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First Global Data Ltd (TSXV:FGD)

Summary

First Global Data Ltd. is a Toronto Stock Exchange listed fintech company based in Toronto, Canada. The company is focused on developing and commercializing mobile payment and cross border payment systems.

Market Overview

$0.38 (18.970%)
Vol 3,356,188.00
10 Days Avg Vol 1,083,000.11
3 Mo Avg Vol 614,856.56
52 Wk Lo/Hi $0.03 - $1.00
YTD Price Gain % 0%
12 Wks Moving Avg 0.494056
200 Days Moving Avg 0.495475
Market Cap 73,926,925

Company Background

First Global Data Corp. was founded in 2001 with a mission to evolve the payments space by providing “ubiquitous mobile payments“ ™ and electronic financial payment convenience to millions of people in emerging and developed markets worldwide.

Highlights

  • First Global's proprietary leading edge technology enables the convergence of compliant domestic and cross border payments, shopping and peer to peer payments, all from a mobile phone.
  • Our mobile payment platforms is designed to be compliant with regulatory guidelines. FGD holds non-bank financial services licenses in Canada, the USA, and other parts of the world and is audited by regulatory authorities on an annual basis.
  • First Global is currently working to penetrate the more than 100 million potential customers it has with its strategic partners worldwide.
  • The Company's objective is to connect all of the above deployments to become the world's first portable, interoperable mobile wallet solution.
  • First Global is also actively working to secure a strategic partner in Canada and has already taken steps toward a Canadian launch.
  • The company is a global leader in FINTECH innovation. FINTECH is one of the hottest spaces in technology today as consumers shift from bricks and mortar banking to more mobile banking and payments/remittances. Our goal is to capture this heat and exploit emerging opportunities. We are seeking to become a unicorn by building fundamental value and maximizing shareholder return.

Share Structure

First Global Data Limited
TSX-V:FGD and Frankfurt Stock Exchange: 1G5
   Share Structure
    Common Shares (approx) 197,000,000
    Fully Diluted Shares (approx) 335,000,000
   Share Trading Activity
    3 month average daily volume(shares) Approx 3,000,000
    52 week low/high ($/share) $0.015/$1.00
    Current Share Price (Date) $0.73
   Market Capitalization (I/O) $140,000,000
   Cash Balance $10,000,000

Other Information

Products/Technology Information

ONLINE AND MOBILE PAYMENTS - DIGITAL WALLET

Deploying its Platform to the Online and Mobile payment networks in various countries around the world with the following Wallet Core Features:
  • Establish the first Interoperable Global Wallet. All Wallet deploys will be connected though the Core Platform
  • Integrated Global Compliance engine
  • Globally Integrated payment features
  • Multi-Currency Wallet
  • E-Commerce and M-Commerce Marketplace
  • Global and Local Ecosystem
  • Tap and Pay
  • QR Pay
  • Integrated to the Financial Infrastructure
  • Cross Border Transactions
  • Loyalty and Rewards
  • Integrated Merchant Module that gives Cash back and converts cash to points and points to dollars.

STRATEGIC DIFFERENTIATORS

FGD has significant strategic differentiators to our competitors. These include:
  1. Money Service Business ("MSB") licenses
  2. Systems designed to screen for and comply with regulations and prevent Money Laundering and Terrorist Financing
  3. MSB licenses required now even domestically in certain countries to facilitate payments
  4. Ability to move monies and facilitate payments domestically and internationally - FGD provides these services today
  5. Leading edge proprietary mobile payments service deployed with banks
  6. Not-credit card dependent. Most competitors such as Apple, Visa and Mastercard, and Samsung solutions require bank accounts and/or credit cards
  7. Multiple ways to load monies to wallet which enable banked, unbanked and underserved clients to use services
  8. Facilitate international money transfers from mobile phone in strict compliance to regulations - FGD provides international money transfer services today
  9. Portable multi-currency mobile wallet
  10. Shop and spend as you travel from country to country.
  11. Load funds from anywhere
  12. Hold funds in multiple currencies on wallet
  13. Transfer funds from currency to currency on mobile wallet
  14. White label, partnering, and revenue share strategy with key partners to enable rapid global deployment and high margin revenues
Our strategic differentiators have been attracting banks, telecom companies and other strategic partnerships.   The company believes that its strategic differentiators will enable it to achieve its revenue, profit, and other corporate objectives.  

