August 14, 2020 - TheNewswire - SQID Technologies Limited (CSE:SQID), (CNSX:SQID.CN), a leading technology platform that provides merchant services and the processing of credit card payments and direct debits on behalf of Australian e-commerce merchants and related businesses, is pleased to provide a trading update and to announce new arms-length investor relations and consulting agreements.
SQID provides a highly customizable payment-processing platform that seamlessly integrates retail and wholesale payment layers and provide Split Settlements between each layer. Split Settlements enables a single transaction to be simultaneously settled to both the referring merchant and the referred merchant's bank. This allows for say a franchisor to receive settlements in parallel to the franchisee allowing for commission structures and transaction based rewards to be settled at the same time the underlying transaction is settled. The model is applicable to affiliate marketing, rewards programs, franchises, marketplace apps, agencies, and also software companies running reseller programs. The use of Split Payment Settlement also helps optimize merchant sales and operations by providing valuable insights and transaction reports to merchants.
The total value of merchant payment transactions processed ("Trading Volume") using the SQID technology continue to show year on year growth. As previously reported July was 29% higher than the previous year and August is tracking 40% higher.
Unaudited transaction value data, up to and including August 12, 2020 is set out below.
August (to 12th)
"SQID over the past year has demonstrated consistent growth. These are exciting times at SQID and partnering with Agile and Gale Capital, which represents other emerging growth companies, will help us to more effectively communicate our evolving message to all SQID stakeholders as well as raise awareness of SDID with the investment community," stated Athan Lekkas, Chairman and Chief Executive Officer of SQID Technologies.
As part of the mission to create shareholder value, the Company has entered into an agreement with Agile Investor Relations Inc. and Gale Capital Corporation to advise, coordinate, and assist in the implementation of SQID's overall communications strategy with the capital markets and shareholders.
Agreement 1 -Agile Investor Relations Inc ("Agile")
Agile provides digital and traditional public company investor relations solutions to improve the quality and scope of shareholder communications, compliance, and investor awareness.
Agile will be responsible for arranging meetings with the North American financial community and will also manage shareholder and broker inquiries.
Agile has a four-month agreement; renewable upon mutual consent.
Agile will receive C$10,000 per month and 100,000 options with an exercise price of C$0.80 per Share with a 12-month term. The options are cancelled 30 days from Agreement termination and any shares issued on the exercise of the options will have a hold period of four months and one day.
Agreement 2 - Gale Capital Corporation ("Gale")
Founded in 1993, Gale Capital Corporation is a capital markets advisory that specializes in corporate consulting, mergers and acquisitions, capital raising, corporate governance, investor relations, corporate development and compliance service
Gale will provide introductions to potential North American based technology and merchant service partners, explore joint venture opportunities and provide general corporate development advice.
Gale has a three-month Agreement; renewable upon mutual consent.
Gale will receive C$10,000 per month and 100,000 options with an exercise price of C$0.80 per Share with a 12-month term. The options are cancelled 30 days from Agreement termination and any shares issued on the exercise of the options will have a hold period of four months and one day.
On behalf of the board of directors.
For further information please contact:
Chairman & CEO
T: +61 3 9820 6400
About SQID Technologies
SQID Technologies Limited [CSE: SQID] is a payment processor headquartered in Australia with proprietary software for online debit or credit card payments for both retail and wholesale transactions. It provides merchant services and transaction processing to business merchants and ecommerce customers across both 'Business to Business' (B2B) and 'Business to Consumer' (B2C) segments to bridge both retail and wholesale transactions through its platform. The SQID business has a proven model of delivering sustained profitability over time. Revenue growth has been achieved through strong growth from merchants in industries related to training and education. For more information on SQID, please visit https://sqidpayments.com.au/
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FORWARD LOOKING INFORMATION
Any forward-looking statements in this news release are not guarantees of future performance and involve known and unknown risks, uncertainties, assumptions and other important factors, many of which are beyond the control of the Company, its directors and management.
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