BETS news: SeanieMac UK Responds to Shareholder Questions
Apr 27, 2016 09:52:00 (ET)
SeanieMac UK Responds to Shareholder Questions
HUNTINGTON, NY--(Marketwired - Apr 27, 2016) - SeanieMac International Ltd (OTC PINK: BETS) --
Dear Shareholders,
I'd like to thank all of our loyal shareholders for your steadfast support and incredibly adroit ability in keeping abreast of company activities, our competitors, as well as the greater industry in general. Not surprisingly I was incredibly impressed by the astute questions received and have attempted to respond to as many as possible in a consolidated manner. We understand fully our responsibility to try to maximize shareholder value and make all of our decisions based on that first and foremost. We believe the days, weeks and months ahead will prove to be exciting for everyone, as we continue to make 2016 a truly exceptional year.
Shane O'Driscoll.
Can you elaborate on what's been happening in the past year?
Over the past year we scaled back on marketing dollars and focused on securing the best platform for the next phase of our growth. Our acquisition took several months from start to closing and we also focused our energies on bringing all of the US Financial filings up to date.
Other than Apollo, are there any more convertible notes left?
Technically our initial funders and long-term investors can convert a portion of their debts into equity but have chosen not to in the past two years. RDRD's debt, for example, has been on the company's books since then. Apollo acquired ALL of the other convertible notes since then with the exception of one 40k note. All of our outstanding notes are fully disclosed in our 10-K and will be updated with each quarterly filing.
What's with the 6 million dollars of debt in the filings?
A substantially large portion of our debt and all of our residual preferred stock obligations predate the merger with SeanieMac International to the days when the public company was Compliance Systems. We believe many of these obligations can and will be settled or removed from the balance sheet in 2016.
Are there any other acquisitions in mind or on the horizon?
We are very actively seeking potential opportunities and partners, as well as financial support to pursue other acquisitions. We have reached out to various candidates and cannot divulge at the present time if any of these discussions will result in an actual transaction, but we think we offer a compelling value proposition to prospective candidates. With the right deals our goal of reaching 100 Million in revenue is attainable given the exponential growth the industry is seeing every year. We of course will keep you up to date as things progress.
Do you have any plans on a reverse merger?
No.
In a recent 13-g filing (April 13, 2016) Iliad filed for 67,316,888 shares and in your latest 10-K (April 14, 2016) the company stated 64,660,484 shares are in dispute. Are the 67,316,888 in the 13-g filing different shares from the 64,660,484 in the Apollo dispute? Has the dispute been resolved?
The difference is the amount requested to be issues and 9.9% of the total float. The 13-g filed the maximum shares that could be issues and the conversion request the actual amount. The dispute has not been resolved and no shares have been issued.
I was under the impression that there was a note left over belonging to Iliad in the filings due in August is that still coming?
Iliad does not have any more notes to convert. As of December 31, 2015, the outstanding loan balance on this including forbearance liability was $320,057 and assigned to Apollo Management Group, LLC.
Do you have any plans to do a reverse split of your stock?
We have no plans to reverse split our stock. Our goal is to achieve QB status through price appreciation.
Having acquired the assets of Apollobet I would imagine makes the company more productive and profitable. Do you see a point were we are completely self-funded?
We are projecting getting to that position in 2016 after the launch on the new platform in late August/ September. Our primary goal has always been to become self-reliant and not require third party funding. It has been a shared vision by the company and primary investors who have invested over $2 Million to achieve this goal.
Having QB Status and being fully reporting must be important to you. Do you see that coming anytime soon?
In order to return to QB status our share price needs to be over .01. This would require a market cap of $10+ million at current dilution numbers. We strive to make that priority number one for shareholders and because we believe that's where we belong. If we hit our goals in 2016, we should warrant a market cap well in excess of those levels.
Is Apollo a true partner? Their dilution is killing the pps. Are they really interested in seeing us prosper?
It is correct that in addition to being a convertible lender Apollo is also actively engaged in assisting the company in pursuing the bitcoin opportunity and has a long-term interest in the success of the company. It is in Apollo's interest to see the company succeed and we have, in fact, accomplished many of our goals with their funding help. We believe the performance we will deliver in 2016 will more then offset the additional shares issued.
Can you be more specific about why Bit Coins will benefit your company?
Our bit coin marketing partnership will allow us to promote our platform to 3 million customers of our marketing partner. The details of our marketing partnership will be the subject of future releases.
How is the new operating platform going?
Excellent. We feel it will be on the cutting edge and sets the standard for the entire industry. We are on schedule at this time for an August/September launch of the new platform. We expect to announce the details of that partnership in May.
SeanieMac International Ltd
Shane O'Driscoll
investorrealtions@seaniemacinternational.com
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April 27, 2016 09:52 ET (13:52 GMT)
