Based on the 10Q posted today by $ARGQ the Creditum IPO should be completed in the next two months. See below.
G. Business Development:
Our specific plan of operations and milestones from August 2019 through July 2020 are as follows:
1. CAPITAL MARKETS
The Company intends to continue its mandate to assist its client, Creditum Limited, with the listing of the Creditum Limited´s shares on the London Stock Exchange (“LSE”). Management believes that this particular public listing should be fully executed and finalized by the end of Q3 2019 or early Q4 of 2019.
2. SEEK FURTHER FUNDING FOR FURTHER INORGANIC GROWTH VIA ACQUISITION
We intend to continue to seek further funding under similar or better terms than the funding that we secured during 2018. We are currently negotiating terms with a new European based Regulated Fund for long term funding in excess of U.S. $10 million to accelerate our inorganic growth and acquisition plan with a view to consolidate our Company in the market place. However, we do not currently have a written agreement for this additional funding, but we do expect to finalize terms in the near future.
3. ACQUIRE CERTAIN INDEPENDENT FINANCIAL ADVISORY FIRMS WITH FUNDS UNDER ADMINISTRATION:
During the second quarter of 2019, management commenced certain negotiations to acquire 100% of an Independent Financial Advisory (IFA) firm based in London (United Kingdom). This particular targeted IFA currently has 136 Million GBP (approximately U.S.$169 Million) of Funds Under Administration and historical recurring revenues of a little more than One Million GBP (approximately U.S. $1.2 million). However, we do not currently have any written agreements as management is still in verbal negotiations with the owners of this IFA.
The Company intends to target and acquire more Independent Financial Advisory firms with funds under administration during the next 12 to 24 months.
As the Company acquires more Financial Advisory firms, each book of business will be analyzed to achieve the maximum return and revenue from the client bank without affecting the client offering. In addition, certain cost savings will be managed into the budgets by using technology for the administration, looking for duplication of services and by managing the client and the funds under administration in a more efficient way.
The acquisition of these entities will open up a new network for the services of:
○ New capital markets clients.
○ Distribution of new funds / products.
○ Maximizing the current books of business being bought.
○ Expand and thus increase business via more financial advisors.
○ Seek products that offer both a minimum of 1% trail (recurring) income and a secure risk averse home for clients’ funds.
○ Seek cost savings, where possible, due to elimination of duplicate services.
○ Implement rapid and efficient systems in order to allow information to flow to the clients and to management more effectively.
○ Acquiring smaller, active client banks into our licenses and procedures for cost effective growth.
4. CONTINUE TO DEVELOP AND GROW ALREADY ACQUIRED IFA BUSINESSES
By leveraging the licenses that we now own, we can significantly increase our business and revenues at very little extra cost and improve profitability. We intend to market the Company as a United Kingdom licensed entity for various Appointed Representatives (“AR”) and also Introducer Appointed Representatives (“IAR”). In 2018, Aurum Wealth Management Limited was approved by the U.K. Financial Authority (“FCA”) as an AR of Cheshire Trafford (U.K.) Limited and in early 2019, Global Alternative Administration (The Pension Admin Team) was appointed as an IAR to Cheshire Trafford (U.K.) Limited.
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5. EXPLORE A FULLY COMPLIANT EUROPEAN UNION (EU) MIFID II LICENSE
Having a European Union (EU) license will allow the Company to act in a role similar to an Appointed Representative (AR) for European Union wide brokerages. On October 1, 2018, the rules regarding financial services changed in Europe. There are over 10,000 entities and also individuals offering advice in Europe who now require a new license and we, through our subsidiary, Cheshire Trafford (U.K.) Limited, intend to thoroughly explore these new business opportunities.
6. COMMENCE A TARGETED MARKETING PLAN
During the third quarter of our 2019 fiscal year, our United Kingdom regulated business, Cheshire Trafford (U.K.) Limited, will continue with the direct marketing campaign that commenced in the second quarter of 2019, within the region using traditional print media, radio advertising, social media and editorial pieces. In conjunction with this campaign, the website and marketing of the Company will be refocused with a complete new image based around “Over 40 years of serving the community”. Two days per month in our office in the United Kingdom, we will offer free consultation to prospective clients that come and visit us, thus enabling us to potentially recruit them as new clients.
