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Greenstone Capital Corp. Enters into Binding Merger Agreement with Comprehensive Healthcare Systems Inc.

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Calgary, Alberta–(Newsfile Corp. – December 9, 2020) –  Greenstone Capital Corp. (TSXV: GSGS.P) (the “Company” or “Greenstone“), a capital pool company (“CPC“) pursuant to Policy 2.4 of the TSX Venture Exchange (the “Exchange“), is pleased to announce that it has entered into a binding merger agreement and plan of reorganization dated December 7, 2020 (the “Merger Agreement“) with Comprehensive Healthcare Systems Inc. (“CHS“) and Greenstone Capital USA Inc., a wholly-owned subsidiary of the Company, in respect of a statutory merger under the Delaware General Corporation Law (the “Proposed Transaction“). The Proposed Transaction is intended to constitute the Company’s “Qualifying Transaction” (as such term is defined in Policy 2.4 of the Exchange) and would result in a reverse takeover of the Company by CHS.

As the Proposed Transaction is not a “Non-Arm’s Length Qualifying Transaction” (as such term is defined in Policy 2.4 of the Exchange) the approval of the shareholders of the Company is not required for the Proposed Transaction; however, certain ancillary matters described below will require the approval of shareholders of the Company, including the amendment to the Company’s articles to amend the rights and restrictions applicable to the Greenstone Shares (as defined herein) and to create a new class of restricted voting securities required to be created in connection with Proposed Transaction (the “Share Amendment“). A notice of meeting and information circular pertaining to such matters will be provided to holders of Greenstone Shares (the “Greenstone Shareholders“) in due course. It is currently anticipated that the meeting of Greenstone Shareholders will be held in the first quarter of 2021.

Upon completion of the Proposed Transaction, it is the intention of the parties that the Company (the Company after the Proposed Transaction being referred to herein as the “Resulting Issuer“) will continue to carry on the business of CHS, being that of a healthcare services company, and will be listed as a Tier 2 issuer on the Exchange.

Private Placement Offerings

In connection with the Proposed Transaction, CHS anticipates completing a brokered private placement offering (the “Brokered Concurrent Offering“) for aggregate gross proceeds of not less than CDN$2,000,000 (the “Minimum Brokered Concurrent Offering“). It is anticipated that the Brokered Concurrent Offering will be undertaken as a “commercially reasonable best efforts” private placement of not less than 6,666,667 subscription receipts of CHS (the “Subscription Receipts“) at a price of CDN$0.30 per Subscription Receipt (the “Offering Price“). Each Subscription Receipt would pursuant to its terms (without any action required from the holder thereof) be deemed exercised for units of CHS (the “CHS Subscription Receipt Units“) on a one-for-one basis immediately prior to the completion of the Proposed Transaction (the “Subscription Receipt Conversion“). Each CHS Subscription Receipt Unit shall be comprised of one share in the common stock of CHS (a “CHS Share“) and one-half of one CHS Share purchase warrant (each whole warrant, a “CHS SR Warrant“). Each CHS SR Warrant will entitle the holder thereof to purchase one CHS Share at a price of CDN$0.40. Subscription funds received in connection with the Brokered Concurrent Offering would be held in escrow pending closing of the Proposed Transaction and subject to the satisfaction of certain escrow release conditions, which shall include Exchange approval of the Proposed Transaction. If the Proposed Transaction does not close, such subscription funds would be returned to subscribers with pro rata interest in accordance with the terms of the subscription receipt agreement governing the Subscription Receipts.

In addition, CHS anticipates completing a non-brokered private placement offering (the “Convertible Debenture Offering” and together with the Brokered Concurrent Offering, the “Offerings“) of convertible debentures (the “Convertible Debentures“) for aggregate gross proceeds of up to CDN$2,000,000 (together with the Minimum Brokered Concurrent Offering, the “Minimum Offerings“). The Convertible Debentures will be issued on such terms and conditions as may be agreed to by the parties, but shall be convertible into units of CHS (each, a “CHS Convertible Debenture Unit“) comprised of one CHS Share and one-half of one CHS Share purchase warrant (each whole CHS Share purchase warrant, a “CHS CD Warrant“) at a conversion price equal to the Offering Price less a discount of 20%. Each CHS CD Warrant will entitle the holder thereof to purchase one CHS Share at a price of CDN$0.40 for a period of 24 months from the date of issue. The Convertible Debentures shall provide for the forced conversion of the Convertible Debentures into CHS Convertible Debenture Units immediately prior to the completion of the Proposed Transaction (the “Convertible Debenture Conversion“).

It is intended that the net proceeds of the Convertible Debenture Offering will be used for general and working capital requirements of CHS and the net proceeds of the Brokered Concurrent Offering will be used for general and working capital requirements of the Resulting Issuer.

Summary of the Qualifying Transaction

On or immediately prior to the completion of the Proposed Transaction, and subject to the applicable approvals: (i) the Company will change its name to “Comprehensive Healthcare Systems Inc.” or such other name as acceptable to CHS (the “Name Change“) and (ii) the Company will consolidate its common shares (each, a “Greenstone Share“) on the basis of one (1) post consolidation Greenstone Share for every 2.3548 pre-consolidation Greenstone Shares (the “Consolidation“).

