Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Not sure if this is what you are looking for, just what I found.
https://www.bakerlaw.com/alerts/sec-adopts-amendments-to-rule-15c2-11#:~:text=The%20piggyback%20exception%20provides%20a,calendar%20days%20from%20a%20specified
The piggyback exception provides a limited, conditional grace period to permit broker-dealers to continue to rely on the piggyback exception to publish quotations for an issuer whose Rule 15c2-11(b) information is no longer current and publicly available, timely filed, or filed within 180 calendar days from a specified period. Subject to certain conditions, this limited grace period permits broker-dealers to continue quoting securities for a period of up to 15 calendar days once a qualified IDQS or registered national securities association makes a publicly available determination that issuer information is no longer current and publicly available.
The following table provides a summary of the time frames for which certain Rule 15c2-11(b) information must be current and publicly available, timely filed, or filed within 180 calendar days of a specified period.
Documents and Information
Time Frame
Annual and periodic reports filed pursuant to the Exchange Act:
Rule 15c2-11(b)(3)(i), (b)(3)(iv), and (b)(3)(v)
Within 180 calendar days following the end of the reporting period.
Annual and periodic reports filed pursuant to Regulation A:
Rule 15c2-11(b)(3)(ii)
Within 120 calendar days following the end of the issuer’s fiscal year and 90 calendar days after the end of a semiannual period.
Annual report filed pursuant to Regulation Crowdfunding:
Rule 15c2-11(b)(3)(iii)
Within 120 days of the end of the issuer’s fiscal year.
Certain foreign private issuers:
Rule 15c2-11(b)(4)
Since the first day of the issuer’s most recently completed fiscal year, information that has been made public as required by the laws of the country of the issuer’s incorporation, organization, or domicile or has filed with the principal stock exchange in its primary trading market on which its securities are traded.
Catch-all issuers:
Rule 15c2-11(b)(5)
Current and publicly available annually, except for certain financial information; the issuer’s most recent balance sheet must be as of a date less than 16 months before the publication or submission of a broker-dealer’s quotation, and the issuer’s profit- and-loss and retained earnings statements for the 12 months preceding the date of the most recent balance sheet.
The amended piggyback exception is not available for quotations in a qualified IDQS unless the qualified IDQS specifically identifies the quotation as an unsolicited customer indication.
IMHO as long as we stay in the Expert Market we have a chance this will someday move to Pink Current. It will be dead and defunct if the listing goes to CE.
https://blog.otcmarkets.com/2021/03/25/understanding-the-expert-market/
The SEC’s amendments to Rule 15c2-11 go into effect on September 28, 2021 and will effectively eliminate public broker-dealer quoting in securities of issuers that do not make current information publicly available. Giving effect to the SEC’s stated goals of encouraging public company disclosure, OTC Markets Group will use its Expert MarketSM as a venue for broker-dealers to publish unsolicited quotes representing customer limit orders in “No Information” securities.
What is the Expert Market?
OTC Markets Group currently operates the Expert Market as a distinct market tier for a small number of companies. However, on September 28th this market tier will expand to include a broader range of securities. Following the upcoming changes to Rule 15c2-11, companies that do not make current information publicly available under the rule will shift to the Expert Market.
Quotes in the Expert Market will be “Unsolicited Only.” This means broker-dealers may use the Expert Market to meet their Best Execution responsibilities under FINRA Rules and publish unsolicited quotes representing Limit Orders from retail and institutional investors who are not affiliates or insiders of the company.
Who can access the Expert Market?
Quotations in Expert Market securities are restricted from public viewing. Only broker-dealers and professional or sophisticated investors are permitted to view quotations in Expert Market securities.
Despite the restrictions on who can view quotations, the Expert Market does not impose restrictions on who can trade securities. Rule 15c2-11 governs a broker’s ability to submit, publish or distribute quotations (i.e. bids and offers) in OTC securities. The Rule does not apply to the underlying transactions or the ability of an investor to buy or sell a security.
Contact your broker for information concerning restrictions or qualifications for accessing Expert Market securities.
Why is the Expert Market Important?
The Expert Market offers a regulated trading venue where broker-dealers can satisfy their best-execution obligations. It offers insight into activity that would otherwise be hidden in the opaque Grey Market.
