The Chosen, LLC was formed as a Utah limited liability company on October 24, 2017 solely to develop and produce an episodic television series entitled âThe Chosenâ (the âSeriesâ), which is intended to be distributed through online video streaming services, television and home video. The story ideas and concepts upon which the Series is based were created by Dallas Jenkins, who received a 49% ownership interest of Common Units in the Company in exchange for all of his rights in and to his story ideas and concepts. We intend to use the proceeds from this Offering to fund the development and production of Season 1 of the Series. The screenplay for the pilot episode of Season 1 was written by Dallas Jenkins, Ryan Swanson and Tyler Thompson. The Company entered into work-for-hire agreements with each writer, pursuant to which the Company exclusively owns all right, title and interest in and to the pilot episode screenplay. The Company has entered into similar work-for-hire agreements with the writers for two additional episodes of Season 1 and will enter into similar work-for-hire agreements with the writers for the remaining episodes of Season 1. The Company will exclusively own the individual screenplays for each episode of Season 1. The Series is loosely inspired by a film entitled âThe Shepherd.â The Company exclusively owns all right, title and interest in and to the copyrights and all other rights in and to The Shepherd pursuant to the Assignment and Assumption Agreement (the âAssignment Agreementâ) between the Company and Creatus, LLC. Pursuant to the Assignment Agreement, Creatus, LLC assigned its respective rights in and to The Shepherd to the Company in exchange for $100,000.
