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AXIOLOGIX, INC. to enter the high-margin money remittance business ahead of schedule through agreement to acquire International Money Management, Inc.
AXIOLOGIX, INC. to enter the high-margin money remittance business ahead of schedule through agreement to acquire International Money Management, Inc..
About this update from Axiologix Inc
[{"type":"text","content":"\n\n\n\nAXIOLOGIX, INC. to enter the high-margin money remittance business ahead of schedule through agreement to acquire International Money Management, Inc.\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\nAXIOLOGIX, INC. to enter the high-margin money remittance business ahead of schedule through agreement to acquire International Money Management, Inc.\nPR Newswire\nATLANTA, July 2, 2014\n\n\n\nATLANTA, July 2, 2014 /PRNewswire/ -- Axiologix, Inc. (OTC Pinks: AXLX) announced today that it has entered into a letter of intent to acquire a majority stake in privately held International Money Management, Inc. (IMM) of Newport Beach, CA. in a stock for stock transaction. The transaction is subject to successful due diligence, definitive agreements and Axiologix securing new investment of a minimum of $2 million in funding to coincide with closing this transaction. The transaction is expected to close within the next 60 to 90 days.\n\nThe IMM UniBancard program currently accommodates cross-border remittances between customers in the United States and the Dominican Republic using its relationship with MetaBank in the U.S. and Banco Promerica in the Dominican Republic. According to the World Bank, US based individuals remitted $2.8 billion to the Dominican Republic in 2011, the latest available figures.\n\nVincent Browne, Axiologix Inc.'s CEO said, \"A core element of our growth strategy, and the logic behind our recent acquisition of iWorld Services and pending acquisition of iTeknik, is to offer money transfer and mobile wallet services to customers that most need them via existing sales channels in both emerging growth markets and now in the United States. Our vision is to transition to a higher margin business by combining our current offerings of mobile VoIP calling and top-up products with money transfer and remittance services such as IMM provides today.  The acquisition of IMM will accelerate our plans in this high value segment and start us on our way to becoming a global player in both online and cash-to-cash remittances.\"\n\nGil Figueroa, CEO of International...