Budding Film Mogul Bites The Dust!

3 years ago, I was approached to invest in a new film production called "The Mortician". I was told that it was a high risk investment, as there is many hurdles to overcome, before the film is ultimately released.

Most films fall by the wayside before they even get to filming! With "The Mortician" everything seemed to be going well until last November, when we were invited to see a private screening of "The Mortician" at the BAFTA offices in London. Then we were told the film company was still trying to raise another £500,000 to pay their creditors.

Even though the film was completed and ready for release, we were told it was to be shown at the Berlin Film Festival, where negotitations would be made for the distribution rights around the world. Once the festival was over, I was expecting news of the films imminent release. Instead there was a sudden silence.

About a month later, I started to receive emails from one of Full Circle's directors informing me that he was starting up a new film company, and I was invited to come along and invest in the new project! I am not that stupid to be bitten twice!

I then tried to go to the web site of Full Circle Films, but couldn't gain access to it. I wasn't sure if it was a problem with my computer, or the website itself. So I left it alone, and continued to wait for some news to appear.

Today, I tried again; and again, I couldn't gain access to the Full Circle website. I then started a more indepth search and came across a statement published earlier this month in the London Gazette that Full Circle Films has ceased trading!

It now seems increasingly likely that I will never see my investment returned, unless the film gets a cinema or DVD release. The only saving grace is I got some money back from the Government via the EIS tax rebate scheme. I only decided to take this risk as the money I had in savings was forcing me into the higher (40%) tax bracket, and this was a way of turning the tables on the Government. Had the venture worked, I would have been happy with a small profit. Now, all I can say is I have learned an expensive, but valuable lesson, and I am glad that I invested only the minimum amount allowed, so my loss is not going to be as big as it might have been if I had listened to the hype about how succussful the film was going to be, and invested more money!

Now I will have to make money the hard way, by working for it!