DALLAS, Jan. 3, 2020 /PRNewswire/ -- WSGF, Inc. (aka World Series of Golf, Inc.) (USOTC: WSGF) today announced the acquisition of a shared economy technology business that owns a $10 million real estate backed asset. The WSGF target acquisition is a shared economy prequel to existing shared economy applications such as Airbnb and Bookings.com. Instead of connecting vacation property owners with would be vacation renters through applications like Airbnb and Bookings.com, the WSGF acquisition is deploying an application that empowers people to become vacation property owners in the first place. Those utilizing WSGF's newly acquired application can acquire vacation properties and then enjoy generating income from vacation renters through applications like Airbnb and Bookings.com.
The WSGF acquisition has been in operation for over two years. The aquired business recently adopted a new name in anticipation of the acquisition by WSGF. The new name is Vaycaychella, intended to rapidly garner market attention as an accessible innovation empowering anyone with the notion of becoming a vacation property owner/operator to access the means to realize the vacation property ownership opportunity. Vaycaychella has already financed the acquisition of approximately $10 million in vacation properties through its unique vacation property lending approach. All the current properties are located in Caribbean vacation areas. The WSGF acquisition comes with a mortgage portfolio backed by the $10 million in vacation properties. Under WSGF, Vaycaychella will digitize its unique lending approach into a mobile device app and expand upon its internal lending capacity by connecting with peer-to-peer lenders. The Vaycaychella app will be available all over the world for the acquisition of properties all over the world.
As WSGF enters the shared economy sector with the Vaycaychella acquisition, the company highlights that the shared economy was reported in a recent Forbes article to have been a $15 billion market in 2014 projected to reach $335 billion by 2025. In further updates, WSGF has initiated efforts to update its public disclosures with the objective of meeting OTC Markets "Current Information Standard" reporting requirements. Coming updates will also include plans for the company's existing sports and entertainment assets.
WSGF management plans to release a 2020 outlook presentation on January 7, 2019.
Monitor WSGF's ongoing Progress at https://www.wsgfinc.com/
Disclaimer/Safe Harbor: This news release contains forward-looking statements within the meaning of the Securities Litigation Reform Act. The statements reflect the Company's current views with respect to future events that involve risks and uncertainties. Among others, these risks include the expectation that any of the companies mentioned herein will achieve significant sales, the failure to meet schedule or performance requirements of the companies' contracts, the companies' liquidity position, the companies' ability to obtain new contracts, the emergence of competitors with greater financial resources and the impact of competitive pricing. In the light of these uncertainties, the forward-looking events referred to in this release might not occur.
SOURCE WSGF, Inc.