Management Profiles

Andre Itwaru

Chairman, President and CEO

Andre has more than 25 years of experience in the technology, telecommunications and financial services industries. He has held senior management and executive level positions at large global organizations, and small to medium sized businesses, including a successful internet based payment processing company, where Andre served as the company’s President and Chairman of the Board of Directors; an organization focused on providing ESL training certification to teachers around the globe, as President and Chairman of the Board; a technology solutions service provider focused on the medium sized business market, which he successfully lead as President and Member of the Board of Directors; a call center outsourcing organization, as V.P. of Operations, where he successfully lead the outsourcing of Sprint Canada’s residential call center services; AT&T Solutions, the outsourcing , professional services and Network Management division of AT&T Corp., where he was responsible for Business Life Cycle and Global Service Delivery for large strategic international clients. Andre also held a number of senior management level positions at Sprint Canada and AT&T Canada Corp. Andre has extensive experience building a company from start-up, successfully raising capital, to driving millions of dollars in profitable revenue. He has lead the acquisition and integration of companies, has brought new and innovative products to the market, built national and international sales teams, formulated advertising budgets & campaigns and ran operations for one of the world’s largest telecommunications companies.

Nayeem Alli

Chief Strategy Officer

Mr. Alli has also held senior management positions in large global, and smaller start-up organizations. Prior to First Global, Mr. Alli founded and successfully led into profitability Caribbean Parts Inc., an organization focused on providing automotive parts from sources in Asia to distribution points in North and South America, including Guyana. Mr. spent 14 years working with various business units of AT&T and his most recent position, Mr. Alli served as Director, Corporate Planning and Business Analysis and Director, Financial Planning and Modeling for AT&T Canada Corp. where he was responsible for developing annual financial plans and contributing to the company’s overall strategic direction and was responsible for a $1.6 Billion budget. Prior to that, Mr. Alli was Associate Director, Decision Support, a CFO function within AT&T Canada Enterprises. Mr. Alli served as CFO for AT&T Global Network Systems (AGNS) in Canada for a number of years. Mr. Alli was also responsible for developing the Strategic Plan across the Communications Value Chain for AT&T Canada Enterprises. Mr. Alli also held a number of other senior management level positions within AT&T Canada and at NCR Corporation.

Bobita Ram, CAMS

Director, Executive Vice President and General Manager

Bobita is a Certified Anti-Money Laundering Specialist (CAMS) and was appointed General Manager of FGMI in December, 2013. As the General Manager, Bobita is responsible for the overall management of the daily operations of First Global Money. Bobita has over 15 years experience in the International Money Remittance industry, including the role of Compliance Officer, having worked in senior positions at registered Money Services organizations. Bobita is integrally involved in the day-to-day management of the operations and reports daily to the Chairman and CEO.

Noemi Pesina, CAMS

Compliance Officer

Noemi is a Certified Anti-Money Laundering Specialist (CAMS) and was appointed Compliance Officer of First Global on December 05, 2011. As the Compliance Officer Mrs. Pesina is responsible for the overall management of the daily operation and monitoring of First Global’s BSA/AML/OFAC and KYC Compliance programs to ensure that First Global complies with all Federal, State and Local laws/regulations relating to a Money Service Business, specifically a Money Transmitter. Noemi has over 9 years of experience in the Money Remittances Industry and utilizes her broad based knowledge of current anti-money laundering regulations, policies and reporting requirements per the Bank Secrecy Act and USA PATRIOT Act to enhance First Global’s compliance program to meet regulatory requirements.

Philip Zhengquan Chen

Advisory Board Member

Philip Zhengquan Chen is Managing Partner and Founder of Dynaco Capital Inc., a financial advisory firm based in Toronto and associated with numerous Chinese Hedge Funds and multi Billion dollar Chinese enterprises. Philip works on transactions between Chinese SOEs and TSX/V listed companies. Current specialization is geared toward but not limited to E-commerce and Fintech companies. Prior to founding Dynaco, he was a senior associate of an international private investment bank, from February 1998 to June 2005, where he has been directly involved in numerous financial advisory assignments in a variety of sectors which included the acquisition of three respective electric power companies in China worth US$150 million in 1998 and 1999, through a subsidiary of a New York Stock Exchange listed utility company. Prior to that Mr. Chen served as the Executive Vice President of a subsidiary of a China Conglomerate in New York from March 1996 to July 1997. Philip used to work as a director for a government agency in Shanghai, China in public policy making and public facilities planning from 1992 to 1996. Philip is a director of WRSA Entrepreneurs Alliance, WRSA (Western Returned Scholar Association) was established in 1913 in Beijing, China which has been an important think tank to Chinese Central Government since 1980s. Thanks to this position Philip has developed close relations with some powerful supervisory agencies and well known companies in China. Philip is also a director of CCBCC (Canada China Business Communication Council) and member of CCBC (Canada China Business Council) both based in Toronto, Canada.