Last weekend saw two movies in wide release, Cowboys And Aliens and The Smurfs. Know this -- I fucking hate the Smurfs, and I would have gladly sat through that movie than Cowboys And Aliens. He didn't do anything to me personally, but I have a total axe to grind with Scott Rosenberg. As far as I'm concerned, if they took him, Josh Hoopes, Rick Olney, and Tony Caputo, and used them to plug holes at Fukashima, it would be a great start.
Rosenberg's Platinum Entertainment was the driving force behind Cowboys And Aliens. Let's take a look at the 10-Q they filed on March 31, 2011, shall we?
$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.
I would like to point out that they have less than $1 mil cash money and $27 mil in liabilities. Holy shit! And not only were they promising investors that the movie would do way better than that, not only were they expecting studios to beat a path to their door to make all kinds of Cowboys And Aliens spin-off media, by they beat The Smurfs by less than a million dollars.
Suddenly, Platinum remaining on good terms with investors, present and future? Not looking so good now, is it?