Global Entertainment Holdings (OTC: GBHL) and Tzar Investment Group have signed an agreement whereby Tzar will act as financial advisor to raise up to $5 million for the development of motion picture projects and initial development of the "i-HUB", a set-top, internet content convergent device.
Los Angeles, CA, February 5, 2015 (Newswire.com) - Gobal Entertainment Holdings (OTC: GBHL) and Tzar Investment Group have signed an agreement whereby Tzar will act as financial advisor to raise up to $5 million for the development of motion picture projects and initial development of the “i-HUB”, a set-top, internet content convergent device.
The “i-HUB” convergence technology system enables internet users and content viewers to easily find and view countless hours of programming and media content available throughout the internet with minimal “clicks”, or using voice commands. The i-HUB recently went through an extremely successful test phase monitored by one of the world’s leading MVDDS (Multichannel Video and Data Distribution Service) technology companies. Global plans to conduct initial testing of its i-HUB units in Albuquerque with MDSAmerica, the leading builder of MVDDS systems in the U.S., Europe and in the UAE.
Hirak Biswas, principal at Tzar, stated, "I and all of my associates have been very impressed not only with the extraordinary potential of Global's projects, but importantly, with the outstanding capability of their experienced management team. We look forward to a long and productive relationship with Gary (Rasmussen), Dan (Sherkow), Jackie (Giroux), and Alan (Bailey).
In addition, Tzar is introducing Global to a variety of Bollywood production entities and funders to further Global’s goal of bringing commercial, cross-cultural stories to the motion picture screen.
Hirak Biswas, principal at Tzar, stated, “I and all of my associates have been very impressed not only with the extraordinary potential of Global’s projects, but importantly, with the outstanding capability of their experienced management team. We look forward to a long and productive relationship with Gary (Rasmussen), Dan (Sherkow), Jackie (Giroux), and Alan (Bailey).
Dan Sherkow, COO of Global Entertainment Holdings, echoed Biswas’ thoughts, “Tzar’s far reaching contacts not only in India but throughout the world should give Global added firepower in many areas including technology, funding, and creative co-ventures.” Global’s CEO, Gary Rasmussen, continued, “Global’s shareholders will no doubt benefit from the wide-reaching alliance with Tzar. We all look forward to working with Hirak and his team, here and in India.”
About Global Entertainment Holdings, Inc. GBHL
GBHL is a publicly-held, entertainment company with the goal of building a worldwide entertainment and media organization with domestic and foreign subsidiaries, affiliates and/or joint venture partners. GBHL operates primarily through its wholly-owned subsidiaries of Global Universal Film Group (Film Production & sales), Global Entertainment Media (media content delivery; the “i-HUB”) and Global Entertainment Film Fund, LLC (Film Slate Financing). The Company is determined to stay on the cutting edge of social networking and media distribution through its wholly-owned subsidiary, You’ve Got the Part, Inc. You’ve Got the Part plans to capitalize on the current popularity of Hollywood and reality-based programming by offering participants a chance at small speaking roles online, in a real Hollywood movie or video production, for which anyone with access to a Smartphone or a digital camera can apply. Global Entertainment Media is focused on development of digital distribution of media content with the i-HUB set-top convergence system. The Company also utilizes joint ventures to maximize revenue while reducing equity exposure. For more information on GBHL, please visit: http://www.Global-GBHL.com.
About Tzar Investment Group
Tzar’s primary mission is to develop, structure, and implement cross-border JV investments and business expansion opportunities between companies from the U.S. and India. With the underlying goal in mind, Tzar has created an innovative and proprietary approach to promoting and developing cross-border business on behalf of its clients. Tzar’s unique approach combines investment capital, corporate financing, business globalization, and other long term strategies in a customized, cost-effective, and efficient manner. For more information on Tzar, please visit: http://www.tzarinvestmentgroup.com
Safe Harbor: Pursuant to the Safe Harbor Provisions of the Private Securities Litigation Reform Act of 1995, and within the meaning of Section 27A of the Securities Act of 1933 and Section 21B of the Exchange Act of 1934, any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, goals and assumptions of future events or performance are not statements of historical fact and may be “forward-looking statements.” Forward looking statements are based on expectations, estimates and projections at the time the statements are made that involve a number of risks and uncertainties which could cause actual results or events to differ materially from those presently anticipated. Forward-looking statements in this release may be identified through the use of words such as “expects,” “will,” “anticipates,” “estimates,” “believes,” or statements indicating certain actions such as “may,” “could,” or “might” occur. Such statements reflect the current views of GBHL and its affiliated companies with respect to future events and are subject to certain assumptions, including those described in this release. These forward-looking statements involve a number of risks and uncertainties, including the timely development and market acceptance and commercial appeal of its feature-length films, its film production services, competitive market conditions in the motion picture industry (both in the US and foreign markets), successful sale of the rights to film content produced, the ability to secure additional sources of financing, the ability to reduce operating expenses and other factors. The actual results that the Company achieves may differ materially from any forward-looking statements due to such risks and uncertainties. Neither Global Entertainment Holdings, nor its affiliate or subsidiary companies, undertakes any responsibility to update the “forward-looking” statements contained in this news release.