On or immediately prior to the completion of the Proposed Transaction and subject to the applicable approvals: (i) CHS will split its common stock (each, a “CHS Share“) on the basis of 3,267.4107 post-split CHS Shares for every one (1) pre-split CHS Share (the “Split“), (ii) the Convertible Debenture Conversion shall have occurred, (iii) the Subscription Receipt Conversion shall have occurred, and (iv) the preferred stock of CHS shall have been converted into CHS Shares in accordance with the articles of CHS.

The Merger Agreement contemplates Greenstone and CHS undertaking a statutory merger under the Delaware General Corporation Law and all of the issued and outstanding post-Split securities of CHS will be exchanged for post-Consolidation securities of the Resulting Issuer on a one-to-one basis. Following completion of the Proposed Transaction, the current securityholders of CHS would own a majority of the issued and outstanding post-Consolidation common shares in the capital of the Resulting Issuer (the “Resulting Issuer Shares“) and CHS will become a wholly-owned subsidiary of the Resulting Issuer.

Upon completion of the Proposed Transaction (assuming completion of the Minimum Offerings), existing holders of Greenstone Shares are anticipated to hold, in the aggregate, 3,100,000 Resulting Issuer Shares representing approximately 3.87% of the outstanding Resulting Issuer Shares (3.28% on a fully diluted basis). Former security holders of CHS (excluding holders of Convertible Debentures are expected to hold, in the aggregate, 62,000,000 Resulting Issuer Shares, representing approximately 77.40% of the outstanding Resulting Issuer Shares (65.58% on a fully diluted basis) at a deemed price per share of CDN$0.30 (an aggregate deemed value of CHS of CDN$18.6 million). Investors under the Brokered Concurrent Offering will hold, in the aggregate, 6,666,667 Resulting Issuer Shares, representing approximately 8.32% of the outstanding Resulting Issuer Shares (7.05% on a fully diluted basis). Investors under the Convertible Debenture Offering will hold, in the aggregate, 8,333,333 Resulting Issuer Shares, representing approximately 10.40% of the outstanding Resulting Issuer Shares (8.81% on a fully diluted basis).

The completion of the Proposed Transaction is subject to the satisfaction of various conditions that are customary for a transaction of this nature, including but not limited to (i) the completion of the Brokered Concurrent Offering; (ii) the completion of the Consolidation, the Split, the Share Amendment and the Name Change; (iii) the approval by the directors and shareholders (if required) of Greenstone and CHS; and (iv) the receipt of all requisite regulatory, stock exchange, or governmental authorizations and consents, including the Exchange. Subject to satisfaction or waiver of the conditions precedent referred to herein and in the Merger Agreement, Greenstone and CHS anticipate the Proposed Transaction will be completed on or before February 26, 2021 but in any case no later than March 31, 2021. There can be no assurance that the Proposed Transaction will be completed on the terms proposed above or at all.

Other than adjustments required to reflect the Proposed Transaction exchange ratios, none of the terms of any outstanding securities of Greenstone would be amended and the Resulting Issuer will honour all of Greenstone’s existing obligations to issue securities, including, without limitation, the agent’s option issued in connection with Greenstone’s initial public offering and all outstanding stock options.

Each of Greenstone and CHS will bear their own costs in respect of the Proposed Transaction.

Sponsorship of the Qualifying Transaction

Sponsorship of a “Qualifying Transaction” of a CPC is required by the Exchange unless exempt therefrom in accordance with the Exchange’s policies. Given the size and nature of the Proposed Transaction, including the amount of the Offerings, Greenstone intends to apply for an exemption from the sponsorship requirements pursuant to the policies of the Exchange. If the exemption is not granted by the Exchange, then Greenstone would be required to engage a sponsor.

Trading Halt

At the Company’s request, trading in Greenstone’s Shares was halted by the Exchange on October 27, 2020. Trading is expected to remain halted until, at the earliest, the completion of the Proposed Transaction.

Resulting Issuer

Upon completion of the Proposed Transaction, it is anticipated that all of the existing directors and officers of Greenstone, other than Mo Fazil, will resign and the management and Board of Directors of the Resulting Issuer will include the persons identified below:

Dr. Hassan Mohaideen – Chairman, President, Chief Executive Officer and Director

Dr. Mohaideen formed Health Plan Systems (under the name Palm Lake Enterprises, Inc.) in 1988 and the first version of medical management software was released in 1990. Dr. Mohaideen has always been at the cutting-edge of managed health care and the evolving use of technology in health insurance. He formed one of the first Independent Practice Associations (IPAs) in the New York Metropolitan area and served as a member of the Board of Directors of Aetna Health Plans of New York for 11 years. Dr. Mohaideen currently serves as a consultant to several physician groups that contract with insurance companies. He previously served as a Senior Vice-President for Managed Care, of Brooklyn Hospital Center. He has held the position of Medical Director at several self-insured funds and provides consulting for funds on plan design and management. Dr. Mohaideen practiced Vascular Surgery for 28 years in Brooklyn, New York and is a member of the faculty of the State University of New York – Downstate Medical Center. He is a Fellow of the American College of Surgeons and a Fellow of the Royal College of Surgeons of Canada. Dr. Mohaideen holds an MD degree from Stanley Medical College, India and an MBA from Wagner College, New York, and is a Certified Physician Executive (CPE).

