Rangemore Sign Revenue Sharing Agreement with Appiphany Technologies
August 20 2013 - 1:56PM
OTC Markets
Rangemore Sign Revenue Sharing Agreement with Appiphany
Technologies
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Rangemore Sign Revenue Sharing Agreement with Appiphany
Technologies
PR Newswire
MIAMI BEACH, FL, Aug. 20, 2013
MIAMI BEACH, FL, Aug. 20, 2013 /PRNewswire/ - Rangemore Film
Productions Corp. ("Rangemore") (OTCPINK:RANF) - is pleased to
announce that it has signed a Revenue Sharing Agreement
(the "Agreement") with Appiphany Technologies Holdings Corp.
("Appiphany") (OTCBB:APHD).
Under the terms of the Agreement, Rangemore has the right to
purchase
from Appiphany up to 10% of the net revenue generated by the first
ten
episodes of the MMA Animals TM cartoon series. The
royalties will be purchased by Rangemore using
cash and stock. The revenue defined in the agreement
includes: World
Wide box office receipts, DVD sales, Pay-Per-View revenue,
television
syndication and licensing fees, revenue generated by internet
downloads, and any fees paid by airlines. The term of the
royalty is
ten years from the date of original purchase. The total value
to be
paid by Rangemore for the right is approximately USD$35,000 per episode
or USD$350,000 and with the funds
will be used to develop the cartoon
series.
MMA Animals TM is the world's first kid's brand
based on the sport of mixed martial
arts. Each of the member of the MMA Animals
TM family will specialize in a specific discipline
such as: Karate, Judo,
Wrestling, Jiu Jitsu, Sambo, Mauy Thai, Tae Kwon Do. Each
episode the
series will be written with the intent of teaching viewers values
and
life lessons while keeping them engaged and entertained.
Appiphany
will continue to release new characters along with downloadable
interactive games and stories as the brand develops.
"We are very pleased to be able to participate in the revenue
of
Appiphany's 'MMA Animals' cartoon series." stated Richard Smith,
Director and Secretary/Treasurer of Rangemore. "This project
has huge
potential and is a great addition to our film royalty
portfolio. We
are well on our way to meeting our six month goal of securing
four
royalty agreements" concluded Mr. Smith.
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
Auction
International Inc'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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