Part of why some of the delay of final SEC FILINGS - is they purchased another finance company in Jan of 2019 (actually a direct lender in this case) and combined it with the rolling-in of assets to the final FRFS/GIFX merger...per a Feb 4th, 2019 PR from the company and SEC attorney William Aul.
GRANDEX FINANCE...and they specialize in "Payday" style lending to individuals and also business "factoring loans" where companies borrow against future receivables to help their current cash flow needs.
Both of those types of lending are a mega business in North America with extremely high margins. Better than owning a damn bank usually.
Also do "FACTORING BUSINESS LOANS" which means borrowing against in-coming receivables at high interest rates for cash flows...it's also extremely lucrative and profitable to the lender...aka GIFX now !
"Alternate financing" or what we in N. America call "bad credit or low credit score loans or higher risk lending" is one of the most lucrative lending business segments in existence. Many car dealers make their most bank and profit on these types of loans, more than they make by selling the actual car.
Some of the most rapidly grown/growing "finance companies" to go public are entire chains now of "pay day loan stores"....found in every major metro area in N. America (I have two within a short distance of me, always on main blvd streets with high traffic, looking for walk-in and regular clients). Both that are near me, are public traded companies, part of franchised branded store fronts now - mini bansk essentially. They will also handle wire transfers and other things- to make fees, lots of cash fees and interest. Profit machines.
grandexfinance.com/
GIFA Inc bought that company lock, stock and BARREL...as part of this reverse merger.....
"Factoring is a multifaceted financing technique whose use is rapidly increasing worldwide and its use is becoming widespread in Northern Cyprus.
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Grandex Finance Ltd. As we have been with you for years, we know your requirements well. Please review the services we offer; we are sure that we can catch an opportunity that creates value for you."
NOTICE: It's not just "payday loans" to consumers. They're FACTORING LOANS to small and medium sized business which will become their largest and most lucrative division IMO.
Factoring is where a business borrows against future receivables when they're growing rapidly and need cash flow....the interest reates are stiff (high). Extremely lucrative and high profit/low overhead and throws off cash, lots of cash to the lender. Gifa Holdings is already an extremely experienced loan brokerage, so they know the lending business inside and out. This was a perfect acquisition for their skill set and expertise.
READ the SEC FILINGS of half the OTC companies in existence and they all use "FACTORING LOANS"...usually from a company called "POWERUP LENDING" and it's a very lucrative biz. .POWERUP loans big money to the OTC companies here in N. America, they're plastered all over half the OTC SEC filings I've ever read, even on all QB tier companies. Yes, that's a fact.
GIFX is taking that finance company/loan company biz model to "THEIR PART OF THE WORLD" which will be huge, and much sought after.
An OTC play with multiple business units and hard assets, aka buildings and real estate they own.
They built that new $12 million euro headquarters, documented the construction for the world to see, and completed the entire thing in under about 4 months. Stunning. After they paid $2.9 euros cash for a former Nissan dealership and the prime corner traffic circle acreage it was located on (yes, we know who the commercial real estate broker was and the commercial real estate brokerage site, extremely popular in their part of the world, like a Loopnet or Zillow N. America)
Their new immaculate world class, world headquarters building, show me any other OTC stock with that, any one, anywhere.
$GIFX and Gifa, as real as it gets. Hard assets, growth, business units, employees, lots of employees. The polar opposite of 90% of what one will find on the OTC.
Their real estate holdings alone make this a $1 dollar stock on the day they SEC file their final filings.
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