MOBI724 GLOBAL SOLUTIONS INC. (CSE:MOS) Announces Proposed $5 Million Senior Secured Convertible Debenture Financing
MOBI724 GLOBAL SOLUTIONS INC. (CSE:MOS) Announces Proposed $5 Million Senior Secured Convertible Debenture Financing
– Momentum Public Relations – July 7, 2016
Mobi724 Global Solutions Inc. (“Mobi724” or the “Company”) (CSE:MOS), a Fintech leader in the digital incentives, couponing and payment space is pleased to announce that the board of directors of the Company has authorized to seek financing by way of issuance of brokered senior secured convertible debentures (“Convertible Debentures”) for maximum proceeds of $5,000,000.00. The Company expects to use the net proceeds to support project deployments of the Company’s solution, for ongoing obligations and for working capital requirements.
The Company proposes to issue Convertible Debentures for a term of 3 years (the “Term”) bearing interest at a rate of 6.75{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} per annum. The Convertible Debentures shall be convertible at the option of the holder into common shares of the Company (the “Shares”) on or prior to the expiry of the Term as follows: i) $0.15 within the first year of the Term, ii) $0.25 within the second of the Term and iii) $0.35 within the third year of the Term. The Company has the option to redeem the Convertible Debentures at any time prior to the expiry of the Term subject to a 90 day interest penalty. The Convertible Debentures will be sold pursuant to exemptions from prospectus requirements to “accredited investors” in Canada and will not be listed on the CSE, however the Common Shares issuable upon conversion will be listed and may be subject to hold periods prescribed by regulation.
In connection with the proposed offering, Phoenix Corporate Finance Inc. was mandated to act as advisor to the Company and Meadowbank Asset Management Inc. as the exempt market dealer.
About Phoenix Corporate Finance Inc.
Phoenix Corporate Finance Inc. is an independently owned mid-market corporate finance firm which provides professional financing advisory and procurement services to business owners and project developers in Canada. The objective of Phoenix is to position its client companies for the optimum number of financing options beyond what is available from banks and other financial institutions. Phoenix specializes in providing alternative and private financing options for refinancings, financial restructurings, acquisitions, and project construction. For more information, contact one of our Corporate Finance Team experts at www.phoenixcorpfinance.ca
About Mobi724 Global Solutions
MOBI724 Global Solutions Inc. (CSE:MOS), a leader in the Fintech industry based in Montreal (Canada), offers a unique and fully integrated suite of Payment & Digital Marketing solutions.
We are innovating in our market with a combined EMV Payment, Card Linked Offers, and Digital Marketing platform. We pioneered in adding intelligence to all types of transactions benefiting banks, retailers and cardholders. We succeed in leveraging all available user and purchasing data to increase transaction volumes and spend.
MOBI724 provides a turnkey solution to its clients to capture card transactions on any mobile device, at any point of sale or from any payment card. Our easy-to-adapt gateway Switch is designed for easy integration with all payment protocols in our target markets.
Within the same solution suite we combined our Card Linked Offers solution, and provided financial institutions´ payment card portfolios and retailers the ability to add offers and/or coupons which can be redeemed directly at the Point of Sale, in a seamless user experience for all the parties in the eco-system.
MOBI724 Global Solutions unleashes the true potential of both payment and card-linked couponing/rewards transactions for both online and offline points of sale (POS).
The Corporation provides its customers with full and comprehensive traceability and enriched consumer data through its offering. Its solutions enables card associations, retailers, manufacturers, offer providers, mobile operators and card issuers to create, manage, deliver and “track and measure” incentive campaigns worldwide to ANY mobile device and allow its redemption at ANY point of sales.
Our credit and debit EMV payment solutions will allow banks to process end to end EMV transactions, focusing on authentication, approved security and quick merchant adoption which allows the users to process payments with a wide range of devices over a secure and seamless transaction.
MOBI724’s PCI and EMV cloud-based switch, with their device agnostic connectivity, simplifies deployment and integration, and introduces new payment and digital incentives solutions to the market enabling multi layered intelligent transactions therefore SMART TRANSACTIONS.
For more information on its products and on MOBI724 Global Solutions, visit www.mobi724globalsolutions.com.
- Published in Financial Technology, Mobi724 Global Solutions, News Home
Mobi724 Global Solutions Inc. (CSE:MOS) Releases Q1 Revenues Up 630 and Operating Loss Decrease by 30
Mobi724 Global Solutions Inc. (CSE:MOS) Releases Q1 Revenues Up 630{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} and Operating Loss Decrease by 30{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce}
– Momentum Public Relations –
Press Release: June 1, 2016
MOBI724 Global Solutions Inc. (“MOBI724” or the “Company”) (CSE:MOS), a Fintech technology leader in the digital incentives, couponing and payment space, has filed its Q1 financial results for quarter ending on March 31 -2016.
