A cue the trumpets and bash the cymbals PR that I liked prior to buying RANF ...strong endorsement of the company to settle debt at twice the market price. Usually these pinkies settle debt at a steep discount to market price.
"MIAMI BEACH, FL, Sept. 12, 2013 /PRNewswire/ - Rangemore Film Productions Corp. ("Rangemore") (OTCPINK:RANF) today announces that it has reduced its accounts payable by over $85,000 through the issuance of common shares. This debt settlement eliminates almost all of the third party debt owed by Rangemore and the Company is almost completely debt free with the exception of debt owing to related parties. The shares were issued from treasury at par value or $0.001 which is double the current market price and are subject to the standard hold periods enforced by the SEC.
"It is one of management's key goals to keep our company relatively free of debt" stated Richard Smith, Secretary and Treasurer of Rangemore. "The fact that our debt holders were willing to settle at a price twice the current market price speaks volumes. They see the long term prospects for our company and were willing to take stock at a premium and subject to a one year hold. Finding debt holders willing to do this is very rare." concluded Mr. Smith."
http://www.otcmarkets.com/stock/RANF/news/Rangemore-reduces-debt-by-eighty-five-thousand-dollars?id=68436&b=y (OTCPINK:RANF) today announces that it has reduced its accounts payable by over $85,000 through the issuance of common shares. This debt settlement eliminates almost all of the third party debt owed by Rangemore and the Company is almost completely debt free with the exception of debt owing to related parties. "The fact that our debt holders were willing to settle at a price twice the current market price speaks volumes.
All the buzzwords one wants to see are hoisted up high with boisterous banners. However, there's a disconnect with the current PPS (that PR was issued 6 weeks ago). There has been dilution occurring here...stock has been on an extended downward spiral for months now. Dilution is to be expected...all these pinkies dilute, but time to live up to the promise of this PR. The Natives have grown restless, so put up or shut up Mr. CEO.