Following an early morning announcement to shareholders, Mike The Pike Productions enjoyed a midday gain of nearly 80% before settling down to a massive day of trading. Volume today reached 205 million shares for a company that averages 30 million.
For those unaware, Mike The Pike specializes in the finalization of feature films, sales and distribution of feature films, development of feature films and graphic novel properties. CEO and Producer Mark B. Newbauer shared an outline of the company’s overall progress in a number of these areas, and it was his announced Q2 debt and share reduction results that spurred the gain.
On May 23, 2012, Mike The Pike reduced the amount of outstanding shares by nearly 50%. This reduction specifically involved the lowering of Authorized Shares from 5 billion to nearly 2.6 billion. Between June 11 and June 29, 2012, the company further lowered this number to 2.2 billion. All said and done, this amounted to a reduction of 50% of its Authorized Shares and 13.5% of its Outstanding Shares in Q2.
As to its overall debt, Mike The Pike cut nearly a third of its combined current and long-term liabilities from nearly $1.6 million to $910,042.
But for those who invest in production companies, the real fun is hearing about present projects that could become the home run that all similar companies strive to obtain, and Newbauer didn’t disappoint.
Newbauer told shareholders that the company has received a number of unsolicited inquiries from both foreign and domestic distributors for their sci-fi thriller, “White Space”, which is currently in post-production.
Mike the Pike also announced that it had recently optioned the rights to “The Skin Trade”, written by George R.R. Martin, the best-selling author and man behind the successful HBO production “Game of Thrones”.
Graphic novels present a huge upside potential and remain a large part of Mike The Pike Productions. Today it shared that along with its partner, Spoke Lane Entertainment, its intention to publish no less than three books this year, including a blood curdling thriller “R.E.M.”, a child-friendly fantasy “Bulderlyns” and a non-traditional murder mystery “Chasing Rabbits”.
Investors should take note of Mike The Pike Productions as an investment opportunity with an upside matched equally by its downside. A rule of thumb for the investment in production companies: Never invest a dollar more than you are prepared to lose. Few become the holders of a breakout hit, but when they do, a single day’s gain on these announcements can reach into the thousand-percent arena.
For consideration of being featured on WallstreetPR, contact: Editor@Wallstreetpr.com