China Cable & Communication Inc.

• Public

Dow Jones Description

Nova International Films, Inc. (the "Company" or the "Registrant") was incorporated in the State of Delaware on November 27, 1984. The Company was principally engaged in the business of developing, financing and producing motion pictures (sometimes herein "film(s)") for distribution. On January 2, 1986, the Company completed an initial public offering and raised gross proceeds of $1 million. During fiscal 1990, the Company was able to complete and release two films it placed into production in fiscal 1989. These films were entitled "Triumph of the Spirit" and "Firebirds". Additionally, in January 1990, the Company acquired from Epic Productions, Inc. ("Epic") all of the issued and outstanding capital stock of Byzantine Fire, Inc. which at the time owned the rights to the completed film property "Why Me?". This film was also released during fiscal year 1990. Other than the foregoing, the Company has not been involved in the release of any other films. The Company also had previously entered into an agreement in principle with Epic, whereby the Company had the option, should Epic produce, to co- produce a motion picture entitled "Carlito's Way" (the "Carlito's Way Rights").

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