What Is Going On With Broadside Enterprises, Inc. (OTCMKTS:BRSE)?
Broadside Enterprises, Inc. (OTCMKTS:BRSE), formerly named Emaji, Inc. reported that FINRA has agreed to its name and ticker change in order for the firm to re-brand itself to showcase new leadership, strategic plans and the corporate acquisition reported last week.
Broadside Enterprises confirmed on the acquisition of 86.6% of the outstanding shares of Framepool AG, a firm with three operating subsidiaries firms in the U.S., the United Kingdom and France and personnel in Munich, Los Angeles, London, Paris and New York. Framepool collects, prepares and selects premium video footage from commercial film, TV or movie producers and sells licenses to its surging library of more than one million clips to its 3,500 active clients, among them the most important advertising agencies, film studios, production and broadcasters firms.
It also offers indemnification and rights clearance services, has started offering production facilities for footage intensive documentaries and is stirring into the authorizing of stock photography. The company intends to consolidate Framepool’s financials from 4Q2016. The firm plans to continue to move rapidly using organic growth and additional corporate deals.
With three operating subsidiaries in the United Kingdom, the United States, and France, and a headcount of 8 part‐time and 19 full‐time employees, Framepool is faring well. In addition to Munich, the entity has staff in New York, London, Paris and Los Angeles. The firm’s online presence comes in the top 60,000 websites globally and has almost a million monthly page views.
The acquisition was funded through a combination of non-convertible debt and cash. As part of the deal, Broadside has committed to offering considerable additional funds to Framepool going forward. This deal represents the initial measure towards the execution of an international growth strategy. Additional measures that were in negotiation have been completed.
In the last trading session, the stock price of Broadside Enterprises gained over 1% to close the day at $0.0003.© Copyright 2016 OTC News Magazine. All rights reserved.