KELOWNA, BC, May 21, 2013 /CNW/ - Appiphany Technologies Holdings Corp. ("Appiphany") (OTCBB:APHD) would like to inform shareholders of the plan to finance and develop the
MMA Animals TM cartoon series.
The strategy developed by the management of Appiphany calls for the
creation of a new entity in the United Kingdom which Appiphany and its
European joint venture partner will manage. This new company will
apply to HM Revenue & Customs (HRMC) to become eligible to issue tax
credit certificates in the United Kingdom under the HMRC Enterprise
Investment Scheme. Once approved, any investment into the new UK based
company will be eligible to receive a 30% tax credit and traditionally
there has been a very strong demand for these types of investments.
Once the necessary capital is raised through the utilization of the
scheme then the UK entity will proceed to develop and mass distribute
the MMA Animals TM cartoon series while paying a dividend and licensing fee to Appiphany.
The advantages of this type of structure are: there is no dilution to
the existing shareholder of Appiphany; Appiphany will maintain creative
control, the ability to issue tax credits will assist with raising
capital as there is a high demand for the HMRC tax credits; and
Appiphany will participate in the upside of the project through
dividends and the licensing fees with little risk to no risk.
"The HMRC Enterprise Investment Tax Credit Scheme is an extremely
effective way to raise capital" stated Richard Smith,
Secretary/Treasurer of Appiphany. "Traditionally there has been a very
high demand for these types of investments and we plan to capitalize on
this through our relationship with our European joint venture partner
who has extensive experience funding through this process. This
strategy will protect our shareholders from any significant dilution
while allowing us to participating in the large upside of the MMA
Animals TM cartoon project." concluded Mr. Smith.
About Appiphany Technology Holdings Corp.
Appiphany Technologies commenced operations as a diversified technology
company in June of 2009. Appiphany Technologies Holdings Corp is a
fully reporting public company whose stock trades on the Over the
Counter Bulletin Board under the stock symbol "APHD". The scope of the
business is based around the use of new technologies in the consumer
market. At the inception of the company the focus was on third-party
application development for the iPhone and iPod Touch manufactured and
marketed by Apple, Inc. This lead to endeavoring the CG animation and
gaming industries. Appiphany intends on diversifying its involvement
in the various industries where technologies blend with entertainment.
To date, Appiphany has designed and developed a variety of applications
that are currently available for purchase through Apple, Inc. The
evolution of the Company will be integrating third-party accessories to
function with applications in the toys to life category. We aim to
maximize user experience while exploring the innovative technological
possibilities of today. Currently our focus is on developing a carton
series and spin off products for our own brand MMA Animals TM the first children's mixed martial arts brand. While building these new
products for MMA Animals we will uncover new proprietary processes that
will be developed and resold as services for businesses. In addition,
we are constantly evaluating the feasibility of providing additional
services including web development, interface design, hosting,
marketing, and new business consulting focused on technology
Appiphany 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.
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 Appiphany's
filings with the SEC which may identify specific factors that may cause
actual results or events to differ materially from those described in
the forward-looking statements.
SOURCE: Appiphany Technologies Holding Corp.
For further information:
For more information on Appiphany please call 250-864-5377 or visit http://appiphanytech.com/appiphany-technologies-holding-corp-aphd-company-overview.