MIAMI BEACH, FL, March 13, 2013 /CNW/ - Auctions International Inc. ("Auctions") (OTCPINK: AUCI) announces that Rangemore Productions Corp ("Rangemore") and its new joint venture partner Flick Me Productions Limited ("Flick Me") are currently in negotiations to finance and produce a 13 episode cartoon series. The name of series will be announced at a later date.
The initial negotiations are for Flick Me to raise funds for the development and production of the series utilizing its ability to issue tax credits under the HMRC Enterprise Investment Scheme while Rangemore will provide the studio and production facilities and a third party the intellectual property and story line. It is expected that an agreement will be finalized within two weeks and preproduction commencing shortly thereafter.
"This is the first of three negotiations that we are currently closing" stated Mr. Andrew McLaughlin, President & CEO of Rangemore. "With the Flick Me/Rangemore partnership now in place and the ability to raise funds utilizing the HMRC tax credits, we have had a surge of interest from script writers and film directors looking to get their projects off the ground. Flick Me provides the vehicle to get projects funded while Rangemore the studio and production facilities. It is a win-win situation for all involved." continued Mr. McLaughlin.
About Auctions International Inc.
Auctions International Inc. is a publicly traded company whose core business was the development and implementation of a proprietary technology that enables virtual auctions for any type of product or commodity over the internet. In addition to the development and launch of its technology, the management of Auctions is dedicated to identifying and acquiring undervalued opportunities that have significant upside with the focus being to add to shareholder value. As a result, on December 31, 2012, Auctions entered into a Merger Agreement with Rangemore Productions Corp. For more information on Rangemore Productions Corp. please see below or visit www.rangemoreproductions.com.
Auctions 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.
About Rangemore Productions Corp.
Rangemore Productions Corp. ("Rangemore") is an independent film company that 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. The studios have been operating since 2002. Along with the studio operations, Rangemore will be actively producing independent film productions. Management of Rangemore is in the process of reviewing a number of film projects and joint venture opportunities.
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 Auctions' filings with OTCMarkets which may identify specific factors that may cause actual results or events to differ materially from those described in the forward-looking statements.
SOURCE: Auctions International, Inc.
For further information:
For more information on Auctions or Rangemore please call Rangemore Productions Corp. at 305-851-2469 or visit www.rangemoreproductions.com.