CAROLCO PICTURES, INC. (OTCMKTS:CRCO) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers

CAROLCO PICTURES, INC. (OTCMKTS:CRCO) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers

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ITEM 5.02

DEPARTURE OF DIRECTORS OR PRINCIPAL OFFICERS; ELECTION OF
DIRECTORS; APPOINTMENT OF PRINCIPAL OFFICERS; COMPENSATORY
ARRANGEMENTS OF CERTAIN OFFICERS.

Effective as of February 27, 2017, the Board of Directors (the
Board) of Carolco Pictures, Inc. (the Company), appointed Frank
M. Esposito to the Board. Mr. Esposito is currently the Companys
Chief Legal Officer.

Mr. Esposito will receive no additional compensation for his
services as a member of the Board, but Mr. Esposito is the sole
member of Esposito, PLLC (Esposito Partners), which is a
consultant to the Company, and Esposito Partners is paid certain
amounts for such services to the Letter Agreement between the
Company and Esposito Partners dated June 29, 2016 (the Letter
Agreement).

The Letter Agreement is attached as Exhibit 1.1 to the Form 8-K,
filed by the Company on July 6, 2016 (the Form 8-K), and is
incorporated herein by reference. The disclosure regarding the
payments to Esposito Partners set forth in the Form 8-K is also
incorporated herein by reference.

Mr. Esposito will not currently serve on any committees of the
Board.

ITEM 9.01 FINANCIAL STATEMENTS AND EXHIBITS
Item

Description

10.1

Letter Agreement between Carolco Pictures, Inc. and
Esposito Partners, PLLC, (incorporated by reference to
Exhibit 1.1 to the Form 8-K filed on June 6, 2016).

99.1 Press Release dated February 27, 2017.


About CAROLCO PICTURES, INC. (OTCMKTS:CRCO)

Carolco Pictures, Inc. is a feature film and television specials production company. The Company is engaged in the sale of programming for television and other media. The Company seeks to finance, produce and distribute one or more television series and feature films to be licensed for exploitation in domestic and international theatrical, television, cable, home video and pay per view markets. The Company, through its subsidiary, High Five Entertainment, specializes in the development and presentation of television programming, including series, specials, pilots, live events and award shows.

CAROLCO PICTURES, INC. (OTCMKTS:CRCO) Recent Trading Information

CAROLCO PICTURES, INC. (OTCMKTS:CRCO) closed its last trading session 00.000 at 0.200 with 200 shares trading hands.

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