7. FURTHER EXPAND OUR RANGE OF SERVICES TO OUR FINANCIAL SERVICES CLIENTS
We will bring additional products to the client bank in order to maximize the potential returns per client with complementary products such as mortgages, trusts and more attractive funds.
https://www.otcmarkets.com/filing/html?id=135...HKnD2JBAyh
G. Business Development:
Our specific plan of operations and milestones from August 2019 through July 2020 are as follows:
1. CAPITAL MARKETS
The Company intends to continue its mandate to assist its client, Creditum Limited, with the listing of the Creditum Limited´s shares on the London Stock Exchange (“LSE”). Management believes that this particular public listing should be fully executed and finalized by the end of Q3 2019 or early Q4 of 2019.
2. SEEK FURTHER FUNDING FOR FURTHER INORGANIC GROWTH VIA ACQUISITION
We intend to continue to seek further funding under similar or better terms than the funding that we secured during 2018. We are currently negotiating terms with a new European based Regulated Fund for long term funding in excess of U.S. $10 million to accelerate our inorganic growth and acquisition plan with a view to consolidate our Company in the market place. However, we do not currently have a written agreement for this additional funding, but we do expect to finalize terms in the near future.
3. ACQUIRE CERTAIN INDEPENDENT FINANCIAL ADVISORY FIRMS WITH FUNDS UNDER ADMINISTRATION:
During the second quarter of 2019, management commenced certain negotiations to acquire 100% of an Independent Financial Advisory (IFA) firm based in London (United Kingdom). This particular targeted IFA currently has 136 Million GBP (approximately U.S.$169 Million) of Funds Under Administration and historical recurring revenues of a little more than One Million GBP (approximately U.S. $1.2 million). However, we do not currently have any written agreements as management is still in verbal negotiations with the owners of this IFA.
The Company intends to target and acquire more Independent Financial Advisory firms with funds under administration during the next 12 to 24 months.
As the Company acquires more Financial Advisory firms, each book of business will be analyzed to achieve the maximum return and revenue from the client bank without affecting the client offering. In addition, certain cost savings will be managed into the budgets by using technology for the administration, looking for duplication of services and by managing the client and the funds under administration in a more efficient way.
The acquisition of these entities will open up a new network for the services of:
○ New capital markets clients.
○ Distribution of new funds / products.
○ Maximizing the current books of business being bought.
○ Expand and thus increase business via more financial advisors.
○ Seek products that offer both a minimum of 1% trail (recurring) income and a secure risk averse home for clients’ funds.
○ Seek cost savings, where possible, due to elimination of duplicate services.
○ Implement rapid and efficient systems in order to allow information to flow to the clients and to management more effectively.
○ Acquiring smaller, active client banks into our licenses and procedures for cost effective growth.
4. CONTINUE TO DEVELOP AND GROW ALREADY ACQUIRED IFA BUSINESSES
By leveraging the licenses that we now own, we can significantly increase our business and revenues at very little extra cost and improve profitability. We intend to market the Company as a United Kingdom licensed entity for various Appointed Representatives (“AR”) and also Introducer Appointed Representatives (“IAR”). In 2018, Aurum Wealth Management Limited was approved by the U.K. Financial Authority (“FCA”) as an AR of Cheshire Trafford (U.K.) Limited and in early 2019, Global Alternative Administration (The Pension Admin Team) was appointed as an IAR to Cheshire Trafford (U.K.) Limited.
13
5. EXPLORE A FULLY COMPLIANT EUROPEAN UNION (EU) MIFID II LICENSE
Having a European Union (EU) license will allow the Company to act in a role similar to an Appointed Representative (AR) for European Union wide brokerages. On October 1, 2018, the rules regarding financial services changed in Europe. There are over 10,000 entities and also individuals offering advice in Europe who now require a new license and we, through our subsidiary, Cheshire Trafford (U.K.) Limited, intend to thoroughly explore these new business opportunities.
6. COMMENCE A TARGETED MARKETING PLAN
During the third quarter of our 2019 fiscal year, our United Kingdom regulated business, Cheshire Trafford (U.K.) Limited, will continue with the direct marketing campaign that commenced in the second quarter of 2019, within the region using traditional print media, radio advertising, social media and editorial pieces. In conjunction with this campaign, the website and marketing of the Company will be refocused with a complete new image based around “Over 40 years of serving the community”. Two days per month in our office in the United Kingdom, we will offer free consultation to prospective clients that come and visit us, thus enabling us to potentially recruit them as new clients.
7. FURTHER EXPAND OUR RANGE OF SERVICES TO OUR FINANCIAL SERVICES CLIENTS
We will bring additional products to the client bank in order to maximize the potential returns per client with complementary products such as mortgages, trusts and more attractive funds.
https://www.otcmarkets.com/filing/html?id=135...HKnD2JBAyh
