Effective Thursday June 18, 2009 Sebastian's Studios, INC. releases films.
March, 2008 JJ Ruch owner of NoW @ ONE Entertainment and Robert Cornelius of AtticMen.com signed a buyout contract with lawyers Stephen Mowrey, ESQ. and Paralegal Stephanie Thompson under the witness of Kendra Wilson, ESQ. Both parties agreed to the business buyout of AtticMen.com on payment terms. On this date, JJ Ruch owner of NoW @ ONE Entertainment received 165 scenes from the Atticmen.com buyout and promised by contract to pay Robert Cornelius the sum of $3,000.00 per month until the full amount of $144,000.00.
After the buyout was complete both parties went about their way.
Later in the month of March, 2008 JJ Ruch discovered the films quality was very poor. It looked as if it were produced by a webcamera. With that said, JJ Ruch decided to give this venture a shot and see how it does. The footage did very well with online content providers.
Ruch says, "With this economy the way it is, this isn't worth it. I do not feel comfortable continuing with this buyout, it is causing us a decrease in growth due to the amount of money we need to compensate them, and with bad quality DVDs your options are limited. Once the media is surendered Sebastian's Studios, INC. will be in better standings than before. We will go back to producing new exclusive videos and DVDs each month as we did prior to the AtticMen buyout. We are knocked down, but we will pick ourselves back up, wipe off the dust, put a bandaid on it, and get back up on our feet. We tried many times to make an effort to work out a resolution with AtticMen towards the buyout and even made offers in his favor, all offers were declined by Robert Cornelius."
Within 90 days Ruch found the videos were selling very well as the latest videos produced by AtticMen were released first. After releasing aprox. 30 DVDs moving further to the oldest, Ruch discovered many of these were not sellable on DVD but provided a shot with VOD. Under attorney supervision, Ruch did confront AtticMen.com regarding a settlement with the said films in question. Robert Cornelius declined the offer.
March 25, 2009 NoW @ ONE Entertainment went out of business and Sebastian's Studios, INC. was formed. JJ Ruch was the guarantor on the buyout contract and the personal guarantor changed to the effect of the buyout.
On June 5th 2009, Ruch spoke with AtticMen.com via email to re-negotiate the terms of the said video products received on the compensation. If no agreements could be met at that time, Ruch would surrender the 165 video scenes to AtticMen.
On Thursday June 18th, 2009 Ruch met with new legal representatives of Sebastian's Studios, INC. Attorneys Jay A. Scherline, ESQ. and Norman Blatt Jr., ESQ. as the original attorneys who formed the buyout contract moved out of the state and cannot govern Sebastian's Studios, INC. at this time.
Effective 9:47AM Thursday June 18, 2009 Sebastian's Studios, INC. is hereby relinquishing all AtticMen footage to the safe return of Robert Cornelius of AtticMen. Ruch's legal representatives have advised Robert Cornelius of this action, Ruch has signed a relinquishment of the media product to the County of Northampton Pennsylvania as the Buyout was formed in the county.
A court date has not been set as of yet for Ruch to relinquish the AtticMen company back to Robert Cornelius. Ruch will be scheduling this date in the Northampton County Courthouse by the end of the day Friday June 19, 2009. A court appearance is only required to finalize and for both parties to confirm the footage and business buyout is being released back to Robert Cornelius.
At this time JJ Ruch, President of Sebastian's Studios, INC. is hereby making this situation public knowledge to all agents, successors, affiliations, partners, and all other parties involved with the footage such as Online Video On Demand Content Providers and DVD Retailers.
By Pennsylvania law, Ruch has 90 days to have all said content removed from all properties owned by Sebastian's Studios, INC., all Video On Demand Providers, DVD Retail Providers, and any other entities that carry the AtticMen DVD Products supplied by Sebastian's Studios, INC. Content Providers have until Wednesday September 30, 2009 at 11:59PM (EST) to have all said content removed. Ruch does ask all content providers to contact him directly before any content is removed to initiate a schedule and to ensure accuracy the proper Content is removed.
Ruch will email all providers within the next 7-10 days with a direct list of what products should be removed. Because a large portion of DVDs were produced by Sebastian's Studios, INC. and 165 products were produced by AtticMen, Ruch is calling out all providers to please wait until a direct list is emailed. At this time Sebastian's Studios, INC. is only informing of the situations.
Ruch has spoken to various Online Content Providers such as Hot Movies, AEBN, XTube, and others. Ruch has been ensured this surrenderance will not affect the standing with these parties.
Should you have any questions or concerns regarding this relinquishment please contact Sebastian's Studios, INC. Corporate Officials:
JJ Ruch
President
Email: JJ@Sebastiansstudios.com
Phil Belusko
Vice President
Email: Phil@SebastiansStudios.com
Office: (610) 419-9007
Bookmarks