LOS ANGELES, Oct. 27, 2015 /PRNewswire/ -- WorldFlix, Inc.'s (OTC: WRFX) CEO Brad Listermann announces that WRFX will begin implementation of a new plan to solidify the Companies pathway to success. The Company has already taken steps to enhance its public disclosure on OTC Markets by remaining current in its reporting obligations. Corporately, WRFX will amend its Articles of Incorporation and Corporate Bylaws to create various series of Anti-Dilutive Convertible Preferred Shares to protect its majority stakeholders. These securities will soon become available to the common shareholders. The mandate, moving forward, is to start reorganizing the limited debt on the balance sheet, so that the company is debt free. The next part of the plan is to enhance the Net Stock Holders Equity in the Company by acquiring profitable businesses and or assets, using the Convertible Preferred Stock as currency.
Brad Listermann, CEO of WorldFlix, Inc. says, "This new plan is absolutely necessary in order to attract large investments into WRFX. We will also be able to increase investor confidence, if we commit ourselves to remove affiliate & non-affiliate debt, and build net stockholders equity on the balance sheet. This is a process that we are committed to forging ahead with, our resolve to complete those tasks is a function of effort, teamwork and time."
He further states, "We have hired a team of very qualified professionals that will implement this strategy and our mandate, moving forward, while we add credible accounting and legal representation to make good on this agenda. Additionally, WRFX will seek to have more of a transparent dialogue with its investors, as to the clarity of implementing those objectives. As we meet certain milestones, the investment community will be made more thoroughly aware through public disclosure and record."
About the company: WorldFlix is a publicly traded company on the OTC Markets (WRFX). WorldFlix is - App Farm (The App acquiring and Development Company with the recent announcement about a new game platform, DROBBITS.com) and WorldFlix Entertainment Management (WEM), the entertainment-management company. "Imagine Apps endorsed by celebrities or product-placed into a movie that's where the dynamics of WorldFlix combine."
FORWARD-LOOKING STATEMENTS: "Safe Harbor" statement under the Private Securities Litigation Reform Act of 1995: This press release contains forward-looking statements within the meaning of the Securities Litigation Reform Act of 1995. These statements are based on current expectations, and are to a certain degree uncertain. Words such as expects, anticipates, intends, believe, plan, will and similar words are expressions intended to identify these forward-looking statements. These statements involve risk and subsequently are difficult to evaluate. Actual results may vary from descriptions herein due to many factors including but not limited to changes in business conditions, changes in laws and regulations, problems encountered in exploration and obtaining permits, changes in the competitive environment, technological advances, shortages of skilled workers, the need for additional capital and other risks listed in the company's Securities and Exchange Commission filings under "risk factors" and elsewhere. Forward-looking statements speak only as of the date they were made, and the company is under no obligation to update them.
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SOURCE WorldFlix, Inc.