MoneyOnMobile, Inc. (OTCMKTS:MOMT) Files An 8-K Amendments to Articles of Incorporation or Bylaws; Change in Fiscal YearItem 5.03Amendments to Articles of Incorporation or Bylaws; Change in Fiscal Year.
On April 2, 2018, MoneyOnMobile, Inc., a Texas corporation (the “Company”), received notice that the majority holders of the Series F Convertible Preferred Stock (the “Series F Preferred”) amended the terms of the Series F Preferred such that on or after December 31, 2022, the Company shall have the right, at its sole discretion, and not the obligation, to redeem all of the then-outstanding shares of Series F Preferred at a redemption price per share equal to the $1,000 plus all accumulated but unpaid dividends, if any.
On April 3, 2018, the Company received notice that the majority holders of the Series G Convertible Preferred Stock (the “Series G Preferred”) amended the terms of the Series G Preferred such that on or after December 31, 2019, the Company shall have the right, at its sole discretion, and not the obligation, to redeem all of the then-outstanding shares of Series G Preferred at a redemption price per share equal to the $1,000 plus all accumulated but unpaid dividends, if any.
On April 5, 2018, the Company received notice that the majority holders of the Series H Convertible Preferred Stock (the “Series H Preferred”) amended the terms of the Series H Preferred such that the holders of Series H Preferred shall not be entitled to any right or option to require the Company to redeem any shares of Series H Preferred. In addition, the Company shall not be entitled to elect to redeem any shares of Series H Preferred.
The Company intends to file an amendment to each of the certificates of designation of Series F Preferred, Series G Preferred and Series H Preferred to reflect the amended terms.
About MoneyOnMobile, Inc. (OTCMKTS:MOMT)
MoneyOnMobile, Inc., formerly Calpian, Inc., is an early-stage company. The Company operates through the MoneyOnMobile segment, which is a mobile wallet service used to pay for goods and services from a mobile phone and to make other financial transactions. MoneyOnMobile allows consumers, to deposit funds into their mobile wallet or to perform a financial transaction through its agent network of approximately 313,541 retail locations as of April 30, 2016. Consumers use their mobile phones to make certain routine payments for utilities or to transfer currency to other consumers using text-messaging and mobile application technology. MoneyOnMobile offers electronic wallet services (M-wallet), similar to carrying a prepaid debit card, however using the consumer’s mobile phone. MoneyOnMobile has a multi-lingual application. By using this application, customers, through its agent network, can pay for goods and services and send money anytime and anywhere.