Saturday, March 28, 2020 10:21:39 AM
$ARGQ DD Packet
CEO Statement
“Argentum 47, Inc. are a dynamic and forward thinking Company who see the importance of sound independent financial planning in the United Kingdom and ensuring that our clients are confident in the advice that we provide them with. In order to provide this service we are developing a national network of advisers who act with honesty and integrity with our clients best interests at the forefront of any solutions provided to them. We are striving towards an excellency as yet unseen in the Financial Services Sector and will continue to build both organically and by way of acquisition allowing us access to talent, economies of scale and market penetration”
The share structure will not change until December 14, 2021.
$ARGQ On December 18, 2019… The Company diligently deferred dilution until on earlier than December 14, 2021. The Company also executed a new two-year loan for up to 500,000 GBP or U.S.$658,000 as a condition of such conversion deferral.
https://twitter.com/Argentum47inc/status/1209042570720038912
Where you see Creditum Limited on the official list below it means the Creditum IPO on the London Exchange is close.
https://marketsecurities.fca.org.uk/officiallist
Argentum 47, Inc. Appoints a New Chief Executive Officer (CEO)
London, UK, Feb. 03, 2020 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE --Argentum 47, Inc. (www.arg47.com) (ARGQ) and its fully-owned foreign subsidiaries, a specialist in both Retail and Corporate Financial Services and Corporate Consultancy, with offices located the United Kingdom, today would like to announce that the Board of Directors has appointed a new Chief Executive Officer.
On February 1, 2020, Mr. Peter J. Smith stepped down as the Company’s Chief Executive Officer. The Board of Directors voted favourably to employ Mr. Nicholas P. Tuke as the Company’s new Chief Executive Officer. The Board of Directors also agreed that Mr. Peter J. Smith will continue in his role as a member of the Board of Directors along with Mr. Enzo Taddei, who will also continue as the Company’s Chief Financial Officer.
Mr. Smith’s decision to step down as CEO was purely motivated in order to allow him to concentrate 100% of his time on the growth by acquisition strategy that the Company implemented in 2018 and to hand over the financial services business to Mr. Tuke, who has extensive and proven experience in that field.
Alongside his new role as CEO of Argentum 47, Inc., Mr. Tuke will continue in his role as Managing Director of the Company’s wholly owned United Kingdom subsidiary, Cheshire Trafford (UK) Limited, a Independent Financial Advisory Firm that currently has circa of U.S.$51 million Dollars of Funds Under Management / Administration.
The first executive decision that Mr. Tuke made as the Company’s new CEO was to employ Mr. Kenneth Kennison under the Cheshire Trafford (UK) Limited banner. Mr. Kennison, the Company’s new lead Independent Financial Adviser, has been tasked to organically grow the funds under administration of the company and brings vast experience, know-how and knowledge to the Cheshire Trafford team.
For various months now, as managing director of Cheshire Trafford (UK) Limited, Mr. Tuke has been heavily involved in the due diligence and compliance process of an Independent Financial Advisory (IFA) firm based in the City of London (United Kingdom). This targeted IFA business currently has 136 Million GBP (approximately U.S. $179 Million) of Funds Under Administration and historical recurring revenues of a little more than One Million GBP (approximately U.S. $1.32 million). This IFA firm has now become the Company’s most interesting business proposal and target acquisition since management implemented the inorganic growth plan in 2018.
Mr. Nick Tuke, CEO of Argentum 47, Inc., said: “Following a ground up review of the Cheshire Trafford business model in 2019, we have completely restructured and streamlined the business and its processes. I firmly believe that as a result of this Cheshire Trafford heads into 2020 in a stronger position than it has been for many years. Key to this has been the recruitment of two high quality and highly qualified Independent Financial Advisers, Mr. Declan Harrington (recruited in 2019) and Mr. Kenneth Kennison, both of whom bring a wealth of experience to the company. Taking this into consideration I fully expect the Funds Under Administration at Cheshire Trafford to grow by at least 20% between now and the end of Q2 2020, with this growth to continue in an upwards trend throughout the year, heralding an exciting new chapter in Cheshire Trafford’s 44-year history. As the Company´s new CEO, I will continue to work closely with Mr. Peter Smith and Mr. Enzo Taddei regarding further acquisitions, with the first of these being the firm based in the City of London. I have agreed with the Board of Directors a particularly robust due diligence and compliance review process for this and all other future acquisitions hence only when these have been carried out to my satisfaction, will we be entering into any formal written agreements. We are entering an incredibly exciting period for the Company and I am looking forward, over the coming months and years, to growing our existing business and building on the solid foundations that we now have put in place.”
Mr. Peter Smith, outgoing CEO and current Director of Argentum 47, Inc., said: “Since we changed the direction of the business away from the IPO world to the more stable income producing Financial Advisory platform, Mr. Tuke has become integral to all we do. Having worked with him previously, I know that his experience and knowledge of the IFA market is second to none and therefore it is the right decision to put the Company in his capable hands, thus allowing me to continue to seek out further financing and further potential acquisitions. The acquisition trail is an arduous one at times with a vast number of potential targets falling by the wayside after careful scrutiny; this move means that I can continue to dig around these potential targets with the knowledge that the Company is in the best possible hands and is being guided in its growth by someone who shares the ambition, drive and determination of the rest of the Board of Directors and someone who will accelerate the growth of the company in 2020 and beyond.”
https://finance.yahoo.com/news/argentum-47-inc-appoints-chief-143010721.html
https://www.otcmarkets.com/stock/ARGQ/security
Quartal Financial Solutions Inc. Stock sale $170,100 in revenue
On December 4, 2019, GEP Equity Holdings Limited (herein referred to as the “Seller”) a fully owned subsidiary of Argentum 47, Inc. entered into a legally binding stock purchase agreement with Quartal Financial Solutions AG (herein referred to as the “Purchaser”) a fully owned subsidiary of Quartal Financial Solutions Inc. In such agreement, the Seller agreed to sell to the Purchaser 227,100 common restricted shares of Quartal Financial Solutions Inc. for a total consideration of 170,325 Swiss Francs (equivalent to U.S.$170,100 at the date of the agreement).
On December 10, 2019, as per the agreement, the Purchaser wired the total consideration to our Attorney, Mr. David E. Wise, Esq., to be held in escrow.
