from FB update: Financial reporting status; wit
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Posted On: 02/08/2017 2:29:09 PM
from FB update:
Financial reporting status; with the recent investment, we have been able to move forward with the process of getting current with the SEC and OTC, which is costly. We should receive Q1, Q2 & Q3 financials from our accountant in Israel this week, enabling us to complete our internal financial statements and send them off to the auditor for review. The review should go relatively quickly, afterwards we will post to the OTC along with the required supporting docs, legal opinion and fees, and file the appropriate documents and forms with the SEC. Once this process has been completed, we should become, and remain, current in our filing status.
Africa: We continue to build out eMailMoni capability, adding new features, and enhancing the user experience through user feedback. The two main features we are working on currently are the ATM integration which is essentially complete, and the MasterCard integration. These systems will connect eMialMoni to non-bank users including those without a bank account, those with accounts at other banks, and users of MasterCard.
Cardless ATMs allow people to send and receive cash from ATM machines without the need for a card, instead they interact with the ATM using a code. Money can be moved on our platform pay/top-up mobile airtime, pay bills and send money to anyone with an email address or mobile number.
We have fully executed agreements with a second financial institution in Africa, the deal will be announced in a press release as soon as we have signed authorization from the related parties to do so. It's a strong bank with 2 million customers and is rapidly growing.
As previously stated, our focus is on delivering industry leading mobile banking and payment solutions to our partners in Africa, and we are executing well in this regard.
Financial reporting status; with the recent investment, we have been able to move forward with the process of getting current with the SEC and OTC, which is costly. We should receive Q1, Q2 & Q3 financials from our accountant in Israel this week, enabling us to complete our internal financial statements and send them off to the auditor for review. The review should go relatively quickly, afterwards we will post to the OTC along with the required supporting docs, legal opinion and fees, and file the appropriate documents and forms with the SEC. Once this process has been completed, we should become, and remain, current in our filing status.
Africa: We continue to build out eMailMoni capability, adding new features, and enhancing the user experience through user feedback. The two main features we are working on currently are the ATM integration which is essentially complete, and the MasterCard integration. These systems will connect eMialMoni to non-bank users including those without a bank account, those with accounts at other banks, and users of MasterCard.
Cardless ATMs allow people to send and receive cash from ATM machines without the need for a card, instead they interact with the ATM using a code. Money can be moved on our platform pay/top-up mobile airtime, pay bills and send money to anyone with an email address or mobile number.
We have fully executed agreements with a second financial institution in Africa, the deal will be announced in a press release as soon as we have signed authorization from the related parties to do so. It's a strong bank with 2 million customers and is rapidly growing.
As previously stated, our focus is on delivering industry leading mobile banking and payment solutions to our partners in Africa, and we are executing well in this regard.
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