KELOWNA, BC,
May 21, 2013 /PRNewswire/ -
Appiphany Technologies Holdings Corp. ("Appiphany")
(OTCBB:APHD) would like to inform shareholders of the plan to
finance and develop the MMA Animals TM cartoon
series.
The strategy developed by the management of
Appiphany calls for the creation of a new entity in the
United Kingdom which Appiphany and
its European joint venture partner will manage. This new
company will apply to HM Revenue & Customs (HRMC) to become
eligible to issue tax credit certificates in the United Kingdom under the HMRC Enterprise
Investment Scheme. Once approved, any investment into the new UK
based company will be eligible to receive a 30% tax credit and
traditionally there has been a very strong demand for these types
of investments. Once the necessary capital is raised through
the utilization of the scheme then the UK entity will proceed to
develop and mass distribute the MMA Animals TM cartoon
series while paying a dividend and licensing fee to Appiphany.
The advantages of this type of structure are:
there is no dilution to the existing shareholder of Appiphany;
Appiphany will maintain creative control, the ability to issue tax
credits will assist with raising capital as there is a high demand
for the HMRC tax credits; and Appiphany will participate in the
upside of the project through dividends and the licensing fees with
little risk to no risk.
"The HMRC Enterprise Investment Tax Credit
Scheme is an extremely effective way to raise capital" stated
Richard Smith, Secretary/Treasurer
of Appiphany. "Traditionally there has been a very high
demand for these types of investments and we plan to capitalize on
this through our relationship with our European joint venture
partner who has extensive experience funding through this
process. This strategy will protect our shareholders from any
significant dilution while allowing us to participating in the
large upside of the MMA Animals TM cartoon project."
concluded Mr. Smith.
About Appiphany Technology Holdings
Corp.
Appiphany Technologies commenced operations as a diversified
technology company in June of 2009. Appiphany Technologies
Holdings Corp is a fully reporting public company whose stock
trades on the Over the Counter Bulletin Board under the stock
symbol "APHD". The scope of the business is based around the
use of new technologies in the consumer market. At the
inception of the company the focus was on third-party application
development for the iPhone and iPod Touch manufactured and marketed
by Apple, Inc. This lead to endeavoring the CG animation and
gaming industries. Appiphany intends on diversifying its
involvement in the various industries where technologies blend with
entertainment. To date, Appiphany has designed and developed
a variety of applications that are currently available for purchase
through Apple, Inc. The evolution of the Company will be
integrating third-party accessories to function with applications
in the toys to life category. We aim to maximize user experience
while exploring the innovative technological possibilities of
today. Currently our focus is on developing a carton series
and spin off products for our own brand MMA Animals
TM the first children's mixed martial arts brand.
While building these new products for MMA Animals we will uncover
new proprietary processes that will be developed and resold as
services for businesses. In addition, we are constantly
evaluating the feasibility of providing additional services
including web development, interface design, hosting, marketing,
and new business consulting focused on technology
implementation.
Appiphany 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 Appiphany's
filings with the SEC which may identify specific factors that may
cause actual results or events to differ materially from those
described in the forward-looking statements.
SOURCE Appiphany Technologies Holding Corp.