Fintech Select Ltd V.FTEC

Alternate Symbol(s): SLXXF

Fintech Select is a provider of pre-paid card programs, an online payment platform, and a POS cryptocurrency platform that all are in-house developed platforms. The company also operates a multi-lingual call centre that provides services to customers across all its platforms, and to third-party customers. These core assets have been unified and enabled to operate through separate divisions, all harmoniously working together to create a new environment for consumers and businesses alike.

TSXV:FTEC - Post by User

Fintech Select Ltd

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Comment by Bobwinson Mar 30, 2010 6:38pm

441 Views

Post# 16941672

RE: News - Load to retire debt early

Pretty expensive financing but I guess it's worth it if SCG can use the money to significantly grow revs and eps.

4million shares X .07 = 280K +110K cash= $390K loan fees plus interest.

Also Comvest bought 5.8 million shares from the previous lender. They end up with 10 million shares. Hope they are smart about disposing of the shares over time.

Also terms seem to indicate SCG expects share price to be significantly higher over time. Buyback of shares requires SCG to pay .14 to Comvest AND SCG cannot issue new shares at under .10 without Comvest consent.

Let's hope .14 looks really cheap later this year. SCG.v should already be over .20 based on forward eps from Q3 of .006. Anxious to see how Q4 looks.

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