How is Expert Market different from the Grey Market?
The Grey Market is an opaque market where broker-dealers are not willing or able to publicly quote OTC securities given the lack of investor interest, company information or regulatory compliance.
Unlike the Grey Market – where this is no public quote at all – the Expert Market provides additional price transparency, as it allows for unsolicited quoting.
How are Companies affected by these Changes?
The answer to this depends on the market on which your securities trade. In order to be quoted by broker-dealers on the Pink Market, a company must provide current public disclosure on an ongoing basis. This may include disclosure provided via the SEC’s EDGAR filing system, through a non-U.S. stock exchange or regulator, or to OTC Markets Group directly via our OTCIQ platform. Companies that do not take the necessary steps to make current disclosure available pursuant to the Pink Current or Pink Limited Guidelines may migrate to the Expert Market. Visit the Information for Pink Companies section of our website for further details.
What are the Key Dates for the Implementation of Rule 15c2-11?
We have asked companies to provide the required disclosure to OTC Markets by June 30th. This request was to ensure that our Issuer Compliance Team had sufficient time to confirm the availability of current information and update market status for a company’s securities prior to the rule’s compliance date on September 28th. We continue to process disclosure requests received after June 30th, however we may not be able to process all such applications prior to September 28th.
Under new Rule 15c2-11, Securities that do not meet the Rule’s current public disclosure requirements will be removed from Pink as of the September deadline.
For more information on this rule and the steps your company need to take to comply, please
Y'all still digesting the quarterly report?
https://www.otcmarkets.com/stock/MSMY/disclosure
I would think sometime in November. I believe they come out 4 to 6 weeks after the close of the quarter.
Coinbase, I thought my purchase failed. It said there was a problem and my funds were safe. I tried again and got the same message. Turns out that I purchased twice the amount that I had planed on buying.
My coinbase account says I can transfer $35,000 max. Wish I had a $1,000 to transfer.
Hopefully this gets us some traction upwards. Been holding this for quite some time. Bought this on a recommendation. They said we could see some crazy spikes and to take advantage of the spikes, but it was still a long hold. Haven't seen any spikes. Still holding.
I can't keep up with the posting on Stocktwits. They are going crazy over there.
It's about time this has started to move. I am still behind. Hoping for a good run in the near future.
I saw they want to get the deal done by 10/31. Hope it keeps going. I am still behind. Looking for somewhere between $1.50 and $2+.
You are asking all the same questions I have asked myself. As I have stated before this is a future write off for me.
I am still hoping that this will get current and that we will all be rewarded.
I have been wondering if the 31 agreements are actually business licenses for each state. Just a guess. Then in 6 months they start looking for franchisees in those states. Then they will apply for licenses in the remaining states.
All is speculative without any information from the company.
GLTA
$WCVC
Your Welcome! I just try to keep it factual with links when possible. Glad to see you hear. Hope we are rewarded for our long wait.
No. We won't know until they are posted by Edgar SEC. They may have been posted and in review. Plus T53 may have been told what the company's intentions where, but he can't control what they do and when they actually file. Anyway I am here till the end.
GLTA
$WCVC
Ah, Thanks. That clears up the filling. So the question remains. How long does it take from date of filling to posting and moving out of the expert market?
Not any area I have any knowledge in at all.
I think that OTC Markets is swamped with all of the late filers. Not sure anyone can truthfully answer that question.
GLTA
$WCVC
I take it that they have deals with people/entities in 31 states and they will be moving forward within the next 6 months. They are looking to move forward in the remaining 19 states (no timeline for that). I agree we have no proof. The company is keeping us in the dark. Like I posted before it can't get much lower. At this point I consider it a total loss. My optimistic side is hoping that T53 has more knowledge of what is going on with the company.
I am in it with the rest of everyone else who is holding shares.
GLTA
$WCVC
That may be true that he put the message together, but I am with Jiddy905. T53 may be in contact with the company. They may not want to be bothered with tweeting out all of the details or may not legally be allowed to make statements. We can debate this all day long. Until the company releases the info to the SEC we are all being kept in the dark. Anyway only time will tell.
