Legal, Technology & MAM Update
As the first half of the year is over, in which we were mostly focused on the MAM, we are looking forward to see what the second half is bringing. But before that, have a look at what we were up to in June!
If you have been following us for the last few months, you know the stress and patience that was required by our team as we persevered through the waiting process associated with legal approval. We are just about at the culmination of the patience period as we wait for the last 3 opinion letters required by the OTC before submitting again. The objective is to limit the comment back period as that process can take a lot longer and is entirely at the mercy of the OTC Market.
Each opinion letter will address a specific problem, once again, with the ambition to limit the comment-back period with the OTC. The letters will cover in detail:
- The financials
- Skull & Cross
We anticipate the letters to greatly reduce the time required during the commenting period with OTC as the main problems will individually be addressed by our attorney.
We are setting up a meeting with a bank owner in Wyoming to kick start our banking operations. More on the meeting and its outcome will be found in the July update.
Our UI partner revised their proposal and refined the requirements so that we can finalize the design component for our application.
The PlutusX team already started establishing the mobile-friendly version of the app so that both processes can be completed and fulfilled once the OTC bestows its approval.
The App will be mobile friendly, ready for beta testing in Q3 with limited functionality. We aim to provide financial tools that do not require legal approval for clients to use while we wait to attain the necessary licenses to roll out our primary services.
To get a more detailed update about MAM, please click the following link.
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