A company called Audience Productions has filed to go public with the Securities and Exchange Commission, and are selling $10/share preferred stock to people who want to invest in the movie they’re creating.
The movie is called “Lydia Slotnick Unplugged“:
“Lydia Slotnick Unplugged” is a comedy about an up and coming executive at a hip music TV network. When Lydia’s dream job becomes available, it’s a toss up between her and a skater-punk named Gator. Their boss favors Gator because he’s worried that Lydia’s lost her edge. So, Lydia decides to prove that she’s still got it by revealing the gritty story of her idol, legendary 70s rocker, Graham McGuiness. Graham has spent the past 30 years in a fog of alcohol and self-pity. He’s trying to find that elusive lost chord to become successful again. In a frantic race to uncover Graham’s past, Lydia learns an incriminating secret, which would make perfect material for a top-rated show. But she has to decide whether to use it to secure her promotion or destroy the evidence to save the reputation of her idol.
Sound good to you? Then you’ll definitely want to invest. Because the movie will only be made if they raise the full $8 million. Your minimum purchase is 2 shares, for $20.
Here’s what you get – your money back + 7% if the movie makes a profit. Any profit over 7% is shared 50/50 between the investors and the people behind the company. If the movie makes less than $8 million, all of it goes back to the investors.
Don’t expect a free ticket to see the movie, though. From the FAQs: “Do I get to see the completed movie for free? No. A distribution arrangement will preclude such a large number of complimentary tickets or DVDs.” You also won’t be allowed on set, but you will get to download clips of the movie.
Also note that the stock won’t be listed on Nasdaq or any other exchange, so you won’t be able to sell these shares very easily once you’ve invested.