LOS ANGELES, March 06, 2018 (GLOBE NEWSWIRE) --
via OTC PR WIRE -- WorldFlix, Inc. (OTC:WRFX) and its global cybersecurity software subsidiary Paranotek today announced that a West Indies based digital currency exchange and cryptocurrency trading platform investment group has requested multiyear terms and conditions for licensing Paranotek's post quantum-computing resistant encryption technology in a mutual Letter of Intent (LOI).
SECURING THE BLOCKCHAIN
"We've been very busy this year with multiple cybersecurity business opportunities in the United States, Asia and Europe," stated Mick Davis, CEO of Paranotek. "We are thrilled to have Paranotek's encryption capabilities recognized by these successful digital currency pioneers and to be invited to partner in joint opportunities within their billion-dollar global cryptocurrency ecosystem."
Currently under a strict non-disclosure agreement, principals of the cryptocurrency investment group with offices in Hong Kong and Miami, Florida, stated in a joint conference call that "securing their distributed ledger platform infrastructure and customer endpoints with the Paranotek Protocol will be an attractive capability." The investment group intends to leverage Paranotek's encryption technology to secure their digitized assets as they launch into new markets with their next-generation blockchain trading platform and bridge legacy foreign currency exchanges.
REGULATION A + OFFERING
WorldFlix is in the process of filing for a Regulation A + offering. Regulation A+, as mandated by the JOBS Act and introduced on March 25, 2015, gives non-SEC reporting companies the ability to raise up to $50,000,000 in a 12-month period.
"We are at a positive tipping point," stated Brad Listermann, CEO of WorldFlix. "Last year we started to pursue a Regulation A + offering and are now in an optimal position to execute it. This Regulation A + offering is an excellent opportunity, not just for WRFX but also for our shareholders. This type of offering allows every day, non-accredited investors to invest in the Company and is a very affordable approach for the Company to raise funds."
"In order to open up our Regulation A + offering we need to increase the Company's outstanding shares by 10 billion shares. We recognize this may be unpopular at first glance, but in reality, it's the best way for us to raise the funds and maintain control of the use of shares. We plan to only use what is needed, when it's needed, for major milestone projects allowing the Company to manage potential dilution and minimize the cost of raising funds."
"Our first order of business will be to use enough funds to successfully deliver a revenue producing secure instant messaging product and support the efforts in securing our digital currency exchange partners. We are all very excited about the revenue potential of our encryption technology in the secure instant messaging and global cryptocurrency markets," concluded Listermann.
About WorldFlix, Inc. (www.worldflix.co)
WorldFlix, Inc. (OTC PINK:WRFX) operates in a niche business space within the technology and entertainment sphere. WorldFlix divisions include AppFarm, an investment ecosystem for acquiring, developing, and growing niche apps for mobile and tablet devices; Drobbits, an interactive platform that allows users to create, play and monetize their own video games; Paranotek, a security technology and design company that incorporates its military-grade, proprietary security and privacy features when developing software and apps; Swantry, designed to allow parents to ensure their child is safe on their mobile device; and WorldFlix Entertainment Management, a television and movie development and management business. For more information on WorldFlix, Inc., please visit www.worldflix.co.
About Paranotek (www.paranotek.com)
Paranotek is a partnership between WorldFlix, Inc. whose foundation began as a Finnish technology and design company working with US partners. Paranotek's products range from securing big data storage, virtual private networks, cryptocurrency safety, file sharing and instant messaging services to various enterprise software utilities, all based on our disruptive security technology. While other popular apps, software and services collect your data, Paranotek's unique security technology never collects user data, thus providing an extra layer of enhanced privacy for our users. For more information on Paranotek, please visit www.paranotek.com.
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.
For more information, please visit: www.worldflix.co, www.paranotek.com, www.swantry.com.
WorldFlix, Inc. (OTC:WRFX)
Chairman and CEO
Photos accompanying this announcement are available at
Source: WorldFlix, Inc.
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