Banking License, New Round of Funding & MAM Update
July was both an interesting and a hard month. We had to make drastic moves, learned our lesson, and it all marked the new beginning, which we are looking forward to. Check out what we were up to in July!
Our CEO, Angel Mondragon, started coordinating meetings for acquiring a banking license, which is the foundation for the PlutusX’s vision to reach maturity. The meetings will be held with the CEO of a state-chartered bank with the ambition to get a “sponsorship” which would effectively grant us the ability to start enrolling clients much sooner with less capital required. More on this will be discussed as it evolves.
New Round of Funding
The PlutusX team has engendered the funding process for their Reg A round. Once the public platform is approved by the OTC market the team is expected to receive close to $700,000 in funding. However, the team is still prospecting interested investors who wish to participate in this upcoming round of funding.
The use of funds will primarily be allocated towards relevant legal and licensing fees. A small portion will be used for developer costs and the rest will be discretionary money used for miscellaneous business costs along with marketing and advertising expenses.
To get a more detailed update about our MAM, please click the following link.
(Please do NOT make assumptions about this ticker but simply do your own due diligence and use the information that’s available)
ANY QUESTIONS RELATING TO PRIVATE OR “INSIDER TRADING” WILL BE IMMEDIATELY DISREGARDED.
To stay up-to-date with our progress, and to send us feedback or suggestions, join our community chat here.