Highlights:
- Revenues year over year increase for Q1 increase 630{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} to 557K versus 88k.
- The acquisition of IQ 7/24 is now fully consolidated in Q1.
- Notwithstanding the acquisition of IQ 7/24 Inc. completed in Q4 with the addition SG&A of 173k: $1.256M in Q1 2016 compared to $1.083M in Q1 2015.
- Decrease operating lost by 30{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} to (699k) versus (995k) despite an increase by 173k in operating costs in the consolidated phase.
(in $’000) | March 31, 2016 | March 31, 2015 | |||
Sales | 557 | 88 | |||
Operating Expenses | 1,256 | 1,083 | |||
Operating Loss | (699) | (995) | |||
Other Expenses (Income) | 298 | 3,371 | |||
Income Tax expense (recovery) | (34) | (34) | |||
Net Loss | (964) | (4,332) | |||
Loss per share | |||||
Basic and Diluted | $(0.01) | $(0.10) | |||
- During the three month period ended March 31, 2016, a total of 3,030,303 warrants were exercised for a cash consideration of $250,000 (exercise price at $0.0825)
- The Company is progressing in a new round of financing of $3 million which is expected to be concluded in Q2 or beginning of Q3 2016.
“We are starting to see the beginning of the results of our strategy that we put forward in mid-year 2015” said Marcel Vienneau, CEO. “The company continues to make material progress in its sales funnel globally and continues to make material progress in its funding plan. This have been the best quarter in the company’s history. We now have traction with our 3 turnkey solutions and this confirms the value proposition we are bringing to the market globally”.
About Mobi724 Global Solutions
MOBI724 Global Solutions Inc. (CSE:MOS), a Fintech corporation based in Montreal (Canada), offers a unique and fully integrated suite of solutions PAYMENT – COUPONING – LOYALTY (all in one), is a leader in the Fintech industry.
Our vision is to enhance the value of commoditized payment transactions to the players in this eco- system (card associations, banks, mobile carriers and retailers) by adding layers of intelligence to these card-linked transactions (i.e. smart transactions) in a seamless manner for all the players in the eco-system.
MOBI724 Global Solutions unleashes the true potential of both payment and card-linked couponing/rewards transactions for both online and offline points of sale (POS).
The Corporation provides its customers with full and comprehensive traceability and enriched consumer data through its offering. Its solutions enables card associations, retailers, manufacturers, offer providers, mobile operators and card issuers to create, manage, deliver and “track and measure” incentive campaigns worldwide to ANY mobile device and allow its redemption at ANY point of sales.
Our credit and debit EMV payment solutions will allow banks to process end to end EMV transactions, focusing on authentication, approved security and quick merchant adoption which allows the users to process payments with a wide range of devices over a secure and seamless transaction.
MOBI724’s PCI and EMV cloud-based switch, with their device agnostic connectivity, simplifies deployment and integration, and introduces new payment and digital incentives solutions to the market enabling multi layered intelligent transactions therefore SMART TRANSACTIONS.
- Published in Financial Technology, Mobi724 Global Solutions, Mobile Technology, News Home, Technology
Mobi724 Global Solutions Inc. (MOS:CSE) Signs Strategic Alliance with FutureBrand
MOBI724 S.A, Wholly Owned Subsidiary of Mobi724 Global Solutions Inc. (MOS:CSE) Signs Strategic Alliance with FutureBrand, Brand Strategy & Design Consultancy of the McCann-Erickson WorldGroup
– Momentum Public Relations – March 29, 2016
MOBI724 Global Solutions Inc. (“MOBI724” or the “Company”) (MOS:CSE), a Fintech technology leader in the digital incentives, couponing and payment space, announces that it has signed a Strategic Alliance with FutureBrand, a brand strategy & design consultancy of the McCann-Erickson WorldGroup, part of the Interpublic Group.
This global strategic alliance will enable MOBI724 to further expand its business and operations into 5 additional countries in Central and South America. The expansion will commence in Colombia where a leading processor is committed to market MOBI724 solutions. The additional countries are: Chile, Peru, Mexico and Argentina, where FutureBrand has offices and operations. MOBI724’s ability to provide mobility and traceability to payment card issuers and retailers, combined with FutureBrand’s market leadership will allow the joint venture to deliver and monetize MOBI724’s seamless payment card link @ POS transaction and digital marketing solutions.
Marcel Vienneau – CEO of MOBI724 stated “This partnership with FutureBrand illustrates a great opportunity for MOBI724, and will enable us to quickly expand our solutions deployment in Central and South America. Impressive results were attained at recent partnership meetings due to the dynamic efforts from FutureBrand and their eco-system, in positioning MOBI724’s solutions as unique and innovative solutions. We plan to develop a strong partnership to leverage both companies’ core competencies in this fast growing market.”
