Finally, Some Good News!! The Future Looks Much Brighter!!Things are starting to look much better for FGD.
The CEO and previous directors of the board are all gone.
The previous CEO stated: "Circumstances have forced me to make this decision…”.
What circumstances? Very interesting.
Then a new director, Mr. Froese, came on board.
He may call himself Jack or he may call himself John. (fyi; Jack is a nickname of John like Bob is to Robert).
Note: Bloomberg reports that FGD's new board member is “John Froese.”
It would then make sense that this is the same “John Froese” who is:
Head of Program & Partner Management Citi Fintech
New York, New York
And now a 2nd director has also come on board:
Anil Saxena who worked at Bell Media and “brings a wealth of telecommunications experience.”
So, old directors and CEO forced to leave and new directors have come on board. Perhaps there will be a new partnership or financing that we may hear about soon.
Don't confuse a trading halt with the assumption that the company and employees have just been sitting around doing nothing while waiting for stock trading to resume. Of course they have continued working in the background.
They have since hired a new Chief Revenue Officer who is a seasoned senior executive with over 20 years of active experience having recently served as Managing Director, Global Sales for one of the largest US based cross-border payments companies. He has a Master's degree in International Relations from Columbia University in New York. He worked for HSBC, American Express, Western Union and State Bank of India.
And now FGD has 2 new board members who will attract further qualified people.
Don’t forget the former directors, etc. who are still major shareholders of FGD:
MAJOR HOLDERS
Name Shares Held As Of Date
Peter Alan Lacey 17.57M 03/1/18
Kevin Price 11.99M 09/25/17
Ray Wieler 9.14M 01/2/18
Andre Itwaru 7.28M 9/25/17
Nayeem Saleem Alli 4.05M 02/16/18
Douglas A. Smith 1M 09/25/17
Naresh Singh 105K 09/25/17
I am sure that they are all very interested in seeing a positive outcome for FGD too.
FGD’s financial statements are all up to date.
Debt and encumbrances will be converted and there will probaly be new financing.
Don’t forget that fintech is a $2 Trillion industry.
Don’t forget that FGD already has an operating technology platform, customers and have formed partnerships with major companies.
Don’t forget that FGD already has 43 U.S. state licences making FGD "one of the most licensed companies in the USA."