Saturday, April 1, 2017

Project Child Support Receives A $5 Million Funding Commitment To Produce The First 26 Episodes Of Its Television Series

Immediate Release: A Funding Deal, A Minimum Guarantee And New Distribution Terms Have Project Child Support On Its Way To Producing Its Television Series.  

It’s been more than a year since Project Child Support announced its television series deal since November 2015, and raising the funds to enable its CEO and Founder to maintain ownership of the series hasn’t been easy.  Recently, the company received an agreement to acquire $5 Million in funding to produce the first two seasons of the series (See: Funding Confirmation).  Unlike most television shows where a pilot episode or what is known as a sizzle real is produced, and then presented to a television network, where the network invests in the series and owns it, Kai Patterson decided on a different approach to own his own series.  Having raised over $14 million in a year for his last venture called AMBER Ready, Patterson decided to raise the funds himself, and own the rights to his own series (See: $12 Million and $2 Million).  The benefits of his decision enabled him to acquire a production and funding agreement that gives him full ownership of the series, and an agreement that prevents the distribution of the series from being cancelled.  This structure of producing and airing a television series is not new in television, and also known as a ‘first run syndicated time buy’, which is becoming more common in distributing shows.  

Producing and distributing a series as a first run syndicated time buy, gives Patterson complete control of the series, including the cast, and content of the series, as long as advertisers agree advertise within the series.  It give the distributors of the series the flexibility of choosing an available network, and redistributing the series to have it re-air on another network for a second syndication.  It also gives Patterson creative control of the series, and pays much more in earnings than what similar shows pay that are owned by television networks pay.  The only major challenge to producing and distributing a series through this model is somebody has to pay for the show other than the network. “I’ve lost business, personal and intimate relationships pursuing this venture, because of the time that it took to raise the funding.  I put my personal life on hold, because I understand that it takes delayed gratification to elevate yourself and your causes to the next level,” says Patterson.

Although many people would have given up by now, Patterson’s tenacity appears to have been well worth it.  While working to raise the funds for the series, Patterson says that he refined the concept of the series to make it more appealing to viewers, advertisers and sponsors.  The company was able to receive another distribution agreement with projections of $8,144,500 million dollars per season, which includes both domestic and international distribution of the series for each season produced and distributed.  The new terms acquired by the production and distribution company that executed an 18-season agreement, with a minimum guarantee to pay Patterson and Project Child Support $3.64 million per season that originally totaled $65.5 million over 5 years (See: Original Deal).  If all 18 season were distributed under the same terms, the deal would pay gross earnings of $146,601,000 over the 5 years.  According to Patterson, even with the average production cost of $2 million per season, which equates to a total of $36 million in production costs over 5 years, the series would net over $120 million in profits.

“I think this story is news worthy, because it provides a insight into funding one's own television series.  I was eventually able to learn how to raise the funds for a television series, which is much different than the equity deals I implemented for my prior projects.  It takes having the production and distribution agreement that is acceptable to investors, and financial institutions. It also takes knowing where to go to acquire the funding, because I kissed a lot of frogs who represented they could fund the project, but were flakes.  Having raised millions for other ventures, I knew to avoid investor groups that required paying them an upfront fee.  Why would anyone make you pay them to fund you?  I also knew to avoid the deals that prevented me from knowing the names of the investors, and that required I receive an investment through an unknown third party.  These are the scams that I sifted through to find the ideal funding source.  I’m glad that most of the individuals who believed in the project did not give up me, because it’s not easy; if it were, everyone would be doing it.  Those who supported my initiatives throughout the years will financially benefit from the series through a trust that I have created.  I am also going to use what I’ve learned to help those with good television projects acquire funding, and I am going to also retire after spending the next 5 years producing this series,” says Patterson.