“We are very happy to engage with MOBI724 in this strategic alliance, which will enable us to enhance our digital offering and become market leaders in the digital couponing and incentives market in the countries where we operate.” says Luis Rey, Managing Partner FutureBrand.
About FutureBrand.
FutureBrand is the creative future company; a global brand and innovation company, part of the Interpublic Group. Through traditional branding skills and foresight, FutureBrand helps companies create the future for their brands and businesses.
Around the world, FutureBrand combines strategic thinking and creative inspiration to help clients create, build and manage brands. Whether branding a company, a product, a service or a movement FutureBrand believes that great results can only be achieved through a combination of inspiration and collaboration.
FutureBrand works in over 21 markets around the world with top international brands.
About MOBI724 Global Solutions
MOBI724 Global Solutions Inc. (MOS:CSE), a Fintech corporation based in Montreal (Canada), offers a unique and fully integrated suite of solutions – PAYMENT-COUPONING AND LOYALTY all in one, a leader in the Fintech industry.
Our vision is to enhance the value of commoditized payment transactions to the players in this eco-system (card associations, banks, mobile carriers and retailers) by adding layers of intelligence to these card-linked transactions (i.e. smart transactions) in a seamless manner for all the players in the eco-system.
MOBI724 Global Solutions unleashes the true potential of both payment and card-linked couponing/rewards transactions for both online and offline points of sale (POS).
The Corporation provides its customers with full and comprehensive traceability and enriched consumer data through its offering. Its solutions enables card associations, retailers, manufacturers, offer providers, mobile operators and card issuers to create, manage, deliver and “track and measure” incentive campaigns worldwide to ANY mobile device and allow its redemption at ANY point of sales.
Our credit and debit EMV payment solutions will allow banks to process end to end EMV transactions, focusing on authentication, approved security and quick merchant adoption which allows the users to process payments with a wide range of devices over a secure and seamless transaction.
MOBI724’s PCI and EMV cloud-based switch, with their device agnostic connectivity, simplifies deployment and integration, and introduces new payment and digital incentives solutions to the market enabling multi layered intelligent transactions therefore SMART TRANSACTIONS.
For more information on its products and on MOBI724 Global Solutions, visit www.mobi724globalsolutions.com.
- Published in Financial Technology, Mobi724 Global Solutions, News Home, Technology
Dealnet Provides Update on EcoHome Acquisition and Integration
Dealnet Provides Update on EcoHome Acquisition and Integration
– Momentum Public Relations – March 29, 2016
Dealnet Capital Corp. (DLS:tsxv), is pleased to provide an update to inform shareholders and the market on its recent activities including those related to the acquisition of EcoHome Financial (“EcoHome”) which was completed on February 18, 2016.
Integration and Growth of Consumer Finance Business
The Company is pleased to announce that the integration of EcoHome into Dealnet’s existing consumer finance business is progressing well. Our collective sales team is focused on growing originations in the HVAC and home improvement sector. The physical operations of EcoHome have now moved to the offices of Dealnet’s consumer finance business. The Company also continues to invest in innovative technology around its mobile lending platform to enhance the consumer and dealer experience.
Dealnet’s consolidated loan portfolio as of the end of February 2016 now stands at approximately $80 million and the Company continues to originate a significant volume of high quality leases and loans weekly.
Dealer Additions
The Company continues to attract high quality dealers and has dozens in various stages of on-boarding. Earlier in March, the Company signed a five-year exclusivity agreement with a large HVAC dealer in Ontario who is incented to originate in excess of $15 million per year over the term of the agreement. The Company is also in discussions with a number of strategic partners, including industry associations and equipment manufacturers that have the potential to drive significant originations of finance products. The Company expects to close additional large volume wins throughout 2016.
Underwriting Capacity
As part of the EcoHome acquisition, existing EcoHome facilities were migrated with the transaction providing EcoHome and Dealnet with an attractive cost of capital, reducing Dealnet’s overall cost of underwriting. The Company is currently in advanced discussions with a number of additional lenders and is negotiating underwriting capacity to support the expected growth in our consumer finance business. The Company expects to bring these additional facilities online over the coming months and will provide further updates in due course.
Filing of Business Acquisition Report
The Company also announces that it has filed its Business Acquisition Report related to the EcoHome acquisition which is available on SEDAR.