GLTA
$WCVC to the mood or bottom of the ocean NOT, lol.
I have to agree with you on that. I am hold can't really loose any more at this point.
I would like to know where this info came from.
@Illegal_Burger - $WCVC - Selling Franchises within 6-months -
— Trader53 (@edwarddurkee3) October 12, 2021
has established franchise sales in 31 states
and work underway to launch
in the remaining 19 states soon.https://t.co/XNVrqnqvhM pic.twitter.com/OCui4ytQKh
Sphere 3D and Gryphon Secure Largest Single Hosting Services Deal in Core Scientific's History
ANY
-15.10%
Newsfile Corp.
Wed, October 13, 2021, 7:00 AM
In this article:
ANY
-15.10%
228 MW hosting agreement is largest in Core Scientific's history, with an estimated capacity of 71,000 miners
Toronto, Ontario--(Newsfile Corp. - October 13, 2021) - Sphere 3D Corp. (NASDAQ: ANY) ("Sphere 3D" or the "Company"), a company delivering containerization, virtualization, and data management solutions, is pleased to announce that it has entered into an agreement with Gryphon Digital Mining1 ("Gryphon") for approximately 230 MW of carbon neutral bitcoin mining hosting capacity to be managed by Core Scientific ("Core") as hosting partner. This hosting agreement is the single largest order in Core's history and represents yet another step forward for Sphere 3D and Gryphon in becoming the world's largest carbon neutral bitcoin miner.
This landmark hosting agreement will provide hosting capacity for up to 71,0002 state-of-the-art bitcoin mining machines, and furnishes the Company with a world-class partner to host the 60,000 Bitmain S19j Pro miners whose purchase was previously announced by the Company.
The agreement features the installation of digital asset miners at Core Scientific's state-of-the-art, 100% net carbon neutral blockchain data centers over the course of 14 months. As part of the partnership, Core Scientific will provide its industry leading digital mining fleet management and monitoring solution, Minder™, data analytics, alerting, monitoring, and miner management services. Core Scientific's facilities offer 24/7 physical security and technical support operations, with teams available and able to attend to down units and perform repairs around the clock to deliver maximum uptime.
"We recently announced the single largest order in digital mining history through our purchase of 60,000 miners. It only makes sense that we would, through the great work and help of the team at Gryphon, choose the industry leading hosting partner in Core Scientific. Both Sphere 3D and Gryphon are committed to the professionalization of the crypto industry and are excited to work with a blue chip partner like Core Scientific. The commitment to carbon neutrality, industry leading infrastructure, and experience of the Core team were the deciding factors for us as we continue our journey to take the leadership position in crypto mining," said Peter Tassiopoulos, CEO of Sphere 3D.
"Working with and hiring the best is a fundamental philosophy at Gryphon Digital Mining and we could not have found a better hosting partner than Core Scientific. Core has a stellar reputation for being an enterprise-grade hosting services provider and we are excited to work with a similar minded, blue-chip partner. This agreement unlocks the operational capacity for our post-merger company to operate approximately 6.7 exahash of hashing power, which would place us among the top publicly traded bitcoin miners in the world," said Rob Chang, CEO of Gryphon Digital Mining.
1As previously announced, the company has entered into an Agreement and Plan of Merger with Gryphon Digital Mining which is anticipated to close in the 4th Quarter of 2021.
2 Based on the potential deployment of 71,000 S19j Pro Antminers
About Sphere 3D
Sphere 3D Corp. (NASDAQ: ANY) has a portfolio of brands, including HVE ConneXions, Unified ConneXions and SnapServer®, dedicated to helping customers achieve their IT goals. For more information on Sphere 3D, please visit www.sphere3d.com.
Investor Contact:
Kurt Kalbfleisch
+1-858-495-4211
investor.relations@sphere3d.com
About Gryphon Digital Mining
Gryphon Digital Mining is a Bitcoin mining operation with zero carbon footprint. Gryphon's long-term strategy is to be the leading crypto miner with a 100 percent net carbon-free energy supply. Gryphon provides reliable, low-cost hydro-electric powered mining with plans to expand to other renewables such as nuclear, wind, and solar power to lower mining's impact on the environment. Gryphon Digital Mining has entered into an Agreement and Plan of Merger with Sphere 3D (Nasdaq: ANY) through which Gryphon shareholders are expected to become shareholders of Sphere 3D, and the merged company would continue to trade on Nasdaq, subject to shareholder and regulatory approvals. The merger is expected to be complete in Q4/21.
