MoneyOnMobile, Inc. (OTCMKTS:MOMT) Files An 8-K Entry into a Material Definitive AgreementItem 1.01Entry into Material Definitive Agreement.
Item 3.02Unregistered Sales of Equity Securities.
Between 2010 and 2015, MoneyOnMobile, Inc. (the “Company”) issued to certain investors (each, the “Investor”, and collectively, the “Investors”) various secured subordinated promissory notes (the “Notes”). On January 31, 2018, the Company entered into and closed a series of Securities Exchange Agreements (“Exchange Agreements”) with each of the Investors to exchange an aggregate outstanding principal amount under the Notes equal to $3,032,971 and aggregate accrued interest of $744,630 under the Notes. to the Exchange Agreement, the Company issued to the Investors an aggregate of 3,778 shares of the Company’s Series G Convertible Preferred Stock (“Series G Preferred). The rights and preferences of the Series G Preferred were described in in the Company’s Current Report on Form 8-K filed on December 22, 2017, which description is incorporated herein by reference to such Current Report and exhibits thereto. to the Exchange Agreement, the unpaid balance of $3,032,971 and accrued interests of $744,630 of the Notes were canceled.
None of the 3,778 shares of Series G Preferred are registered under the Securities Act, or the securities laws of any state, and they were issued or will be issued, as applicable, in reliance on the exemption from registration afforded by Section 3(a)(9) and 4(a)(2) of the Securities Act.
The foregoing descriptions of the Exchange Agreement does not purport to be complete and is qualified in its entirety by reference to the full texts of the Exchange Agreement, which is filed as Exhibit 10.1 to this Current Report on Form 8-K and are incorporated herein by reference.
Item 9.01Financial Statements and Exhibits.
(d)Exhibits.
The exhibits listed in the following Exhibit Index are filed as part of this Current Report on Form 8-K.
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Exhibit No. |
Description |
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10.1 |
Securities Exchange Agreement |
MoneyOnMobile, Inc. ExhibitEX-10.1 2 seriesgsecuritiesexchangea.htm EXHIBIT 10.1 SECURITIES EXCHANGE AGREEMENT Exhibit Exhibit 10.1SECURITIES EXCHANGE AGREEMENTTHIS SECURITIES EXCHANGE AGREEMENT (the “Agreement”) is dated as of ________,…To view the full exhibit click here
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.