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STORM HIGH PERFORMANCE SOUND CORPORATION
*North Coast Productions Inc* If vote on name change is aproved.
8756 B 122ND AVENUE N.E.
KIRKLAND, WA 98033
Storm's common stock is currently traded on the Over-the-Counter Bulletin Board under the symbol SHPE
30,317,623 shares of common stock issued and outstanding.
Title of Name of Beneficial Amount and Nature Percent of Class Owner of Beneficial Owner Class ---------- ------------------- --------------------- ---------- Common Patrick F. Charles 3,326,540 (1) 27.00% Stock 8756 122nd Avenue NE Kirkland, WA 98033
Common Terrence K. Picken 3,326,540 (1) 27.00% Stock 8756 122nd Ave NE Kirkland, WA 98033
Common M. Richard Cutler 1,661,750 (2) 13.82% 610 Newport Center Dr. Suite 800 Newport Beach, CA 92660
Common Asher Starik 875,000 7.28%
All Officers and Directors 6,653,080 54.00% As a group (2 persons)
(1) 7,115,593 shares of common stock of Storm are presently owned by North Coast of which the issued and outstanding voting common shares are owned 46.75% by Patrick F. Charles and 46.75% by Terrence K. Picken who are also the only officers and directors of North Coast.
(2) Of such shares, 731,250 are held by MRC Legal Services LLC. Mr. Cutler may be deemed to be the beneficial owner of such shares.
THE COMPANY BUSINESS
The MERGER Agreement calls for North Coast to be merged into STORM HIGH PERFORMANCE SOUND CORPORATION
The future operations of Storm as contemplated by the Agreement will be that of North Coast. The following summarizes the organizational history of North Coast Productions, Inc.:
North Coast was formed as a privately owned company and incorporated in the State of Washington on December 29, 1999. The North Coast business plan adopted in December of 1999 is to produce and distribute films for the entertainment industry.
In December 1999, North Coast adopted a business plan to actively pursue production and distribution of film properties and the purchase of scripts that management had become aware of. It is the overall business goal of North Coast to become a full service film production and distribution company whose productions may be completed and brought to market within a budget of $5 million and under per project.
Distribution channels such as video, cable and foreign venues that are available to the company should provide the company with receptive markets for its film productions. North Coast's major upside potential will be realized when one of its productions is accepted for wide spread USA theater distribution. North Coast is targeting films that do not require USA theatrical showings to return a profit to the company.
The company will be active in feature length movie productions, selected short subject production as well as producing projects and series for Television.
PLAN OF OPERATIONS
The company's current plan is to concentrate its business development efforts on opportunities available in the film production business, including made for TV projects.
The company plans to hire a team of industry professionals. Contact has been made with several industry experienced individuals who have expressed an interest in joining North Coast. Day to day operations, the selection of projects and the marketing of the company's productions and services will be by industry professionals.
The company's plan is to become operational during the second quarter of 2000. The development of two motion picture projects will receive the bulk of the company's management time and financial resources, if and when the financial resources become available.
North Coast is in the process of establishing itself as producer and distributor of filmed entertainment products. Foreign or World Wide distribution of USA produced entertainment projects is one of the fastest growing segments of the industry. It is the intention of North Coast to exploit that market as the foundation of the company's future.
The company's major marketing strategy is based on selling "within budget" productions to the marketplace at competitive prices. This includes video and cable distribution outlets in addition to the foreign markets. The growing availability for viewers in countries outside the USA to receive USA cable network productions from HBO, Show Time and others, has increased demand for the type of programming that North Coast is planning to produce.
North Coast will establish distribution outlets, through strategic alliances, through out its market place. A strong company representative network, coupled with well-chosen, competently produced projects will provide a basis for success.
Under its marketing plan the company is also developing relationships with writers and independent producers to assure that North Coast has a constant flow of projects under review. Included in this stream of projects are feature length films, made for TV films, mini series for TV and TV feature series. While each has a different market place, they all, as in any business, want the most for the least cost. The company has as one of its missions, the cost efficient production of its projects. Cost efficiency will become a hallmark of North Coast and will be the source of the company's internal growth.
The company plans to formulate an aggressive joint venture acquisition plan for stimulating growth. As in most industries, the consolidation movement is growing. North Coast management believes that growth by strategic acquisition is necessary for the company to reach the company's full potential. Management has significant M&A experience.
To date North Coast's current business activities have consisted primarily of developing a business plan, assembling a management team, and pursuing film production opportunities and financing. Options to purchase Magellan Entertainment of Malibu, CA and Nickel Palace, Inc. of Hollywood, CA have been signed. Definitive Agreements are under negotiation.
Magellan Entertainment owns the rights to Tuesday's Letters, a movie script that is scheduled for production this summer. The budget for this project is $4.5 million. A division of Magellan, that will become the distribution arm of North Coast is currently selling Tuesday's Letters into the foreign market place.
Magellan's management team brings 20 plus years of industry experience to North Coast. Their experience includes acting, distribution and most importantly, producing. They have first hand knowledge of industry cost controls which will assist North Coast in reaching its goal of being cost efficient.
Nickel Palace owns the rights to Rennie's Landing, a movie script that is scheduled for filming in June of this year. The budget for this project is $980,000. The director and producers of this film are currently working on bigger budget films for major studios. They are experienced, bright and have the vision necessary to recognize what the viewing public, the 18 B 34 year old wants to see. The addition of the Nickel executives to the North Coast management team brings the X & Y generation vision to the company.
The Form 10-SB of The Hi Liner Group, Inc. (the Company's predecessor), filed with the Commission on January 19, 2000
For questions should be directed to the Chief Executive Officer at Storm's executive offices, located at
8756 - 122nd Avenue N.E.,
Kirkland, WA 98033.
Storm's telephone number is (425) 827-7817.
Patrick F. Charles 58 President, Chief Executive Officer Director
Terrence K. Picken 61 Executive Vice President, Chief Operating Officer Director
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