BTN Ballantyne Strong Inc

Strong Studios, a subsidiary of Ballantyne Strong, Inc. (NYSE American: BTN) (the “Company” or “Ballantyne Strong”), has optioned the rights to New York Times Bestselling author and Forbes contributing editor Monte Burke’s biographical novel, 4th and Goal: One Man's Quest to Recapture His Dream, to develop and produce a feature film, “4th & Goal,” based on the life of corporate executive, author, football coach Joe Moglia.

4th & Goal: One Man's Quest to Recapture His Dream follows Joe Moglia’s life from his roots growing up in a rough-and-tumble neighborhood in New York City to his rise through the high school and college football ranks to become the defensive coordinator at Dartmouth, and his dream of becoming a head coach of a college football team. But, often life has a way of interfering with dreams, and with a family on the way, Joe was forced to abandon that dream and enter corporate America to make ends meet. With no MBA but through a fundamental belief that he could succeed with grit and determination, he landed a job at Merrill Lynch and 25 years later stood at the zenith of the financial world as CEO of TD Ameritrade, one of the country's most successful financial firms. Then in 2008, Joe stunned the corporate world and voluntarily walked away from his lucrative job to pursue the dream he had abandoned… becoming a college football head coach and ultimately, eight-time Hall of Fame inductee.

As Burke stated, “4th & Goal: One Man's Quest to Recapture His Dream is a detailed account of Joe Moglia's amazing and uplifting life story, his quest to achieve his ultimate dream and its stunning conclusion. It's a tale of overcoming adversity...of never giving up...of never losing sight of one's true goals in life. It is a story, quite literally, of a dream deferred, but never forgotten.”

Emmy Award winning writer/ director Todd Robinson (“The Last Full Measure,” “Phantom,” “White Squall,” “Lonely Hearts”) will pen the screenplay and direct. Joe Moglia, Ballantyne Strong’s Chairman Kyle Cerminara and CEO Mark Roberson, and Strong Studios’ President David Ozer (“Willy’s Wonderland,” “Trigger Point”) serve as Executive Producers. Monte Burke to serve as an Associate Producer. Strong Studios is beginning discussions with potential distributors, broadcasters and streamers.

Kyle Cerminara, Chairman of Ballantyne Strong & Co-Founder of Fundamental Global stated, “The story of Joe Moglia’s life is a singularly inspirational tale reminding us that with enough grit, determination, and sacrifice, the American Dream is within reach and that anything is possible. I’ve been tremendously lucky to count Joe as a friend and colleague through our decadelong partnership with Fundamental Global, and the energy exuded from my meetings with Joe is a feeling I’m incredibly excited to share with audiences as they leave theaters empowered to bet on themselves.” Continued Cerminara, “Little could be more deeply personal or make me more proud than to further collaborate with Joe to help bring to theaters Monte Burke’s beautiful account of Joe’s meteoric rise to mountaintops of both finance and football. I can’t wait for the premiere.”

Joe Moglia, commented, “I am extremely grateful for the family, friends and colleagues that have played an integral role in my journey. Even with all of the twists and turns along the way, I wouldn’t change anything. I look forward to working with Kyle Cerminara and the Strong Studios team to create a special movie that will hopefully inspire people of all ages to never give up on their dreams but to understand that sometimes it takes time…a lot of time and patience.”

David Ozer, President of Strong Studios & Executive Producer said, “4th & Goal is a powerful tale of one man’s drive and determination to see a lifelong dream realized, and I look forward to working with Joe, Todd Robinson and our production team to ensure that we stay true to Joe’s story and deliver a compelling and inspiring tale of recapturing a dream.”

Robinson shared, “I’ve known Joe Moglia for a long, long time, and I’ve admired his many achievements in both business and on the football field. It wasn’t until last year at a player’s reunion, however, that I realized just how deeply his wisdom and mentorship had impacted generations of young men. His tough-love commitment and sacrifice to shaping lives are both rare and powerful and certainly worthy of celebrating on screen.”

About Strong StudiosStrong Studios, headquartered in New York, NY, is a subsidiary of Ballantyne Strong, Inc.’s (NYSE American: BTN) Strong Entertainment segment. Strong Studios develops and produces original feature films and television series, as well as acquires third party rights to content for global multiplatform distribution. The new studio launched in March 2022 with an IP development slate acquisition and an initial distribution agreement with Chicken Soup for the Soul Entertainment’s Screen Media for two new scripted series, the supernatural horror “Safehaven,” and the dramedy “Flagrant,” with Michael Rapaport, which have both been officially greenlit for production this year. Screen Media will distribute both series, with their streaming services Crackle, Popcornflix, and Chicken Soup for the Soul having first rights to premiere. Additional series in Strong Studios’ development and production pipeline include “Shadows in the Vineyard,” starring Judith Light and Noah Wyle; the drama series, “Heartbeat,” co-created by legendary DJ couple Kiss and M.O.S.; and the horror series “MidNightMares.”

