Today the company has put out an announcement which highlights our pending sale of MyMobiPoints.com We feel that divesting this asset is the best course of action at this time as we will reduce our ongoing expenditures while at the same time almost doubling the value of our assets on the balance sheet. Currently, MyMobiPoints.com sits as an intangible asset which depreciates in value each quarter as it is a tech asset with a certain shelf life which is determined by our auditors based on certain industry metrics they use to make these calculations. Our sale will turn this intangible asset into both cash and stock which will represent stronger financial assets for the company.
We are moving forward towards eliminating debt, and strengthening our balance sheet like we have mentioned before on several occasions. Our short term goal is to have a clean company with zero debt and over $600,000 in solid assets, not to mention the future innovations we plan to bring forward.
We will be making further announcements as investors and traders begin to return to the workstations over the next several weeks, and heading into September.
We would like to thank our supporters for their continued patience as the company continues to move forward through each of these challenges. Currently we are working on our 10K filing, and several other transactions. As previously stated we are working on several key developments that will shape the face of the company down the road.
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