On December 13, 2019, the beneficial ownership of the Quartal Financial Solutions Inc. common restricted shares was formally transferred from GEP Equity Holdings Limited to Quartal Financial Solutions AG and the total consideration was released to the Seller.
https://www.sec.gov/Archives/edgar/data/1533106/000149315219019156/form8-k.htm
Financing 8K:
On December 16, 2019, the fund managers of Keyholder Three Securitisation Fund, Xantis S.A., wired the sum of 250,000 GBP or, at the current exchange rate, U.S. $325,450 to the IOLTA escrow account of the Company´s Attorney, Mr. David E. Wise, Esq. These funds were effectively received on December 17, 2019.
On December 18, 2019, the new Loan Agreement for up to 500,000 GBP (equivalent to approximately U.S.$658,200) and Receivable Assignment Agreement were both fully executed. The exact terms and conditions of both agreements are fully disclosed in Exhibits 10.1 and 10.2 of this Form 8-k Current Report.
On December 20, 2019, having received sufficient evidence that the agreements were effectively fully executed, Mr. David E. Wise, Esq. proceeded to release the 250,000 GBP or, at the current exchange rate, U.S. $325,450 to the Company.
Now that the new Loan Agreement and Receivable Assignment Agreement have been both fully executed and the agreed 250,000 GBP or, at the current exchange rate, U.S. $325,450, has been wired, the Company now agrees to definitively defer the conversion of the Second Tranche under the June 6, 2018 Xantis agreement (“Original Agreement”) that was received on October 10, 2018, for a further two (2) years and one (1) day from the date of execution of the third addendum to the Original Agreement that was signed on December 13, 2019. The conversion price per share of the Second Tranche of the Original Agreement into equity of the Company will now be equivalent to the closing Market price two days prior the new conversion date which now will be December 14, 2021.
https://www.sec.gov/Archives/edgar/data/1533106/000149315219019496/form8-k.htm
$ARGQ website: http://www.arg47.com/
Cheshire Trafford Website: http://ctifa.com/
$ARGQ Twitter presence: https://twitter.com/Argentum47inc/with_replies
Creditum Limited to Become a London Stock Exchange (LSE) Listed Company
London, United Kingdom, July 30, 2019 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- Argentum 47, Inc. (www.arg47.com) (OTC: ARGQ) and its fully-owned foreign subsidiaries, a specialist in both Retail and Corporate Financial Services and Corporate Consultancy, with offices located the United Kingdom, today would like to announce that its client Creditum Limited (https://creditum.io/) will be listed on the prestigious London Stock Exchange (LSE - www.londonstockexchange.com).
On August 14, 2018, we announced that our Company had entered into a consultancy agreement with Creditum Limited to oversee and assist in their upcoming corporate growth including a listing on a recognized Stock Exchange and assisting in the future strategy of the company in return for a piece of equity and ongoing commissions for specific introductions and assistance.
Management of Argentum 47, Inc. have since been working with Creditum for many months, analysing the most suitable exchange for their potential unicorn company and collectively we have decided and committed to a London Stock Exchange Listing. Under the stewardship of Alfred Henry (http://alfredhenry.com/), a leading corporate advisor in London Stock Exchange listings, Argentum 47 will guide and assist Creditum through the listing process and application which has commenced in full this week.
Peter Smith, CEO of Argentum 47, Inc., said: “Creditum is a ground breaking company, a ‘neobank-cum-neolender’ in the fastest growing space we know. The London Stock Exchange was always the target market for Creditum but we had to ensure the company could qualify for such a prestigious Stock Exchange; we were delighted when we were informed that they indeed did. The independent valuation done by PWC earlier this year, based on a DCF model and post operational activity and KPI´s being achieved put the company on an average valuation of 103 Million Euros and a high end of 175 Million Euros, a significant valuation that I am sure will be beaten as the company starts to grow exponentially. We chose Alfred Henry as the United Kingdom conduit to the London Stock Exchange listing due to their exceptional pedigree; the team at Creditum have met Alfred Henry and are working on the relevant documents at the moment to process what will be a milestone listing. We have seen other Neo financial institutions hit valuations well into the billions, and there is no reason why Creditum, with its dual aspect business can not follow in their footsteps.”
http://www.globenewswire.com/news-release/2019/07/30/1893792/0/en/Creditum-Limited-to-Become-a-London-Stock-Exchange-LSE-Listed-Company.html?culture=fr-ca
$ARGQ issued the following shares at .02 recently based on their exceptional financing agreement with two lenders.
On January 14, 2019, in accordance with the written instructions received by the lender´s Trustees, the Company fully repaid Xantis Aion Securitisation Fund a total of U.S.$424,000 (U.S.$400,000 of principal and a further U.S.$24,000 in accrued interest) by way of the issuance 21,200,000 shares (restricted under Rule 144) of its common stock at a conversion price of U.S.$0.02 per share.
On January 24, 2019, in accordance with the Funding Agreement, the Company fully repaid William Marshal Plc. a total of US$106,000 (US$100,000 of principal and a further US$6,000 in accrued interest) by way of the issuance 5,300,000 shares (restricted under Rule 144) of its common stock at a conversion price of US$0.02 per share.
Note 5 – Acquisition of Cheshire Trafford (UK) Limited
On August 1, 2018, the Company completed the acquisition of Cheshire Trafford (UK) Limited (“Cheshire Trafford”) pursuant to a Share Purchase Agreement dated as of August 1, 2018 and acquired 100% of the ordinary shares of Cheshire Trafford.
Cheshire Trafford acts as a broker for the sale of Lump Sum or Single Premium Insurance Policies and Regular Premium Investment or Insurance Policies that are issued by reputable third party insurance companies.
The purchase consideration for the acquisition of Cheshire Trafford is based on a formula of 2.7 times Cheshire Trafford’s projected annual recurring revenues for the calendar year ending December 31, 2018. We took the gross revenues of Cheshire Trafford for the five months ended May 31, 2018, and annualized those recurring revenues and multiplied those revenues by 2.7 times in arriving at the contractual purchase consideration of $516,795. The purchase consideration is payable in following three installments:
? The first installment of $175,710 has been paid upon closing of the transaction.
? The second installment of $170,542 is due 18 months after the acquisition date.
? The third installment of $170,542 is due 36 months after the acquisition date.
The second and third installments could be reduced (but not increased) in the event that Cheshire Trafford’s trailing or recurring revenues are less than agreed recurring income target of GBP 144,185 during the 12-month period commencing on the Acquisition date, hence these two installments are treated as a contingent purchase consideration. Based on the historical data available regarding the recurring/trail revenues of Cheshire Trafford, Management believes that there is a 95% probability that Cheshire Trafford will achieve the recurring income target of GBP 144,185 during the 12-month period ending on July 31, 2019. Hence, the contingent purchase consideration is adjusted to take into account this probability factor.
