Rangemore's common shares now quoted on OTC Pink-Current Information Tier
Rangemore's common shares now quoted on OTC Pink-Current Information Tier
MIAMI BEACH, FL, Aug. 12, 2013 /PRNewswire/ - Rangemore Film Productions Corp. ("Rangemore") (OTCPINK:RANF) announces that effective immediately, the Company's common shares are
now quoted on the OTC Pink - Current Information Tier in the OTC Pink
marketplace.
"We are very pleased to have met the first of our six month objectives"
stated Richard Smith, Director and Secretary/Treasurer of Rangemore.
"The amount of work that that went into becoming 'Current' was
significant. We completed a comprehensive review of the books and
records and prepared detailed working papers for each month going back
to 2011. We did this in anticipation of completing an audit as part of
the process to become fully reporting with the Securities and Exchange
Commission and now that we have obtained 'Current Information' status
we will be starting that process." continued Mr. Smith.
In addition, the Management of Rangemore would like to address the
inaccurate statements being made about the Company's share structure.
As disclosed in the following documents (available for download at www.otcmarkets.com): Attorney Letter - published August 7, 2013; June 30, 2013 Quarterly
Report - published July 9, 2013; and June 30, 2013 Interim Financial
Statement - published July 8, 2013; the share structure is clearly
defined as following:
Common shares:
Authorized: 2,000,000,000
Issued and outstanding: 817,834,722
Preferred shares:
Authorized: 100,000,000
Issued and outstanding: 42,942,000
There are currently no plans to restructure the common shares of the
Company.
About Rangemore Film Productions Corp. (Formerly Auctions International
Inc.)
Rangemore Film Productions Corp. is a publicly traded company who in the
business of operating film studios and co-producing independent film
productions.
Rangemore is currently in the process of identifying and acquiring
studio suitable properties in four key markets: Asia; South Africa;
Europe and North America. Potential acquisition sites will have to
meet certain criteria including: a low cost per square foot; easy
conversion into usable studio space; established local infrastructure;
establish local film industry; limited or non-existent competition;
available government tax incentives and mortgage financeable. The
identified acquisitions will be either purchased outright utilizing
debt funding and tax credit incentive programs or leased on a long term
basis.
Along with the studio operations, Rangemore will be actively investing
in and co-producing independent film productions. Currently Rangemore
has a preliminary agreement to participate in the royalties of an
independent film production being developed in the United Kingdom. The
agreed upon terms will allow Rangemore to purchase interest in the film
royalties in exchange preferred shares for up to a maximum of 10% of
the total royalties. The final terms and a definitive agreement are in
the process of being prepared.
Rangemore Film Productions Corp. is a Development Stage Company, as
defined by Financial Accounting Standards Board ("FASB") Accounting
Standards Codification ("ASC") 915, Development Stage Entities, and has
not yet generated significant revenues from their intended business
activities.
Forward Looking Statements
Except for the historical information contained herein, the matters
discussed in this press release are forward-looking statements. Actual
results may differ materially from those described in forward-looking
statements and are subject to risks and uncertainties. See Rangemore
Film Productions Corp.'s filings with OTCMarkets which may identify
specific factors that may cause actual results or events to differ
materially from those described in the forward-looking statements.
SOURCE Rangemore Film Productions Corp.
Rangemore Film Productions Corp.
CONTACT: For more information on Rangemore please call 786.924.6579.On the web go to www.rangemorefilmproductions.com.
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