Media Contact:
Elyse Bender-Segall
PR Revolution
(516)901-9095
elyse@prrevolution.com
Investor Contact:
Rob Chang
Gryphon Digital Mining
(877) MINE-ESG (877) 646-3374
invest@gryphonmining.com
Important Additional Information Will be filed with the SEC
In connection with the proposed transaction between Sphere 3D and Gryphon, the parties intend to file a registration statement on Form F-4 (the "Registration Statement"), which will include a preliminary proxy statement of Sphere 3D and a prospectus in connection with the merger. The definitive proxy statement/prospectus and other relevant documents will be mailed to shareholders of Sphere 3D as of a record date to be established for voting on the merger. Stockholders of Sphere 3D and other interested persons are advised to read, when available, the preliminary proxy statement/prospectus, and amendments thereto, the definitive proxy statement/prospectus in connection with Sphere 3D's solicitation of proxies for the special meeting to be held to approve the merger, and other documents filed with the SEC by Sphere 3D and Gryphon, because these documents will contain important information about Sphere 3D, Gryphon, and the merger. Stockholders will also be able to obtain copies of the Registration Statement and the proxy statement/prospectus, without charge, by directing a request to: 895 Don Mills Road, Bldg. 2, Suite 900, Toronto, Ontario, M3C1W3, Canada. These documents, once available, and Sphere 3D's annual and other reports and proxy statements filed with the SEC can also be obtained, without charge, at the SEC's internet site (http://www.sec.gov).
No Offer or Solicitation
This press release shall not constitute a solicitation of a proxy, consent or authorization with respect to any securities or in respect of the proposed merger or an offer to sell, the solicitation of an offer to sell or an offer to buy or the solicitation of an offer to buy any securities, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. No offer of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act of 1933, as amended. This press release is not for release, publication or distribution, in whole or in part, in or into, directly or indirectly, any jurisdiction in which such release, publication or distribution would be unlawful.
Participants in the Solicitation
Sphere 3D, and its directors, executive officers, other members of management and employees and Gryphon, and its directors, executive officers, other members of management and employees may be deemed to be participants in the solicitation of proxies from the stockholders of Sphere 3D in connection with the proposed merger. A list of the names of those directors and executive officers and a description of their interests in Sphere 3D will be included in the proxy statement/prospectus for the proposed merger and will be available at www.sec.gov free of charge. Additional information regarding the interests of such participants will be contained in the proxy statement/prospectus for the proposed merger when available.
Forward-Looking Statements
Any statements in this press release that are not statements of historical fact constitute forward- looking statements within the meaning of The Private Securities Litigation Reform Act of 1995, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements include, but are not limited to, statements regarding the proposed merger and other contemplated transactions (including statements relating to satisfaction of the conditions to and consummation of the proposed merger, the expected ownership of the combined company and the ability of the combined company to raise additional capital to complete its purchase of the Hertford assigned equipment contracts and the Gryphon business and opportunities relating to or resulting from the merger), and statements regarding the nature, potential approval and commercial success of Gryphon and its product line and the miners provided by Hertford, risks related to Gryphon's ability to correctly estimate and manage its operating expenses and its expenses associated with the proposed merger pending closing; the ability of Gryphon to report accurate audited financials, the ability to install and intregrate the miners provided by Hertford, the effects of having shares of capital stock traded on the Nasdaq Capital Market, Gryphon's management team's ability to execute the post- merger operations, Gryphon's and the post-merger combined company's financial resources and cash expenditures. Forward-looking statements are usually identified by the use of words such as "believes," "anticipates," "expects," "intends," "plans," "ideal," "may," "potential," "will," "could" and similar expressions. Actual results may differ materially from those indicated by forward-looking statements as a result of various important factors and risks. These factors, risks and uncertainties