In addition, to calculate the fair value of the contingent purchase consideration, our Management has discounted the remaining two installments of $341,084 to be paid, at a discount rate of 6% (our borrowing rate for the purpose of acquisitions) to arrive at the present value of $284,298 at the acquisition date. Total fair value of the purchase consideration is as follows:
Cheshire Trafford (UK) Limited, a Wholly Owned Subsidiary of Argentum 47, Inc., Successfully Increases its Funds Under Administration by $5,450,000
LONDON, United Kingdom, May 23, 2019 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- Argentum 47, Inc. (www.arg47.com) (OTC: ARGQ) and its fully-owned foreign subsidiaries, a specialist in both Retail and Corporate Financial Services and Corporate Consultancy, with offices located the United Kingdom, today would like to announce that its wholly owned subsidiary, Cheshire Trafford (UK) Limited, has recently increased its Funds under Administration by 4,300,000 GBP (approximately $5,450,000 at today’s exchange rate).
On August 1, 2018, the Company acquired Cheshire Trafford (UK) Limited (www.ctifa.com), an Independent Financial Advisory firm that administrated circa $39,000,000. The increase in Funds under Administration announced today represents an uplift of nearly 14% which is a major milestone in Management’s plans to endeavor to organically double Cheshire Trafford’s Funds under Administration before the end of the year 2019.
The Company would also like to announce that yesterday, Cheshire Trafford retained the services of a new and extremely experienced Independent Financial Advisor (IFA), Mr. Declan Iain Harrington (https://register.fca.org.uk/ShPo_individualdetailsPage?id=003b000000LUf2eAAD). This new advisor was retained mainly to advise and service the influx of pension transfers that are now coming from the “Pension Admin Team” (http://www.pensionadminteam.co.uk/), a company that recently executed a Introducer Appointed Rep (IAR) agreement with Cheshire Trafford. Since entering into the agreement, the “Pension Admin Team” has already provided the Company with approximately $500,000 of pension transfer business to be serviced and this figure is now growing daily.
The Company would like to announce that it is in the process of implementing a new 3% plus 1% model for all new business that Cheshire Trafford writes. The 3% representing the initial financial advisory fees and the 1% representing the ongoing trail commissions to be received from the new Funds under Administration.
Finally, the Company is also in the process of slowly moving the recurring / trail commissions on the now approximately $44,450,000 of Funds under Administration to the 1% model as it is very much an industry standard.
Mr. Nick Tuke, Managing Director of Cheshire Trafford (UK) Limited, said: “Mr. Harrington represents a perfect combination of experience, ambition and professionalism. We are extremely happy that he has decided to join the Cheshire Trafford team. With regards to the massive uplift of new Funds under Administration, I can only say that we are all ecstatic as this is a big stepping stone, and in the right direction, for the Company. We are slowly but surely molding a good template to be able to use it for the organic growth of future acquisitions.”
https://www.otcmarkets.com/stock/ARGQ/news/story?e&id=1364217
Cheshire Trafford (UK) Limited, a Wholly Owned Subsidiary of Argentum 47, Inc., on a Mission to Grow its IFA Business Exponentially in Record Breaking Time
https://www.otcmarkets.com/stock/ARGQ/news/story?e&id=1290106
Cheshire Trafford (UK) Limited, a Wholly Owned Subsidiary of Argentum 47, Inc., Executes Yet Another Agreement That Will Lead to Exponential Organic Growth of its Funds Under Administration
https://www.otcmarkets.com/stock/ARGQ/news/story?e&id=1303149
The reason why it will grow fast is because of the licenses $ARGQ has acquired from Cheshire Trafford.
By leveraging the licenses that we now own, we can significantly increase our business and revenues at very little extra cost and improve profitability. We intend to market the Company as a United Kingdom licensed entity for various Appointed Representatives (“AR”) and also Introducer Appointed Representatives “(IAR”). In 2018, Aurum Wealth Management Limited was approved by the UK Financial Authority “(FCA”) as an AR of Cheshire Trafford UK Limited and in early 2019, Global Alternative Administration (The Pension Admin Team) was appointed as an IAR to Cheshire Trafford UK Limited.
Having a European Union (EU) license will allow the Company to act in a role similar to an Appointed Representative (AR) for European Union wide brokerages. On October 1, 2018, the rules regarding financial services changed in Europe. There are over 10,000 entities and also individuals offering advice in Europe who now require a new license and we, through our subsidiary, Cheshire Trafford UK Limited, intend to thoroughly explore these new business opportunities.
During the latter part of 2018 and early 2019, the Company´s IFA business, Cheshire Trafford (UK) Limited, commenced leveraging its licenses in order to put in motion an aggressive marketing strategy with a view to significantly increase the business (funds under administration) and, by defect, the revenues. This was implemented at very little extra cost and will improve, over time, our current recurring and non-recurring revenues. The Company also started to market its IFA business as a United Kingdom fully licensed entity for various Appointed Representatives (“AR”) and also Introducer Appointed Representatives (“IAR”); hence, in late 2018, Aurum Wealth Management Limited was approved by the UK Financial Authority (“FCA”) as an AR of Cheshire Trafford and in early 2019, Global Alternative Administration (The Pension Admin Team) was appointed as an IAR to Cheshire Trafford. The Company has also completely revamped the website of our IFA business ( www.ctifa.com ) and started a UK radio campaign as part of the IFA Business´ marketing strategy.
Enzo Taddei, Director of Argentum 47, Inc., said: “When we acquired Cheshire Trafford back in August of 2018, we knew that we would have a lot of work ahead of us in order to set up new procedures and get the team thinking, acting and reacting in accordance to our business model. We were somewhat fixated on the idea of acquiring as many of Independent Financial Advisory firms as possible but then we realised that we had bought a Company with extremely valuable licenses and also a lot of potential for organic growth. By entering into these Appointed Representative (AR) and Introducer Appointed Representative (IAR) agreements like the one we announced in Q4 2018 regarding Aurum Wealth Management and this new one with Global Alternative Administration, we have found a way to grow Cheshire Trafford’s Funds under Administration exponentially at practically zero cost and without the need of the arduous financial statement audits that, as we all know, take forever to get done. With that said, we are still contemplating further acquisitions in the United Kingdom and also in South East Asia.”
