3PEA INTERNATIONAL, INC. (OTCBB:TPNL) Files An 8-K Unregistered Sales of Equity SecuritiesItem 3.02 Unregistered Sales of Equity Securities.
(a) On November 11, 2016 the company granted five million shares of common stock with the value of $787,950 to the Company’s Officers and Directors. The grants vest in equal amounts over a five year period at the end of each calendar quarter if the officer or director still is employed or serves as a director at that time. The shares will be issued to the exemption from registration to Section 4(a)(2) of the Securities Act of 1933.
Section 5 – Corporate Governance and Management
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
(e) On November 11, 2016 the company granted five million shares of common stock with the value of $787,950 to the Company’s Officers and Directors. The grants vest in equal amounts over a five year period at the end of each calendar quarter if the officer or director still is employed or serves as a director at that time.
About 3PEA INTERNATIONAL, INC. (OTCBB:TPNL)
3PEA International, Inc. is a payment solutions company providing prepaid card programs and processing services for corporate, consumer and government applications. The Company focuses on the evaluation of payment terminal software and hardware technology. It markets prepaid debit card solutions under its PaySign brand. The Company is engaged in the development of a secure payment gateway and hardware device, which utilizes encryption technology and secure key exchange to facilitate personal identification number (PIN) debit transactions over the Internet. Its products and services include The PaySign Brand; Incentive Rewards; Source Plasma Donor Payments; Pharmaceutical Market, which includes PaySign Co-Pay Assistance, and Buy and Bill, and other products, such as Survey Instant Rewards. Through its PaySign platform, it provides various services, including transaction processing, cardholder enrollment, value loading, cardholder account management, reporting and customer service. 3PEA INTERNATIONAL, INC. (OTCBB:TPNL) Recent Trading Information
3PEA INTERNATIONAL, INC. (OTCBB:TPNL) closed its last trading session up +0.120 at 0.370 with 59,891 shares trading hands.