include, but are not limited to: risks relating to the completion of the purchase of the miners from Hertford, including to raise additional capital to finance the ongoing operations of the business and the need for stockholder approval in connection with the issuance of Common Shares; risks relating to the completion of the Gryphon merger and consummation of the Hertford equipment purchased and entering into the carbon neutral hosting facility, including the need for stockholder approval and the satisfaction of closing conditions; risks related to Sphere 3D' ability to correctly estimate and manage its operating expenses and its expenses associated with the proposed merger pending closing; the cash balances of the combined company following the closing of the merger; the ability of Sphere 3D to remain listed on the Nasdaq Capital Market; the risk that as a result of adjustments to the exchange ratio, Sphere 3D shareholders, Gryphon stockholders or Hertford stockholder could own more or less of the combined company than is currently anticipated. In addition, the forward-looking statements included in this press release represent Sphere 3D, Gryphon's and Hertford's views as of the date hereof. Sphere 3D, Gryphon and Hertford anticipate that subsequent events and developments will cause their respective views to change. However, while Sphere 3D, Gryphon and Hertford may elect to update these forward-looking statements at some point in the future, Sphere 3D, Gryphon and Hertford specifically disclaim any obligation to do so. These forward-looking statements should not be relied upon as representing Sphere 3D's, Gryphon's or Hertford's views as of any date subsequent to the date hereof.
News is expected this week. Puget Technologies
I do like green!! A reset in RSI would be good, not that we can't climb higher with the RSI as it is. JMHO
Looks like we are starting to climb back up. Hope it keeps going.
I can't agree with you more. RSI has been over bought for quite some time and needs a reset. Reset doesn't mean this goes back to ground zero. People seem to panic if we get one or two red days.
Seems like we may finally have some movement. Now if it can just keep going.
Hoping to see something good come out of last weeks crap. IMO we will stabilize and start to move ahead this week or early next. GLTA
https://finance.yahoo.com/news/china-banning-crypto-transactions-great-news-for-bitcoin-investment-firm-ceo-210725512.html
AECOM is a low risk company. They focus on program management. Compared to the work my division preformed in AECOM, we were high risk. We were sold and are now a growing private company. AECOM, was controlled by hedgefunds for a period of time. As with all hedgefunds and investors they only wanted to cut risk and get the share price to $60 and higher. Their stock isn't moving as much these days. So I think they have sold off all of the high risk divisions. I don't know if there is much left to drive this up or down. If you buy good luck hope they do something to get this moving again. You can find all of the above in PRs and fillings. Good luck.
TD Ameritrade is still taking BUY orders. Gone a get me some really cheap shares. NOT
Hoping it will get current soon!
Old news from 8/19/2021...This board is to quiet.
https://www.svgeurope.org/blog/headlines/big-deal-vislink-and-mobile-viewpoint-bosses-discuss-the-acquisition-and-benefits-for-both-businesses-and-their-customers/
I will take up, $any way we can get it. I agree caution is advised. This is a lottery pick for me. I believe in the company, but we have had no communication from management.
GLTA $WCVC
Is the twitter account really Trader53? It could be a fake account. Why was it only posted on twitter and not here as well? Could be a group trying to take down the stock. IMO
Twitter posts for Trader53, If you believe that this is Trader53
$DPLS - Topped Out pic.twitter.com/lCXAxHpNBN
— Trader53 (@edwarddurkee3) August 16, 2021
$DPLS - Prediction pic.twitter.com/9oRCquAkev
— Trader53 (@edwarddurkee3) August 16, 2021
$DPLS - Topped Out pic.twitter.com/ITjf6JCrfH
— Trader53 (@edwarddurkee3) August 16, 2021
$DPLS - Prediction pic.twitter.com/9oRCquAkev
— Trader53 (@edwarddurkee3) August 16, 2021
Looks like new article with old news....
I figure TDA and other brokerages got slapped by either the MM's or SEC. MM's want to steal as much cash as they can before some of these stop sign tickers go away. If it was the SEC they were possibly looking out for the investors and companies like $WCVC who will most likely be getting current soon. IMHO
GLTA Keep the Faith $WCVC
I think we will go a lot higher before the next dip. Hoping for .25 to .30. I don't know anything, so we shall see. I should have sold on the last run. I did sell eventually and was able to buy back in and increase my position. I have a very very small position compared to others.
