Asset Sale to US Listed Company
Merchant Technology Ltd has completed the sale of 3 technology platforms to a US-based company called Flexwork Innovations Inc (OTC Markets Listed).
FlexWork Innovations Inc. is an OTC-traded company specializing in acquiring, integrating, and scaling businesses that deliver marketing, financial services, and essential HQ solutions to SMEs and mobile workers. Acquired technology platforms are for streamlining HQ Functions for SMEs and Mobile Workers. The company recently completed the reverse take-over of a company called Organic Sales & Marketing Inc.
Flexwork Innovations Inc- Ticker Symbol on the OTC Expert Market* –https://www.nasdaq.com/market-activity/stocks/ogsm
(the name is currently being changed from OSM to Flexwork Innnovations Inc)
*OTC Expert Market – The Expert Market is the entry point market with very low levels of reporting. The Board of Flexwork are currently preparing the audited statements needed to file with OTC to subsequently move up to become a Reporting Stock.
The Transactions Details are as Follows:
- Assets sold – SimplyPayMe, Mytown UK, SimplyTrades & Services
- Acquirer – FlexWork Innovations Inc.
- Consideration Paid – 43,256,542 shares in FlexWork Innovations Inc.
As part of the transaction Dominic Brookman will remain as a Board Director of Flexwork and help to drive future acquisition opportunities with the ultimate aim to uplist to Nasdaq. The Merchant Board believe this deal to fully align with their strategy of acquiring, improving and subsequently selling tech assets in the SME sector.