Mike The Pike Productions Inc.’s (OTCMKTS:MIKP) Stock Pulls Back After a Major News
The entertainment industry has managed to attract the interest of investors in a big way in recent times, and one of the companies that could be worth tracking at this point is Mike The Pike Productions Inc. (OTCMKTS:MIKP). There have been some significant developments in recent times that investors need to look into before making their minds up about the company.
Mike Pike Productions is a studio that is owned by fans and focuses on the development, acquisition, and production of intellectual property through Arowana Media Holdings, its fully subsidiary unit. On August 9, the company announced that it had made a key acquisition through Arowana. The acquisition was that of the television, film, and other media rights to Biker, a series of novels that led to the Bad Boy Rising series by highly productive creator Mike Baron. Baron is credited with having authored in excess of 1000 comic books throughout his career, and that also includes a number of novels.
One of the company’s producers, Rich Angell, and its Chief Executive Officer, Mark B. Newbauer, both foresee considerable potential in bringing the world of Biker to screen. Newbauer noted that Bad Road Rising was a classic amalgamation of classic noir and modern-day pulp, with major unexpected plot twists and a wide range of characters. However, that was not all. In the same news release, Mike The Pike Productions also announced that it had also finalised the terms to acquire another legacy intellectual property to its portfolio. The acquisition had been hailed by fans as well critics as a masterpiece.
Another key development took place on March 3, 2023, when the company announced that it had managed to amicably agree to the termination of a letter of intent with Sack Lunch Productions. The company terminated the LOI and instead worked on proceeding toward becoming a fully reporting SEC entity. The company, which had OTC Markets Pink Current status at the time, was intent on filing its audited financial results on Form 10 through the end of the year 2022 in order to get the desired status.
At the time, the CEO of the company, Newbauer, noted that it was the best possible step for both the company and the shareholders.t would help the company chart a path to becoming a fully reporting pink company. However, he also called for shareholders to have patience as the company continued to work with the auditors in order to prepare the final version of its 2022 financials. He asserted that it would be a significant step for the company in 2023. Lastly, he went on to talk about the different projects on which its fully-owned subsidiary unit, Arowana, had been working. In light of these developments, it may well be a good time for investors to keep an eye on Mike The Pike Productions stock in the coming days.
