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American Audio Entertainment Drops Backer Following Lawsuit Agreement


 
 
AAE Facebook photo
AAE Facebook photo
PRLog - May 14, 2014 - PHILADELPHIA -- Northeastern production company American Audio Entertainment (Tartaglia Endeavors) has been stirring up some buzz following their most recent NRG show in Philadelphia. Since January of this year, AAE has launched two EDM (Electronic Dance Music) shows in the Philadelphia area which were all company (self) funded while having multiple business backers seated at a board managing position. The company is split up into 6 divisions each holding 1-2 backers (Production, Installation, Touring, Management, Design, Concerts) and each backer has equal rights to their designated bill. In the last few weeks, one of the production backers (Name Withheld- Member PSL Group) spoke out against AAE President stating that he was not compensated properly following payouts of each event that were funded by another division which he was allegedly not entitled.

“{Name Withheld} was under contract for debt funding the production division of AAE which includes, contracted only sound, lighting, and general production services. As our shows were all self hosted, the production holders had no part of any NRG concert shows. Our concert division has its own designated production team, which is funded entirely on its own and has no contracted backers and/or counsel other than our recent partnership with Skyfall Entertainment for EDM shows only. “ -AAE President.

After numerous conflicts between both parties, and threats to remove all initialed funding & connections with PSL with interest demands from the backer , AAE brought legal action against the PSL member which he quickly denied and discussed out-of-court settlement to be removed from the companies production board with no capital loss or legal handling. The PSL member refused to comment on the recent conflict but it has been made public by AAE that the backer will be issued his initial capital investment of $48,500, bearing no interest, and to be deemed a no loss investment between both parties.

AAE has made some shocking moves in recent months, but according to the company they plan to “make more changes like this as time goes on to ensure that the company continues to grow and build strong relationships with others who could be an asset to the market”

For press or info, you may contact AAE directly at Info@Americanaudioentertainment.com.

Contact
American Audio Entertainment LLC
***@americanaudioentertainment.com

Photo:
http://www.prlog.org/12323512/1

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Contact Email:
***@americanaudioentertainment.com Email Verified
Source:American Audio Entertainment
City/Town:Philadelphia - Pennsylvania - United States
Industry:Entertainment, Event
Tags:American Audio Entertainment, NRG Concerts, NRG Concert Series
Shortcut:prlog.org/12323512
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