Due to ever growing stringent FCA rules, there were so many companies and people that have loads of clients but now can not give "Financial Advice" hence $ARGQ is in a prime position to offer them a "Home" Being an Independent financial Advisor Cheshire can give the full spectrum of financial advice so that is why many financial companies are sending their clients to them.
The recent 10Q talked about potentially acquiring more fund advisory companies. Here is what was said in the 10Q
https://www.otcmarkets.com/filing/html?id=13421363&guid=9wGyUWHM7TChe3h
FUTURE PLANS
Our specific plan of operations and milestones from March 2020 through March 2021 are as follows:
1. CONTINUE TO DEVELOP AND GROW ALREADY ACQUIRED IFA BUSINESSES – CHESHIRE TRAFFORD (U.K.) LIMITED.
In January 2020, we revised the Terms of Business that we send out to all current and new clients. This revision contemplates offering these clients two types of services packages, “Basic” and “Comprehensive,” at a fee rate of 0.75% per annum (a minimum annual fee of 750 GBP or $980) and 1% per annum (a minimum annual fee of 1,000 GBP or $1,300), respectively. The “Basic” service package is what we are legally obliged to offer under U.K. FCA guidelines and the “Comprehensive” service package is much more complete and contemplates additional added value for the client. Within the revised Terms of Business, we have also implemented an upfront 3% fee that is payable by each new client that is onboarded to our client base. Both the upfront fee and annual fee are based on the amount of Funds that legacy clients and new clients authorize our Company to Administrate and ultimately look after their financial affairs.
So far this year, we have 25 new business clients that have sent us signed letters of authority and wish to engage our Company. Most of these new clients have opted for the “Comprehensive” service package. It is important to note that the Funds that we currently administrate range from $8,000 to $650,000 per client (equivalent to 6,000 GBP to 500,000 GBP) and that we have calculated that the average amount of Funds that we administrate per client, taking into consideration our historical data, is approximately $72,500.
Our goal for 2020, is to attract at least 100 new business clients (25 of which already are in the process of being onboarded as new business clients) hence our intent is to raise the Funds that we currently administrate by between $7.25 million to up $10 million. Between the 3% initial upfront fee and the ongoing/recurring 1% or 0.75% administration fee, we are aiming to raise our gross income by at least $250,000 on the low side and up to $400,000 on the high side in 2020. This uplift in gross revenue would represent 2 to 3 times the currently gross income.
Finally, it is our intent in 2020 to continue to leverage the licenses that we now own as believe that we can significantly increase our business and revenues at very little extra cost and improve profitability.
2. SEEK FURTHER FUNDING FOR FURTHER INORGANIC GROWTH VIA ACQUISITION
The Company is looking into entering a long-term funding agreement up to $10 million U.S. Dollars with a with a new European based Regulated Fund in order to accelerate our inorganic growth and acquisition plan with a view to consolidate our Company in the marketplace. Currently all negotiations are verbal negotiations.
3. ACQUIRE CERTAIN INDEPENDENT FINANCIAL ADVISORY FIRMS WITH FUNDS UNDER ADMINISTRATION:
During the year ended December 31, 2019, management commenced certain negotiations to acquire 100% of an Independent Financial Advisory (IFA) firm based in London (United Kingdom). This targeted IFA currently has 136 Million GBP (approximately U.S. $179 Million) of Funds under Administration and historical recurring revenues of a little more than One Million GBP (approximately U.S. $1.32 million). However, we do not currently have any written agreements as management is still in verbal negotiations with the owners of this IFA.
The Company intends to target and acquire more Independent Financial Advisory firms with funds under administration during the next 12 to 24 months.
As the Company acquires more Financial Advisory firms, each book of business will be analyzed to achieve the maximum return and revenue from the client bank without affecting the client offering. In addition, certain cost savings will be managed into the budgets by using technology for the administration, looking for duplication of services and by managing the client and the funds under administration in a more efficient way.
The acquisition of these entities will open a new network for the services of:
o New capital markets clients.
o Distribution of new funds / products.
o Maximizing the current books of business being bought.
o Expand and thus increase business via more financial advisors.
o Seek products that offer both a minimum of 1% trail (recurring) income and a secure risk averse home for clients’ funds.
o Seek cost savings, where possible, due to elimination of duplicate services.
o Implement rapid and efficient systems in order to allow information to flow to the clients and to management more effectively.
o Acquiring smaller, active client banks into our licenses and procedures for cost effective growth.
4. COMMENCE A TARGETED MARKETING PLAN
During 2020, our United Kingdom regulated business, Cheshire Trafford (U.K.) Limited, will continue with the direct marketing campaign that commenced in the second quarter of 2019, within the region using traditional print media, radio advertising, social media and editorial pieces. In conjunction with this campaign, the website and marketing of the Company will be refocused with a completely new image based around “Over 40 years of serving the community.” Two days per month in our office in the United Kingdom, we will offer free consultation to prospective clients that come and visit us, thus enabling us to potentially recruit them as new clients.
5. FURTHER EXPAND OUR RANGE OF SERVICES TO OUR FINANCIAL SERVICES CLIENTS
We will bring additional products to the client bank in order to maximize the potential returns per client with complementary products such as mortgages, trusts and more attractive funds.
6. CAPITAL MARKETS
The Company intends to continue its mandate to assist its client, Creditum Limited, with the listing of the Creditum Limited´s shares on the London Stock Exchange (“LSE”). Management believes that this public listing should be fully executed and finalized by sometime in the year 2020.
https://www.otcmarkets.com/filing/html?id=14030035&guid=yhYWUFpQJcYZ93h
Enzo CFO Tweets concerning Creditum
$ARGQ: Creditum is a client of Argentum 47, Inc., our Company was retained to assist them with a "Big Board" European Stock Exchange listing in exchange for an interesting equity stake… this client is now shaping up. Valuation looking very good.
$ARGQ: Creditium´s Director also stated in their PR: "The Company is also in the process of obtaining a stock exchange listing, which means that its valuation should be further enhanced once the shares are publicly tradable."
$ARGQ - Creditum´s Director stated: "Creditum has already obtained a DCF valuation estimate of over 100 million euros, from one of the big four auditor firms."
https://www.yahoo.com/news/despite-brexit-fintech-launch-attracts-023500646.html
CEO Statement
“Argentum 47, Inc. are a dynamic and forward thinking Company who see the importance of sound independent financial planning in the United Kingdom and ensuring that our clients are confident in the advice that we provide them with. In order to provide this service we are developing a national network of advisers who act with honesty and integrity with our clients best interests at the forefront of any solutions provided to them. We are striving towards an excellency as yet unseen in the Financial Services Sector and will continue to build both organically and by way of acquisition allowing us access to talent, economies of scale and market penetration”
The share structure will not change until December 14, 2021.
