First Global Data Ltd FGBDF

Technology Computer Systems

First Global Data Ltd is a Canada-based company. The Company is a financial services technology (FINTECH) company. The Company enables its strategic partners and clients around the world through its financial services technology platform. Its technology drives the convergence of compliant domestic and cross-border payments, shopping, peer to peer, business to consumer and business to business payments. The Company's two lines of business includes mobile payments and cross-border payments. The Company's FINTECH solutions include FirstGlobalMoney, Happytransfer, Vpayqwik and Payqwik.

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First Global Data Ltd

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Comment by stockwatch99on Aug 04, 2018 2:08am

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Post# 28414155

RE:RE:RE:The Essence Of FRAUD !!!???!!!

I forgot: What about the "borrowings"?

My understanding is that FGD has received already some payments for business related to the technology licenses. Those payments, however, did not meet the IFRS standards, i.e. they probably were not properly aligned with contracted deliveries. This is why this money cannot be booked as revenue. Thus, FGD has to book these numbers as borrowings in the financial report and as such also have to add an interest tag to it. Once FGD properly delivers the contracted product or service, those borrowings will be converted into revenue again in the books.

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