Rangemore's common shares to be quoted on OTC Pink-Current Information Tier

MIAMI BEACH, FL, Aug. 9, 2013 /PRNewswire/ - Rangemore Film Productions Corp. ("Rangemore") (OTCPINK:RANF) announces that effective Monday, August 12, 2013, the Company's common shares will be quoted on OTC Pink - Current Information Tier.

As part of ongoing qualification Rangemore must:

  1. For each fiscal quarter end, file a Quarterly Report with OTC Markets within 45 days of the quarter end. (A separate Quarterly Report is not required for the 4th quarter.) The Quarterly Report should include:
    • Information in accordance with the OTC Pink Basic Disclosure Guidelines.
    • Quarterly financial statements including: Balance Sheet, Income Statement, Statement of Cash Flows, and Notes to Financial Statements.
  2. For each fiscal year end, file an Annual Report within 90 days of the fiscal year end date.  The Annual Report should include:
    • Information in accordance with the OTC Pink Basic Disclosure Guidelines.
    • Annual financial statements including: Balance Sheet, Income Statement, Statement of Cash Flows, Notes to Financial Statements, and Audit Letter (if the financial statements are audited).
  3. If financial reports are not audited by a PCAOB registered audit firm, an Attorney Letter must accompany the Annual Report within 120 days of the fiscal year end.

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.




Custom Packages

Browse our custom packages or build your own to meet your unique communications needs.

Start today.

 

PR Newswire Membership

Fill out a PR Newswire membership form or contact us at (888) 776-0942.

Learn about PR Newswire services

Request more information about PR Newswire products and services or call us at (888) 776-0942.