About Ballantyne Strong, Inc.Ballantyne Strong, Inc. (www.ballantynestrong.com) is a diversified holding company with operations and holdings across a broad range of industries. The Company’s Strong Entertainment segment is the largest premium screen supplier in North America, provides technical support services and related products and services to the cinema exhibition industry, and recently launched its studio operations to produce content for streaming and other entertainment outlets. Ballantyne Strong holds equity stakes in Firefly Systems, Inc., GreenFirst Forest Products Inc. (TSX: GFP), and FG Financial Group, Inc. (Nasdaq: FGF), as well as real estate through its Digital Ignition operating business.

Forward-Looking StatementsIn addition to the historical information included herein, this press release includes forward-looking statements, such as management’s expectations regarding its portfolio companies, the Company’s intent to pursue an initial public offering and separate listing of its Entertainment business, as well as future sales, the impact, length and severity of the COVID-19 pandemic, general economic recovery from the effects of the COVID-19 pandemic, and the adequacy of the actions taken in response to the pandemic, which involve a number of risks and uncertainties, including but not limited to those discussed in the “Risk Factors” section contained in Item 1A in the Company’s Annual Report on Form 10-K for the year ended December 31, 2021 filed with the SEC on March 24, 2022, and the following risks and uncertainties: the negative impact that the COVID-19 pandemic has already had, and may continue to have, on the Company’s business and financial condition; the impact on the global economy and supply chains of the ongoing military conflict in Ukraine and the sanctions related thereto; the Company’s ability to maintain and expand its revenue streams to compensate for the lower demand for the Company’s digital cinema products and installation services; potential interruptions of supplier relationships or higher prices charged by suppliers; the Company’s ability to successfully compete and introduce enhancements and new features that achieve market acceptance and that keep pace with technological developments; the Company’s ability to successfully execute its capital allocation strategy or achieve the returns it expects from these investments; the Company’s ability to maintain its brand and reputation and retain or replace its significant customers; challenges associated with the Company’s long sales cycles; the impact of a challenging global economic environment or a downturn in the markets (such as the current economic disruption and market volatility generated by the ongoing COVID-19 pandemic and ongoing military conflict in Ukraine and related sanctions); economic and political risks of selling products in foreign countries (including tariffs); risks of non-compliance with U.S. and foreign laws and regulations, potential sales tax collections and claims for uncollected amounts; cybersecurity risks and risks of damage and interruptions of information technology systems; the Company’s ability to retain key members of management and successfully integrate new executives; the Company’s ability to complete acquisitions, strategic investments, entry into new lines of business, divestitures, mergers or other transactions on acceptable terms, or at all; the impact of the COVID-19 pandemic on the Company’s portfolio companies; the Company’s ability to utilize or assert its intellectual property rights, the impact of natural disasters and other catastrophic events (such as the ongoing COVID-19 pandemic and ongoing military conflict in Ukraine and related sanctions); the adequacy of insurance; the impact of having a controlling stockholder and vulnerability to fluctuation in the Company’s stock price. Given the risks and uncertainties, readers should not place undue reliance on any forward-looking statement and should recognize that the statements are predictions of future results which may not occur as anticipated. Many of the risks listed above have been, and may further be, exacerbated by the ongoing COVID-19 pandemic, its impact on the cinema and entertainment industry, and the worsening economic environment. Actual results could differ materially from those anticipated in the forward-looking statements and from historical results, due to the risks and uncertainties described herein, as well as others not now anticipated. New risk factors emerge from time to time and it is not possible for management to predict all such risk factors, nor can it assess the impact of all such factors on the Company’s business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements. Except where required by law, the Company assumes no obligation to update, withdraw or revise any forward-looking statements to reflect actual results or changes in factors or assumptions affecting such forward-looking statements.

For Strong Studios Investor Relations Inquiries:John Nesbett / Jennifer BelodeauIMS Investor Relations203-972-9200jnesbett@institutionalms.com

For Strong Studios Media Inquiries:

Michelle OrsiThree.Sixty Marketing + Communications310-418-6430michelle@360-comm.com

For Fundamental Global:Roger SauerhaftPenny Bridge Communications914-804-9670Roger@pennybridgepr.com

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/9e4b446d-7f44-470e-8670-6501221c8512