$ARGQ On December 18, 2019… The Company diligently deferred dilution until on earlier than December 14, 2021. The Company also executed a new two-year loan for up to 500,000 GBP or U.S.$658,000 as a condition of such conversion deferral.
https://twitter.com/Argentum47inc/status/1209042570720038912
ARGQ SECURITY DETAILS
Share Structure
Market Cap Market Cap 1,181,979 03/27/2020
Authorized Shares 950,000,000 03/13/2020
Outstanding Shares 590,989,409 03/13/2020
Restricted 229,099,349 03/13/2020
Unrestricted 361,890,060 03/13/2020
Held at DTC Not Available
Float 358,152,367 08/06/2018
Par Value 0.001
Where you see Creditum Limited on the official list below it means the Creditum IPO on the London Exchange is close.
https://marketsecurities.fca.org.uk/officiallist
Argentum 47, Inc. Appoints a New Chief Executive Officer (CEO)
London, UK, Feb. 03, 2020 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE --Argentum 47, Inc. (www.arg47.com) (ARGQ) and its fully-owned foreign subsidiaries, a specialist in both Retail and Corporate Financial Services and Corporate Consultancy, with offices located the United Kingdom, today would like to announce that the Board of Directors has appointed a new Chief Executive Officer.
On February 1, 2020, Mr. Peter J. Smith stepped down as the Company’s Chief Executive Officer. The Board of Directors voted favourably to employ Mr. Nicholas P. Tuke as the Company’s new Chief Executive Officer. The Board of Directors also agreed that Mr. Peter J. Smith will continue in his role as a member of the Board of Directors along with Mr. Enzo Taddei, who will also continue as the Company’s Chief Financial Officer.
Mr. Smith’s decision to step down as CEO was purely motivated in order to allow him to concentrate 100% of his time on the growth by acquisition strategy that the Company implemented in 2018 and to hand over the financial services business to Mr. Tuke, who has extensive and proven experience in that field.
Alongside his new role as CEO of Argentum 47, Inc., Mr. Tuke will continue in his role as Managing Director of the Company’s wholly owned United Kingdom subsidiary, Cheshire Trafford (UK) Limited, a Independent Financial Advisory Firm that currently has circa of U.S.$51 million Dollars of Funds Under Management / Administration.
The first executive decision that Mr. Tuke made as the Company’s new CEO was to employ Mr. Kenneth Kennison under the Cheshire Trafford (UK) Limited banner. Mr. Kennison, the Company’s new lead Independent Financial Adviser, has been tasked to organically grow the funds under administration of the company and brings vast experience, know-how and knowledge to the Cheshire Trafford team.
For various months now, as managing director of Cheshire Trafford (UK) Limited, Mr. Tuke has been heavily involved in the due diligence and compliance process of an Independent Financial Advisory (IFA) firm based in the City of London (United Kingdom). This targeted IFA business currently has 136 Million GBP (approximately U.S. $179 Million) of Funds Under Administration and historical recurring revenues of a little more than One Million GBP (approximately U.S. $1.32 million). This IFA firm has now become the Company’s most interesting business proposal and target acquisition since management implemented the inorganic growth plan in 2018.
Mr. Nick Tuke, CEO of Argentum 47, Inc., said: “Following a ground up review of the Cheshire Trafford business model in 2019, we have completely restructured and streamlined the business and its processes. I firmly believe that as a result of this Cheshire Trafford heads into 2020 in a stronger position than it has been for many years. Key to this has been the recruitment of two high quality and highly qualified Independent Financial Advisers, Mr. Declan Harrington (recruited in 2019) and Mr. Kenneth Kennison, both of whom bring a wealth of experience to the company. Taking this into consideration I fully expect the Funds Under Administration at Cheshire Trafford to grow by at least 20% between now and the end of Q2 2020, with this growth to continue in an upwards trend throughout the year, heralding an exciting new chapter in Cheshire Trafford’s 44-year history. As the Company´s new CEO, I will continue to work closely with Mr. Peter Smith and Mr. Enzo Taddei regarding further acquisitions, with the first of these being the firm based in the City of London. I have agreed with the Board of Directors a particularly robust due diligence and compliance review process for this and all other future acquisitions hence only when these have been carried out to my satisfaction, will we be entering into any formal written agreements. We are entering an incredibly exciting period for the Company and I am looking forward, over the coming months and years, to growing our existing business and building on the solid foundations that we now have put in place.”
Mr. Peter Smith, outgoing CEO and current Director of Argentum 47, Inc., said: “Since we changed the direction of the business away from the IPO world to the more stable income producing Financial Advisory platform, Mr. Tuke has become integral to all we do. Having worked with him previously, I know that his experience and knowledge of the IFA market is second to none and therefore it is the right decision to put the Company in his capable hands, thus allowing me to continue to seek out further financing and further potential acquisitions. The acquisition trail is an arduous one at times with a vast number of potential targets falling by the wayside after careful scrutiny; this move means that I can continue to dig around these potential targets with the knowledge that the Company is in the best possible hands and is being guided in its growth by someone who shares the ambition, drive and determination of the rest of the Board of Directors and someone who will accelerate the growth of the company in 2020 and beyond.”
https://finance.yahoo.com/news/argentum-47-inc-appoints-chief-143010721.html
https://www.otcmarkets.com/stock/ARGQ/security
Quartal Financial Solutions Inc. Stock sale $170,100 in revenue
On December 4, 2019, GEP Equity Holdings Limited (herein referred to as the “Seller”) a fully owned subsidiary of Argentum 47, Inc. entered into a legally binding stock purchase agreement with Quartal Financial Solutions AG (herein referred to as the “Purchaser”) a fully owned subsidiary of Quartal Financial Solutions Inc. In such agreement, the Seller agreed to sell to the Purchaser 227,100 common restricted shares of Quartal Financial Solutions Inc. for a total consideration of 170,325 Swiss Francs (equivalent to U.S.$170,100 at the date of the agreement).
On December 10, 2019, as per the agreement, the Purchaser wired the total consideration to our Attorney, Mr. David E. Wise, Esq., to be held in escrow.
