WSGF Announces LOI To Acquire Vacation Technology Business With $10 Million Real Estate Backed Asset
December 19 2019 - 9:22AM
InvestorsHub NewsWire
WSGF Announces LOI To Acquire
Vacation Technology Business With $10 Million Real Estate Backed
Asset
Dallas, TX -- December 19, 2019 --
InvestorsHub NewsWire -- WSGF, Inc. (aka World Series of Golf,
Inc.) (USOTC:
WSGF) today announced entering into letter of intent (LOI)
agreement to acquire an innovative vacation industry technology
business. Instead of connecting vacation property owners with
would be vacation renters through applications like Airbnb and
Bookings.com, the WSGF target acquisition is deploying an
application that empowers people to become vacation property owners
in the first place. Those utilizing WSGF’s target acquisition
application can acquire vacation properties and then enjoy
generating income from vacation renters through applications like
Airbnb and Bookings.com. The WSGF target acquisition is a shared
economy prequel to existing shared economy applications such as
Airbnb and Bookings.com (see more on the shared economy
below). This is not just a concept business. The target
acquisition has been in operation for over two years. The
target acquisition recently adopted a new name in anticipation of
the upcoming acquisition by WSGF. The new name is
Vaycaychella, intended to rapidly garner market attention as an
accessible innovation empowering anyone with the notion of becoming
a vacation property owner/operator to access the means to realize
the vacation property ownership opportunity. Vaycaychella has
already financed the acquisition of approximately $10 million in
vacation properties through its unique vacation property lending
approach. All the current properties are located in Caribbean
vacation areas. The WSGF acquisition comes with a mortgage
portfolio backed by the $10 million in vacation properties.
Under WSGF, Vaycaychella will digitize its unique lending approach
into a mobile device app and expand upon its internal lending
capacity by connecting with peer-to-peer lenders. The
Vaycaychella app will be available all over the world for the
acquisition of properties all over the world. The Vaycaychella
acquisition is scheduled to close in early
January.
As WSGF enters the shared economy sector
with the Vaycaychella acquisition, the company highlights that the
shared economy was reported in a recent Forbes
article to
have been a $15 billion market in 2014 projected to reach $335
billion by 2025. In further updates, WSGF has initiated
efforts to update its public disclosures with the objective of
meeting OTC Markets “Current
Information Standard” reporting requirements. Coming
updates will also include plans for the company’s existing sports
and entertainment assets. WSGF plans to imminently publish a
preliminary new corporate website to include a current draft
financial statement. The company originally planned to have the
website up this week. The updated target release date is
Monday, December 23, 2019.
Disclaimer/Safe Harbor: This news release
contains forward-looking statements within the meaning of the
Securities Litigation Reform Act. The statements reflect the
Company's current views with respect to future events that involve
risks and uncertainties. Among others, these risks include the
expectation that any of the companies mentioned herein will achieve
significant sales, the failure to meet schedule or performance
requirements of the companies' contracts, the companies' liquidity
position, the companies' ability to obtain new contracts, the
emergence of competitors with greater financial resources and the
impact of competitive pricing. In the light of these uncertainties,
the forward-looking events referred to in this release might not
occur.
WSGF
Contact:
Lawrence Bailey
Info@wsgfinc.com
(800) 871-0376
Vaycaychella (PK) (USOTC:VAYK)
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