We are actively engaged in discussions with acquisition targets that range from $5 million to more than $50 million in annual revenues, are cash flow positive, growing revenues 20%+ annually and require minimal operational capital. We have the ability to receive funds from an institutional investor that gives us the ability to expand and do so at a rapid pace." Mr. Pursglove continues, "We believe we can achieve 20% organic revenue growth based on existing clients and current contracts... In addition, we are focused on improving our balance sheet and moving to a listed exchange as soon as possible.”
Subsequent to the End of 2020:
On March 19, 2021, Beyond Commerce entered into a securities exchange agreement with an existing institutional investor, whereby, in exchange for the Investor returning to the Company for cancellation the Senior Secured Redeemable Convertible Debenture in the initial face amount of $2,717,391.30, issued by the Company on August 7, 2018, which was convertible into Common Stock at a variable conversion price, the Company is issuing to the Investor 1,556,905 shares of the Company's Series C Convertible Preferred Stock, which are convertible into a fixed number of shares of Common Stock
On March 31, 2021, Beyond Commerce entered into a Stock Purchase Agreement with an existing institutional investor pursuant to which the Investor purchased for $1,000,000.00 in cash 10,000 shares of the Company's Series C Convertible Preferred Stock, convertible into 100,000,000 shares of the Company's common stock, at a fixed conversion price of $0.01 per share.
Lots to look forward to in 2021!