On December 13, 2019, the beneficial ownership of the Quartal Financial Solutions Inc. common restricted shares was formally transferred from GEP Equity Holdings Limited to Quartal Financial Solutions AG and the total consideration was released to the Seller.
https://www.sec.gov/Archives/edgar/data/1533106/000149315219019156/form8-k.htm
Financing 8K:
On December 16, 2019, the fund managers of Keyholder Three Securitisation Fund, Xantis S.A., wired the sum of 250,000 GBP or, at the current exchange rate, U.S. $325,450 to the IOLTA escrow account of the Company´s Attorney, Mr. David E. Wise, Esq. These funds were effectively received on December 17, 2019.
On December 18, 2019, the new Loan Agreement for up to 500,000 GBP (equivalent to approximately U.S.$658,200) and Receivable Assignment Agreement were both fully executed. The exact terms and conditions of both agreements are fully disclosed in Exhibits 10.1 and 10.2 of this Form 8-k Current Report.
On December 20, 2019, having received sufficient evidence that the agreements were effectively fully executed, Mr. David E. Wise, Esq. proceeded to release the 250,000 GBP or, at the current exchange rate, U.S. $325,450 to the Company.
Now that the new Loan Agreement and Receivable Assignment Agreement have been both fully executed and the agreed 250,000 GBP or, at the current exchange rate, U.S. $325,450, has been wired, the Company now agrees to definitively defer the conversion of the Second Tranche under the June 6, 2018 Xantis agreement (“Original Agreement”) that was received on October 10, 2018, for a further two (2) years and one (1) day from the date of execution of the third addendum to the Original Agreement that was signed on December 13, 2019. The conversion price per share of the Second Tranche of the Original Agreement into equity of the Company will now be equivalent to the closing Market price two days prior the new conversion date which now will be December 14, 2021.
https://www.sec.gov/Archives/edgar/data/1533106/000149315219019496/form8-k.htm
$ARGQ website: http://www.arg47.com/
Cheshire Trafford Website: http://ctifa.com/
$ARGQ Twitter presence: https://twitter.com/Argentum47inc/with_replies
Creditum Limited to Become a London Stock Exchange (LSE) Listed Company
London, United Kingdom, July 30, 2019 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- Argentum 47, Inc. (www.arg47.com) (OTC: ARGQ) and its fully-owned foreign subsidiaries, a specialist in both Retail and Corporate Financial Services and Corporate Consultancy, with offices located the United Kingdom, today would like to announce that its client Creditum Limited (https://creditum.io/) will be listed on the prestigious London Stock Exchange (LSE - www.londonstockexchange.com).
On August 14, 2018, we announced that our Company had entered into a consultancy agreement with Creditum Limited to oversee and assist in their upcoming corporate growth including a listing on a recognized Stock Exchange and assisting in the future strategy of the company in return for a piece of equity and ongoing commissions for specific introductions and assistance.
Management of Argentum 47, Inc. have since been working with Creditum for many months, analysing the most suitable exchange for their potential unicorn company and collectively we have decided and committed to a London Stock Exchange Listing. Under the stewardship of Alfred Henry (http://alfredhenry.com/), a leading corporate advisor in London Stock Exchange listings, Argentum 47 will guide and assist Creditum through the listing process and application which has commenced in full this week.
Peter Smith, CEO of Argentum 47, Inc., said: “Creditum is a ground breaking company, a ‘neobank-cum-neolender’ in the fastest growing space we know. The London Stock Exchange was always the target market for Creditum but we had to ensure the company could qualify for such a prestigious Stock Exchange; we were delighted when we were informed that they indeed did. The independent valuation done by PWC earlier this year, based on a DCF model and post operational activity and KPI´s being achieved put the company on an average valuation of 103 Million Euros and a high end of 175 Million Euros, a significant valuation that I am sure will be beaten as the company starts to grow exponentially. We chose Alfred Henry as the United Kingdom conduit to the London Stock Exchange listing due to their exceptional pedigree; the team at Creditum have met Alfred Henry and are working on the relevant documents at the moment to process what will be a milestone listing. We have seen other Neo financial institutions hit valuations well into the billions, and there is no reason why Creditum, with its dual aspect business can not follow in their footsteps.”
http://www.globenewswire.com/news-release/2019/07/30/1893792/0/en/Creditum-Limited-to-Become-a-London-Stock-Exchange-LSE-Listed-Company.html?culture=fr-ca
$ARGQ issued the following shares at .02 recently based on their exceptional financing agreement with two lenders.
On January 14, 2019, in accordance with the written instructions received by the lender´s Trustees, the Company fully repaid Xantis Aion Securitisation Fund a total of U.S.$424,000 (U.S.$400,000 of principal and a further U.S.$24,000 in accrued interest) by way of the issuance 21,200,000 shares (restricted under Rule 144) of its common stock at a conversion price of U.S.$0.02 per share.
On January 24, 2019, in accordance with the Funding Agreement, the Company fully repaid William Marshal Plc. a total of US$106,000 (US$100,000 of principal and a further US$6,000 in accrued interest) by way of the issuance 5,300,000 shares (restricted under Rule 144) of its common stock at a conversion price of US$0.02 per share.
Note 5 – Acquisition of Cheshire Trafford (UK) Limited
On August 1, 2018, the Company completed the acquisition of Cheshire Trafford (UK) Limited (“Cheshire Trafford”) pursuant to a Share Purchase Agreement dated as of August 1, 2018 and acquired 100% of the ordinary shares of Cheshire Trafford.
Cheshire Trafford acts as a broker for the sale of Lump Sum or Single Premium Insurance Policies and Regular Premium Investment or Insurance Policies that are issued by reputable third party insurance companies.
The purchase consideration for the acquisition of Cheshire Trafford is based on a formula of 2.7 times Cheshire Trafford’s projected annual recurring revenues for the calendar year ending December 31, 2018. We took the gross revenues of Cheshire Trafford for the five months ended May 31, 2018, and annualized those recurring revenues and multiplied those revenues by 2.7 times in arriving at the contractual purchase consideration of $516,795. The purchase consideration is payable in following three installments:
? The first installment of $175,710 has been paid upon closing of the transaction.
? The second installment of $170,542 is due 18 months after the acquisition date.
? The third installment of $170,542 is due 36 months after the acquisition date.
