MIAMI BEACH, FL, April 1, 2013 /PRNewswire/ - Rangemore Film Productions Corp. (formerly Auctions International Inc)(AUCI) today confirmed the closing of its previously announced merger with Rangemore Productions Corp. effective March 31, 2013.
The surviving entity, Rangemore Film Productions Corp. will be headquartered in Miami Beach and Manchester, England and continue to trade on the OTCPINKS under the symbol AUCI. The Board of Directors will consist of Doug Mann, Andrew McLaughlin and Richard Smith and the officers will be Andrew McLaughlin - CEO, Doug Mann - President and Richard Smith - Secretary & Treasurer. An application for a new stock symbol will be filed with FINRA imminently.
In accordance with the terms of the merger agreement, each common share of Rangemore Productions Corp. has been converted into one PREFERRED SHARE of Rangemore Film Productions Corp. in exchange for all the assets, liabilities and operations of Rangemore Productions Corp.
The corporate website has also been changed to www.rangemorefilmproductions.com.
"It's a great day for our shareholders," stated Doug Mann, President. "The new direction our company has taken is very unique and exciting. Rangemore is poised for significant growth in the coming months and years now that we are officially in the movie business." continued Mr. Mann.
"We are pleased to have the merger completed," stated Andrew McLaughlin, CEO. "We can now focus on building our company and the development of the film projects" continued Mr. McLaughlin.
Rangemore to focus on growing Asian film industry
MIAMI BEACH, FL, April 23, 2013 /PRNewswire/ - Rangemore Film Productions Corp. ("Rangemore") (formerly Auctions International Inc.)(AUCI) today announces the management of Rangemore has identified the Asian film industry as being poised for exponential growth and as a result will be committing a significant portion of their marketing budget to this emerging market.
China is now number two after the U.S. in box office revenues and generated approximately $2.7 billion in 2012, a 30.2% increase over 2011. With an average of 9 new screens opening every day, China's film-exhibition business is growing at a rate that is unparalleled in the history of the movie industry. Since 2002, when there were fewer than 1,300 theaters in China, the industry has grown tenfold. Even with 13,000 theaters, 1 for every 220,000 people, China's film industry remains relatively unsaturated. In the United States, there is 1 screen for every 9,000 people. At this rate, China could top the U.S. film market by 2020.
"Lost in Thailand", a Chinese comedy, was released on December 12, 2012 and has already grossed more than US$200 million at the Asian box offices. It is on the path to be one of the highest grossing films ever released. This is another indication of the strength of the Asian film industry. The management of Rangemore wants to capitalize on this growth and realizes that to get a foot hold in the Asian markets you have to develop relationships with key individuals who hold influence. In February of this year, Andrew McLaughlin, CEO of Rangemore attended a high profile Chinese cultural event at the Kennedy Centre in Washington, DC. During the post performance reception, Mr. McLaughlin took the opportunity to network with some of these key individuals and a number of opportunities were discussed including a potential joint venture between Rangemore and the producers of the event.
"I can't emphasize how important developing personal relationships will be in growing our business in Asia and attending this cultural performance was a chance to get face-to-face with some of the key players within the Chinese film industry" commented Mr. McLaughlin "A large part of our marketing efforts will be focused in Asia and by attending events like these, we will be able to meet these influential individuals and establish relationships which will be key to our success. As a result of our representation at this event, a number of opportunities presented themselves and one in particular looks very promising" continued Mr. McLaughlin.
Drawing on this success, Rangemore is planning on having representation at the following events:
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June 15-23: Shanghai Film Festival (Shanghai, China)
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October 7-10: Busan Asian Film Market (Busan, South Korea)
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October 11-21: Hawaii International Film Festival/EuroCinema Hawaii
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October 22-24: TIFFON (Tokyo, Japan)
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December 10-12: CineAsia (Hong Kong, China)
About Rangemore Film Productions Corp. (Formerly Auctions International Inc.)
