Cre8tive Works Inc. (OTC: FILM), developer of financially compelling, production ready, independent films and documentaries, recently announced that it entered into a letter of intent to acquire InSight Media, an entertainment company focused on videos and web assets related to the cannabis industry, including its flagship Cannabis Café TV program.
“By acquiring InSight Media’s assets, we are positioning ourselves to become a leader in the production and distribution of cannabis related media,” said Cre8ative Works Inc. CEO Andrew McLaughlin in a press release. “Through Cannabis Café TV, we plan to provide the general public with information that is factual, timely, and professionally presented while remaining entertaining.”
InSight Media is the brainchild of Hal Lewis – a seasoned film industry professional and integral production team member of the 2011 Academy Award winning Best Film The Artist. Mr. Lewis’ foresight of filming meaningful and provocative interviews of patients thriving on cannabis therapy was substantiated when CNN and Sanjay Gupta delivered the same messages on mainstream television.
The company’s portfolio of in-house cannabis-related shows include The Grow Show, The Medicinal Minute, and Cooking with Cannabis, which are available for viewing on at www.cannabiscafetv.com. Currently, the group is also in discussions to create a reality show concept as well as a low budget feature based on the cannabis sector, which could further expand its content offerings in the near future.
Last quarter, the company reported no revenue and a net loss of $168,783 with total assets of $779,887 compared to total liabilities of $423,023. In an earlier press release, the firm also indicated that it has identified an auditor and is in the process of gathering the information and preparing the documentation needed to complete the filing process and become fully reporting with the U.S. SEC.
Shares of Cre8tive Works Inc. are trading up more than 20% over the past week and 56% over the past month.
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