Forward Looking Statements
This news release contains certain “forward-looking information” within the meaning of applicable securities law including statements regarding the Company, integration of the EcoHome business, loan origination volumes and growth, strategic partnerships and underwriting capacity. Forward looking information is frequently characterized by words such as “plan”, “expect”, “project”, “intend”, “believe”, “anticipate”, “estimate”, “may”, “will”, “would”, “potential”, “proposed” and other similar words, or statements that certain events or conditions “may” or “will” occur. These statements are only predictions. Forward-looking information is based on the opinions, assumptions and estimates of management at the date the information is provided, and is subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking information including the risks relating to the challenges in integrating the business and product lines of Dealnet and EcoHome, general risks relating to the consumer finance industry and many other factors beyond the control of the Company. For a description of these and other risks and uncertainties facing the Company and its business and affairs, readers should refer to the Company’s Management’s Discussion and Analysis. The Company undertakes no obligation to update forward-looking information if circumstances or management’s estimates or opinions should change, unless required by law. The reader is cautioned not to place undue reliance on forward-looking information.
About Dealnet Capital Corp.
Dealnet is an engagement enabled consumer finance company that is initially focused on home improvement finance solutions including heating ventilation and air conditioning financing and leasing. Dealnet leverages its large scale customer service and engagement technology platform to attract home improvement dealers by providing front and back office services to them resulting in dealer origination growth.
For additional information please visit www.sedar.com.
- Published in Dealnet News, Financial Technology, News Home, Technology
DealNet closes acquisition of EcoHome Financial
Dealnet Closes the Acquisition of EcoHome Financial
– Momentum Public Relations – Feb.18
Dealnet Capital Corp. (“Dealnet” or the “Company”) (TSX VENTURE:DLS) today announced that it has closed the previously announced acquisition of EcoHome Financial Inc. (“EcoHome”), a premier non-bank lender in the Canadian heating, ventilation and air conditioning (HVAC) and home improvement segments, from Chesswood Group Limited (the “Acquisition”) for total consideration of approximately $35 million.
Pursuant to an amendment to the share purchase agreement dated February 17, 2016, the consideration paid for the Acquisition consisted of (i) $29 million in cash, (ii) 6,039,689 common shares of Dealnet having an aggregate value of $3.5 million; and (iii) a two-year unsecured convertible vendor take-back note in the principal amount of $2.5 million that bears interest at a rate of 6.0{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} per annum and is convertible by the holder into common shares of Dealnet at a conversion price of $0.64 per share.
In connection with the Acquisition, the Company previously issued 54,545,700 subscription receipts (the “Subscription Receipts”) at a price of $0.55 per Subscription Receipt for gross proceeds of approximately $30 million (the “Offering”). All of the Subscription Receipts issued pursuant to the Offering have been exchanged for common shares of Dealnet on a one-for-one basis as of today’s date. The net proceeds of the Offering have been released from escrow and were used to pay a portion of the purchase price of the Acquisition.
EcoHome has a seasoned, profitable loan book of over $60 million and a year over year origination growth rate of approximately 40{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce}. The EcoHome portfolio consists of long term finance assets that have historically predictable revenue and cash flows. It operates on the same loan management software as Dealnet, making integration a straightforward process. Key EcoHome underwriters have transferred and/or increased their line capacity with the deal in support of the transaction and continued growth.
“This significant transaction elevates Dealnet’s lending business to a leading competitive position in this sector. The quality of the loan book within the home improvement space is demonstrated by 0.25{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} loan loss rates net of recoveries which continues to attract low cost underwriting,” said Michael Hilmer, Dealnet’s Chief Executive Officer.
As part of the Acquisition, Dealnet acquires all customer contracts, vendor finance agreements, employees, operating platform, systems, agreements and other assets of EcoHome. Dealnet plans to combine treasury functions, technology, risk and credit management and overall origination capabilities with no job loss due to the considerable growth trajectory demonstrated by EcoHome and Dealnet.
“We are particularly pleased with the strong institutional support from our bankers and underwriters for our aggressive profitable growth strategy as we accelerate our plans to become one of the leading non-bank consumer lenders” said Dr. Steven Small, Dealnet’s Executive Chairman.
About Dealnet Capital Corp.
Dealnet is an engagement enabled consumer finance company that is initially focused on home improvement finance solutions including heating ventilation and air conditioning financing and leasing. Dealnet leverages its large scale customer service and engagement technology platform to attract home improvement dealers by providing front and back office services to dealer origination growth.
- Published in Dealnet News, Financial Technology, News Home
Mobi724 Global Solutions Inc. (MOS:CSE), Signs a Commercial Agreement with First Data Cono Sur S.R.L.
Mobi724 S.R.L. Inc., a Wholly Owned Subsidiary of Mobi724 Global Solutions Inc. (CSE:MOS), Signs a Commercial Agreement with First Data Cono Sur S.R.L.
– Momentum Public Relations – Feb. 11, 2016
Revolutionary, strengthened and more secure, payment card linked and mobile redemption platform solution is ready to be rolled out.
