LOS ANGELES, Jan. 9, 2019 /PRNewswire/ -- WorldFlix, Inc. (WRFX), a world-class provider of innovative and disruptive cybersecurity and mobile software, today announces it has eliminated all dilutive debt notes with Blackbridge Capital Growth and their affiliates, Black Bridge Capital, Tri Bridge Ventures, L2 Capital as well as long time investment patron Apollo Capital.
The Company Founder and Chief Executive Officer Brad Listermann stated, "This is a significant milestone in reshaping our business stability and strengthen our value proposition. By eliminating 100% of convertible debt from Blackbridge and recharacterizing our remaining debt in an attractive agreement with Apollo, we are positioned to attract institutional investment banking relationships as we start to launch our products."
A satisfied Brad Listermann stated, "We want to thank our long-term investors who helped us get to this tipping point." The entrepreneurial founder mentioned, "We are blessed to have earned the trust, investment capital and faith of this elite and stalwart group. Their perseverance enabled us to focus the efforts of our Paranotek development team full time and create critical joint venture partnerships."
"We are also interviewing candidates with expertise in securities and finance to establish an outside audit committee independent of management to work with our new chief financial officer," said Brad. "This group will part of our independent governance committees as we pursue our goal to uplift our stock in value and marketplace."
Wholly owned subsidiary Paranotek CEO Mick Davis expressed high confidence with the 2019 roadmap for the entire WorldFlix team and co-investment affiliates. "I am very enthusiastic and eager for the future of our quantum computing resistant encryption apps and subscription service and their unique revenue potential. As we meet our technical and funding milestones, we will be unabashed in sharing our vision regarding the Paranotek evolution to contribute the privacy and security community."
ABOUT PARANOTEK, LLC.
Paranotek is a global innovation company focused on developing mobile apps and licensing robust technologies that increase personal and corporate information privacy and security through breakthrough advancements in encryption. Paranotek's foundation began as a Finnish technology and design company working together with US partners. Paranotek has developed a patent-pending encryption process called Parano™ that can be integrated into existing software and apps for everyday life. For more information on Paranotek, please visit www.paranotek.com.
ABOUT WORLDFLIX, INC.
WorldFlix, Inc. (OTC PINK: WRFX) is a Nevada corporation focused on entertainment, software, and security company. Through our subsidiary co-investment holdings and affiliate partnerships, we provide a variety of tools and software applications including our own proprietary mobile applications as well as innovative resources for partners to enhance and secure their existing platforms. WorldFlix, Inc., the parent company, also works in innovating video production and entertainment. For more information on WorldFlix, Inc., please visit www.worldflix.co
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 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