Shell Update, OTC & Potential Partnership
We are moving forward, one step at a time. Read our company update below and find out what we were up to in October!
After many months of patience, the PlutusX team is excited to finally receive the audited financials for the shell from 2017 to date. The next step is to submit to the OTC and go through the formalities of the comment period, which is estimated to either take as early as 2 weeks or up to 8 weeks. Once the comment period will be satisfied, the team will gain approval, the shell will be current and tradable once more. After completion, we will continue with the ticker reveal through PR and IR campaigns. Finally, the team will embark on the next stage which is a name change in conjunction with a reverse split.
Ultimately, our goal is to uplist which means many items need to fall in place, smoothly, to make the uplisting process more strategic.
In addition to the ticker process finalization, the hedge funds in New York expressed interest in capital infusion through a Reg A offering.
We cannot and will refuse to answer any questions about the ticker. These timelines were given to us by 3rd parties and we are not capable of accelerating their processing protocols.
We are excited to move forward in this area of our business and can’t wait to reveal more details with everyone soon.
In the PlutusX team’s efforts to expedite the launch of banking services, we started the discussion with a Canadian bank that would allow us to launch a whole suite of financial services under their legal umbrella. The partnership is contingent on the ticker getting current, which is another reason for the team to complete the approval process as fast as possible. Once current, we will first launch our exchange which will also accept MAM clients and Forex traders in addition to the digital asset counter-parts. The launch would allow us to operate in up to 44 countries worldwide and after demonstrating our capacity for growth, the bank agreed to allow PlutusX to launch their banking services which will encompass chequing/hot wallet, savings/cold storage, and loans against the portfolio balanced with an LTV of 50%.
The team is finalizing terms so that the MOU can be made official. The name of the company will then be announced as well.
Read our October MAM Update here.
(Please do NOT make assumptions about our unannounced ticker but simply do your due diligence and use the information that’s available)
ANY QUESTIONS RELATING TO PRIVATE OR “INSIDER TRADING” WILL BE IMMEDIATELY DISREGARDED.
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