Stonelock Pictures president Beni Atoori and Cheyenne Studios president Al Jayez have formed the joint venture Tripod Pictures to produce, acquire and sell films.

The Los Angeles-based company claims that it has secured a $200m credit line from a European bank to fund productions, although it refused to name which bank. The company also plans to open an international sales division.

Tripod is already in post on two projects. Salomaybe is directed by and stars Al Pacino and is a retelling of Oscar Wilde's vice-ridden tale Salome. Good God Bad Dog is a short film that examines man's relationship with the idea of a god, and stars Tom Sizemore.

Upcoming projects include black comedy The Prince, The Pimp, The Jackal And The Spayed starring Kashmera Shah and Tamera Mowry and set for an Apr 23 start in Los Angeles, and Billy Zane's immigrant drama Theo, which is scheduled to shoot in Greece in mid-May.

Tripod Pictures' sales arm will get to work on the 1,200-title library owned by Frank Mayor's AIM. The company struck a worldwide distribution rights deal with Mayor on the library that includes remake rights.

Atoori formed Stonelock Pictures in 1994. He has arranged bridge financing on a number of films and served as producer on the 2001 drama Thirteen Conversations About One Thing.

Jayez comes from a real estate, manufacturing and fine arts background and founded Cheyenne Studios in 2000.