The second and third installments could be reduced (but not increased) in the event that Cheshire Trafford’s trailing or recurring revenues are less than agreed recurring income target of GBP 144,185 during the 12-month period commencing on the Acquisition date, hence these two installments are treated as a contingent purchase consideration. Based on the historical data available regarding the recurring/trail revenues of Cheshire Trafford, Management believes that there is a 95% probability that Cheshire Trafford will achieve the recurring income target of GBP 144,185 during the 12-month period ending on July 31, 2019. Hence, the contingent purchase consideration is adjusted to take into account this probability factor.
In addition, to calculate the fair value of the contingent purchase consideration, our Management has discounted the remaining two installments of $341,084 to be paid, at a discount rate of 6% (our borrowing rate for the purpose of acquisitions) to arrive at the present value of $284,298 at the acquisition date. Total fair value of the purchase consideration is as follows:
Cheshire Trafford (UK) Limited, a Wholly Owned Subsidiary of Argentum 47, Inc., Successfully Increases its Funds Under Administration by $5,450,000
LONDON, United Kingdom, May 23, 2019 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- Argentum 47, Inc. (www.arg47.com) (OTC: ARGQ) and its fully-owned foreign subsidiaries, a specialist in both Retail and Corporate Financial Services and Corporate Consultancy, with offices located the United Kingdom, today would like to announce that its wholly owned subsidiary, Cheshire Trafford (UK) Limited, has recently increased its Funds under Administration by 4,300,000 GBP (approximately $5,450,000 at today’s exchange rate).
On August 1, 2018, the Company acquired Cheshire Trafford (UK) Limited (www.ctifa.com), an Independent Financial Advisory firm that administrated circa $39,000,000. The increase in Funds under Administration announced today represents an uplift of nearly 14% which is a major milestone in Management’s plans to endeavor to organically double Cheshire Trafford’s Funds under Administration before the end of the year 2019.
The Company would also like to announce that yesterday, Cheshire Trafford retained the services of a new and extremely experienced Independent Financial Advisor (IFA), Mr. Declan Iain Harrington (https://register.fca.org.uk/ShPo_individualdetailsPage?id=003b000000LUf2eAAD). This new advisor was retained mainly to advise and service the influx of pension transfers that are now coming from the “Pension Admin Team” (http://www.pensionadminteam.co.uk/), a company that recently executed a Introducer Appointed Rep (IAR) agreement with Cheshire Trafford. Since entering into the agreement, the “Pension Admin Team” has already provided the Company with approximately $500,000 of pension transfer business to be serviced and this figure is now growing daily.
The Company would like to announce that it is in the process of implementing a new 3% plus 1% model for all new business that Cheshire Trafford writes. The 3% representing the initial financial advisory fees and the 1% representing the ongoing trail commissions to be received from the new Funds under Administration.
Finally, the Company is also in the process of slowly moving the recurring / trail commissions on the now approximately $44,450,000 of Funds under Administration to the 1% model as it is very much an industry standard.
Mr. Nick Tuke, Managing Director of Cheshire Trafford (UK) Limited, said: “Mr. Harrington represents a perfect combination of experience, ambition and professionalism. We are extremely happy that he has decided to join the Cheshire Trafford team. With regards to the massive uplift of new Funds under Administration, I can only say that we are all ecstatic as this is a big stepping stone, and in the right direction, for the Company. We are slowly but surely molding a good template to be able to use it for the organic growth of future acquisitions.”
https://www.otcmarkets.com/stock/ARGQ/news/story?e&id=1364217
Cheshire Trafford (UK) Limited, a Wholly Owned Subsidiary of Argentum 47, Inc., on a Mission to Grow its IFA Business Exponentially in Record Breaking Time
https://www.otcmarkets.com/stock/ARGQ/news/story?e&id=1290106
Cheshire Trafford (UK) Limited, a Wholly Owned Subsidiary of Argentum 47, Inc., Executes Yet Another Agreement That Will Lead to Exponential Organic Growth of its Funds Under Administration
https://www.otcmarkets.com/stock/ARGQ/news/story?e&id=1303149
The reason why it will grow fast is because of the licenses $ARGQ has acquired from Cheshire Trafford.
By leveraging the licenses that we now own, we can significantly increase our business and revenues at very little extra cost and improve profitability. We intend to market the Company as a United Kingdom licensed entity for various Appointed Representatives (“AR”) and also Introducer Appointed Representatives “(IAR”). In 2018, Aurum Wealth Management Limited was approved by the UK Financial Authority “(FCA”) as an AR of Cheshire Trafford UK Limited and in early 2019, Global Alternative Administration (The Pension Admin Team) was appointed as an IAR to Cheshire Trafford UK Limited.
Having a European Union (EU) license will allow the Company to act in a role similar to an Appointed Representative (AR) for European Union wide brokerages. On October 1, 2018, the rules regarding financial services changed in Europe. There are over 10,000 entities and also individuals offering advice in Europe who now require a new license and we, through our subsidiary, Cheshire Trafford UK Limited, intend to thoroughly explore these new business opportunities.
During the latter part of 2018 and early 2019, the Company´s IFA business, Cheshire Trafford (UK) Limited, commenced leveraging its licenses in order to put in motion an aggressive marketing strategy with a view to significantly increase the business (funds under administration) and, by defect, the revenues. This was implemented at very little extra cost and will improve, over time, our current recurring and non-recurring revenues. The Company also started to market its IFA business as a United Kingdom fully licensed entity for various Appointed Representatives (“AR”) and also Introducer Appointed Representatives (“IAR”); hence, in late 2018, Aurum Wealth Management Limited was approved by the UK Financial Authority (“FCA”) as an AR of Cheshire Trafford and in early 2019, Global Alternative Administration (The Pension Admin Team) was appointed as an IAR to Cheshire Trafford. The Company has also completely revamped the website of our IFA business ( www.ctifa.com ) and started a UK radio campaign as part of the IFA Business´ marketing strategy.
Enzo Taddei, Director of Argentum 47, Inc., said: “When we acquired Cheshire Trafford back in August of 2018, we knew that we would have a lot of work ahead of us in order to set up new procedures and get the team thinking, acting and reacting in accordance to our business model. We were somewhat fixated on the idea of acquiring as many of Independent Financial Advisory firms as possible but then we realised that we had bought a Company with extremely valuable licenses and also a lot of potential for organic growth. By entering into these Appointed Representative (AR) and Introducer Appointed Representative (IAR) agreements like the one we announced in Q4 2018 regarding Aurum Wealth Management and this new one with Global Alternative Administration, we have found a way to grow Cheshire Trafford’s Funds under Administration exponentially at practically zero cost and without the need of the arduous financial statement audits that, as we all know, take forever to get done. With that said, we are still contemplating further acquisitions in the United Kingdom and also in South East Asia.”
