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Milestone Scientific to Uplist to the NYSE MKT
http://access-wallstreet.com/top-stories/2015/milestone-scientific-to-uplist-to-the-nyse-mkt/39613
One Horizon’s Aishuo App could boost Alternative Finance and Payment Platform Space
Full write up: http://goo.gl/zrRDdy
(OTCQX: SRCF) Announces Completion in Australia of AUD $25 Million Note Issue by Its Subsidiary Moneytech Finance Pty Ltd
SYDNEY, AUSTRALIA--(Marketwired - April 23, 2015) - Source Financial, Inc. (SRCF), a provider of trade and receivables finance in Australia, today announced the completion by its wholly owned subsidiary, Moneytech Finance Pty Ltd ("Moneytech") of an offering of an AUD$25 million note arranged by FIIG Securities.
Source CEO Hugh Evans said that, "We see this note issue as significant for Moneytech. While continuing to work closely with our senior funder, who has supported us since our inception, we have expanded our lending capabilities and sources of funding significantly. This will allow us to capitalize on our long term growth strategy in a more measured manner."
Mr Evans continued to say that, "The Australian market is increasingly using institutions like Moneytech to fund small to medium sized businesses who are in desperate need of finance to grow. With the added capacity provided by the proceeds of the note issue we should be able to substantially expand both the number of accounts we service and the amount of assets we originate without increasing our costs at the same rate. We're excited by the opportunity this presents us to grow with the market while still maintaining the credit quality of our lending and protection afforded by our credit insurance on the same terms as the existing wholesale facility."
The Subordinated Notes, issued by Moneytech Finance Pty Ltd, bear interest at a rate of 4.65% per annum plus the Australian Bank Bill Swap ("BBSW") rate, payable quarterly in arrears (the BBSW rate as of April 10, 2015 was 2.26% per annum). The Subordinated Notes are payable in full on April 17, 2022, subject to earlier redemption at the request of the holder in the event of a Change of Control (as defined in the Trust Deed), or at the option of the Company on certain prescribed dates. Repayment of the Subordinated Notes has been guaranteed by Moneytech Limited, the corporate parent of Moneytech Finance Pty Ltd, and Moneytech Services Pty Ltd (collectively with Moneytech Limited, the "Guarantors"), all of which are wholly-owned Australian subsidiaries of Source.
The Subordinated Notes are unsecured. Moneytech and the Guarantors have granted a "negative pledge" in favour of the holders whereby they will agree not to grant any liens on their assets.
Moneytech currently has an asset backed wholesale debt facility ("RPA") with its senior financier. Payment of all amounts due under the Subordinated Notes is subordinated to repayment of amounts due under the RPA and any interest payment due may only be paid if, taking into account such payment, Moneytech continues to satisfy certain agreed upon financial covenants set forth in the Subordination Agreement. The RPA is renewed annually on December 31. The borrowing limit under the RPA is currently AUD$50 million, subject to interim agreed upon limits determined by various tests and covenants. The interim agreed upon credit limit under the RPA was AUD$40 million but was reduced to AUD$25 million upon issuance of the Subordinated Notes. As at December 31, 2014 the total amount drawn against the facility was AUD$ 25,927,160.
source: finance.yahoo.com
Someone jsut took out the $0.27 offer, I have been in this stock over 2 years.....IMHO, all stock is cheap under $1.50.
Wow, Company Just DOUBLED in Size. Raised $25 Million, in a bond offering
http://www.otcmarkets.com/edgar/GetFilingPdf?FilingID=10632016
That's Cash money, in hand, non dilutive, to the common stock holder, This is great news.....
SRCF provides various financial products and services to businesses and consumers in Australia and the United States. The company is prepare to list in big board from OTC. With big potential to boost in the near future.
Stock is illiquid and lays under the radar. The company has a mobile platform for peer to peer lending on a truley free market. Company is disruptive to the global financial system and poses many medium term risks due to regulators. Company is equivalent to bitcoin, but this time the jobs act signed by Obama could send this company parabolic through crowd funding. The company has a subsidary called MoneyTech who is forecasting $420million in loans underwrote 2013-2014. Other partners include Hubbed Murdoch Media big $$$. Hubbed will offer many services including wikipay products in kiosk machines at news agents. Revitalizing the convenient store.
