SOOUM CORP/SWORDFISH FINANCIAL (SWRF) AWARDED U.S. FEDERAL CONTRACT; HIRES COMMODITY SPECIALIST
NY, NY—February 12, 2015- SoOum/Swordfish Financial, Inc. (OTC-PINK:SWRF) announced it was awarded a federal contract that paves way for new potential agreements with the US Government.
“We have completed the arduous multi-step application process for bidding government contracts to include the granting of a Commercial And Government Entity code (CAGE) and culminating with winning the first of what we hope to be additional contracts with major federal agencies. Currently, we are in the process of completing a shipment under the first contract”, stated Vice Chairman and Chief Operations Officer, Luis Vega.
According to a report in the NY Times, the US Government has massive global supply needs ($460 Billion for Fiscal 2013 in Federal Government contracts alone) and as a result the company sees this award as a significant development given the many suppliers with which it has cultivated relationships. These suppliers provide many of the commodities the USG seeks and SoOum believes it has the expertise in-house to make this a continuous part of its business model.
While SoOum’s systems and operating processes are designed to streamline the differing needs of suppliers and buyers that are prevalent in trade negotiations, most transactions are multi-month and require strict due diligence. The Company’s potential trade book continues to grow internationally with various commodity negotiations taking place in countries all over the world, including several in the LATAM, ASPAC, and EMEA regions.
SoOum is also pleased to announce the addition of another Trade Architect and one of the team that has spearheaded the US CAGE and Bidding Rights, Eric Malmstrom. Luis Vega, Vice Chairman and COO, states, ”Since joining the team, Eric has already proven himself as a Commodity Specialist with an eye at closing deals. He honed his deal analysis and completion skills amongst several other skills during his many years of managing trade at the Chicago Mercantile Exchange, and institutional development roles and these valuable traits are an asset to the SoOum team.”
SoOum’s CEO, Will Westbrook also announced the plans to open a Centralized Training and Trading Office for its deal architects. He stated, “We are rounding out our team and adding to our business model in significant ways that pave the way for the future of SoOum. Plans for a centralized training facility to establish uniform protocols on our systems and methods, is going well and is the future of our firm. The investment in people and training is one of our top priorities as our growth is closely tied to the deals our traders transact. We look forward to this significant step for our future.”
