PALM SPRINGS, Calif., Feb. 19, 2016 /PRNewswire/ -- (OTC: WRFX) WorldFlix, Inc.'s CEO, Brad Listermann, is pleased to announce that PCAOB accounting firm Anton & Chia, LLP has been engaged to audit financial statements of our subsidiary App Farm. App Farm finds, selects and grows successful apps for smartphones, tablets and iPhones. Mobile apps development has become a booming field in recent years with experts predicting a continued trend of solid growth and revenue in the billions. The most recent App Farm venture is SWANTRY, the app for protecting children on smart devices. (swantry.com)
Anton & Chia, LLP will audit App Farm's financial statements so that we can proceed with filing a registration statement with the subsidiary and once viable, App Farm will spin off to become a reporting issuer.
CEO Brad Listermann states, "The spin-off is necessary allowing for the monetization of consulting time and the recapture of the equity cost to WorldFlix, Inc. for funding the subsidiary during its incubation period. The recapture of labor and capital costs, plus a significant rate of return on investment, are achievable primarily through a simple change in valuation method, from that of a subsidiary company to one of a PUBCO."
Brad Listermann further states, "We are committed to attaining more assets and completing additional forward acquisitions using our convertible preferred securities as currency. Many of the assets and businesses that we are looking to purchase, and audit, will be revenue generating. This revenue will flow through the preferred securities thereby creating dividends for the Preferred Shareholders in WorldFlix and the subsidiaries. This will discourage the convertibility of the preferred securities after the maturity date. I am pleased to work with Anton & Chia, LLP as they have a great deal of experience which is very necessary when we start to audit our growing wholly-owned subsidiary partners."
About WorldFlix, Inc.: WorldFlix, Inc. is newly emerging as a holding company targeting the acquisition of undervalued, niche companies with high growth potential, income-producing commercial real estate properties and high return investments all designed to pay a dividend to our shareholders.
App Farm's (WorldFlix: WRFX) ultimate goal is to trade successfully on the public markets as a recognized name in the app software and now, the gaming industry. The company believes that through their celebrity relationships and entertainment contacts (WEM – WorldFlix Entertainment Management), they can create and promote apps for a wider, more successful reach.
WRFX cautions that the statements made in this press release constitute forward-looking statements, and not guarantees of future performance and actual results or developments may differ materially from the projections in the forward-looking statements. Forward-looking statements are based on the estimates and opinions of management at the time the statements are made.
SOURCE WorldFlix, Inc.