investment community," said Joseph Saulter, Chairman and CEO of Entertainment Arts Research Inc. The Entertainment Arts Research Maandi Digital Campus Joint Venture has implemented steps that increase the value of Entertainment Arts Research Inc. As a consequence of these efforts we believe the two companies will allow the market to more accurately assess the value of our assets and market opportunities. "We continue to build our legacy and work aggressively toward that end," said Mr. Saulter.
About Us - Entertainment Arts Research Inc.
Entertainment Arts Research Inc. is a Game Design, Publishing and Interactive Media company. Statements in this press release are certain statements which are not historical or current fact and constitute "forward-looking statements" within the meaning of such term in Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that could cause the actual financial or operating results of the company to be materially different from the historical results or from any future results expressed or implied by such forward looking statements. Such forward-looking statements including, but not limited to, our aggressively focus on customer growth and leveraging its relationships with major corporations into revenue growth opportunities, based on our best estimates of future results, performance or achievements, based on current conditions and the most recent results of the company. In addition to statements which explicitly describe such risks and uncertainties, readers are urged to consider statements labeled with the terms "opportunity," "believes," "belief," "expects," "intends," "estimates," "anticipates" or "plans" to be uncertain and forward-looking. The forward-looking statements contained herein are also subject generally to other risks and uncertainties that are described from time to time in the company's reports and registration statements filed with the Securities and Exchange Commission. Consequently, all of the forward-looking statements made in this press release are qualified by these cautionary statements and there can be no assurance that the actual results anticipated by the company will be realized or, even if substantially realized, that they will have the expected consequences to or effects on the company or its business or operations.
- Joseph Saulter
Entertainment Arts Research Inc. Investor Relations:
770.319.1384 ext. 279