Prior to the Restructuring, we were a multimedia entertainment company with a focus on developing entertainment content. We developed, produced and distributed music, motion picture and other filmed entertainment content through our operating subsidiaries.

We had identified a market opportunity in the entertainment industry resulting from the convergence of music and film in the world's fastest growing consumer entertainment product, the digital video disc ("DVD"). The percentage of DVD unit sales has increased in market share for entertainment content delivery to consumers faster than any format in entertainment history. The DVD has received overwhelming market acceptance and response. The music industry has used the DVD to enhance the sale of its products. Many music fans have responded favorably to concert DVD's and music video DVD's of their favorite artists. It was the vision of Christopher Schwartz, our former Chairman, Chief Executive Officer and principal stockholder, to focus on the DVD format as a means to identify and enable creative artists to combine their visual and audio talents in a consumer product that will protect the proprietary nature of the content. Our mission was to become an independent multimedia entertainment company combining state-of-the-art technologies with creative product that meets the growing demand of today's market.