How A Soft Cowboys & Aliens Opening May Affect Platinum Studios

It is by no means their only movie production. Dylan Dog is coming to DVD and Blu Ray, there is some legacy impact from Men In Black III and there are options on a number of projects, as well as a number of Cowboys & Aliens games

But the Cowboys & Aliens movie was Platinum Studio’s big assault on to Hollywood. For a company that lists $900,000 in assets but $27,000,000 in debt, something big was needed.

A $36,000,000 opening is not enough. Platinum promised stockholders that the movie would bring about a whole new round of licensing and a resurgence for the company.

From the unaudited 10-Q for the period ending March 31, 2011:

• $10.3M in assets ($987K current) vs. $27.6M in liabilities ($27.6M current);
• $35.2M accumulated deficit;
• $525K in revenue for the quarter;
• $1.2M net loss from operating activities.

While the company’s financial statements appear less than spectacular, we hope that the release of Cowboys and Aliens will produce a large boost to the company’s revenue stream, which in turn could begin to address their debt issues. This could allow the stock to retain its recent gains and continue to produce additional increases into the future.

That doesn’t look as likely now.

About Rich Johnston

Chief writer and founder of Bleeding Cool. Father of two. Comic book clairvoyant. Political cartoonist.

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