A notice to all producers who have purchased before August 8th 2008

posted by: Casey in MMDM news on December 29, 2008 @ 9:51 pm | comments: 0

Dear Producers,

Please pardon this formal letter but my lawyers insist that I skip my casual banter and be clear and concise.

I was recently contacted by the Ontario Securities Commission (the “OSC”), the securities authority for the province of Ontario, to review the Full Plate Production Incorporated (“Full Plate”) website which highlights its project to produce an internet- financed feature film (the “Project”). Notwithstanding that we have been selling only physical negative frames (the “Frames”) of the film to-be-produced (the “Film”), we have been determined to work in good faith with the OSC in order to address any concern that it may have with respect to the Project and to avoid any potential breach of Ontario securities laws.

In light of these discussions, we halted all sales of Frames of the Film as of August 25, 2008. We’re glad to inform you that these discussions have gone well and, as a result, we have modified certain aspects of the “Leasing Option” of our sales model in the manner set out below in response to the OSC’s request and will immediately resume the sale of the Frames.

The Project is my personal dream that I refuse to abandon. The Film will be made and, as its producers, I’m determined to ensure that you will be proud of your ownership in the Project and hope that you’ll ultimately enjoy the Film as much as I think you will.

For complete terms of the new sales model, please consult the Purchase Agreement, a copy of which is enclosed with this email. The following is a general explanation of the new sales process of the Frames:

If you have previously selected the “Leasing Option” then Full Plate will retain the physical copy of the Frame or Frames you purchased and you will be required to direct all Annual Rental (as defined in the Purchase Agreement) that would have otherwise been payable to you, under the previous terms of the Purchase Agreement, to be donated instead to a bona fide environmental non-profit organization (with clear objectives and a track record of effective environmental initiatives) which has been researched and approved by the group “1% For The Planet”, as set out on their website:
www.onepercentfortheplanet.com. Full Plate will coordinate with 1% For The Planet the manner and process for the payment to be made. As a result, Net Profits (as defined in the Purchase Agreement) shall be allocated as follows: first, to you in proportion to the number of Frames owned, up to the amount of the Purchase Price for the Frames; and second, to be divided equally between Full Plate (including cast and crew of the film), on the one hand, and to the specific environmental non-profit organization, selected by you from among those approved by 1% For The Planet, on the other hand. You will therefore be required to make a contribution to a specific environmental non-profit organization based on your proportionate percentage of all the Frames you own multiplied by 50% of any Net Profits generated. No charitable tax receipts will be issued to you for any contribution to the environmental non-profit organization selected.

In addition, you will not be able to transfer or assign the Frames or any of your rights under the Purchase Agreement to a third party.

All other aspects of the Purchase Agreement and rights assigned to you as a buyer of Frames remain the same.

Given that we are proposing a unilateral modification to the terms and conditions of the Purchase Agreement, we have decided to contact you in order to explain first hand the modification to the business model and to include a copy of the modified Purchase Agreement. In order to ensure your complete agreement with this change, we have decided to entitle you to withdraw your participation in the Project, if you so choose, and to receive a full and complete refund of the Purchase Price by way of PayPal. Naturally, should you seek a refund of the Purchase Price, your rights to the Frame(s) you have purchased and any other producer privileges previously granted will revert back to Full Plate. Should you wish to exercise this refund and right of withdrawal, we invite you to inform Full Plate by return email to casey@mymilliondollarmovie.com within three (3) weeks from the date of mailing of this email by January 12, 2009. Please allow 4 to 6 weeks for a refund. If you do not to reply to this email within the timeframe prescribed, you will be deemed to have accepted to maintain your ownership of the Frame(s) previously purchased and will continue to benefit from the producer privileges and rights under the modified Purchase Agreement.

Your support as well as the support of the many other producers from around the world has been a major driving force in the success of this project thus far. I recognize that without your participation, none of this would have been possible. I hope the possibility of participating in making a feature film and perhaps even raising money for the environmental charity of your choice is a modification worthy of your continued support.
Now, keeping the planet beautiful may be as simple as going to the movies. Something we can all be proud of.

As always, I’m on-line and available should you require any further information on the new terms of the Purchase Agreement. I wish you much success in pursuing whatever dream you have as well.

Cheers,

Casey Walker
Creator/Director
MyMillionDollarMovie.com


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