$RANF Some of the highlights…
It absolutely boggles the mind what this company has done in the last 5 months; cant wait to see the next 5 months…
Jan 8, 2013: Auctions International Inc. announced that it had entered into a definitive Merger Agreement with Rangemore Productions Corp. effective December 31, 2012
Jan 22, 2013: Auctions International Inc.announced that it has received and accepted consents from Mr. Andrew McLaughlin and Mr. Richard Smith to join its board of directors.
Feb 19, 2013: Auctions International Inc. announced the commencement of the marketing phase of the new business plan.
March 11, 2013: Auctions International Inc. announced that it has opened an office in Manchester, England.
March 13, 2013: Auctions International Inc. announced that Auctions and its joint venture partner Flick Me Productions was in negotiations to finance and produce a 13 episode cartoon series.
March 14, 2013: Tax Credit
Rangemore Productions Corp. ("Rangemore") and its new joint venture partner Flick Me Productions Limited ("Flick Me") has identified and will be utilizing the UK Film Tax Credit Program to subsidize its independently produced film projects.
The Film Tax Credit Program works independently of the HMRC Enterprise Investment Scheme, which was previously announced. The UK Film Tax Credit Program is a TAX REFUND issued by HMRC directly to the producer of a film project. Each film project can apply for a tax refund for up to a total of 25% of approved expenditures incurred in its development and production which can then be passed on to the initial investors or reinvested into future projects. This is different from the HMRC Enterprise Investment Scheme which allows Flick Me to issue a 30% tax credit to investors for any cash investment made into one of its independent films. The HMRC Enterprise Investment Scheme will be used to raise the funds necessary to bring the film projects into production while the UK Film Tax Credit will be filed to get to a 25% refund of approved expenditures.
"The combination of the ability to issue a 30% tax credit for investment dollars combined with up to 25% tax refund of expenditures makes an investment into any one of Flick Me's productions very attractive" stated Andrew McLaughlin, President & CEO of Rangemore. "Rangemore will benefit by being able to participate in the royalties under any partnership arrangement we make in individual Flick Me Production's projects as well as providing the studio and production facilities to those projects" continued Mr. McLaughlin.
April 1, 2013: Rangemore Film Productions Corp. (formerly Auctions International Inc.) confirmed the closing of its previously announced merger with Rangemore Productions Corp. on March 31, 2013.
April 2, 2013: Rangemore Film Productions Corp. (formerly Auctions International Inc.) announced that it was in revenue as a result of the previously closed merger with Rangemore Productions Corp. The revenue was derived from the studio operations, which are generating income on a monthly basis and have grossed over $275,000 since commencing operations in June, 2012.
April 23, 2013: Rangemore Film Productions Corp. (formerly Auctions International Inc.) announced that the management of Rangemore had identified the Asian film industry as being poised for exponential growth and as a result was committing a significant portion of their marketing budget to this emerging market.
April 24, 2013: Rangemore Film Productions Corp. (formerly Auctions International Inc.) announced that it received notification from FINRA that all the necessary documents relating to the name and symbol change had been approved and that a new trading symbol had been granted. The new trading symbol for Rangemore Film Productions Corp. would be RANF and took effect on the opening of business April 25, 2013.
April 29 2013: First Quarter Revenue
• Rangemore is reporting gross revenue of just over $90,000USD for the first quarter ending March 31, 2013 and is on target to meet the projected base annual earnings for the year ended December 31, 2013.
• "The annual gross revenue from our studio operation for the first year is anticipated to be $500,000 and we are on target with this projection" stated Andrew McLaughlin, President & CEO of Rangemore. "The current studio operations are operating at approximately 70% capacity and it is time we begun to look for additional space to grow this side of our business" continued Mr. McLaughlin.
• In addition to the studio operations, Rangemore is currently in negotiations for royalties in two independent film projects. The royalty side of the business is where the large returns are going to be
• "The royalty side of our business is where we are going to get our exponential growth" continued Mr. McLaughlin. "The studio operations are predictable and measurable while the royalty side is where the excitement is - the 'Blue Sky'. Our end goal is to build a large portfolio of royalties in independent films while maintaining to grow our studio operations" concluded Mr. McLaughlin.
MAY 8, 2013: Management has prepared all the necessary paperwork required to move to the 'Current Information' tier of the OTC Markets quotation system. In addition to the internally prepared documentation a third party legal opinion will also need to be provided as part of the filing process and that is currently underway. It is anticipated that all documentation including the legal opinion will be filed with OTC Markets on or before May 24th, 2013.
May 14, 2013; Management has approved a plan to commence the search for potential acquisitions to expand the studio operations side of the business. The expansion plan will identify suitable properties in four key markets: Asia; South Africa; Europe and North America.
