Tarek Kirschen acquired 50.12% stake in Carolco Pictures, Inc. (OTCPK:CRCO) from Sam Lupowitz and other shareholders on January 1, 2016. Tarek Kirschen acquired 30 million common shares and 5 million Series A Preferred shares of Carolco Pictures. Following the transaction, Tarek Kirschen will hold a majority of the issued and outstanding voting capital shares Carolco Pictures. Sam Lupowitz resigned as a member of the Board of Directors of Carolco Pictures and as an Officer of Carolco Pictures. Tarek Kirschen was appointed as Chief Executive Officer, Chief Financial (Accounting) Officer and a member of the Board of Directors of Carolco Pictures.

Tarek Kirschen completed the acquisition of 50.12% stake in Carolco Pictures, Inc. (OTCPK:CRCO) from Sam Lupowitz and other shareholders on January 1, 2016.