American Film Technologies

Over the past year, American Film Technologies, the leader in the film colorization business, has moved to Southern California, hired--and subsequently pushed out--a new president and started to switch its primary business to animation. The changes had better work. The company, now in North Hollywood, expects a loss of $700,000 to $1.2 million for the quarter that ended Dec. 31.

Remember colorization? You know, Ted Turner turning hundreds of old black-and-white movies, including "Casablanca" and "Yankee Doodle Dandy," into (often overly) vivid color? The colorization of "It's a Wonderful Life" setting off protests by directors like Woody Allen and Steven Spielberg? Following the headlong rush into colorization--which resulted in Turner, 20th Century Fox, Walt Disney Co. and others colorizing at least 600 movies--half a dozen companies sprang up around the U.S.

Jody Shapiro uses colorization technology to put orange masks on the faces of black-and-white bodies for a rock music video and to turn a sporty pack of BMWs fire-engine red in a commercial for the German car maker. Where others see black and white, Shapiro sees colors--especially green. As president and chief executive of CST Entertainment in Culver City, Shapiro is helping colorization stage a comeback.

American Film Technologies expects to lose $700,000 to $1.2 million in its current quarter due to expenses incurred in moving some of its film-coloring and animation operations to Tijuana. The North Hollywood-based company's second quarter will end Dec. 31. American Film Technologies also blamed the loss on lower revenues from its colorization business and the cost of buying out the contract of Joseph M. Taritero, its former chairman and chief executive, who left the company in November.

American Film Technologies Inc., a North Hollywood company that supplies animation production services and special effects to the television and motion picture industries, reported a $156,000 profit in its first quarter that ended March 31. A year earlier, American Film lost $2.89 million. In its latest quarter, revenue totaled $3.13 million, up 86% from $1.68 million in 1991's first quarter. The company attributed the gains to growth in its film coloring and animation businesses.

American Film Technologies Inc., a North Hollywood provider of animation services and special effects for the television and film industries, said it had received a commitment for a $2-million credit line from the Bank of Industry. The company said the arrangement was a change in its primary banking relationship, from Meridian Bank in Pennsylvania to Bank of Industry, and reflected the company's move of its headquarters from Wayne, Penn., to North Hollywood earlier this year.

American Film Technologies Inc., a North Hollywood producer of animation and special effects for movies and television, said it is still negotiating with a group led by evangelist M. G. (Pat) Robertson that is interested in investing $4.7 million in the company. A letter of intent regarding the proposal signed May 26 remains in effect, American Film said. But Robertson's group has not yet finished its due diligence investigation, and so a definitive agreement on the matter has not been reached.

American Film Technologies Inc., a North Hollywood producer of animation and special effects for movies and television, said New York attorney and investment banker Gerald M. Wetzler agreed to acquire 75% of American Film for about $3.3 million. The agreement with Wetzler ends American Film's long search for an investor to provide the company with needed capital.

American Film Technologies (AFT), as part of a new deal with Ted Turner's Entertainment Co., will deliver colorimaged--a new word the company coined for colorizing--versions of the classic films, " Boom Town" (Clark Gable and Claudette Colbert), "They Were Expendable" (Robert Montgomery and Donna Reed) and "Catered Affair" (Bette Davis and Ernest Borgnine). Turner's company then has an option to have AFT color up to 49 more black-and-white films by 1992 for approximately $14 million.

American Film Technologies Inc., a financially troubled North Hollywood producer of animation and special effects for movies and television, said it filed for protection from its creditors under Chapter 11 of the U.S. Bankruptcy Code. Despite the filing, the company said it is still in discussions with a possible equity investor. As previously reported, American Film said earlier this month that New York attorney and investment banker Gerald M.

American Film Technologies Inc., a North Hollywood producer of animation and special effects for movies and television, said New York attorney and investment banker Gerald M. Wetzler agreed to acquire 75% of American Film for about $3.3 million. The agreement with Wetzler ends American Film's long search for an investor to provide the company with needed capital.

American Film Technologies Inc., a North Hollywood film colorizer and provider of special effects and animation for television and movies, said it has terminated a letter of intent to sell a controlling stake in the company to a group of investors led by evangelist Pat Robertson. The company said it called off the proposed transaction even though discussions with the Robertson group continued after the expected closing date of June 30.

American Film Technologies Inc., a North Hollywood producer of animation and special effects for movies and television, said it is still negotiating with a group led by evangelist M. G. (Pat) Robertson that is interested in investing $4.7 million in the company. A letter of intent regarding the proposal signed May 26 remains in effect, American Film said. But Robertson's group has not yet finished its due diligence investigation, and so a definitive agreement on the matter has not been reached.

Evangelist Pat Robertson, whose International Family Entertainment Inc. is fresh from its acquisition of MTM Entertainment Inc. in Studio City, has agreed to acquire control of another local company. American Film Technologies Inc., a North Hollywood film colorizing and animation company, said a group of private investors led by Robertson tentatively agreed to pay $4.7 million for American Film common stock and warrants. The stock purchase would give the Robertson group a 51.

American Film Technologies Inc., a North Hollywood provider of animation and special effects for television and movies, reported a $1.37-million loss for its fiscal second quarter ended Dec. 31. The loss compared with year-earlier earnings of $305,000. AFT's revenue in the period fell 18% from a year earlier, to $2.91 million from $3.55 million.

American Film Technologies Inc., a financially troubled North Hollywood producer of animation and special effects for movies and television, said it filed for protection from its creditors under Chapter 11 of the U.S. Bankruptcy Code. Despite the filing, the company said it is still in discussions with a possible equity investor. As previously reported, American Film said earlier this month that New York attorney and investment banker Gerald M.

Over the past year, American Film Technologies, the leader in the film colorization business, has moved to Southern California, hired--and subsequently pushed out--a new president and started to switch its primary business to animation. The changes had better work. The company, now in North Hollywood, expects a loss of $700,000 to $1.2 million for the quarter that ended Dec. 31.