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MarketScreener Homepage  >  Equities  >  CANADIAN NATIONAL STOCK EXCHANGE  >  NetCents Technology Inc.    NC   CA64112G1054

NETCENTS TECHNOLOGY INC.

(NC)
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NetCents Technology : Provides Update on NetCents Cryptocurrency Visa Card

10/26/2020 | 09:53am EST

NetCents Technology Inc. (CSE: NC) (FSE: 26N) (OTCQB: NTTCF) ('NetCents' or the 'Company'), a cryptocurrency payments company, is pleased to provide an update on the NetCents Cryptocurrency Credit Card.

To give additional background: on August 10, 2020, the Company announced that it joined the Visa Fintech Fast Track Program - for the rollout of a Crypto-Backed Visa Card. The Company has engaged with i2c Inc. ('i2c') to be the backend provider that links directly into the Visa network. 'NetCents sets itself apart in the field of true payments innovators who turn big ideas into reality,' said i2c EVP of Sales Kevin Fox, adding, 'We couldn't be more pleased to have them as partners and to play a role in helping them bring their product visions to life.' i2c, headquartered in Silicon Valley, has developed unique software that will accelerate NetCents' rollout of its Visa product. i2c is currently working with over 1,000 companies specialized in global payments and operates in over 200 Countries. 'i2c is providing technology to the biggest companies in the payments industry. They have developed thousands of software building blocks that can be configured to the many use cases we expect to have for our payment's ecosystem,' stated Clayton Moore, Founder and CEO of NetCents Technology. 'They are effectively - 'fast-tracking' our fast track with Visa. Our relationship with i2c will facilitate the rollout of our Visa Card from the North American market to the global market in a seamless manner.' i2c has identified NetCents to be part of their upcoming 'Visionary' Public Relations campaign that will help market NetCents to payments companies and merchants globally. It is expected that this process will take two weeks to complete. The Company is currently completing the work to receive Bank Compliance to issue a BIN number, which is required to launch the card. The Company is targeting a November 15 launch for its virtual card product. Unfortunately, if that deadline slips, Visa has an internally imposed blackout period preventing the issuance of cards during the holidays so that the next launch date will be January 15, 2021. At that time, NetCents will be positioned to issue both virtual and physical Visa Cards. In addition to the original card program functionality, NetCents is integrating Google Pay and Apple Pay to the program to allow users to add their NetCents Cryptocurrency Visa Card to their Google Pay and Apple Pay wallets, which will enable users to use the virtual card at retail locations. The Company has granted stock options for a total of two million common shares of the company to officers, directors, employees and consultants of the company. These stock options are exercisable at $0.98 per stock option and will expire onOctober 22, 2021. The stock options will vest immediately.

About NetCents

NetCents Technology Inc, the transactional hub for all cryptocurrency payments, equips forward-thinking businesses with the technology to seamlessly integrate cryptocurrency processing into their payment model without taking on the risk or volatility of the crypto market. NetCents Technology is registered as a Money Services Business (MSB) with FINTRAC.

Cautionary Note Regarding Forward-Looking Information

This release includes certain statements that may be deemed 'forward-looking statements'. All statements in this release, other than statements of historical facts, that address events or developments that the Company expects to occur, are forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words 'expects', 'plans', 'anticipates', 'believes', 'intends', 'estimates', 'projects', 'potential' and similar expressions, or that events or conditions 'will', 'would', 'may', 'could' or 'should' occur. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance, and actual results may differ materially from those in the forward-looking statements. Factors that could cause the actual results to differ materially from those in forward-looking statements include regulatory actions, market prices, and continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. Forward-looking statements are based on the beliefs, estimates, and opinions of the Company's management on the date the statements are made. Except as required by applicable securities laws, the Company undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change.

Contact:

Tel: 604 633-9967

(C) 2020 Electronic News Publishing, source ENP Newswire

Stocks mentioned in the article
ChangeLast1st jan.
APPLE INC. 3.08% 122.72 Delayed Quote.62.17%
NETCENTS TECHNOLOGY INC. 1.05% 0.96 Delayed Quote.300.00%
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Financials
Sales 2019 0,09 M 0,07 M 0,07 M
Net income 2019 -6,67 M -5,15 M -5,15 M
Net cash 2019 0,17 M 0,13 M 0,13 M
P/E ratio 2019 -2,39x
Yield 2019 -
Capitalization 86,6 M 66,9 M 67,0 M
EV / Sales 2018 405x
EV / Sales 2019 198x
Nbr of Employees -
Free-Float 100%
Chart NETCENTS TECHNOLOGY INC.
Duration : Period :
NetCents Technology Inc. Technical Analysis Chart | NC | CA64112G1054 | MarketScreener
Income Statement Evolution
Managers
NameTitle
Clayton Moore Chief Executive Officer & Non-Independent Director
Christopher P. Cherry Chief Financial Officer & Director
Mehdi Mehrtash Chief Technology Officer
Jennifer Lowther Director & Chief Revenue Officer
Pat Albright Senior Vice President-Strategic Development
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