WikiPay Payment Network at www.wikipay.com, a proprietary mobile and online cash-based money transfer and payment service ("WikiPay"). WikiPay enables all consumers, banked or unbanked, with any PC or mobile device to send money for $1.00 on any phone, anytime, anywhere.
About Source Financial:
How WikiPay Works
A WikiPay transaction can be completed within minutes in four simple steps:
Visit www.wikipay.com
Sign up for an account
Link your bank account
Send/Receive money
Source Financial, Inc., through its two subsidiaries Moneytech Limited and WikiTechnologies, offers a complete suite of financial products for Consumers and Businesses.
Moneytech offers four main products to the Australian business community : 1) Credit Express - trade finance facilities for SMEs of $25,000- $250,000, 2) Confirmed Capital - 100% Accounts Receivables funding for SMEs up to $5 million, 3) Card Solutions- Wholesale gift and prepaid debit card solutions, and 4) Foreign Exchange solutions - Spot Transactions, Forward Cover, Derivatives and Options. Moneytech's targeted financings are $3-$5 million dollars
Moneytech funded over AUD$ 200 million in loans in 2012 and is forecasting AUD$ 280 million and AUD$ 420 million in funding in 2013 and 2014 respectively. Moneytech currently services more than 5,000 business customers in Australia.
HUBBED partnered with Moneytech, who developed and delivered the majority of the financial services and systems backbone, which allow the Kiosks to conduct transactions.
HUBBED is backed by Matt Handbury of Murdoch Media (related to Rupert Murdoch and News Limited)
HUBBED is a one stop product and service aggregator, working with clients to develop consumer offerings and business solutions to deliver growth and profitability within channels such as the Australian Newsagents Federation, bringing in-store, online and mobile solutions for new products and services to be promoted through the Newsagency channel in Australia.
Where's the $20,000,000 from this January 13, 2013 press release?
"The Wiki Group, Inc. (otcqb:TWGI) ("Wiki Group", or "the Company") is pleased to announce that a leading New York-based investment-banking firm has agreed to increase the Public Shelf Offering to up to $100,000,000.
The Company has retained the investment-banking firm as its exclusive placement agent and financial advisor in connection with a secondary public offering of up to $100 million, which will consist of up to a $20 million first tranche. The agreement shall be applicable only upon The Wiki Group's successful merger with Moneytech Limited, an Australian commercial finance company."
Penny stock players will say anything to sell stock and hope you forget what they said.
Updated OTC info
http://www.otcmarkets.com/stock/SRCF/company-info
New website?
http://www.sourcefinancial.com/
Source Financial Financials
http://finance.yahoo.com/q/is?s=srcf
Source Financial Finalizes Confirmed Capital Debtor Finance Facility for Progility Pty Ltd.
Source Supplies Facility Required for Progility to Continue Its Growth Path
LOS ANGELES, CA--(Marketwired - Oct 11, 2013) - Source Financial, Inc. (OTCQB: SRCF) ("Source") is pleased to announce that its subsidiary Moneytech ("Moneytech"), a leading Australian financial solutions provider, has finalized a confirmed capital debtor finance facility for Progility Pty Ltd ("Progility").
"In exploring our financing options we were attracted to Moneytech for their responsiveness and terms, as well as their transparent due diligence and application process. We view Moneytech as a partner rather than just a financier," stated Craig Cameron, Progility's CEO.
Moneytech targets medium sized businesses in Australia for its Confirmed Capital product. These businesses are notoriously underserviced by Australian banks. In this case Progility represented a perfect fit.
"Progility has a solid business model and sound management that's executing their game plan, which firmly places them in our target market bull's-eye. We look forward to growing this relationship," said Hugh Evans, President and CEO of Source.
About Progility Pty Ltd:
Progility Pty Ltd, formerly known as Communications Australia, is an integrated communications systems integration company that designs, implements and maintains communications systems for Australian medium and large enterprises where communications is a key to their business operations, and for mining and oil & gas businesses globally. Progility reported revenue of AUD$41.2 million (approximately $39 million USD) in their most recent financial year.
Progility's website is located at: http://www.commsaust.com.au/.
About Source Financial:
Source Financial, Inc., through its two subsidiaries Moneytech Limited and WikiTechnologies, offers a complete suite of financial products for Consumers and Businesses.