Scam or not, whatever you believe I am here to make money and will sell as needed to save my investment.
GLTA $DPLS
I sure hope not. I am still GREEN in my position, BUT ALL my tickers were RED today except one. Holding long and hoping to add along the way.
GLTA
$MSMY
This looks like an over post board
I jumped in today. I needed another RED ticker.
Below is yesterday's news
Didn't seem to generate a lot of excitement here or anywhere for that matter.
GLTA $BRQS
https://www.marketwatch.com/press-release/borqs-technologies-announces-strategic-investment-and-collaboration-with-zippie-in-blockchain-iot-autonomous-payments-2021-08-11-8184049?mod=mw_quote_news_seemore
Press Release
Borqs Technologies Announces Strategic Investment and Collaboration with Zippie in Blockchain IoT Autonomous Payments
Published: Aug. 11, 2021 at 8:00 a.m. ET
The MarketWatch News Department was not involved in the creation of this content.
SANTA CLARA, Calif., Aug 11, 2021 (GLOBE NEWSWIRE via COMTEX) -- SANTA CLARA, Calif., Aug. 11, 2021 (GLOBE NEWSWIRE) -- Borqs Technologies, Inc. (Nasdaq: BRQS, "Borqs", or the "Company"), a global provider of embedded software and products for the Internet of Things (IoT), has signed an agreement with Zippie, a blockchain application and payment platform company headquartered in Singapore, to jointly develop solutions for IoT autonomous payments to service the rising demand for digital currency transactions.
Zippie is a pioneer in the Web3.0 payment platform using blockchain technology. Zippie enables businesses to send and receive programmable payments with money and other digital assets, such as airtime, loyalty points, tokens, and gift cards. Since 2017 Zippie has been developing an easy-to-use, legacy, money-system-connected blockchain platform for the real world. Zippie is obtaining e-money license in Europe and other selected strategic regions. By the end of 2021, the Zippie payment system is expected to be connected to 1.3 billion mobile wallets and 3 billion bank accounts globally. So far Zippie has accelerated three applications on its platform:
(1) MyPlanet - a donation application for full end-end transparency donation platform for conservation projects. MyPlanet is a transparent way to directly support communities that are releasing funds against clear milestones. MyPlanet is currently in Tanzania for supporting animal conservation and re-forestation projects. (www.myplanet.green)
(2) Lohko wallet - a platform for investors to manage their digital assets. Lohko's first available products are physical gold and silver bars. Lohko tokenises physical gold and silver bars making ownership easily and securely digitally transferrable. The gold and silver are securely stored in a custodial vault in Singapore. Investors also have the option to get the gold bars issued as an NFT on the Ethereum main chain. (www.lohkowallet.com).
(3) AirImpact - a dashboard for corporates to manage their value transfer. AirImpact develops solutions to enable transparent value transfer in donations, mobile airtime, and digital coupons. AirImpact connect people with financial means to those who can create an impact within their local communities. (www.airimpact.co).
PAMS Foundation is a conservation non-profit with a mission to empower the people who protect wildlife and wild places and has used Zippie's MyPlanet platform. Michele Mengegon, Director at PAMS Foundation, said, "Zippie has provided us with a ground-breaking technology solution that enables PAMS to support local conservation communities in Tanzania and gives donors visibility on how their funds are being used. It's a win-win!"
About Autonomous Payment
According to the Worldline report, there has been huge growth in the number of connected devices, from an estimated 200 million globally in 2000 to around 38.5 billion in 2020. In 2020, 779 billion digital transactions were completed worldwide. Today most of the payments are triggered by humans. Tomorrow, with the advent of IoT rollout, these payments will be triggered "autonomously" by machines, a key characteristic of IoT payments. For example, a camera detects who is boarding and disembarking from a train, and the correct fares are then automatically charged to the individuals. Members of Gen Z are extremely concerned about climate change and want to prioritize sustainable ways of living. This will propel forward the sharing economy: individuals who are less concerned with ownership will be able to share access to material products with others, leading to lower costs for everyone (paying only for what they need). IoT payments will help accelerate the development of sharing economy platforms, because they help to enable pay-per-use business models for physical products.
