Rangemore's common shares to be quoted on OTC Pink-Current Information Tier
August 09 2013 - 1:31PM
OTC Markets
Rangemore's common shares to be quoted on OTC Pink-Current
Information Tier
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Rangemore's common shares to be quoted on OTC Pink-Current
Information Tier
Canada NewsWire
MIAMI BEACH, FL, Aug. 9, 2013
MIAMI BEACH, FL, Aug. 9, 2013 /CNW/ - Rangemore Film
Productions Corp. ("Rangemore") (OTCPINK:RANF) announces that
effective Monday, August 12, 2013,
the Company's common
shares will be quoted on OTC Pink - Current Information
Tier.
As part of ongoing qualification Rangemore must:
For each fiscal quarter end, file a Quarterly Report with OTC
Markets
within 45 days of the quarter end. (A separate Quarterly Report is
not
required for the 4th quarter.) The Quarterly Report
should include:
Information in accordance with the OTC Pink Basic Disclosure
Guidelines.
Quarterly financial statements including: Balance Sheet, Income
Statement, Statement of Cash Flows, and Notes to Financial
Statements.
For each fiscal year end, file an Annual Report within 90 days of
the
fiscal year end date. The Annual Report should include:
Information in accordance with the OTC Pink Basic Disclosure
Guidelines.
Annual financial statements including: Balance Sheet, Income
Statement,
Statement of Cash Flows, Notes to Financial Statements, and
Audit
Letter (if the financial statements are audited).
If financial reports are not audited by a PCAOB registered audit
firm,
an Attorney Letter must accompany the Annual Report within 120 days
of
the fiscal year end.
About Rangemore Film Productions Corp. (Formerly Auctions
International
Inc.)
Rangemore Film Productions Corp. is a publicly traded company who
in the
business of operating film studios and co-producing independent
film
productions.
Rangemore is currently in the process of identifying and
acquiring
studio suitable properties in four key markets: Asia; South
Africa;
Europe and North America. Potential acquisition
sites will have to
meet certain criteria including: a low cost per square foot;
easy
conversion into usable studio space; established local
infrastructure;
establish local film industry; limited or non-existent
competition;
available government tax incentives and mortgage financeable.
The
identified acquisitions will be either purchased outright
utilizing
debt funding and tax credit incentive programs or leased on a long
term
basis.
Along with the studio operations, Rangemore will be actively
investing
in and co-producing independent film productions. Currently
Rangemore
has a preliminary agreement to participate in the royalties of
an
independent film production being developed in the United Kingdom. The
agreed upon terms will allow Rangemore to purchase interest in the
film
royalties in exchange preferred shares for up to a maximum of 10%
of
the total royalties. The final terms and a definitive
agreement are in
the process of being prepared.
Rangemore Film Productions Corp. 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.
Forward Looking Statements
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
Rangemore
Film Productions Corp.'s filings with OTCMarkets which may
identify
specific factors that may cause actual results or events to
differ
materially from those described in the forward-looking
statements.
SOURCE Rangemore Film Productions Corp.
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