Fintech Select Continues to Reduce Balance Sheet Debt
January 22, 2018 (Source) — Fintech Select Ltd. (“Fintech Select” or the “Company”) (TSX-V:FTEC) is very pleased to announce that it has settled a legacy debt (“Debt”) and related statement of claim (“Claim”) that had been served upon the Company by the legacy service provider in 2014 for more than $1,000,000 plus interest and cost. While the precise terms of settlement are confidential, the settlement amount has already been paid in full, thereby retiring the Debt and, subject to procedural formalities, the Claim entirely.
Mohammad Abuleil, President and CEO of Fintech Select, issued the following comment, “We continue to make progress on strengthening our balance sheet by reducing debt as we move forward. This incremental reduction in debt, coupled with anticipated revenue streams from the Company’s POS Cryptocurrency disruptive solution, and from the Company’s legacy business units have firmly positioned the Company on the right track towards strong financial health.”
About Fintech Select Ltd.
Fintech Select is a provider of robust and disruptive Pre-Paid Card programs, mobile banking solutions and Cryptocurrency technologies. Fintech Select has enabled these core assets which operate through separate divisions to work together harmoniously to create a new and ubiquitous environment for consumers and businesses alike. Fintech select also operates an international call centre that provides fulfillment and customer service support to customers across all three platforms mentioned. Our mission is to provide customers with choice, convenience and cost-effective ways to facilitate traditional and crypto financial transactions.