Company looks forward to strong Q4 and 2021 as major studios begin to recover after long delays related to COVID 19
BOCA RATON, FL, Sept. 30, 2020 (GLOBE NEWSWIRE) -- via NewMediaWire -- Grom Social Enterprises (OTCQB: GRMM) ("Grom" or the "Company"), a social media platform and original content provider for children under the age of 13, today announced that its subsidiary, Top Draw Animation, has qualified for financial incentives under the Film Development Council of the Philippines (FDCP) and its FilmPhilippines Office’s (FPO) Film Location Incentive Program (FLIP) for the production of its animated TV series Bionic Max.
Bionic Max, an animated children’s show about the misadventures of a bionic guinea pig named Max and his goldfish friend JC, will be line produced by the Filipino production company Top Draw Animation for France-based Gaumont Animation. Bionic Max will be distributed by the French children’s Network Gulli and is expected to air at the end of 2021.
Darren Marks, Chairman and Chief Executive Officer of Grom, commented, “We are excited to participate in this program sponsored by FLIP, which gives us an opportunity to expand the Top Draw Animation brand. Together with FLIP and our partner Gaumont Animation, we look forward to bringing more viewers around the world the unique, groundbreaking programs and content we feel so passionately about creating. In addition, we are pleased to report that several of our top projects which were delayed due to the pandemic, are beginning to be rescheduled, giving us confidence for a strong Q4 and 2021.”
Top Draw Animation, founded in 1999, has previously worked for other well-known international productions, including My Little Pony: The Movie (2018), The Hollow (2018), and Penn Zero: Part Time Hero Season 2 (2017).
About Grom Social Enterprises, Inc.
Grom Social Enterprises, Inc., is a leading social media platform and original content provider of entertainment for children under 13 years of age; providing safe and secure digital environments for kids that can be monitored by their parents or guardians. The Company has several operating subsidiaries, including Grom Social, which delivers its content through mobile and desktop environments (web portal and apps) that entertain children, let them interact with friends, access relevant news, and play proprietary games while teaching them about being a good digital citizen. The Company owns and operates Top Draw Animation, Inc., which produces award-winning animation content for some of the largest international media companies in the world. Grom Social Enterprises also includes Grom Educational Services, which has provided web filtering services for K-12 schools, government, and private businesses. For more information, please visit www.gromsocial.com.
Safe Harbor Statement
This press release may contain forward-looking statements which are based on current expectations, forecasts, and assumptions that involve risks and uncertainties that could cause actual outcomes and results to differ materially from those anticipated or expected, including statements related to the amount and timing of expected revenues and any payment of dividends on our common stock, statements related to our financial performance, expected income, distributions, and future growth for upcoming quarterly and annual periods and the other risks set forth in Company's filings with the U.S. Securities and Exchange Commission, including our Annual Report on Form 10-K and our Quarterly Reports on Form 10-Q. Actual results and the timing of certain events could differ materially from those projected in or contemplated by the forward-looking statements due to a number of factors. Among other matters, the Company may not be able to sustain growth or achieve profitability based upon many factors including, but not limited to general stock market conditions. We have incurred and will continue to incur significant expenses in the expansion of our existing and new service lines, noting there is no assurance that we will generate enough revenues to offset those costs in both the near and long term. Additional service offerings may expose us to additional legal and regulatory costs and unknown exposure(s) based upon the various geopolitical locations where we will be providing services, the impact of which cannot be predicted at this time. All forward-looking statements speak only as of the date of this press release. We undertake no obligation to update any forward-looking statements or other information contained herein. Stockholders and potential investors should not place undue reliance on these forward-looking statements. Although we believe that our plans, intentions, and expectations reflected in or suggested by the forward-looking statements in this report are reasonable, we cannot assure stockholders and potential investors that these plans, intentions or expectations will be achieved. Except to the extent required by law, we undertake no obligation to update or revise any forward-looking statements, whether as a result of new information, future events, a change in events, conditions, circumstances or assumptions underlying such statements, or otherwise.
Contact:
INVESTOR RELATIONS
(561) 287-5776
GROM Social Investor Relations
TraDigital IR
Kevin McGrath
+1-646-418-7002
kevin@tradigitalir.com
MJ Clyburn
+1-917-327-6847
clyburn@tradigitalir.com
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