5 million years in MSPaint

Hey guys,

Those of you that are worried that we (Anime Network) are shutting down can get down from your chairs and untie that noose.  We arent going anywhere.  AN has always been a separate entity from ADV, and as such business around here will continue as usual.

 

That's right, the Online Player isnt going anywhere, neither are the forums or the Community section.  Everything will stay as is, just like yesterday, just like this morning.  There may even be a surprise waiting in the wings for anyone who's still feeling the blues.  More on that later.

 

Sorry this was posted so late, I was in class and had no idea, imagine my OoO'' face when I got the email haha.  No one will share their notes with me now...Anyway, everyone just go ahead and take 10 CC's of chillaxophyl, sit back and relax, we're here to stay. ^_~

 

The official statement is below, so read up.  If you can understand it, email me an explanation!

 

 

 

 

 A.D.Vision, Inc. Concludes Series of Asset Transactions

 

HOUSTON, September 1, 2009 - A.D. VISION, INC. ("ADV" or the "Company") announced today that June 1, 2009, the Company concluded a series of transactions that are expected to result in seamless delivery of home video products and television programming to customers.

Through an asset purchase agreement, AEsir Holdings, LLC ("Aesir") acquired a subordinated interest in selected programming from ADV's film library together with other intellectual property subject to all liens and security interests of the Company's senior secured lender. The transaction requires Aesir to assume specific obligations and scheduled liabilities of the Company under legacy license agreements associated with the acquired programming.

Concurrently, the Company concluded an asset purchase agreement with SXION 23, LLC, doing business as "Section23 Films," a home video distribution company, under which it assumes account servicing and distribution operations in connection with the library acquired by Aesir, subject to all liens and security interest of the Company's senior secured lender.

John Ledford, ADV's President and CEO, states "We believe the actions we initiated and completed provided the same or more value to the Company's secured lender and its programming licensors while giving other key stakeholders such as employees and customers some potential value or the reasonable probability of realizing value."

In a separate transaction, Valkyrie Media Partners, LLC ("Valkyrie") acquired a 100% equity position in Anime Network, Inc. ("ANI"), formerly ADV's television unit, pursuant to a stock purchase agreement between ADV and Valkyrie. That transaction includes an assumption by Valkyrie of specific liens and security interests of the Company's senior secured lender.

In another separate transaction, Seraphim Studios, LLC acquired Amusement Park Media, the production unit of A.D. Vision, Inc.

Further announcements are expected from the respective acquiring entities over the coming days.

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