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Cypress-based digital media company Costas Inc. (OTC PINK: CSSI) has announced a new set of terms for Original Share Exchange Agreement with AuthentaTrade Inc., an Alberta-based digital currency exchange.
The initial agreement would have brought Costas 48% of the AuthentaTrade shares in exchange for 250,000 shares of Costas, however, that deal has been shelved and a new agreement has been made with AuthentaTrade Ltd. (a Republic of Seychelles corporation, “AuthentaTrade Seychelles”).
Considering the value added in AuthentaTrade Seychelles, Costas has negotiated an increase in shares used as consideration in the new agreement, which will see Costas secure 48% of the AuthentaTrade Seychelles in exchange for 4,000,000 shares of Costas. The share exchange is likely to happen within the next 30 days. AuthentaTrade Seychelles will additionally pay Costas US$200,000 as a debt owning. Details concerning the letter of intent will be released shortly.
Led by Gwyn Jones, AuthentaTrade Seychelles is developing technology to simplify digital currency transactions while addressing the security issues of the digital currency ecosystem. The management is fascinated by digital currencies and their ability to impact the global financial markets.
Among the services that the digital currency exchange will offer to its clients include Forex (both fiat currencies and digital currencies including Bitcoin) trading, banking, and international payment solutions.
AuthentaTrade sees strong growth potential in the European and Asian markets. In this regard, UK recently announced its ambitious plans of becoming the fintech leader in the world by 2020. The Company believes that the Asian market has a strong appetite for speculative trading on volatility, and has an insatiable desire to trade in the extremely volatile digital currency markets such as Bitcoin and Litecoin.
Yesterday, the business consulting services firm Global Equity International Inc. (OTCQB: GEQU) also announced a revised agreement with AuthentaTrade to assist with pre-IPO funding amounting to, but not limited to, US$32 million as well as a public listing of its shares on a recognized international stock exchange post pre-IPO funding.