Mobi724 Global Solutions Inc. (MOS:CSE), a technology leader in the digital incentives, couponing and payment space, announces that its wholly owned Argentinian subsidiary, Mobi724 S.R.L. Inc. (“Mobi724 Argentina”), has signed a commercial agreement with First Data Cono Sur S.R.L. (“First Data”) to route its transactions and offer its innovative solutions to First Data’s partner banks and retailer clients.
The integration of the Mobi724 platform with First Data’s gateway will allow immediate authorization of coupons and/or rewards redemptions.
This agreement will enable First Data and Mobi724 Argentina to offer Mobi724’s Digital Incentive Engine and services platform to retailers, offer providers, mobile operators and card issuers to create, manage, deliver and authorize incentive campaigns to ANY mobile device or payment card.
Marcel Vienneau CEO of Mobi724 Global stated: “The agreement with First Data Cono Sur S.R.L. will allow us to bring our solution to every Point of Sale where First Data is connected in Argentina, enabling the use of the Mobi724 platform for redemption of card linked coupons and rewards in a seamless transaction process for both their banks and merchants. This will enable us to accelerate our market growth with their banks’ card portfolios. This white label solution will enhance the traction in retail sales and follows the growing trend in consumer buying behavior based on promotions and coupons.”
About First Data Cono Sur S.R.L.
First Data Cono Sur SA is based in Argentina and operates as a subsidiary of First Data International Incorporated, which is a global leader in payment technology and services solutions. With 23,000 owner-associates and operations in 36 countries, the company provides secure and innovative payment technology and services to more than six million merchants and financial institutions around the world, from small businesses to the world’s largest corporation, with a presence in 118 countries.
About Mobi724 S.R.L. and Mobi724 Global Solutions Inc.
Mobi724 S.R.L. of Argentina, is a wholly owned subsidiary of Mobi724 Solutions Inc., a Canadian corporation with offices in Montreal (Canada) and Buenas Aires (Argentina). Mobi724 Solutions Inc. is a wholly owned subsidiary of Mobi724 Global Solutions Inc. (CSE:MOS).
Mobi724 Global Solutions Inc., a corporation based in Montreal (Canada), offers a unique and fully integrated suite of solutions – PAYMENT-COUPONING AND LOYALTY all in one.
Our vision is to enhance the value of commoditized payment transactions to the players in this eco-system (card associations, banks, mobile carriers and retailers) by adding layers of intelligence to these card-linked transactions (i.e. smart transactions) in a seamless manner for all the players in the eco-system.
Mobi724 Global Solutions unleashes the true potential of both payment and card-linked couponing/rewards transactions for both online and offline points of sale.
The Corporation provides its customers with full and comprehensive traceability and enriched consumer data through its offering. Its solutions enables card associations, retailers, manufacturers, offer providers, mobile operators and card issuers to create, manage, deliver and “track and measure” incentive campaigns worldwide to ANY mobile device and allow its redemption at ANY point of sales.
Our credit and debit EMV payment solutions will allow banks to process end to end EMV transactions, focusing on authentication, approved security and quick merchant adoption which allows the users to process payments with a wide range of devices over a secure and seamless transaction.
Mobi724’s PCI and EMV cloud-based switch, with their device agnostic connectivity, simplifies deployment and integration, and introduces new payment and digital incentives solutions to the market enabling multi layered intelligent transactions therefore SMART TRANSACTIONS.
For more information on its products and on Mobi724 Global Solutions, visit www.mobi724globalsolutions.com.
- Published in Financial Technology, Mobi724 Global Solutions, Mobile Technology, News Home, Technology
Mobi724 Global Solutions Inc. (CSE:MOS) Announces $1.53M in Sales
Mobi724 Global Solutions Inc. (CSE:MOS) Announces $1.53M in Sales for 2015, Restatements of Some Interim Unaudited Consolidated Financial Statements for 2015 and Company Highlights for 2015
– Momentum Public Relations – Feb. 08, 2016
Mobi724 Global Solutions Inc. (“Mobi724” or the “Company”) (CSE:MOS), a technology leader in the digital incentives, couponing and payment space, announces that it has booked sales of just over $1.53M for the fiscal year ending December 31, 2015, including the sales from its previously announced acquisition IQ 7/24 (for Q2, Q3 and Q4). The 2015 consolidated sales has been reviewed by the audit committee.
The Company will release its consolidated results in April 2016. The Company will amend its condensed interim unaudited consolidated financial statements for the three and the six month periods ended June 30, 2015 and for the three and nine month periods ended September 30, 2015.
