The new auditor is already at work. Business development at pace
Vancouver, British Columbia–(Newsfile Corp. – May 17, 2022) – Lynx Global Digital Finance Corporation (CSE: LYNX) (OTC Pink: CNONF) (FSE: 3CT0) (“Lynx” or the “Company”) announced his new listener.
Lynx announces that it has received a Cease Trade Order (“CTO”) from the British Columbia Securities Commission for failure to file the following periodic disclosure documents (the “Annual Filings”) ) before the filing deadline of April 30, 2022.
The Company continues to operate normally without disruption and is working diligently and quickly with its new auditors to complete annual filings as soon as possible. The cause of the delay is not material to the Company or its business, and the Company is carrying on its business in the usual manner.
By way of explanation, Lynx management would like to communicate that the delay in the audit was caused by the lack of resources in the audit industry in British Columbia and in Canada as a whole. The company’s previous auditor resigned from Lynx very late in the process because he felt he lacked the resources to perform an audit in both the Philippines and the financial services industry. Other complications included the numerous acquisitions in foreign jurisdictions. After months of research and meeting with several auditing firms, we were very pleased to engage with Antares Professional Corporation, a company that has experience in both our business and has affiliate representation on our main markets, two factors that have been obstacles for others we have approached. .
The OTC will prohibit the trading by any person of any securities of the Company, including transactions in the common shares of the Company effected through the Canadian Securities Exchange. The Company expects the CTO to remain in place until the annual filings and all continuous disclosure requirements have been filed and the Company receives an order from the OSC revoking the CTO.
The Company anticipates that it will complete annual filings no later than July 15, 2022 and resume operations thereafter. After the default has been remedied within 90 days of the date of the OTC, the filing of the annual documents, including all other filings and certifications which will subsequently become due, constitutes the request for revocation of the OTC.
Business development
Despite these setbacks, management is pleased to report that its minority investment company, StyloPay, is making great strides in its business plan. StyloPay operates in the “Payments as a Service” space. Grandview Research recently estimated that this business segment is already a $6 billion market segment and is expected to grow at an annualized rate of 16.9% per year. [1]
This “division” of Lynx is now ready to:
Launching its new crypto-enabled payment-as-a-service platform that enables businesses to issue co-branded card programs tailored to their customers. The platform will now also allow:
- Issue USD and Crypto linked accounts to individuals and businesses anywhere in the world without the need for a US presence
- Create a Crypto Account under a Regulated Custody Provider
- Offer Crypto-Linked Cards for the US Market
Once commercially launched, users will be able to:
- Receive payments from anyone
- Send payments to anyone
- Spend Crypto with or Visa/Apple Pay/Google Pay card to buy anything.
For all of the above services, StyloPay offers a fully managed service. Customers can simply use the StyloPay API and connect to their existing system or create a new frontend for their users. The company is already integrating its first customers.
To learn more about StyloPay, please visit www.StyloPay.com.
About LYNX Digital Global Finance:
Lynx seeks to become a leader in financial technology solutions and services for large merchants, financial institutions and other B2B industry partners through integration with the Lynx digital payments platform. The Company’s payment solutions are based on a wide range of payment technologies and services. The company has targeted banking and fintech relationships in ASEAN and Oceania, a region with a population approaching 700 million, which can provide Lynx with a financial network hub to service and operate traditional financial infrastructure and global digital. By working with selected banking and/or EMI approved partners, the Company will be able to offer a digital payment platform with a full suite of payment solutions, which may include merchant acquiring solutions; issuance of cards; remittance of funds and currencies; and digital asset custody services, including digital wallet services. The Company seeks organic growth while seeking potential strategic acquisitions that can bring critical technology applications, additional services and revenue streams, and that can complement or enhance existing offerings and potentially increase or accelerate the path to future profitability . Although Lynx believes that there are significant near-term opportunities for the company’s strategic initiatives, there can be no assurance that the goals and objectives will be achieved or that these underlying efforts or agreements will produce positive or successful results. they are implemented.
For more information please contact:
world lynx
Email: info@lynxglobal.io
[1]https://www.grandviewresearch.com/industry-analysis/payment-as-a-service-market#:~:text=The%20global%20payment%20as%20a,16.9%25%20from%202020%20to%202027 .
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