MIAMI BEACH, FL, April 2, 2013 /CNW/ - Rangemore Film Productions Corp. ("Rangemore") (formerly Auctions International Inc.)(OTCPINK: AUCI) today announces that it is in revenue as a result of the previously announced merger with Rangemore Productions Corp. The revenue is derived from the studio operations, which is generating income on a monthly basis and has grossed over $275,000 since commencing operations in June 2012.
"We are pleased to see the studio beginning to generate revenue," stated Andrew McLaughlin, CEO of Rangemore. "With the studio operations well underway we can now focus our marketing efforts on building the film production side of the business which is where the major returns are realized" continued Mr. McLaughlin.
About Rangemore Film Productions Corp. (Formerly Auctions International Inc.)
Rangemore Film Productions Corp. (formerly Auctions International Inc.) is a publicly traded company who 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. Along with the studio operations, Rangemore will be actively investing in and producing independent film productions.
Rangemore Film Productions Corp. 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.
Forward Looking Statements
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 Auction International Inc's 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: Rangemore Film Productions Corp.
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