APTI Has Acquired Crown City Pictures, Inc. and Appointed New Officers and Directors
The Uprising Film & Television and United Front Now Part of APTI
LOS ANGELES, CALIFORNIA -- (Marketwire) -- 07/18/11 -- American Post Tension, Inc. (OTCBB:APTI) and Crown City Pictures, Inc. announce that, by unanimous written consent of APTI's Board of Directors and written consent of a majority of its shareholders, APTI has acquired Crown City Pictures, Inc. ("CCP"), an entertainment company, from Crown City Holdings Corp., the former parent company of CCP.
As part of this transaction, APTI transferred its existing operating subsidiary, Nevada Post Tension, Inc., and all of the post tension business and all related debts and liabilities, to its former majority shareholders in redemption of common shares held by them, representing 63 percent of the outstanding common shares. Through this transaction, APTI has also acquired two CCP subsidiaries: The Uprising Film & Television, LLC, and United Front, LLC. Both LLCs develop and produce high-profile film and television projects.
The Uprising is a Los Angeles-based company producing feature films, action sports programs and events, music television, reality based series and documentaries. Trip Taylor, Executive Producer of the Jackass TV show and feature films, Trippin' hosted by Cameron Diaz, and Half Pint Brawlers for Spike TV, co-founded The Uprising. Earlier in his career, he sharpened his teeth with event shows such as the MTV Movie Awards and the MTV Sports and Music Festival. Trip went on to produce The Tom Green Show and stayed in the comedy space producing a music-driven sketch comedy show, The Lyricist Lounge, working with Mos Def. He also acted as Executive Producer on other television projects such as Wildboyz and Nitro Circus. Most recently Trip has completed Jackass 3D for Paramount Pictures. Bobby Pura, co-founder of The Uprising, is a former MTV Development Executive based in Santa Monica, California. Mr. Pura's Executive Producer and Director credits include projects for clients such as VH1, SyFy, MTV, MTV International, ABC Family, Discovery, Imagine Entertainment, Direct TV, Endemol USA, and NBC Universal.
United Front, founded in 2007, is a Los Angeles-based multi-media content creation studio, engaged in the development and production of genre-based independent motion pictures, feature-length documentaries, reality television series, commercials and emerging online branded content. The company has demonstrated success with branded content; from 2007 to 2008, the company produced MyCadillacStory, a series of documentary film shorts for GM/Cadillac featuring William H. Macy, Jay Leno, Travis Barker, Tiki Barber, Mike Krzyzewski ("Coach K"), and Meg Ryan, among others. United Front's productions have been sold to MTV, OWN and Showtime Networks, and have garnished numerous film festival and advertising awards.
Michael W. Abbott founded United Front and is its CEO. Before United Front, Abbott was previously Creative Executive at No Prisoners Productions. While at No Prisoners, Abbott co-created the Coachella Independent Film Festival in 1999. He also helped form Point of No Return Entertainment (renamed Ascendant Pictures) for gaming pioneer Chris Roberts ("Wing Commander"). He was a producer on the film "Expired", which premiered at both the Sundance and Cannes film festivals. Abbott is a graduate of the University of Southern California's School of Cinema-Television, where he was awarded a number of honors.
APTI has also announced that Michael W. Abbott has been appointed APTI's new Chairman and President, and Trip Taylor has been named a Director of APTI. APTI has also initiated the process of to change the corporate name to Crown City Pictures, Inc. and to change its trading symbol.
Michael W. Abbott, APTI's new Chairman and President, says, "The vision of Crown City is to build a dynamic and diversified portfolio of refreshingly productive entertainment companies. We want to provide the investing public an opportunity to become involved in companies whose work and success is not just a part of their everyday lives, but greatly defines their overall lifestyle."
About Crown City Pictures
Crown City Pictures, Inc. is an entertainment company. Through its United Front (www.unitedfrontfilms.com) and The Uprising (www.theuprisingent.com) subsidiaries.CCP develops and produces television content and motion pictures. For more information please visit www.Crowncitypictures.com.
This announcement is not an offer to sell any American Post Tension ("APTI") securities. Offers for any given security are made only through applicable offering circulars and related documents filed with the SEC pursuant to the Securities Act of 1933 or the Securities Exchange Act of 1934. Certain statements contained herein and subsequent oral statements made by and on behalf of APTI may contain "forward looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward looking statements are identified by words such as "intends", "anticipates", "believes", "expects", and "hopes" and includes, without limitation, statements regarding APTI's plan of business operations, product research and development activities, anticipated revenues and expenses and potential contractual arrangements and obligations. Forward-looking statements speak only as of the date of the document/oral statement in which it was made. In making any such statements, the person making them believes that his expectations are based on reasonable assumptions; however, any such statement may be influenced by factors that could cause actual outcomes and results to be materially different from those projected or anticipated. These forward-looking statements are subject to numerous risks and uncertainties. There are various important factors that could cause actual results to differ materially from those in any such forward-looking statements and are mostly out of the company's control. Among these are: general economic conditions, receipt of additional working capital, and acceptability of the company's products in the marketplace as well as other factors set forth in the company's SEC filings. APTI disclaims any intent or obligation to publicly update these forward-looking statements, whether as a result of new information, future events or otherwise.
Crown City Pictures, Inc.