Rangemore sets six month objectives
Rangemore sets six month objectives
MIAMI BEACH, FL, July 24, 2013 /PRNewswire/ - Rangemore Film Productions Corp. ("Rangemore") (OTCPINK:RANF) today announces its specific objectives for the next six months of the
2013 fiscal year. It is the intention of Rangemore's management to set
measurable objectives and to report progress toward these objectives in
each quarterly report. For the up-coming six months ending December
2013 the objectives are:
-- To become a "Current Information" filer with OTC Markets;
-- Maintain "Current Information" filer status with OTC Markets;
-- Review the process and cost of becoming fully reporting with
the SEC;
-- If feasible, commence the process to become fully reporting
with the SEC;
-- Close acquisition of first studio property to service the Asian
film industry market;
-- Aggressively market the newly acquired property in Asia by
attending high profile industry events such as:
o October 7-10: Busan Asian Film Market (Busan, South Korea)
o October 11-21: Hawaii International Film Festival/EuroCinema Hawaii
o October 22-24: TIFFON (Tokyo, Japan)
o December 10-12: CineAsia (Hong Kong, China)
-- Complete due diligence on second studio acquisition in Asia;
-- Commence negotiation for acquisition of second studio property
in Asia;
-- Acquire revenue sharing royalties in at least four independent
film projects;
-- Investigate the possibility of financing and producing own film
and television productions.
Management's main focus will be to get established in Asia. Not only are
properties significantly cheaper than in Europe or North America but
the Asian film industry is growing at an exponential rate never
experienced before in the history of filmmaking. Recognizing that
there are few quality facilities to service this growth, Rangemore is
currently negotiating to acquire its first Asian based property and
once it is operational will be aggressively looking for other potential
acquisitions to service this expanding market.
"We are very excited about the short and long term prospects for
Rangemore" stated Andrew McLaughlin, CEO of Rangemore. "The
opportunities in Asia are like nothing the film industry has ever seen
and it is our plan to position Rangemore to take full advantage of this
rapidly evolving market" continued McLaughlin.
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 Auction
International Inc'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 please call 786.924.6579On the web go to www.rangemorefilmproductions.com
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