KELOWNA, BC, May 21, 2013 /PRNewswire/ - Appiphany Technologies Holdings Corp. ("Appiphany") (OTCBB:APHD) would like to inform shareholders of the plan to finance and develop the MMA Animals TM cartoon series.
The strategy developed by the management of Appiphany calls for the creation of a new entity in the United Kingdom which Appiphany and its European joint venture partner will manage. This new company will apply to HM Revenue & Customs (HRMC) to become eligible to issue tax credit certificates in the United Kingdom under the HMRC Enterprise Investment Scheme. Once approved, any investment into the new UK based company will be eligible to receive a 30% tax credit and traditionally there has been a very strong demand for these types of investments. Once the necessary capital is raised through the utilization of the scheme then the UK entity will proceed to develop and mass distribute the MMA Animals TM cartoon series while paying a dividend and licensing fee to Appiphany.
The advantages of this type of structure are: there is no dilution to the existing shareholder of Appiphany; Appiphany will maintain creative control, the ability to issue tax credits will assist with raising capital as there is a high demand for the HMRC tax credits; and Appiphany will participate in the upside of the project through dividends and the licensing fees with little risk to no risk.
"The HMRC Enterprise Investment Tax Credit Scheme is an extremely effective way to raise capital" stated Richard Smith, Secretary/Treasurer of Appiphany. "Traditionally there has been a very high demand for these types of investments and we plan to capitalize on this through our relationship with our European joint venture partner who has extensive experience funding through this process. This strategy will protect our shareholders from any significant dilution while allowing us to participating in the large upside of the MMA Animals TM cartoon project." concluded Mr. Smith.
About Appiphany Technology Holdings Corp.
Appiphany Technologies commenced operations as a diversified technology company in June of 2009. Appiphany Technologies Holdings Corp is a fully reporting public company whose stock trades on the Over the Counter Bulletin Board under the stock symbol "APHD". The scope of the business is based around the use of new technologies in the consumer market. At the inception of the company the focus was on third-party application development for the iPhone and iPod Touch manufactured and marketed by Apple, Inc. This lead to endeavoring the CG animation and gaming industries. Appiphany intends on diversifying its involvement in the various industries where technologies blend with entertainment. To date, Appiphany has designed and developed a variety of applications that are currently available for purchase through Apple, Inc. The evolution of the Company will be integrating third-party accessories to function with applications in the toys to life category. We aim to maximize user experience while exploring the innovative technological possibilities of today. Currently our focus is on developing a carton series and spin off products for our own brand MMA Animals TM the first children's mixed martial arts brand. While building these new products for MMA Animals we will uncover new proprietary processes that will be developed and resold as services for businesses. In addition, we are constantly evaluating the feasibility of providing additional services including web development, interface design, hosting, marketing, and new business consulting focused on technology implementation.
Appiphany 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.
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 Appiphany's filings with the SEC which may identify specific factors that may cause actual results or events to differ materially from those described in the forward-looking statements.
SOURCE Appiphany Technologies Holding Corp.