This was a 36 page promotional book that was supposed to be given out to children at movie theatres in April 1939. Plans to distribute the comic never materialized because the series was deemed to be unsuccessful. The comic was found in the office of the departed publisher of the comic, and was a great deal of hype when it was first rediscovered in the late 1970's.
As seen on the back cover this book was produced by Llyod Jaquet's Funnies Inc. studio. There is a rumor that Amazing Man #5 from Centaur which was also created by funnies Inc. picks up the numbering from this series..
This comic featured the first appearance of Bill Everett's legendary creation, Prince Namor the Sub-Mariner in an eight page black and white story. Six months before Marvel Comics #1 was published (the comic people believed Namor first appeared in up until then). The comic is extremely rare, with only 6 to 9 known copies existing.
Three more comic covers where found for Motion Picture Funnies Weekly, issue 2, 3 and 4, but these where never made into a real comic book. Making number 1 the only 'real' whole comic in the series and one of the rarest comics in history.