The 2015 consolidated sales and expenses, excluding non-recurrent expenses, compared to previous years are:
MOBI724 GLOBAL SOLUTIONS INC |
AUDITED |
AUDITED |
INTERNAL |
||||
FINANCIAL REVIEW | 2013 | 2014 | 2015 | ||||
OPERATIONS: | |||||||
SALES | $65,935 | $149,637 | $1,529,611 | ||||
ADJUSTED (1) OPERATING EXPENSES | ($8,566,893 | ) | ($7,060,089 | ) | ($5,641,355 | ) | |
ADJUSTED (1) NET FINANCIAL EXPENSES | ($24,391 | ) | ($99,995 | ) | ($39,097 | ) | |
TOTAL ADJUSTED EXPENSES | ($8,591,284 | ) | ($7,160,084 | ) | ($5,680,452 | ) | |
ADJUSTED NET LOSS BEFORE INCOME TAXES- | ($8,525,349 | ) | ($7,010,447 | ) | ($4,150,841 | ) | |
(1)Excluding non recurrent expenses | |||||||
FINANCING ACTIVITIES (2): | 2013 | 2014 | 2015 | ||||
Convertible Debt | $400,000 | $2,900,000 | $1,083,204 | ||||
Common Shares | $4,869,077 | $2,443,437 | $2,014,965 | ||||
Long-term debt & Demand debt | $137,700 | $733,127 | $0 | ||||
$5,406,777 | $6,076,564 | $3,098,169 | |||||
(2)Annually (non cumulative basis) |
The important modifications to the condensed interim unaudited consolidated financial statements for the three and the six month periods ended June 30, 2015 and for the three and nine month periods ended September 30, 2015 will be as follows:
- Presentation of additional information regarding the acquisition of IQ 7/24 in 2015 by the Company;
- Restatement of the Company’s Consolidated Statements including: statements of net income and comprehensive loss, financial position, cash flows and changes in equity;
- Additional note disclosure with respect to segmented information;
- Restatement to the Company’s Management Discussion and Analysis in order to reflect the above adjustments and to present additional information.
The key highlights for 2015 are:
- Management has improved the balance sheet;
- Successfully completion of an acquisition (IQ 7/24) that should add over $2M yearly sales in the following years;
- Raised financing of approximately $3 M in 2015 including an investment of over $1.8 M by a prestigious and global investment fund;
- Successfully concluded multiple contracts with clients and also agreements with partners and resellers that are expected to contribute to our top line growth in the coming year.
Marcel Vienneau, CEO of the Company, stated: “This past year was very challenging as we refocused the Company’s attention on the monetization of all of our innovative solutions. Our customers have begun to see the true value that our solutions bring to their businesses and this will enable us to deliver solid value to our shareholders during the course of 2016 and beyond.”
About Mobi724 Global Solutions
Mobi724 Global Solutions (CSE:MOS), a corporation based in Montreal, Canada offering a unique and fully integrated suite of solutions – PAYMENT-COUPONING AND LOYALTY – all in one.
Our vision is to enhance the value of commoditized payment transactions to the players in this eco-system (card associations, banks, mobile carriers and retailers) by adding layers of intelligence to these card linked transactions (i.e. smart transactions) in a seamless manner for all the players in the eco-system.
Mobi724 Global Solutions unleashes the true potential of both payment and card linked couponing/rewards transactions for both online and offline points of sale.
The Corporation provides its customers with full and comprehensive traceability and enriched consumer data through its offering. Its solutions enables card associations, retailers, manufacturers, offer providers, mobile operators and card issuers to create, manage, deliver and “track and measure” incentive campaigns worldwide to ANY mobile device and allow its redemption at ANY point of sales in real time.
Our credit and debit EMV payment solutions will allow banks to process end to end EMV transactions, focusing on authentication, approved security and quick merchant adoption which allows the users to process payments with a wide range of devices over a secure and seamless transaction.
Mobi724’s PCI and EMV based switch, with their device agnostic connectivity, simplifies deployment and integration, and introduces new payment and digital incentives solutions to the market enabling multi layered intelligent transactions therefore SMART TRANSACTIONS.
For more information on its products and on Mobi724 Global Solutions, visit www.mobi724globalsolutions.com.
- Published in Financial Technology, Mobi724 Global Solutions, Mobile Technology, News Home
Dealnet Capital Corp. (DLS.v) Completes $30 Million Private Placement
Dealnet Capital Corp. Completes $30 Million Private Placement
– Momentum Public Relations – Feb. 05, 2016
Dealnet Capital Corp. (“Dealnet” or the “Company“) (TSX VENTURE:DLS) is pleased to announce that it has closed its previously announced private placement financing of subscription receipts (“Subscription Receipts”).
Dealnet issued, on a private placement bought deal basis, 54,545,700 Subscription Receipts at a price of $0.55 per Subscription Receipt (the “Offering Price”) for gross proceeds of $30 million (the “Offering”). The Offering was led by GMP Securities L.P. (“GMP”), Paradigm Capital Inc., Cormark Securities Inc. and INFOR Financial Inc. (collectively, the “Underwriters”).
