WOODSTOCK, Ga., April 10, 2015 /PRNewswire/ -- Woodstock
Holdings, Inc., quoted in the OTC Pink under the symbol "WSFL,"
through its wholly owned subsidiary, Woodstock Financial Group
Inc., a provider of securities brokerage and investment banking
services in the United States,
Puerto Rico and the US Virgin
Islands, has announced today that it has entered into an agreement
to acquire all intellectual properties of Monophase LLC, whose
assets include the software owned by Rafflesoft, a random access
drawing software that can be used in the area of gaming and to
facilitate online raffles for non-profit organizations. Woodstock
Holdings intends to diversify its holdings through this
acquisition.
Woodstock Holdings, Inc. has worked with an Atlanta-based information technology company,
Pro OnCall Southeast LLC, to develop Rafflesoft into a turnkey
solution that can be utilized by charitable organizations that want
to host online raffles as an option to assist in their fundraising
efforts. Thus far, an affiliated company, The Woodstock Foundation,
a fully tax-exempt 501c(3) public charity, has obtained permits to
legally host online raffles in the state of Georgia and has successfully tested the
software. Woodstock Holdings will own the software through a
wholly-owned subsidiary company and has partnered with Pro OnCall
Southeast to begin marketing a turnkey solution to charitable
organizations throughout the state immediately. Woodstock Holdings
intends to add additional states in the near future.
"The acquisition of the assets of Monophase, especially its
software, Rafflesoft, is an exciting investment for our
shareholders," said William J. Raike
III, founder of Woodstock Holdings. "Hosting online raffles
can be challenging for charities because laws vary state by state
and in many cases fall under the laws for lotteries. Being able to
offer charitable organizations a complete and legal turnkey
solution for offering online raffles as one of their fund raising
options is very exciting. We hope to further develop and patent
this software and believe it will ultimately generate additional
revenues for our holding company."
Woodstock Holdings has recently turned profitable from
$.01 loss per share in 2013 to
$.01 per share profit in 2014.
To learn more about Woodstock Holdings or to view Woodstock
Holdings' 2014 Annual Report, go to otcmarkets.com and enter our
stock symbol "WSFL".
About Woodstock Holdings, Inc.
Woodstock Holdings, Inc. (WSFL), through its subsidiary
Woodstock Financial Group, Inc., provides securities brokerage and
investment banking services in the United
States, Puerto Rico and the
US Virgin Islands. It offers full-service commission and fee-based
money management services to individual and institutional
investors. The company sells stocks, mutual funds, bonds, managed
accounts, life insurance, corporate 401K plans and other investment
advisory and financial planning products and services through a
network of independent contractor registered representatives. It
was formerly known as Woodstock Financial Group, Inc., and changed
its name to Woodstock Holdings, Inc. in January 2010. The company was founded in 1995 and
is headquartered in Woodstock,
Georgia.
SAFE HARBOR STATEMENT UNDER THE PRIVATE SECURITIES LITIGATION
REFORM ACT OF 1995.
Certain statements in this press release constitute
"forward-looking statements" within the meaning of the Private
Securities Litigation Reform Act of 1995. Such forward-looking
statements involve known and unknown risks, uncertainties and other
factors which may cause the actual results, performance or
achievements of the company to be materially different from any
future results, performances or achievements express or implied by
such forward-looking statements. The forward-looking statements are
subject to risks and uncertainties including, without limitation,
changes in levels of competition, possible loss of customers, and
the company's ability to attract and retain key personnel.
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SOURCE Woodstock Holdings, Inc.