New Cinema Partners Files S-8 Registration

Apr 30, 2001, 01:00 ET from New Cinema Partners

    TORONTO, April 30 /PRNewswire/ - New Cinema Partners (OTC Bulletin Board:  
 NCPP - news) announced today that the Company had entered in to a new Fee
 Agreement with its securities counsel, Jaffe, Freedman & Hait, LLC; Jay Hait,
 esq. (the "Firm").
     The agreement calls for 500,000 shares of the Companies common stock to
 be registered under rule S-8 to the Firm as a guarantee against payment for
 fees. A copy of the S-8 filing can be found on EDGAR, the Securities and
 Exhchange Commissions's electronic filing system.
     The Directors of the Company made the decision to approve the S-8
 registration statement as a result of the Companies financial condition and
 its inability to financially provide for the vital function performed by the
 Firm.
     Although the Fee Agreement provides certain conditions of the sale of
 stock by the Firm, the S-8 shares are "free-trading" and considerably dilute
 the current float and could adversely effect the share price of the companies
 stock.
     The Companies 10K Annual Report filing is due no later than May 29th.
 There is no mechanism to provide stock in lieu of payment to the Companies
 accountants and there is no assurance that the Company will be able to
 reconcile its account with the accountants in time to complete the annual
 report filing.
     The Board of Directors shall make every effort to complete all required
 filings and to maintain reporting and OTC Bullitin Board Trading status.
     The Board of Directors of the Company also reiterate that they are
 interviewing qualified investment banking firms and are exploring solutions to
 address the current situation and will report to the shareholders as soon as
 any new information is available.
     This press release contains forward-looking statements within the meaning
 of the Private Securities Litigation Reform Act of 1995 (the "Act"). In
 particular, when used in the proceeding discussion, the words "plan",
 "confident that", "believe", "expect", or "intend to", and similar conditional
 expressions are intended to identify forward-looking statements within the
 meaning of the Act and are subject to safe harbour created by the Act. Such
 statements are subject to certain risks and uncertainties and actual results
 could differ materially from those expressed in any forward-looking
 statements.
 
 

SOURCE New Cinema Partners
    TORONTO, April 30 /PRNewswire/ - New Cinema Partners (OTC Bulletin Board:  
 NCPP - news) announced today that the Company had entered in to a new Fee
 Agreement with its securities counsel, Jaffe, Freedman & Hait, LLC; Jay Hait,
 esq. (the "Firm").
     The agreement calls for 500,000 shares of the Companies common stock to
 be registered under rule S-8 to the Firm as a guarantee against payment for
 fees. A copy of the S-8 filing can be found on EDGAR, the Securities and
 Exhchange Commissions's electronic filing system.
     The Directors of the Company made the decision to approve the S-8
 registration statement as a result of the Companies financial condition and
 its inability to financially provide for the vital function performed by the
 Firm.
     Although the Fee Agreement provides certain conditions of the sale of
 stock by the Firm, the S-8 shares are "free-trading" and considerably dilute
 the current float and could adversely effect the share price of the companies
 stock.
     The Companies 10K Annual Report filing is due no later than May 29th.
 There is no mechanism to provide stock in lieu of payment to the Companies
 accountants and there is no assurance that the Company will be able to
 reconcile its account with the accountants in time to complete the annual
 report filing.
     The Board of Directors shall make every effort to complete all required
 filings and to maintain reporting and OTC Bullitin Board Trading status.
     The Board of Directors of the Company also reiterate that they are
 interviewing qualified investment banking firms and are exploring solutions to
 address the current situation and will report to the shareholders as soon as
 any new information is available.
     This press release contains forward-looking statements within the meaning
 of the Private Securities Litigation Reform Act of 1995 (the "Act"). In
 particular, when used in the proceeding discussion, the words "plan",
 "confident that", "believe", "expect", or "intend to", and similar conditional
 expressions are intended to identify forward-looking statements within the
 meaning of the Act and are subject to safe harbour created by the Act. Such
 statements are subject to certain risks and uncertainties and actual results
 could differ materially from those expressed in any forward-looking
 statements.
 
 SOURCE New Cinema Partners