Rangemore Film Productions Corp. (formerly Auctions International Inc.) is a publicly traded company who operates a film studio on the Isle of Man known as Island Studios. Island Studios is a complete film production facility located two miles outside the town of Ramsey and is approximately 7 acres in size and houses a film studio, sound studio, make-up studio, dressing rooms, canteen and dormitory, administration offices, and storage facility. Along with the studio operations, Rangemore will be actively investing in and producing independent film productions.
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.
Rangemore Film Productions now in revenue
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MIAMI BEACH, FL, April 2, 2013 /PRNewswire/ - Rangemore Film Productions Corp. ("Rangemore") (formerly Auctions International Inc.)(AUCI) today announces that it is in revenue as a result of the previously announced merger with Rangemore Productions Corp. The revenue is derived from the studio operations, which is generating income on a monthly basis and has grossed over $275,000 since commencing operations in June 2012. "We are pleased to see the studio beginning to generate revenue," stated Andrew McLaughlin, CEO of Rangemore. "With the studio operations well underway we can now focus our marketing efforts on building the film production side of the business which is where the major returns are realized" continued Mr. McLaughlin.
About Rangemore Film Productions Corp. (Formerly Auctions International Inc.)
Rangemore Film Productions Corp. (formerly Auctions International Inc.) is a publicly traded company who operates a film studio on the Isle of Man known as Island Studios. Island Studios is a complete film production facility located two miles outside the town of Ramsey and is approximately 7 acres in size and houses a film studio, sound studio, make-up studio, dressing rooms, canteen and dormitory, administration offices, and storage facility. Along with the studio operations, Rangemore will be actively investing in and producing independent film productions.
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
Auctions clarifies arrangement between Rangemore and Flick Me
MIAMI BEACH, FL, March 15, 2013 /PRNewswire/ - Auctions International Inc. ("Auctions") (AUCI) would like to clarify to shareholders the arrangement between Rangemore Productions Corp. ("Rangemore") and its new joint venture partner Flick Me Productions Limited ("Flick Me") and how it will affect Rangemore. The basic understanding is as follows:
Flick Me will make an agreement with a scriptwriter to develop a specific film project then will become the Executive Producer and hold the bulk of the royalties. For this, Flick Me will finance the project using the HMRC Enterprise Investment Scheme. As previously announced, Flick Me will be able to issue a 30% tax credit for any cash investment and can raise up to £16 million annually for one or multiple projects. There is a very high demand for this type of investment.
Rangemore will provide the studio and production facilities for which it will receive compensation in the form of cash and a royalty for each project utilizing the facilities. Rangemore will also have the opportunity to increase its royalty percentage by issuing Flick Me common or preferred stock. The purpose of acquiring a royalty is that Rangemore can participate in the box office success of the projects - it is the "Blue Sky" of the business plan. The end goal is to keep the studio at maximum occupancy while creating a diversified portfolio of film royalties.
In addition to the above, each year Flick Me can apply for a Film Tax Credit to get a refund for up to 25% of expenditures incurred in any of the projects. This application is filed with the annual corporate tax return and any refund received is then be passed on to the initial investors or reinvested into future projects.
"The combination of Flick Me and Rangemore is very unique" stated Andrew McLaughlin, President & CEO of Rangemore "with Flick Me providing sourcing and funding of the film projects, matched with Rangemore and its studio facilities making for a very strong partnership" continued Mr. McLaughlin.
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RANGEMORE STUDIO FACILITIES http://www.rangemorefilmproductions.com/# Island Studio's isle of man 12000 square feet of main sound production area's additional secondary 2000 square feet sound stage available. On site housekeeping make up wardrobe and catering all housed within seven acre of Manx countryside. Excellent back lot post and pre production facilities
The only large dedicated facility on the island
The studios are located two miles outside the town of Ramsey on the Isle of Man in a semi-rural area surrounded by beautiful countryside. It was built in 2001 and have provided turnkey services for film productions that have starred Hollywood "A" list Actors such as Johnny Depp, John Malkovich and Zac Efron. The studio facilities are well known throughout Europe and the United States of America.