Folks don't understand what the 8K represented yesterday.
-QPAG sold their Mexican operations to ViVi Holdings and with it went all the debt:
On August 5, 2019, Qpagos (the “Company”) entered into a Stock Purchase Agreement (the “SPA”) with Vivi Holdings, Inc., a Delaware corporation (“Vivi Holdings”) to sell to Vivi Holdings its subsidiary, Qpagos Corporation, a Delaware corporation. Qpagos Corporation operates the Company’s business activities in Mexico and is the 99.9% owner of two corporations incorporated in Mexico, Q Pagos, SAPI de CV and Redpag Electrónicos, SAPI de CV.
-They kept the US operation (Shell):
The Company will retain its U.S. operations based in Calabasas, California.
-They hire a new CEO with ties to DPW:
On August 6, 2019, William Corbett was appointed as the Chief Executive Officer and a director of the Company.
William Corbett, age 59, has over thirty years of Wall Street experience. Starting with Bear Stearns in the mid-eighties he became a managing director responsible for managing over 50 brokers and subsequently he was hired by Lehman Brothers where he was one of the top producers in the 1990’s. In 1995, he co-founded and became CEO of The Shemano Group, a San Francisco investment banking boutique, which developed into one of the leading banks for funding small cap companies. He pioneered the PIPE industry (Private Investment in Public Equities) perennially leading the country in monies raised by investment banking firms in micro-cap companies. The firm was also responsible for bringing companies public through IPO’s reverse mergers, and a leading underwriter for secondaries, raising billions for companies over 20 years. Over the last five years, Mr. Corbett was a managing director at Paulson Investment Co. from October 2013 until October 2016, responsible for West Coast investment banking activities. He also has served as CEO of DPL a lending company, and a wholly owned subsidiary of DPW Holdings, Inc., from October of 2016 until present.
And QPAG and DPW had a prior JV going which was terminated, as stated here there was no plans to create a new publicly traded entity BUT it looks like they just set up QPAG to be just that:
Clean shell, new entity, new management, all based in California. Add in this is a OTCQB ticker this could be really big. These prices are a steal imo.
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