Woodstock Holdings, Inc. (WSFL) acquires the assets of Monophase LLC Rafflesoft in cash and stock transaction

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.

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