Rangemore corporate summary for summer 2013
2013年9月30日 - 10:15PM
OTC Markets
Rangemore corporate summary for summer 2013
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Rangemore corporate summary for summer 2013
PR Newswire
MIAMI BEACH, FL, Sept. 30, 2013
MIAMI BEACH, FL, Sept. 30, 2013 /PRNewswire/ - Rangemore Film
Productions Corp. ("Rangemore") (OTCPINK:RANF) wishes to
summarize in chronological order the corporate events that
occurred during the summer months of 2013:
May 14, 2013: Rangemore announced
that management had approved a plan to
commence the search for potential acquisition to expand the
studio
operations. The expansion plan would identify suitable
properties in
four key markets: Asia,
South Africa, Europe and North
America.
May 24, 2013: Rangemore announced
that it had come to a preliminary
agreement to participate in the royalties of a major independent
film
production currently under development in the United Kingdom. The
agreed upon terms allow Rangemore to purchase up to 10% interest in
the
film's revenues.
June 18, 2013: Management announced
the initial results identifying
suitable properties for acquisition under the previously
announced
studio expansion plan. The studio expansion plan is now well
underway.
August 12, 2013: Rangemore
successfully quoted its common shares on the
OTC Pink - Current Information Tier of the OTC Pink
Marketplace.
August 20, 2013: Rangemore signed a
revenue sharing agreement with
Appiphany Technologies Holdings Inc. to purchase up to 10% of the
net
revenues generated by the first ten episodes of the MMA Animals
cartoon
series.
September 3, 2013: Rangemore
announced that it had commenced the process
to become fully reporting with the Securities and Exchange
Commission.
September 11, 2013: MMA Animals was
featured on the CBC Radio talk show
"Daybreak South".
September 12, 2013: Rangemore
announced that it had reduced its accounts
payable by over $85,000 through debt
settlement eliminating almost all
third party debt. Rangemore is almost completely debt free with
the
exception of amounts owing to related parties. The shares
were issued
from treasury at par value or $0.001
which was double the current
market price and are subject to the standard hold periods enforced
by
the SEC.
"We continued to be productive even through the slow summer
months"
stated Andrew McLaughlin, CEO of
Rangemore. "We started the process to
expand the studio operations, signed two revenue sharing
agreements,
became a 'Current Filer' with OTC Markets, eliminated almost all of
our
third party debt and commenced becoming fully reporting with the
SEC.
We are right on schedule with our six month goals. Although
we
continue to be disappointed with the performance of our share
price, we
are confident that our efforts will be rewarded in the long
run. We
thank all of our shareholders for their continued support"
continued
Mr. McLaughlin.
About Rangemore Film Productions Corp.
Rangemore Film Productions Corp. is a publicly traded company who
is 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 revenue sharing agreement with an independently produced
feature
film and a second agreement with a ten episode cartoon
series.
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 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.
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