VANCOUVER, British Columbia,
April 24, 2019 /CNW/
-- NetCents Technology Inc. ("NetCents" or the
"Company") (CSE: NC) (Frankfurt: 26N) (OTCQB: NTTCF), is pleased to
issue a letter to shareholders from the CEO, Clayton Moore.
Dear Fellow Shareholders,
Today, I am pleased to provide you with our view on the
cryptocurrency sector which has seen a rebound as well as to
highlight a few of the key strategic successes that has enabled
NetCents to continue be a leader in the market.
Over the last few years, the cryptocurrency market has gone
through its ups and downs and some would say even profound changes.
In late 2017 and early 2018, investors and retail banks were
heavily investing into the crypto space and in many instances their
decisions were based on hype alone. The adoption of regulations in
the crypto sector and normal market maturation all worked in
concert to create a bear market and a prolonged "crypto
winter". No one predicted the cryptocurrency sector would go
through such a large correction nor as rapidly as it did.
We have consistently aligned ourselves with key people and
companies in the payment and crypto sectors while always
maintaining a Plan B in our back pocket. This approach has allowed
the Company to keep moving forward through some very
challenging times.
There is every indication the crypto winter is in indeed
thawing. Aside from the price appreciation of Bitcoin which has
rebounded from a low of approximately $3,200
USD in early December to where it is today hovering around
the $5,300 USD mark, the future for
crypto-currencies as a viable mainstream payment option looks very
promising. Amazon and PayPal are both now seriously looking at
accepting crypto currency and for either of these two entities to
do so, will greatly influence the overall acceptance and usage.
The questions which I am asked most often by investors,
shareholders and other stakeholders are in regard to share
structure, access to growth capital and revenues.
To date, the company has approximately 56 million shares issued
and outstanding on a fully diluted basis, which, when compared to
other participants in the crypto sector is often less than half.
Regarding the issuance of stock options, I would like to mention
that we seek to incentivize valued employees currently working hard
to bring success to NetCents, aligning their incentives with our
shareholders. It is precisely this structure and approach which
allows the company to raise capital quickly from key strategic
investors as needed, often within days.
The challenge which was before the Company was to introduce a
brand-new product into the marketplace, as well as a complete
overhaul of how payments are conducted and perceived. We are
validating the use of cryptocurrency by working with, not against
existing payment infrastructures and legacy platforms by embedding
our technology within the traditional payments space and
distribution channels with Independent Sales Organizations (ISO's),
payment gateways, Independent Software Vendors (ISV's), and
technology companies who work with merchants on a day-to-day basis
and who intimately understand the requirements.
We identified the quickest way to market and to mass adoption
was to have NetCents as the underlying technology that powers all
cryptocurrency transactions. We have purposefully aligned ourselves
with those payment partners who understand that cryptocurrency is
coming and want to integrate a crypto solution into their existing
processes and technology, so the transition from traditional
payments to cryptocurrency payments is as seamless as possible.
The company has never been an advocate or followed the "build
and they will come" approach to development which in the long run
will have a significant detrimental impact on share price and
dilution. Our focus is and always will be building and validating
our technology as measured against market adoption. With this phase
of development successfully completed, the company has transitioned
to a sales cycle in full force where the Company is working with
all of our partners to begin the merchant adoption phase.
We have successfully signed new merchants, increased transaction
volume, on-boarded new partners, and developed new key banking
relationships. To date, the Company has signed over 20 major ISO
and technology partner agreements. Through these long-term
contracts and technology integrations, we now have direct access to
millions of merchants, 1,000's of ISO's, millions of users, and a
sales force of 100's of sales agents actively selling NetCents to
their merchant and user bases.
We are launching our credit card program, one of our largest
projects to date and have been working diligently on the launch and
are excited to share more on that with everyone soon.
We are now poised to take the Company to the next level. We have
spent the last six weeks in New
York and San Francisco
meeting with potential strategic partners for this next big step as
well as meeting potential new board members who will be able to
open new doors for the company.
Choosing to work with a few select long-term cornerstone
investors on a consistent basis from the beginning has proven to be
the right approach. Dilution has been minimized and it has given
the Company the ability to overcome trying market conditions while
providing time to validate the system through some of the largest
ISO's, Processing, and Gateway companies in the world. The
integration and onboarding of merchants continues and the user base
has increased. This approach has provided us the time needed to
find the right strategic investors for our company, money that
understands the digital world, payment processing, and the real
transactional value of cryptocurrency.
Over the last twelve plus months the company focus has been on
the development of the processing platform with the objective being
to create a seamless and intuitive user experience for the buying,
selling and transacting with crypto-currencies. On the merchant
side, the goal was to create the necessary merchant access points
and distributions channels by developing API's, SAAS platforms and
working with a select few POS to imbed the Netcents software into
their terminals. With this process successfully completed the focus
for 2019/2020 will be to develop new sales channels, increase
merchant acquisition and retention, activate and increase partner
program, grow sales, transactions and sales to drive top line
revenue.
One thing is clear to us: the beginning of mass adoption of
cryptocurrency is now.
We are excited and encouraged by the opportunities ahead of us
and look forward to implementing our strategic plan, with the
support of our loyal shareholders.
Sincerely,
Clayton Moore, Founder &
CEO
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.
For more information, please visit the corporate website at
www.net-cents.com or contact Investor Relations at
investor@net-cents.com
On Behalf of the Board of Directors
NetCents Technology Inc.
"Clayton Moore"
Clayton Moore, CEO, Founder and
Director
NetCents Technology Inc.
1000 – 1021 West Hastings Street
Vancouver, BC, V6E 0C3
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.
For more information, please visit the corporate website at
www.net-cents.com or contact Investor Relations at
investor@net-cents.com
+1-604 676-5249
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SOURCE NetCents Technology Inc.
