WorldFlix, Inc. Announces Convertible Preferred Stock Dividend
PR Newswire
PALM SPRINGS, Calif., Feb. 12, 2016
PALM SPRINGS, Calif., Feb. 12, 2016 /PRNewswire/ -- WorldFlix, Inc. (OTC: WRFX) ("the Company"), is pleased to announce its inaugural convertible preferred stock dividend for the shareholders of record as of March 1st, 2016. "One of the critical ingredients to being successful when building equity is to be able to quickly adjust where needed to take advantage of markets conditions and opportunities," says Brad Listermann, CEO of WorldFlix, Inc. "This is why we're issuing the Convertible Securities - it's us seeing a need and moving swiftly to fill it." "Stockholders will receive one (1) Restricted Preferred share of WorldFlix, Inc. for every 100,000 shares held as of Record Date March 1st, 2016. The Company will also issue fractional shares to our investors as we realize that some may have purchased less than 100,000 shares during this period," explains Listermann. The pay date for this dividend is April 1st, 2016.
"This announcement and impending issuance will help those that have seen the dilution in the open market affect their cost average," says Listermann. "Issuing Anti-Dilutive Convertible Preferred Securities to stockholders as dividends also ensures that they will not be impacted by third-party debt conversions. The conversions of these securities are technically set at a price that the company could never trade or be quoted at which is .00001 par value, so these securities are not price sensitive, and they are also anti-dilutive."
He further added, "We have decided to award all of our loyal shareholders with this additional stock because they have stuck with us through our transitional phases. Many of our shareholders have held this stock for several years. Now, along with newer shareholders, they will become beneficiaries of our anticipated growth."
"The management would like to personally thank all of the shareholders of record of WorldFlix, Inc. for all of your support over the last few years. We are excited about the directions that we are headed and will continue to press on until we reach our goals and objectives," says Listermann.
Declaration Date: 02/12/2016
Record Date: 03/01/2016
Payment Date: 04/01/2016
About the company: WorldFlix is a publicly traded company on the OTC Markets (WRFX). WorldFlix is - App Farm (The App acquiring and Development Company with the recent announcement about a new child safety app, SWANTRY, swantry.com) and WorldFlix Entertainment Management (WEM), the entertainment-management company. "Imagine Apps endorsed by celebrities or product-placed into a movie that's where the dynamics of WorldFlix combine."
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