Catch Up | 04/25/2023 |
Last month, we reported that GoLogiq, Inc. (“GoLogiq” or the “Company”) (OTC: GOLQ), a global provider of mobile fintech solutions for digital transformation and consumer data analytics, was “unstoppable” after several successful acquisitions. GoLogiq is still making major business moves, so here is an update on what the Company is up to lately.
Speaking of acquisitions, GoLogiq recently entered into a non-binding letter of intent to acquire 100% of Australian-based Shape Super Australia PTY LTD (“Shape”), a prominent manager and administrator of self-managed super funds (SMSFs). Should GoLogiq be successful in acquiring Shape, the services offered by the Company’s subsidiary, GENFI Financial Group will be expanded, enabling its accountants and advisors to take advantage of the specialist management and administration services offered by Shape. Additionally, the acquisition, if successful, will provide GoLogiq with a homogeneous approach to services offered, resulting in more optimal outcomes for clients. The transaction is expected to close in the second quarter of 2023.
GoLogiq also announced earlier this month that the Company has entered into a non-binding letter of intent to acquire 100% of Sydney-based Applied Positive Psychology Learning Institute (APPLI). APPLI is a global organization that helps people and organizations make positive and sustainable change in mental health and wellbeing through a diverse range of products and services. These include online and blended learning courses, strategic consulting, research and development services, and bespoke wellbeing programs for many industries, including the financial sector. This transaction is expected to close in the second quarter of 2023, as well.
GoLogiq prioritizes its shareholders and aims to keep them in the loop. Earlier this month, the Company provided an update to shareholders who received shares in GoLogiq as the result of GoLogiq’s spin off from Logiq, Inc. (LGIQ) last year and which are not currently eligible for restriction removal since the Company has not yet met all SEC requirements to permit such removal. GoLogiq interim CEO, Brent Suen, stated, “We very much appreciate the participation and support of all of our shareholders as we’ve worked diligently to add shareholder value over the past year. While Rule 144 technically provides the ability to remove the trading restriction, we recognize it does not guarantee liquidity nor a fair market value for the shares. These are among the important reasons we have taken a two-fold approach to deliver both shareholder value and create a path to more a liquid and favorable market for shareholders.” The Company believes that its acquisition of GammaRey in March has already been extremely beneficial to the shareholder value of GoLogiq and that the journey is only beginning.
Lastly, and most recently, GoLogiq appointed Mitchell Savage to the new position of Chief Marketing Officer. Mr. Savage is an industry veteran with more than 24 years of experience in marketing, sales, strategic planning, business development and operations. Along with being proficient at aligning teams to fulfill revenue and operational goals, he has also proven to be a successful entrepreneur and executive leader, having launched and led six startups of his own, several of which had significant M&A exits. GoLogiq is confident that Mr. Savage will provide great marketing insights and contributions to the company.
“We are confident that we’ve established a company with a solid foundation of assets, both financial and human, and with an exciting growth strategy to be executed over the next year and beyond. We anticipate a possible listing on NYSE American would bring many benefits to our shareholders, including a whole new world of investors and equity analysts discovering a business that we expect to materially increase financial assets and revenue under advisement or management. We believe this transformational journey has only just begun to unlock tremendous shareholder value.”
About GoLogiq, Inc.:
GoLogiq, Inc. provides mobile solutions for digital transformation and financial inclusion in Southeast Asia and emerging markets. Its software platforms include CreateApp, a mobile app development and publishing platform for small business; AtozGo, a hyper-local app-based delivery system for ordering and fulfillment needs of residential and office towers; and AtozPay, an eWallet for mobile top-up, e-commerce purchases, bill payment, and microfinance in Indonesia.
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