Moneytech offers four main products to the Australian business community : 1) Credit Express - trade finance facilities for SMEs of $25,000 - $1 million, 2) Confirmed Capital - 100% Accounts Receivables funding for SMEs up to $5 million, 3) Card Solutions - Wholesale gift and prepaid debit card solutions, and 4) Foreign Exchange solutions - Spot Transactions, Forward Cover, Derivatives and Options. Moneytech's targeted financings are $3-$5 million dollars.
The Company's website is located at: www.moneytech.com.au
WikiPay, a Money Service Business, is a low-cost, mobile and online money transfer and payment solution operating through all 50 United States. For more information, please visit: www.wikipay.com.
WikiLoan is a low-cost peer-to-peer lending platform that works through the participation and collaboration of family and friends through social networks. The company's website www.wikiloan.com provides repayment schedules and documentation for loans, along with proprietary administrative tools, which enable users to securely pull credit reports and automate the loan repayment process.
FORWARD LOOKING STATEMENTS This news release may include "forward-looking statements" regarding Source Financial, and its subsidiaries, business and project plans. Such forward looking statements are within the meaning of Section 27A of the Securities Act of 1933, as amended, and section 21E of the United States Securities and Exchange Act of 1934, as amended, and are intended to be covered by the safe harbor created by such sections. Where Source Financial expresses or implies an expectation or belief as to future events or results, such expectation or belief is believed to have a reasonable basis. However, forward-looking statements are subject to risks, uncertainties and other factors, which could cause actual results to differ materially from future results expressed, projected or implied by such forward-looking statements. Source Financial does not undertake any obligation to update any forward-looking statement, except as required under applicable law.
Contact:
Investors may contact:
Market Street Investor Relations Inc.
(877) 218-9173
BEWARE - This is being HEAVILY SPAMMED.
Stock PROMOTERS are LITTERING E-mail boxes by PUMPING this SRCF.
You've been WARNED.
Top Stock Alert on the pump! Who is that?
If you don't know Ben Hansel's or Wikiloan's history you have some studying to do and shouldn't be putting your money in their hands.
Moneytech collaborates with VARCentral
http://www.arnnet.com.au/article/466417/moneytech_collaborates_varcentral/?utm_medium=newsletter&eid=-4152&utm_source=daily-pm-edition
Isn't that high road always ... eventful?
why do you say that and what's your involvement?
Source Financial, Inc. Closes Acquisition of Moneytech Limited.
LOS ANGELES, July 9, 2013 /PRNewswire/ -- Source Financial, Inc. (SRCF) ("Source") is pleased to announce the completion of the acquisition and share exchange with Moneytech Limited ("Moneytech"), a leading Australian financial solutions provider.
The acquisition was finalized on June 30, 2013 and creates a premier financial services company allowing Moneytech to expand its offering of unique financial products to American businesses.
Moneytech funded over AUD$ 200 million in loans in 2012 and is forecasting AUD$ 280 million and AUD$ 420 million in funding in 2013 and 2014 respectively. Moneytech currently services more than 5,000 business customers in Australia.
Hugh Evans, President and CEO of Source, states, "With the share exchange behind us, we now look forward to preparing for a New York Stock Exchange MKT application and listing."
Source plans on immediately engaging in the up listing process, however, its shares will continue to trade on the OTCQB market under the current SRCF ticker symbol until further notice.
ABOUT SOURCE FINANCIAL:
Source Financial, Inc., through its two subsidiaries Wiki Technologies and Moneytech Limited, offers a complete suite of financial products for Consumers and Businesses.
WikiPay, a Money Service Business, is a low-cost, mobile and online money transfer and payment solution operating through all 50 United States. For more information, please visit: www.wikipay.com.
WikiLoan is a low-cost peer-to-peer lending platform that works through the participation and collaboration of family and friends through social networks. The company's website www.wikiloan.com provides repayment schedules and documentation for loans, along with proprietary administrative tools, which enable users to securely pull credit reports and automate the loan repayment process.
Moneytech offers four main products to the business community : 1) Credit Express - trade finance facilities for SMEs of $25,000- $1 million, 2) Confirmed Capital - 100% Accounts Receivables funding for SMEs up to $5 million, 3) Card Solutions- Wholesale gift and prepaid debit card solutions, and 4) Foreign Exchange solutions - Spot Transactions, Forward Cover, Derivatives and Options.