Now that Patterson and Project Child Support have executed the agreement for the funding of the series, it’s going to take about two weeks to get all of the accounts setup, and financial instruments issued to fund the production account for the series. The funding not only enables the company to produce the series, but parents whose cases are depicted in the series will receive the investigative, legal and collective services at no cost, because the program generates its earnings from the television revenue.  "The company is moving into a new office facility in New Jersey that much closer to Manhattan to enable the production of stories that are also in New York City to be produced much easier.  The series also provides a solution for parents who don't have the financial means to pay for the services necessary to resolve their child support dilemmas, which results in helping children", says Patterson.   

(c) Copyright 2017 by Project Child Support

FOR MORE INFORMATION, PARENTS MAY CONTACT
Project Child Support at (855) 851-HELP or (855) 851-4357

Saturday, April 9, 2016

Project Child Support Receives Another Endorsement For Helping A Parent Denied A Child Support Order



Immediate Release

Parent says the NJ Child Support Office dropped her case in 2014 for not having a valid address, never told her, and now admits they had the correct address.

Read: Endorsement Letter

According to the Office of Center For Family Policy and Practice there is over $116 billion owed in child support to over 13 million parents in the U.S.; along with an estimated 25 million additional parents without child support orders not receiving adequate child support (See: Change.org).  One such parent is Delores Bulloch, who has been trying to obtain a child support order from the father of her child for over 3 years and sought out the services of Project Child Support to assist her.

In January of 2016, Ms. Bullock contacted Project Child Support and said she needed to obtain assistance in acquiring a valid address of the father of her daughter so the child support office in Newark, New Jersey could properly serve him documents to appear in court. The address in their database was not a valid address.  Ms. Bullock stated: she was told by a caseworker at the child support office that she could not receive a child support order until the father of her daughter appeared in court. Ms. Bullock stated the child support office would not provide her with the address they attempted to serve the father of her daughter, so she requested that Project Child Support use its Filing Investigative Program resources to obtain a valid address.  After conducting an extensive investigation she was provided with a report that contained the information to enable the child support office to properly serve him.  “We were able to obtain his address, prior addresses, his social security number, date of birth, liens, common residencies, e-mail addresses, social media accounts, aliases, relatives’ addresses, relatives’ phone numbers, and corporate affiliations.   We also prepared an affidavit and provided the cross referenced information so her child support caseworker could have the family court properly subpoena him to appear in court,” says Kai Patterson, who is the CEO, President and Founder of Project Child Support.

According Ms. Bullock’s endorsement letter thanking Project Child Support; she was told the address obtained in the affidavit provided by Project Child Support contained the address the Child Support office originally had in their database.  Furthermore, in the endorsement letter she states: the caseworker told her they knew the address they had was valid but closed her case anyway.  In the endorsement letter, Ms. Bullock states she was told she has to start the process of filling for child support all over again with the address she obtained from Project Child Support’s investigation; even though they admitted they had the same address when they closed her case.  “Although the Office of Child Support Enforcement does a great job in collecting child support for millions of parents, if Ms. Bulloch’s statements are correct, it appears that someone dropped the ball on her case,” says Patterson.

According to a CNN Report published in 2012, 49% of all unpaid child support is absorbed by taxpayers, which amounted to $53 billion.  At the time the report was published, unpaid child support was $110 billion nationally.  In the last 5 years, it increased by $16 billion according to the reports; which means the problem is growing worse by the day.  “What bothers me most about this case is Ms. Bulloch is at risk of losing the time accrued from the date she filed. If she eventually gets a child support order; the court grants arrears from the date parents initially file.  Why not just reopen the case that was closed?  If she is not granted arrears from the date she originally filed because her case was dropped; she and her child will be cheated out of over 3 years of child support.  If that happens; we will provide her an attorney to file a motion to have the arrears added to her now support.  My second concern is if she will be granted a default order if the defended in this case (whom she is naming as the father) fails to accept or honor the new subpoena that should be issued with her new case,” says Patterson.

(c) Copyright 2016 by Project Child Support, Inc. - All Rights Reserved

FOR MORE INFORMATION, PARENTS MAY CONTACT
Project Child Support at (855) 851-HELP or (855) 851-4357