WRIT has been bouncing around near its 52 week low of $.0005. The stock closed at $.0008 on Friday and I think the stock will puts in a nice 100% rally from current prices. Why? The selling that brought the stock to $.0005 has slowed, and since November 2011 the accumulation has been building according to stockcharts.com.
Should the stock rally the first line of resistance lies at $.0012 and then $.0019. If the stock can break those levels a move to $.003 and better could be in the cards.
Always do your research before buying a penny stock like WRIT. It trades at $.0008 for a reason, usually dilution. However when that dilution stops and/or slows the stock can see a strong counter trend rally. I think that is what we will see with WRIT in the short term.
Business Description
Front Row Networks is a content creation company which intends to produce, acquire and distribute live concerts in 3D for initial worldwide digital broadcast into digitally-enabled movie theaters. This new concept is intended to present live concerts in 3D, at lower ticket prices, to a massive fan base worldwide in a cost-effective manner.
LOS ANGELES, Jan. 16, 2013 /PRNewswire via COMTEX/ -- Writers' Group Film Corp. (OTCQB: WRIT) through its wholly-owned subsidiary Front Row Networks, Inc. a Los Angeles-based concert production and distribution company, announced that it has entered into a deal with UK based, Mark Blundell Partners Ltd. The deal sees Mark Blundell Partners (MBP) working with Front Row Networks to identify and deliver content sponsorship opportunities, live event marketing and distribution deals for a range of high profile music content from leading international artists.
MBP will focus on international market opportunities across digital platforms and live environments and to take advantage of the growing opportunities and interests in 2D and the emerging 3D content, for a range of live music rights from major artists, back catalogue and future live events.
"Our network of broadcast and digital distribution partners coupled with our long-established, talent marketing capabilities, positions us extremely well to take advantage of the growing demand for live music content in the 2D and emerging 3D space. We also look forward to working with Front Row Networks to build a strong brand and consumer following for live 3D music events," stated Mark Blundell, Chief Executive Officer and Founder of MBP.
"The experience of the executive team at MBP with regards to sports branding and brand management will enhance the value of our upcoming projects by positioning Front Row Networks' product with instantly recognizable global brands. These brand associations will help position Front Row Networks at the forefront of the new 3D media revolution," said Eric Mitchell, President of Writers' Group Film Corp.
The current worldwide phenomenon surrounding 3D, combined with the strong-performing live concert business, presents a unique opportunity for Front Row Networks to provide an inexpensive, state-of-the-art, live 3D concert experience to anyone, anywhere in the world.
Front Row Networks is a live concert production and distribution company which produces live concerts in 3D for initial digital broadcast into movie theaters in North America. Following their theatrical run, the films are then licensed to US and international broadcasters, pay channels, PPV markets, DVD and Blu-Ray distributors, and sold on the internet as downloads.
Cautionary Note Regarding Forward-Looking Statements
Statements in this press release regarding the company's business that are not historical facts are "forward-looking statements" that involve risks and uncertainties. The company wishes to caution readers not to place undue reliance on such forward-looking statements and as such, speak only as of the date made. Investors are cautioned that all forward-looking statements involve risks and uncertainties, including, but not limited to, those discussed in the Company's latest 10-Q filed November 19, 2012.
Investor Relations Contact for Writers' Group Film Corp.:Equiti-trend Advisors, LLC+1 (800) 953-3350 Websites: www.FRNetworks.com
Representing Mark Blundell Partners Limited Braben Attn: Sarah Locke Phone: London +442070258021 sarah@braben.co.uk
SOURCE Writers' Group Film Corp.
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