Michael Hilmer, Dealnet’s Chief Executive Officer, commented: “We are very pleased with the support the market has shown in Dealnet and our strategic plan through this Offering. We remain on track to complete our purchase of EcoHome and significantly increase our loan book and organic origination volumes. The combination of EcoHome and One Dealer Financial Services, our current funding brand, is a powerful growth engine for Dealnet.”
Each Subscription Receipt entitles the holder to receive upon exchange thereof for no additional consideration, one common share of Dealnet in exchange for each Subscription Receipt upon satisfaction of certain escrow release conditions, including the satisfaction or waiver of all conditions precedent (but for the payment of the purchase price) to the closing by the Company of the acquisition of EcoHome Financial Inc. (the “Acquisition”), provided that the conditions have been satisfied by March 31, 2016. Please refer to Dealnet’s press release issued on January 21, 2016 for additional details about the Acquisition.
The Subscription Receipts were issued pursuant to a subscription receipt agreement (the “Subscription Receipt Agreement”) among the Company, GMP and Computershare Trust Company of Canada, as subscription receipt agent. Pursuant to the Subscription Receipt Agreement, the proceeds of the Offering, net of Offering expenses and 50{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} of the Underwriters’ commission, have been placed in escrow pending delivery of the escrow release notice by the Company.
If the escrow release conditions are satisfied by 5:00 p.m. (Toronto time) on March 31, 2016, the escrowed funds (less the balance of the Underwriters’ commission) will be released to the Company. The Company will use such funds towards the cash portion of the purchase price of the Acquisition, and, any remaining proceeds, for Dealnet’s future growth as well as for general corporate purposes. In the alternative, if: (i) the Acquisition closing does not occur prior to 5:00 p.m. (Toronto time) on March 31, 2016; (ii) the share purchase agreement for the Acquisition is terminated at an earlier date; or (iii) Dealnet announces that it does not intend to proceed with the Acquisition, the subscription receipt agent and Dealnet will return to holders of Subscription Receipts an amount per Subscription Receipt equal to the Offering Price plus a pro rata share of the interest earned on the escrowed funds, if any, net of any applicable withholding taxes.
Certain directors, officers and employees of Dealnet participated in the Offering and purchased Subscription Receipts for gross proceeds of approximately $1.4 million.
In connection with the Offering, the Underwriters are entitled to a cash commission of $0.033 per Subscription Receipt (except with respect to sales to certain specified purchasers agreed upon by the Company and GMP to a maximum of $1,000,000 (the “President’s List”) in respect of which the Underwriters are entitled to a cash commission of $0.0165 per Subscription Receipt) and 3,218,200 non-transferable broker warrants (“Broker Warrants”). 50{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} of the Underwriters’ commission was paid and 1,609,100 Broker Warrants were issued on the closing of the Offering and the remaining 50{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} of the cash commission is payable and 1,609,100 Broker Warrants are issuable on the closing of the Acquisition. Each Broker Warrant is exercisable by the holder for one common share of Dealnet for a period of 18 months following the closing of the Offering at a price of $0.55 per Broker Warrant.
All securities issued in the Offering (including any common shares issued on the exchange of the Subscription Receipts) are subject to a hold period of four months and one day, expiring on June 6, 2016.
The Offering is subject to the final approval of the TSX Venture Exchange.
About Dealnet Capital Corp.
Dealnet is an engagement enabled consumer finance company that is initially focused on home improvement finance solutions including heating ventilation and air conditioning financing and leasing. Dealnet leverages its large scale customer service and engagement technology platform to attract home improvement dealers by providing front and back office services to them resulting in dealer origination growth.
- Published in Dealnet News, Financial Technology, News Home
The Digital Couponing Revolution
The Digital Couponing Revolution
Momentum Public Relations
Digital couponing is rapidly gaining popularity with the rise of the digital age. Social media, email, and face-to-face online chat are the primary means of communication. Gone are the days of coupons being only for the destitute desperately seeking the next deal in the Sunday paper. It’s no longer necessary to stalk the papers and magazines for useful paper coupons (although this is still a legitimate couponing method).
Right now, there are three major methods of digital couponing available with a fourth emerging as possibly the most convenient of all.
Printable Coupons
Many coupons and quality deals can be found online. Some of these coupons are printable. They require you to have a printer and often sign up for the website’s email list. Using this type of digital coupon can yield a lot of valuable in-store deals. There are even some that can be combined with other offers for maximum savings.
eCoupons
eCoupons can be used one of two ways. First, they can be used as codes to make online purchases. There are certain websites that offer coupon codes or cash back for making purchases through their websites. Other times, you can use eCoupons that load directly to your store loyalty card. When you use your loyalty card at checkout, your coupon is automatically applied to your total.
