WSGF Confirms Capital Structure And Highlights Near Term Growth Plans

DALLAS, Nov. 19, 2020 /PRNewswire/ -- World Series of Golf, Inc. (USOTC: WSGF) ("WSGF") today released a statement from the CEO Bill Justice in response to recent shareholder inquiries regarding the company's capital structure. The statement included in its entirety below, also highlights near term growth plans.

WSGF acquired Vaycacyhella earlier this year and is currently in the process of changing its name to reflect its recently announced new business direction serving short-term rental property owners and investors participating in the sharing economy sector. 

CEO Bill Justice Statement

WSGF published its first press release last week after completing the update of its public disclosures in accordance with the rules and guidelines of OTC Markets. WSGF acquired Vaycacychella, a business which is approximately three years old serving short-term rental operators and owners. 

The reaction to the first press release was a surprise to us. When we published the release on November 10^th, the trading volume and share price appreciation was remarkable. The trading volume was almost as remarkable the next day on November 11^th, though the share price pulled back the second day.

Since that first release, the company continues to receive a number of emails and calls in response to the market reaction on November 10^th and 11^th which largely involve a recurring question – "Is the capital structure reported on OTC Markets correct?"

As of this morning, we continue to receive emails and phone calls with this same question.  Accordingly, I decided this statement was in order.

Yes, the capital structure information on OTC Markets is correct. The company has 90 million shares authorized and the issued and outstanding is 88 million shares.

The company has not issued shares in approximately 10 years.

The trading volume last week on November 10^th and 11^th does not include any undisclosed new share issuances.

Vaycaychella did merge with WSGF for the purpose of gaining access to the investment market for publicly traded companies. Toward that end, the authorized will be increased, and new shares will be issued in conjunction with the company's intentions to form capital. We intend to make every effort in the future to manage capital structure changes in conjunction with capital formation to fund growth in a manner that fairly represents the interest of both retail investors and investors working directly with the company. When changes in the capital structure take place, such changes will be promptly disclosed.

While changes in capital structure may take place in the relatively near future, there was no change last week and no change as of the drafting of this statement. There was and remains no undisclosed capital structure change. There was and remains no undisclosed increase to issued and outstanding.

We acknowledge that the 300 million shares in trading volume over the course of November 10^th and 11^th substantially exceeds the authorized number of shares. Accordingly, we recognize the motivation behind inquiring with the company as to the accuracy of the information disclosed on OTC markets. We hope this statement sufficiently addresses that question.

We all here at Vaycaychella remain enthusiastic about the prospects for the company's future. We expect to soon begin beta testing our P2P app designed to app to connect short-term rental property owners and investors within the sharing economy.

The P2P app stems from our experience building a pilot business connecting short-term rental property owners and investors. Vaycacychella currently has 10 client premium short-term rental properties in the Caribbean under management as the result of a long-term business relationship financing the acquisition and restoration of the properties. We continue to expand upon the pilot operation and expect to soon announce adding a new Caribbean boutique hotel property.

We are very excited about the attention that the impending Airbnb IPO brings to the short-term rental market and the sharing economy. We are optimistic that Vaycaychella's growth potential will be enhanced by the market attention generated by the Airbnb IPO.

Thank you for your interest in Vaycaychella.

To learn more and keep up with the latest updates, visit https://www.vaycaychella.com/. At the company website, you will find a blog with frequent industry publications on the short-term rental market in general, as well as entries specific to Vaycaychella.

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.

WSGF Contact:
William "Bill" Justice
[email protected]
+1 (800) 871-0376

SOURCE World Series of Golf, Inc.