Barcelona genre producer M’s Entertainment has set its second feature: “Baskin.”

The film is hyper low-budget, costing under $500,000, and fully financed by M Entertainment via private equity. By targeting theatrical but also robust VOD play, M’s Entertainment is breaking in a new production/distribution/promotion model for genre movies in Spain. Turkish helmer Can Evrenol will direct from his own screenplay, based on his 2013 short.

M’s Entertainment bowed its production slate with “Asmodexia,” for which XYZ Films reps U.S. and Canada rights.

M’s Entertainment topper Emili Pons produces; Mike Hostench and “Asmodexia” director Marc Carrete exec produce.

“Baskin’s” plot kicks in when a police squad receives a latenight call urging them for backup in an abandoned house in the outskirts of Istanbul. This leads to an unspeakable nightmare.

“Baskin” will shoot in Turkey late 2014 with local crew and cast. At the same time, M’s Entertainment on June 23 is launching worldwide DearFear, a horror content online platform.

Raven Banner handles international sales rights on “Asmodexia,” which world preemed last April at the Brussels Fantastic Film Festival.

Emilio Mayorga contributed to this report.