Mobile Coupons
Mobile coupons are growing in popularity and can be used in several different ways. Some coupons can be downloaded to a smartphone and used in store by scanning the barcode. Others can be used by downloading applications that provide coupons for specific brands or general products and snapping a picture of the receipt or scanning the product barcode after purchase. Using several apps for a single grocery trip can sometimes yield half-price or even free products.
Real Time Mobile Coupons
In addition to these couponing methods, a new way to coupon is emerging and promises to be even easier. A leading innovator in this method is Mobi724. They offer digital couponing that is personalized to the user and directed to the customer’s bank or credit card. The customer simply needs to accept the coupon on the Mobi724 app and make the in-store purchase with his or her respective bank or credit card. The coupon rate is then deducted from the bank or credit card statement for instant savings.
The great thing about this couponing method is the level of convenience that it offers customers. It’s simple and can be used on any mobile device worldwide. The method uses analytics based on the professed interests of the customer. When you download the application, you will be asked to provide a list of your interests, and coupons are chosen for you based on those interests. When you receive an alert for one that you want to use, go to the store, make your purchase with your bank or credit card, and you’re done.
There is no clipping coupons, no searching multiple applications for the best deals, no snapping pictures of receipts, and no scouring websites for the coupons that you need. This couponing method does the work for you. All you have to do is shop like you normally would, and your savings is automatically applied to your account.
In today’s busy world, we are always looking for ways to make life just a little easier. It’s easy to get buried in the clutter of multiple paper coupons and couponing apps. It’s hard to keep track of couponing on top of all of our other responsibilities. It’s great to have a method available that takes away the extra steps or can be used in addition to those steps for maximum savings.
Whatever couponing method you choose, there is no doubt that the digital age has revolutionized couponing and made it even easier for people from all walks of life to save on their everyday purchases.
- Published in Blog, Financial Technology, Mobi724 Global Solutions, Mobile Technology, Technology
What to Expect from FinTech this Year
What to Expect from FinTech in 2016
– Momentum Public Relations –
Financial technology is an area that moves quickly. Since this type of technology directly impacts commerce around the globe, it shouldn’t come as a surprise that there are a lot of incentives for companies to move this industry forward. While there’s been a lot of exciting advancements in this space over the last few years, 2016 is already shaping up to be an even bigger year for the industry.
To help shine some light on what you can expect from FinTech over the next twelve months, we’ve put together a list of seven trends and forecasts that are likely to stand out the most:
Making Compliance as Easy as Possible
The banking industry has plenty of indiscretions on its record. As a result, the industry is now facing even more regulation issues. These increased regulations are targeted at transactions both online and offline. Because compliance creates a lot of additional work for financial institutions, these requirements present a significant opportunity for companies that can develop FinTech solutions specifically designed around streamlining compliance issues.
Helping Consumers Become Smarter with Their Finances
It’s no secret that plenty of financial institutions have engaged in consumer practices that were misleading or even predatory. However, that doesn’t mean the entire industry is looking for opportunities to exploit consumers. On the contrary, there are a lot of startups and other companies throughout the FinTech space that are working hard to help consumers become even smarter and more empowered with their finances. Many of these efforts are focused at younger consumers dealing with issues like student loan debt or older consumers who have concerns about their retirement planning being adequate enough.
Providing a Wider Range of Payment Options
More businesses than ever before are engaging with consumers and other businesses across the globe. The globalized nature of commerce means that both individuals and organizations are looking for ways to facilitate transactions without long delays or expensive processing fees. In addition to all of the efforts being built around Bitcoin, there are many other financial technologies exploring various ways to make and receive payments on a global scale.
Creating New Channels for Loans
Although it’s possible to start many types of businesses with very little upfront investment, most businesses still need at least some capital to get off the ground or grow. That’s why a very interesting area within the FinTech space is companies that are allowing small businesses to bypass traditional lending institutions and secure the types of loans they need at very appealing rates. There’s also a lot happening around giving individuals more control in regards to obtaining and managing loans.
Improving the Online Shopping Experience
While online shopping has come a long way over the last few years, it’s still not as seamless as most consumers and merchants would like. This is especially true for mobile transactions. Not only are financial technology companies focused on smartphone online shopping, but plenty of companies within this space are looking at how more basic phones in developing parts of the world can be used to facilitate commerce.
Cutting Down How Long It Takes to Get Paid
Both small and large businesses spend a lot of time and resources on activities like collecting invoices and collections. Since those types of inefficiencies can cause cash flow crunches and other headaches, there’s a lot of incentive for FinTech providers to come up with solutions that streamline and speed up the process of collecting payments.
Taking a Stand Against Fraud
As the breaches of several very large companies have shown, financial information and assets still aren’t as secure as they should be. Although standards like EMV are already helping to reduce credit card fraud among in-person payments, the industry still has a long way to go to truly curb the amount of fraud that occurs in relation to both consumer and business finances.
- Published in Blog, Financial Technology, Mobile Technology, Technology