Pacific Shore Pictures has become the newest kid on Hollywood’s indie block with plans to put out three films a year in the $ 3 million budget range.
PSP and its foreign sales company, Pacific Shore Media, officially announced their formation Wednesday under production exec Lucas E. Devenn and Hong Kong financier Richard Sheng, partners in the venture.
The small indie also trumpeted its first effort, “Dark Side of Genius,” a psychological drama set in the L.A. art community. The pic, starring Finola Hughes (“Staying Alive,””Aspen Extreme”) and Seymour Cassel (“Indecent Proposal”), is now in post-production.
In an unusual bonus for any indie, much less a startup, Sheng also announced that he will fully finance each of the productions with an eye toward selling the completed pix instead of struggling to arrange pre-sales.
“He is willing to invest this amount of money because he thinks he can sell them,” said PSP spokesman Dale Olson. “He doesn’t think the pre-sales will make enough.”
The newborn indie’s next project is “Kindness of Strangers,” a film noir thriller.