Disclosure NewswireTMiCrowdNewswire - Aug 17, 2016
PALM SPRINGS, CA – WorldFlix, Inc. (OTC PINK: WRFX), an App / Technology company that operates through a variety of niche industries using unique and disruptive technologies, is pleased to announce the company has closed up to $7.5 million in finance backing from Phoenix Fund Management, LLC.
The Company announces agreement with Phoenix Fund Management, LLC to provide $7.5 million in financing for its Swantry app, to combat cyberbullying, and other mobile projects under our wholly-owned App Farm development wing. The fund will provide the Company with long-term funding, under non-toxic structures, and has started the process of purchasing and consolidating outstanding legacy debt to provide for a more stable market.
Gavi Silberstein, Portfolio Manager at Phoenix Fund Management commented, “We see great potential in the need for the Swantry app as cyberbullying has become a tragic issue among younger adults in recent years. We feel such a product could prove to have a high demand from parents, and school officials, seeking to protect their children from the growing angst of online cyber bullying. We look forward to providing our fund as not just a source of capital for the company, but rather a long term partner who will look to assist our portfolio client on their journey towards development.”
Brad Listermann, CEO WorldFlix, Inc. commented, “We are pleased to have Phoenix Fund Management as not just a source of funding, but rather as a long term partner who will work with our company in our overall goal of developing our projects to market. In addition to providing this long term funding, their assistance in consolidating older legacy debt will also help stabilize our markets in both the short and long term.”
Further details on funding structures will be released shortly.
About Phoenix Fund Management, LLC
Phoenix Fund Management, LLC is an innovative, family owned investment fund. We partner with management in making direct investments in lower-middle market public companies in all industries around the world. We focus on building mutually beneficial, long-term partnerships with our portfolio companies and focus on driving value and growth by providing capital, utilizing our expertise and fostering strategic relationships. We are a direct investor, not a broker or a middleman. Our investment decisions are driven by fundamental analysis and due diligence. We make only passive investments, not taking control positions and have long only positions. www.phoenixfundmgt.com
About WorldFlix, Inc.
WorldFlix, Inc. (OTC:WRFX) operates in a variety of niche businesses. App Farm-platform for acquiring, developing, and growing niche apps for mobile and tablet devices. Drobbits-interactive platform that allows users to create, play, and monetize their own video games. Swantry-a military-grade, triple encrypted, launcher app that allows parents to ensure their child is safe on their mobile device. Lastly, WorldFlix Entertainment Management is the company’s television and movie development and management business, and now, the artificial intelligence industry. For more information on WorldFlix, Inc. (OTC PINK: WRFX), please visit www.worldflix.co or http://www.otcmarkets.com/stock/WRFX/profile
FORWARD-LOOKING STATEMENTS: “Safe Harbor” statement under the Private Securities Litigation Reform Act of 1995: This press release contains forward-looking statements within the meaning of the Securities Litigation Reform Act of 1995. These statements are based on current expectations, and are to a certain degree uncertain. Words such as expects, anticipates, intends, believe, plan, will and similar words are expressions intended to identify these forward-looking statements. These statements involve risk and subsequently are difficult to evaluate. Actual results may vary from descriptions herein due to many factors including but not limited to changes in business conditions, changes in laws and regulations, problems encountered in exploration and obtaining permits, changes in the competitive environment, technological advances, shortages of skilled workers, the need for additional capital and other risks listed in the company’s Securities and Exchange Commission filings under “risk factors” and elsewhere. Forward-looking statements speak only as of the date they were made, and the company is under no obligation to update them.
WorldFlix, Inc. (OTC:WRFX)
Chairman and CEO