Due to ever growing stringent FCA rules, there were so many companies and people that have loads of clients but now can not give "Financial Advice" hence $ARGQ is in a prime position to offer them a "Home" Being an Independent financial Advisor Cheshire can give the full spectrum of financial advice so that is why many financial companies are sending their clients to them.
The recent 10Q talked about potentially acquiring more fund advisory companies. Here is what was said in the 10Q
https://www.otcmarkets.com/filing/html?id=13421363&guid=9wGyUWHM7TChe3h
FUTURE PLANS
Our specific plan of operations and milestones from March 2020 through March 2021 are as follows:
1. CONTINUE TO DEVELOP AND GROW ALREADY ACQUIRED IFA BUSINESSES – CHESHIRE TRAFFORD (U.K.) LIMITED.
In January 2020, we revised the Terms of Business that we send out to all current and new clients. This revision contemplates offering these clients two types of services packages, “Basic” and “Comprehensive,” at a fee rate of 0.75% per annum (a minimum annual fee of 750 GBP or $980) and 1% per annum (a minimum annual fee of 1,000 GBP or $1,300), respectively. The “Basic” service package is what we are legally obliged to offer under U.K. FCA guidelines and the “Comprehensive” service package is much more complete and contemplates additional added value for the client. Within the revised Terms of Business, we have also implemented an upfront 3% fee that is payable by each new client that is onboarded to our client base. Both the upfront fee and annual fee are based on the amount of Funds that legacy clients and new clients authorize our Company to Administrate and ultimately look after their financial affairs.
So far this year, we have 25 new business clients that have sent us signed letters of authority and wish to engage our Company. Most of these new clients have opted for the “Comprehensive” service package. It is important to note that the Funds that we currently administrate range from $8,000 to $650,000 per client (equivalent to 6,000 GBP to 500,000 GBP) and that we have calculated that the average amount of Funds that we administrate per client, taking into consideration our historical data, is approximately $72,500.
Our goal for 2020, is to attract at least 100 new business clients (25 of which already are in the process of being onboarded as new business clients) hence our intent is to raise the Funds that we currently administrate by between $7.25 million to up $10 million. Between the 3% initial upfront fee and the ongoing/recurring 1% or 0.75% administration fee, we are aiming to raise our gross income by at least $250,000 on the low side and up to $400,000 on the high side in 2020. This uplift in gross revenue would represent 2 to 3 times the currently gross income.
Finally, it is our intent in 2020 to continue to leverage the licenses that we now own as believe that we can significantly increase our business and revenues at very little extra cost and improve profitability.
2. SEEK FURTHER FUNDING FOR FURTHER INORGANIC GROWTH VIA ACQUISITION
The Company is looking into entering a long-term funding agreement up to $10 million U.S. Dollars with a with a new European based Regulated Fund in order to accelerate our inorganic growth and acquisition plan with a view to consolidate our Company in the marketplace. Currently all negotiations are verbal negotiations.
3. ACQUIRE CERTAIN INDEPENDENT FINANCIAL ADVISORY FIRMS WITH FUNDS UNDER ADMINISTRATION:
During the year ended December 31, 2019, management commenced certain negotiations to acquire 100% of an Independent Financial Advisory (IFA) firm based in London (United Kingdom). This targeted IFA currently has 136 Million GBP (approximately U.S. $179 Million) of Funds under Administration and historical recurring revenues of a little more than One Million GBP (approximately U.S. $1.32 million). However, we do not currently have any written agreements as management is still in verbal negotiations with the owners of this IFA.
The Company intends to target and acquire more Independent Financial Advisory firms with funds under administration during the next 12 to 24 months.
As the Company acquires more Financial Advisory firms, each book of business will be analyzed to achieve the maximum return and revenue from the client bank without affecting the client offering. In addition, certain cost savings will be managed into the budgets by using technology for the administration, looking for duplication of services and by managing the client and the funds under administration in a more efficient way.
The acquisition of these entities will open a new network for the services of:
o New capital markets clients.
o Distribution of new funds / products.
o Maximizing the current books of business being bought.
o Expand and thus increase business via more financial advisors.
o Seek products that offer both a minimum of 1% trail (recurring) income and a secure risk averse home for clients’ funds.
o Seek cost savings, where possible, due to elimination of duplicate services.
o Implement rapid and efficient systems in order to allow information to flow to the clients and to management more effectively.
o Acquiring smaller, active client banks into our licenses and procedures for cost effective growth.
4. COMMENCE A TARGETED MARKETING PLAN
During 2020, our United Kingdom regulated business, Cheshire Trafford (U.K.) Limited, will continue with the direct marketing campaign that commenced in the second quarter of 2019, within the region using traditional print media, radio advertising, social media and editorial pieces. In conjunction with this campaign, the website and marketing of the Company will be refocused with a completely new image based around “Over 40 years of serving the community.” Two days per month in our office in the United Kingdom, we will offer free consultation to prospective clients that come and visit us, thus enabling us to potentially recruit them as new clients.
5. FURTHER EXPAND OUR RANGE OF SERVICES TO OUR FINANCIAL SERVICES CLIENTS
We will bring additional products to the client bank in order to maximize the potential returns per client with complementary products such as mortgages, trusts and more attractive funds.
6. CAPITAL MARKETS
The Company intends to continue its mandate to assist its client, Creditum Limited, with the listing of the Creditum Limited´s shares on the London Stock Exchange (“LSE”). Management believes that this public listing should be fully executed and finalized by sometime in the year 2020.
https://www.otcmarkets.com/filing/html?id=14030035&guid=yhYWUFpQJcYZ93h
Enzo CFO Tweets concerning Creditum
$ARGQ: Creditum is a client of Argentum 47, Inc., our Company was retained to assist them with a "Big Board" European Stock Exchange listing in exchange for an interesting equity stake… this client is now shaping up. Valuation looking very good.
$ARGQ: Creditium´s Director also stated in their PR: "The Company is also in the process of obtaining a stock exchange listing, which means that its valuation should be further enhanced once the shares are publicly tradable."
$ARGQ - Creditum´s Director stated: "Creditum has already obtained a DCF valuation estimate of over 100 million euros, from one of the big four auditor firms."
https://www.yahoo.com/news/despite-brexit-fintech-launch-attracts-023500646.html
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