The key aspect of IoT payments is security - how payment credentials are stored securely on a device, how access to the device is controlled (to prevent hacking), and how users on the device will authenticate themselves. Blockchain provides the needed technology to manage and execute IoT autonomous payment transactions. The essentials of using blockchain technology are the inalterability of data (integrity), no single point of failure (availability), identity managed by public/private key pair (authentication), cryptographic primitives that deny data access to unauthorized users (confidentiality), and the requirement that all transactions be signed and auditable (non-repudiation).
With this strategic investment and collaboration, Borqs and Zippie will jointly develop and promote blockchain IoT autonomous payment solutions, where Borqs will focus on the IoT device and Zippie will be responsible for the backend payment gateway. The companies plan to launch the first reference platform solution based on Android digital watch and with mobile wearable payment connecting to various banks in the U.S., Europe and Africa. Pat Chan, CEO of Borqs, said, "We're very delighted to invest and collaborate with Zippie. Zippie's advanced payment system using blockchain technology and Borqs's leadership in IoT technology will provide state-of-the-art solutions in IoT autonomous payment." Antti Saarnio, CEO of Zippie, said, "We have partnered with Borqs in various projects before. We're also very excited in this strategic collaboration as Borqs is perfectly positioned to serve the IOT industry and Zippie is able to provide global programmable payment infrastructure to their client base. Blockchain and IOT are the perfect match, as tokenization makes money transfers programmable, which is needed for machine-to-machine autonomous payments. We see huge business opportunities in IoT autonomous payment solutions, especially with the rise of digital currency electronic payment (DCEP). Many countries have planned to launch their own DCEP in the near future."
About Borqs Technologies, Inc.
Borqs Technologies is a global leader in software and products for the IoT, providing customizable, differentiated and scalable Android-based smart connected devices and cloud service solutions. Borqs has achieved leadership and customer recognition as an innovative end-to-end IoT solutions provider leveraging its strategic chipset partner relationships as well as its broad software and IP portfolio.
Borqs' unique strengths include its Android and Android Wear Licenses which enabled the Company to develop a software IP library covering chipset software, Android enhancements, domain specific usage and system performance optimization, suitable for large and low volume customized products. The Company is also currently in development of 5G products for phones and hotspots.
About Zippie
Zippie was founded by Dr. Tech. Antti Saarnio and his co-founding team in 2016 with the current headquarters in Singapore. Previously Antti was the Executive Chairman of Jolla. He and his team co-founded Jolla in 2012 - a Finnish mobile operating system company developing Sailfish OS. In 2019, Zippie launched the Airtime Network and E-money wallet in Kenya. In 2020, Zippie launched its first third-party applications Lohko Wallet (lohkowallet.com) and MyPlanet (myplanet.green) on the Zippie platform and launched Airtime Dashboard for businesses to transfer value to emerging markets around the world.
www.zippie.com
Forward-Looking Statements and Additional Information
This press release includes "forward-looking statements" that involve risks and uncertainties that could cause actual results to differ materially from what is expected. Words such as "expects", "believes", "anticipates", "intends", "estimates", "predicts", "seeks", "may", "might", "plan", "possible", "should" and variations and similar words and expressions are intended to identify such forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking. Such forward-looking statements relate to future events or future results, based on currently available information and reflect our management's current beliefs. Many factors could cause actual events or results to differ materially from the events and results discussed in the forward-looking statements, including the possibility that the development of solutions for IoT autonomous payment as mentioned may not be successful or completed to the extent intended or at all, and the negative impact of the COVID-19 pandemic on the Company's supply chain, revenues and overall results of operations, so the reader is advised to refer to the Risk Factors sections of the Company's filings with the Securities and Exchange Commission for additional information identifying important factors that could cause actual results to differ materially from those anticipated in the forward-looking statements. Except as expressly required by applicable securities law, the Company disclaims any obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise.
Investor Contact:
Sandra Dou
Vice President of Corporate Finance
Borqs Technologies, Inc.
sandra.dou@borqs.net
www.borqs.com