The Company's website is located at: www.moneytech.com.au
FORWARD LOOKING STATEMENTS This news release may include "forward-looking statements" regarding Source Financial, and its subsidiaries, business and project plans. Such forward looking statements are within the meaning of Section 27A of the Securities Act of 1933, as amended, and section 21E of the United States Securities and Exchange Act of 1934, as amended, and are intended to be covered by the safe harbor created by such sections. Where Source Financial expresses or implies an expectation or belief as to future events or results, such expectation or belief is believed to have a reasonable basis. However, forward-looking statements are subject to risks, uncertainties and other factors, which could cause actual results to differ materially from future results expressed, projected or implied by such forward-looking statements. Source Financial does not undertake any obligation to update any forward-looking statement, except as required under applicable law.
Investors may contact: Market Street Investor Relations Inc. at (877) 218-9173
Third time lucky for Scottish Pacific
http://www.australianbankingfinance.com/banking/third-time-lucky-for-scottish-pacific/
All we need is some update news. It is starting to stabilize.
I've been out of this stock prior to its name change and the split. I don't like being in something that changes so much. Best of luck to everyone!
If you're investing in "Wikiloan" and Ben Hansel is involved, you're money is definitely locked up for months, in fact you may never get it back but that has nothing to do with a split.
Quick somebody name that company!
Is it:
Wikiloan
Wikipay
The Wiki Group
Source Financial or
All of the above!
Not sure how it works, just know it is not tradeable for two weeks.
So who gets to be trading it those couple of weeks?
After the split the stock will trade for a couple of weeks before you are allowed back in. You will be able to get back in just in time for the rinse cycle.
I would get a second opinion from them! Other than that...I am sorry I don't know. Best of luck!
I have a etrade account. I was wondering if anyone knows how long it takes to update the account with RS, since this is such a small company. I already emailed etrade and they told me it could take months! Is this true? My money is locked up for months?
Anyone want to be the first buyer with this? Not me! Can anyone tell me two good reasons this company is worth investing in? Thanks!
This thing is a total dog, IMO. I'm betting if it even gets to list on Nasdaq that it doesn't last long. IMO. Good luck!
Could get interesting on the way to the NASDAQ
The Wiki Group, Inc. changed to Source Financial, Inc., and a one for 100 reverse split:
http://www.otcbb.com/asp/dailylist_detail.asp?d=03/20/2013&mkt_ctg=NON-OTCBB
1-100 R/S
3/21/2013 TWGI The Wiki Group, Inc. Common Stock TWGID Source Financial , Inc. NEW Common Stock 1-100 R/S
http://www.otcbb.com/asp/dailylist_detail.asp?d=03/20/2013&mkt_ctg=ALL
ya . ima hold on and see what happens here... you?
TWGI
sticking around until the quarterlies are announced then ???
i dont know, its hard to tell if the merger is going to go through or if this is just more fluff.... im holding my position untill we get more news. hell, if it drops more i dont have that much into it, i just write it off as a loss. if it makes me some money then itl be great!! we shall see what happens. i dont have too much faith in this company but its worth a couple hundred invested just in case... who knows, maybe long term it may pull in a dollar or two in profit. im hangin on
It has been a real dog...do you think the merger will go through? I'm not sure that they have revenue coming in???
i guess nobody is interested in TWGI anymore???
I don't remember it.
Somebody needs to take over and shut the doors on this thing and then bring charges against Defeudis.
Remember this post?
TWGI Good morning Traders. Great buy-in level here.
I am sorry but good luck
from my histroy it has always ben negative. sorry Ihoop i am roneg but that is life,.....as it seem it wewe sold out to the wrongAussies to stay alive.
Duck, thanks for your info. If you want to tell...why did you sell your shares? Wouldn't there be no difference in the value of the shares before and after the split (the split to get a $3.00 share price for the Amex listing as you mentioned earlier)?
2 weeks for shareholder vote down under, one week to finish paper work-new directors, reverce the stock so it will be $3. I heard this from sources. I got rid of my shares. In a backwards way it looks to me like we are being taken over.
Duck...why do you think 3 more weeks? This stock is cheap right now. Sounds like you are thinking there is huge upside with this stock...am I right about that? Thanks!
they want to list on the AMEX. That requires a $3 share price. The merger will happen in about 3 weeks. Share holder vote in Australia, that takes about two weeks
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