Market Herald logo

Subscribe

Be the first with the news that moves the market
  • Mobi724 Global Solutions Inc. (MOS) has converted $633,915 of debt to common shares
  • The company issued approximately 25.3 million common shares at a price of $0.025
  • This conversion covers $570,915 owed to related parties
  • Mobi724 is a fintech company that allows banks and merchants to offer their customers real-time payment card-linked incentives
  • Mobi724 Global Solutions Inc. (MOS) is unchanged, trading at $0.01 per share as of 2:28 p.m. EST

Fintech company, Mobi724 Global Solutions (MOS), has converted $633,915 of debt to common shares.

The company issued approximately 25.3 million common shares at a price of $0.025. This conversion covers $570,915 owed to related parties. The shares for debt transaction was defined as a related party transaction.

Earlier this month, Mobi724 sought approval from the TSX Venture Exchange for this debt conversion which was made up of the interest of a loan in the amount of $218,540, an $300,000 unpaid salary owed to an executive officer since January 2017, $52,375 in fees payable to board members, and other consulting fees worth $63,000.

Alongside the earlier announcement, Mobi724 also shared it began a private placement offering of its common shares and an unsecured convertible debenture to raise $1.5 million. The offering is still ongoing.

Mobi724 is a fintech company that allows banks and merchants to offer their customers real-time payment card-linked incentives. The company aims to add a layer of AI-driven intelligence to every payment transaction to help generate commercial opportunities for its clients.

Mobi724 Global Solutions Inc. (MOS) is unchanged, trading at $0.01 per share as of 2:28 p.m. EST.


More From The Market Herald
The Market Herald Video

" POET Technologies (TSXV:PTK) partners with LuxshareTech

POET (PTK) has partnered with LuxshareTech, a global technology provider for enterprise and data-communications.
Parkview Project in New World Island, Newfoundland

" Lithium One (TSXV:LONE) expands land position in Northwest Ontario

Lithium One Metals (LONE) has signed an agreement to acquire an additional lithium property.

" Candente Copper (TSX:DNT) Closes Private Placement With Fortescue Metals

Candente Copper (DNT) closes the previously announced private placement with Nascent Exploration Fortescue Metals Group, raising $4,000,000.
The Market Herald Video

" Nextech AR Solutions (CSE:NTAR) to spin out Toggle3D

Nextech (NTAR) plans to pursue a direct spin-out of its AI-powered SaaS platform, Toggle3D.