QPAGOS Comments On Recent Market Activity
MEXICO CITY, MEXICO -- (Marketwired) -- 03/15/17 -- QPAGOS Corp. (OTCQB: QPAG), a U.S.-based provider of digital payment services for cash-based and unbanked consumers in Mexico, wishes to make the following statements regarding certain recent promotional activity surrounding the Company's common stock of which it was made aware by OTC Markets on March 13, 2017.
The Company was unaware of the promotional activity until informed by OTC Markets, and is unaware of the full nature of the promotional activity, the extent of the email newsletters' dissemination, or the responsible parties.
The activities, as shared with Company by OTC Markets, were promotional newsletter emails encouraging investors to purchase the Company's common stock. This promotional activity coincided with higher than average trading volume and fluctuations in the Company's stock price.
After direct inquiry to officers and directors neither the Company, its officers and directors have, directly or indirectly, authorized or been involved in any way (including payment to a third-party) with the creation or distribution of promotional materials including these email newsletters; and that neither the Company's officers and directors sold or purchased shares of Common Stock of the Company within the last 30 days.
"The Company is not affiliated in any way with the authors of these promotional newsletter emails," commented Gaston Pereira, CEO.
The company does not engage third party providers to provide investor relations services, public relations services, marketing, or other related services including the promotion of the Company or its securities.
While the company has not issued shares at prices constituting a discount to the current market rate at the time of the issuance, it has issued the following convertible instruments: On December 28, 2016 note for $77,000, issued by Power Up Lending Group, Ltd. at a conversion discount of 42%; on January 27, 2017 note for $105,000 issued by Labrys Fund, LP at a conversion discount of 40%; on February 7, 2017 note for $200,000 issued by JSJ Investments, Inc. at a conversion discount of 40%; on February 21, 2017 note for $55,000 issued by Power Up Lending Group, Ltd. at a discount of 40%; and on March 13, 2017 a note for $100,000 issued by Vista Capital Group, LLC at a discount of 40%.
U.S. based QPAGOS delivers state-of-the-art digital payment services to consumers and service providers in Mexico where 60% of the adult population does not have a bank account and where over 80% of personal payments are made in cash. It operates a network of self-service kiosks and applications that provides more convenient payment alternatives for consumers and more efficient billing for service providers. www.qpagos.com
Released March 15, 2017