MoneyOnMobile, Inc. (OTCMKTS:MOMT) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers

ME Staff 8-k
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MoneyOnMobile, Inc. (OTCMKTS:MOMT) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers

Item 5.02

Departure of Directors or Certain Officers; Election of
Directors; Appointment of Certain Officers; Compensatory
Arrangements of Certain Officers.
On April 6, 2017, the Board of Directors (the Board) of
MoneyOnMobile, Inc. (the Company) elected Senator Kay Bailey
Hutchison and Mr. Karl Power as a member of the Board in order to
fill the vacant position resulting from the resignation of Shashank
Joshi and the Boards resolution to increase the size of the Board
to five members.
In connection with Senator Hutchisons election as a member of the
Board, the Company agreed to issue Senator Hutchison a five year
warrant to purchase 200,000 shares of the Companys common stock at
an exercise price of $0.4699, the closing price of the Companys
common stock on April 5, 2017.
In connection with Mr. Powers election as a member of the Board,
the Company agreed to issue Senator Hutchison a five year warrant
to purchase 200,000 shares of the Companys common stock at an
exercise price of $0.4699, the closing price of the Companys common
stock on April 5, 2017.
Senator Hutchisons biographical information:
Kay Bailey Hutchison, age 73, has over 40 years of experience in
the public and private sectors. Currently, and from February 2013,
Senator Hutchison serves as Senior Counsel in Bracewell LLP’s
Dallas, Texas office. From 1993 to 2013, she served as a U.S.
Senator. She also served as the Ranking Member on the Senate
Committee on Commerce, Science and Transportation, as well as the
Appropriations Subcommittee for Commerce, Justice and Science. She
was the Chairman of the Military Construction Appropriations
Subcommittee and served on the Defense Appropriations Subcommittee.
Prior to her Senate service, Senator Hutchison was elected Texas
State Treasurer in 1990 and to the Texas House of Representatives
in 1972. She served in the Texas House until 1976 when she was
appointed by President Gerald Ford to serve as Vice-Chairman of the
National Transportation Safety Board. In addition to her political
career, Senator Hutchison is also a former bank executive,
journalist and small business owner. Senator Hutchison holds a
Bachelor of Arts degree from the University of Texas at Austin, and
a J.D. from the University of Texas School of Law.
Mr. Powers biographical information:
Karl Power, age 55. Since November 2015, Mr. Power has served as a
Director to the Board of Directors of Excel Corp. (OTCQB: EXCC).
Since August 2011, Mr. Power has been Chairman and CEO of Active In
Home Therapy, a health care services provider. Between 2001 and
2010, Mr. Power served in various management consultant roles to
companies in multiple industries, including in the technology
hardware industry, airline industry and online education. Mr. Power
has a Masters of Business from University College Dublin and a
Management Accountant qualification from the Institute of
Management Accountants in London.
Item 7.01 Regulation FD Disclosure
On April 10, 2017, the Company issued a press release regarding the
appointment of Senator Hutchison and Mr. Power to the Board. The
press release is attached hereto as Exhibit 99.1.
In accordance with General Instruction B.2 of Form 8-K, the
information and exhibits attached hereto in this Section 7.01 shall
not be deemed “filed” for the purposes of Section 18 of the
Securities Exchange Act of 1934, nor shall it be deemed
incorporated by reference in any filing.
Item 9.01 Financial Statements and Exhibits.
Exhibit No.
Description
99.1
Press Release issued April 10, 2017


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.

MoneyOnMobile, Inc. (OTCMKTS:MOMT) Recent Trading Information

MoneyOnMobile, Inc. (OTCMKTS:MOMT) closed its last trading session down -0.050 at 0.460 with 134,770 shares trading hands.