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MoneyOnMobile Withdraws Proposed Secondary Offering to Protect Shareholder Interests
MoneyOnMobile Withdraws Proposed Secondary Offering to Protect Shareholder Interests.
About this update from Moneyonmobile, Inc
[{"type":"text","content":"\n\n\n\nMoneyOnMobile Withdraws Proposed Secondary Offering to Protect Shareholder Interests\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\nMoneyOnMobile Withdraws Proposed Secondary Offering to Protect Shareholder Interests\nPR Newswire\nDALLAS and MUMBAI, India, May 8, 2017\n\n\n\nDALLAS and MUMBAI, India, May 8, 2017 /PRNewswire/ -- MoneyOnMobile, Inc. (OTCQX: MOMT) announced today that due to current market conditions, it has requested withdrawal of its recently filed S-1 registration statement and planned secondary offering, because it does not plan to proceed with the offering of securities contemplated by the Registration Statement. The Registration Statement has never been declared effective by the Securities and Exchange Commission, and no securities have been sold pursuant to the Registration Statement. \n\n\n \n \n\n \n\"Enhancing shareholder value is our number one priority. Current market conditions are such that proceeding with a registered offering is not in the best interest of our shareholders,\" said Harold Montgomery, MoneyOnMobile CEO and Chairman.  \"We have successfully raised more than $45mm in equity and debt securities privately over the past few years. We have also added non-dilutive capital through lines of credit in India to drive growth.\"\n\nAbout MoneyOnMobile, Inc.\n\nMoneyOnMobile, Inc. is a global mobile payments technology and processing company offering mobile payment services through its Indian subsidiary. MoneyOnMobile enables Indian consumers to use mobile phones to pay for goods and services or transfer funds from one cell phone to another. It can be used as simple SMS text functionality or through the MoneyOnMobile application or internet site. MoneyOnMobile has more than 325,000 retail locations throughout India.\n\nSafe Harbor Statement\n\nThis release does not constitute an offer to sell or a solicitation of offers to buy any securities of any entity. This release contains certain forward-looking statements based on our current expectations, forecasts and assumptions that involve risks and uncertainties. Forward-look...