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BUSINESS SUMMARY I. Objective
Iago Films LLC (the "Company") is a New York limited liability company that was created for the sole purpose of developing, financing, producing and exploiting one feature-length motion picture entitled I Will Avenge You, Iago! (the "Picture"). The Company is offering membership interests for sale. The owners of the membership interests will be entitled to share in profits from the exploitation of the Picture after recoupment of their initial investment. The profits from the exploitation of the Picture will be shared 50-50 between the Managers of the Company and the entire pool of investors, which is customary in this type of film equity-financing transaction. The Picture will be filmed on Digital Video (DV) format. The current estimated production budget of the Picture is approximately $200,000. The Company intends to cast the Picture with quality talent. The Company plans to offer deferred compensation packages to members of the cast and crew and to service providers, to keep the up-front cash production budget to a minimum. In particular, the writer/director/producer of the Picture, Zhenya Kiperman, and producer Anthony Grillo have chosen to defer their salaries for making the Picture. Certain casting and production opportunities may arise during the pre-production of the Picture that would justify slightly adjusting the production budget upwards. Nevertheless, in no event shall the production budget exceed $300,000. The company intends to earn revenue through the distribution and exploitation of the completed Picture. Revenue from distribution and other sources may provide a reasonable return on the investment of the investors (see IV. Industry Research and Projections for DV Motion Pictures).
1. Membership Interests in LLC/Units 2. Amount
When the Offering is funded, the Company intends to produce and arrange for the distribution of a single feature-length motion picture based on the screenplay entitled I Will Avenge You, Iago! written by Zhenya Kiperman. The Screenplay is based, in part, on certain material from the short story entitled "The Power of Art", written by Arkady Khait and Alexander Kurlyandsky (the "Short Story"). Zhenya Kiperman has obtained, on behalf of the Company, perpetual worldwide rights in all media to use and include the Short Story in the Picture and all derivations and exploitations thereof. A copy of the Screenplay is available upon request. The screenplay is registered with the Copyright Office and Writers' Guild of America. The Picture will be directed by Zhenya Kiperman. Mr. Kiperman has previously written, produced, directed and starred in a 30-minute film version of I Will Avenge You, Iago! The film was nominated for a National Student Academy Award and won several prestigious awards at American and European film festivals. A VHS copy of the short film is available upon request. You can also view Mr. Kiperman's Director's Statement. The Picture will be filmed by the award-winning Director of Photography, Wolfgang Held. Mr. Held is one of the most respected cinematographers in the New York independent film arena, with 28 feature films and documentaries shot on film and digital formats. The Company has developed a preliminary Shooting
Schedule. Most, if not all, of the filming will take place in New
York. Post-production (editing, mixing, etc.) will commence immediately
following the end of principal photography, and is anticipated to
last three (3) to five (5) months. This production schedule may
change depending upon a variety of factors, the most important of
which would be the professional availability of the talent.
Digital films is the most dynamically growing
kind of filmmaking today, with the Sundance Film Festival's Grand
Prize for Rebecca Miller's PERSONAL VELOCITY, the sensational $5
million sale of Gary Winick's TADPOLE to Miramax, and George Lucas'
recent all-digital Star Wars Episode, ATTACK OF THE CLONES. Shot
for a few hundred thousand dollars, digital features are being acquired
by all existing film markets (theatrical/TV/video/DVD/internet),
and are rapidly creating new markets of their own. Thus, New-York-based
Emerging Pictures (http://www.emergingpictures.com)
is currently building a national network of satellite-fed digital
cinemas, with the goal of taking on 300 screens over the next three
years (The Hollywood Reporter, July 17, 2002; http://www.emergingpictures.com/thre0717.pdf
) The following six films were all shot on digital formats with the approximate budgets of $300,000 each: TADPOLE Sold to Miramax for $5 million - All World Wide Rights, including theatrical/TV/video/DVD markets.
Sold to the United Artists for $850,000 - only North American rights, only theatrical (not including TV/video/DVD markets).* * The information on the foreign sales and TV/video/DVD sales of PERSONAL VELOCITY, CHELSEA WALLS, FINAL, TAPE and TEN TINY LOVE STORIES is not disclosed.
Sold for $500,000 - only North American rights, only theatrical (not including TV/video/DVD markets)
Sold for $500,000 - only North American rights, only theatrical (not including TV/video/DVD markets) Sold for $500,000 - only North American rights, only theatrical (not including TV/video/DVD markets)
Sold for $500,000 - only North American rights, only theatrical (not including TV/video/DVD markets)
All Foreign territories/markets - up to $1 mln.* * We believe that I WILL AVENGE YOU, IAGO! is likely to generate a substantial interest from European distributors. Its sensibility is very similar to Woody Allen's films, which usually do very well in Europe. The strong commercial elements of I
WILL AVENGE YOU, IAGO! are:
Director's Statement(March 2004. Before the Shoot) I Will Avenge You, Iago! was initially a 30-minute comedy, that I wrote, produced, directed and starred in while at Columbia University Film School. The film was nominated for a National Student Academy Award and won several prestigious awards at American and European film festivals. This success inspired me to develop it into a feature length script, adding to the central story of the great Performer and impressionable Audience Member, a few other stories which also celebrate the gift of Acting. A great stage performance almost costs Jack Bandrowsky his life; an inspired backstage performance saves him. His actress wife Helen learns about his affair, but there is no mistress, just a brilliant con woman. In the next act, Helen leaves him for the director of her theater, who makes her pregnant, takes her off stage, and cheats on her with an H.I.V. positive actor. Helen breaks down and kills herself… but this act is just an in-house rehearsal of a new play! There are family dramas and farces, love and adultery, a pretended suicide and real murder, "Otello" on opera stage and "Hamlet" in a prison theater. It's funny, heart-breaking and never predictable. Its sensibility has much in common with Woody Allen's Bullets Over Broadway and Tom DiCillo's independent classic Living in Oblivion which also was born as a 30-minute short. I firmly believe that the script will attract
fine actors. It has fascinating characters and good stories with
humorous turns and dramatic twists. I spent a year writing it, and
another year making it better. And I am convinced that it will become
an enjoyable and successful movie.
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