WSGF Releases FinTech Development Review With Crowdfunding And Cryptocurrency Updates And Preview Of Pending Balance Sheet Progress

Rhea-AI Summary

World Series of Golf (OTC Pink: WSGF) announced a management update alongside its FY2020 Annual Report. Following the acquisition of Vaycaychella, WSGF focuses on alternative real estate finance, including a P2P lending app aimed at short-term vacation rental operators. Vaycaychella invested $1.25 million in vacation properties and seeks to exchange a $1.5 million note for preferred stock. The new P2P App is expected to launch by May 2021, incorporating cryptocurrency and crowdfunding features. A boutique hotel in Havana is nearing completion, with an opening anticipated soon.

Positive

• Vaycaychella's P2P lending app is in beta testing and expected to launch by May 2021.
• The acquisition of Vaycaychella enables WSGF to focus on the growing alternative real estate finance market.
• The development of Version 2.0 of the Vaycaychella App will include cryptocurrency and crowdfunding features.

Negative

• Vaycaychella's operations are still in the early stages, and there is uncertainty regarding market adoption.
• The $1.5 million note exchange for preferred stock may signal potential liquidity issues.

DALLAS, April 20, 2021 /PRNewswire/ -- World Series of Golf, Inc. (OTC Pink: WSGF) ("WSGF") today released a management update in conjunction with the recently published FY2020 Annual Report.

Serving Future Airbnb and VRBO Operators

WSGF acquired Vaycaychella last year making the new business acquisition its primary focus. A name change reflecting the alternative real estate finance focus is underway. 

When WSGF acquired Vaycaychella, Vaycaychella was already in the business of facilitating financing for the purchase and renovation of real estate properties for the purpose of generating revenue from short-term vacation rentals like those found on Airbnb, and VRBO. Vaycaychella's mission is to serve short-term vacation rental owners and investors in the near term with a peer-to-peer (P2P) lending application (App) currently under development, and at this time, being tested in a beta phase.

Prior to Vaycaychella's acquisition, Vaycaychella launched a pilot alternative real estate financing operation to test and evolve its operating premise. Vaycaychella still maintains a portfolio of Caribbean vacation properties as a pilot model to validate the opportunity to build a business around providing an alternative financing resource to empower entrepreneurs to build and expand short-term vacation property rental businesses. 

$1.25 Million Asset And $1.5 Million Liability Exchange For Non-Convertible Preferred

Vaycaychella has provided alternative financing backing multiple short-term vacation rental properties and a boutique hotel.

Vaycaychella invested $1.25 million dollars in the pilot, Caribbean, short-term vacation rental properties prior to WSGF's acquisition of Vaycaychella.

WSGF acquired Vaycaychella in January of 2020, in exchange for a $1.5 million note.

WSGF and the Vaycaychella sellers expect to exchange the $1.5 million note for preferred stock without an option to convert into common, prior to the end of Q2 2021.

Peer-To-Peer (P2P) Fintech Alternative Real Estate Finance App To Launch This May

The Vaycaychella Peer-To-Peer (P2P) App will connect would be short-term rental property buyers with a new breed of alternative investors.

Management expects to launch the App no later than May of this year and possibly by the end of April. The App is currently undergoing Beta testing.

The post Covid convergence of an increase in vacation demand and housing supply could result in an ideal buying opportunity for would-be short-term vacation property owner/operator entrepreneurs, and WSGF's Vaycaychella App has the potential to be the right tool at the right time to help entrepreneurs (or as we like to call them "Rentrepreneurs") to purchase houses.

Cryptocurrency and Crowdfunding

The company recently announced kicking off development efforts on the next version of the company's alternative real estate finance application designed to facilitate the purchase of short-term rental properties. The Vaycaychella App Version 2.0 will include cryptocurrency and crowdfunding features to expand alternative finance options available to entrepreneurs ("Rentrepreneurs").

WSGF management reports having been recently contacted and entering into to business development negotiations regarding an opportunity to launch a cryptocurrency backed by fractional ownership into a portfolio of short-term rental vacation properties. Management anticipates an agreement coming soon.

Caribbean Boutique Hotel

The Vaycaychella backed boutique Caribbean Hotel is located in Havana, Cuba. In spite of the impact from Covid, renovations are nearly complete, and an opening is anticipated soon. To celebrate the opening and to facilitate market awareness for Vaycaychella's alternative finance service, look for news coming soon about a contest to participate in the opening celebration, and be one of the first to stay at the Vaycaychella backed boutique Caribbean hotel. 

To learn more and keep up with the latest updates at Vaycaychella, visit https://www.vaycaychella.com. At the company website, you will find a blog with frequent industry publications on the short-term rental market in general, as well as entries specific to Vaycaychella.

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:
William "Bill" Justice
bill@vaycaychella.com
+1 (800) 871-0376

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SOURCE World Series of Golf, Inc.

FAQ

What is the expected launch date for WSGF's P2P lending app?

The P2P lending app is expected to launch by May 2021.

What is the financial focus of WSGF after acquiring Vaycaychella?

WSGF is focusing on alternative real estate finance for short-term vacation rentals.

What investments has Vaycaychella made prior to WSGF's acquisition?

Vaycaychella invested $1.25 million in vacation properties.

What features will the new version of the Vaycaychella app include?

Version 2.0 will include cryptocurrency and crowdfunding features.

Where is the boutique hotel backed by Vaycaychella located?

The boutique hotel is located in Havana, Cuba.