Vikas Ranjan – Director

Mr. Ranjan is a management professional with an MBA in Finance from McGill University, Montreal, Canada. His background includes over 25 years’ experience in diverse areas of finance, capital markets, entrepreneurship and investing. He is a co-founder of Gravitas Group of companies and his experience encompasses working in both Canada and India. Mr. Ranjan has been involved in launching several public and private enterprises in the areas of capital markets and growth investing. He currently serves on the boards of several public and private companies.

Mariam Cather – Chief Strategy Officer, Corporate Secretary and Director

Mariam Cather has worked in healthcare technology for the past 15 years. Her experience includes working for a hospital systems vendor and a management consulting firm. In her previous position she reported to the CIO and CMIO of the largest municipal healthcare system in the country (New York City Health and Hospitals Corporation), coordinating large scale clinical information systems acquisitions and projects for HHC’s 7 networks. Ms. Cather is proficient in HIPAA (both on the transaction and privacy side), and evaluating healthcare process flow in administrative, financial, and clinical areas with respect to the implementation of technology. She is an adjunct lecturer in clinical informatics at the New York University College of Nursing. She holds a B.A. from Cornell University and Masters in Health Policy & Management from the Harvard School of Public Health, as well as a Certificate in Health Information Technology from Columbia University. She is a certified HL7 CDA (Clinical Document Architecture) Specialist.

Amit Dutta – Director

Amit Dutta has spent the last 10 years as an entrepreneur with ventures in lifestyle services, consulting and specialty tea. He made the transition to venture capital in mid 2018 by joining Hunch Ventures who had earlier invested in his startups, Quintessentially Lifestyle Services India & Teamonk Global. He has over 21 years of experience with reputed corporates in Category Management, Marketing and Sales with P&L experience across a breadth of Product and Service categories leading large cross functional teams. He has played a key role in nurturing and building powerful Brands in India like American Express, GM-Chevrolet, Reliance Wireless & Quintessentially Lifestyle Services India.

Mohammad Fazil – Director

Mr. Fazil has been active in venture capital for 20 years. Mr. Fazil was the President and a Director of Bow Energy Ltd. (“Bow“), an international oil and gas company listed on the TSX Venture Exchange until March 2018, President, Chief Executive Officer and a Director of Harbour Star Capital Inc. (“Harbour Star“), a capital pool company listed on the Exchange until December 2018 and President and Director of Fulucai Productions Ltd. (“Fulucai“), an oil and gas company listed on the OTCBB until March 2018. Prior to Bow, Fulucai and Harbour Star he was employed by boutique investment dealers in Canada as a corporate finance professional focusing on raising funding junior listed issuers on the TSX and TSX Venture Exchange

Alex McAulay – Chief Financial Officer

Alex McAulay CPA, CA is an entrepreneur and experienced public company CFO and director. Mr. McAulay’s firm, ACM Management Inc., provides fractional CFO and regulatory guidance to assist public companies. Alex has served as the CFO of several listed companies and has assisted dozens of issuers in navigating the public markets.

New Incentive Stock Option Plan

Following completion of the Proposed Transaction, the Resulting Issuer is expected to implement a new incentive stock option plan, the terms and conditions of which will be implemented and determined by the board of directors of the Resulting Issuer.

About Comprehensive Healthcare Systems Inc.

Comprehensive Healthcare Systems Inc. is a corporation incorporated under the laws of the state of Delaware on April 1, 2015. CHS is a vertically integrated software as a services (SaaS) company focused on digitizing healthcare with Telehealth and Healthcare Benefits Administration solutions, providing reliable and high-volume transaction capable systems. The Company’s state of the art NPS Novus Healthcare Welfare and Benefits Administration (HWBA) SaaS platform is used by clients for all aspects of healthcare benefit administration (including insurance companies, hospitals, doctors and labor unions, through various corporation in which the majority shareholder has controlling ownership), providing healthcare administrative software, licensing and maintenance services.

CHS upcoming “Telehealth” user-facing app available on the web, iOS and Android will be fully integrated with the HPS NOVUS Platform. Any user, including the 600,000+ members currently using Novus can interact with doctors, clinics, and hospitals in the CHS network. The app will allow its users to connect to most major electronic medical records databases, payment gateways and billing systems. All the records on the app will be encrypted giving full control to its users.

Selected Financial Information

The following table sets out selected financial information of CHS for the periods, and as of the dates, indicated. The selected financial information has been derived from the combined audited financial statements for the years ended December 31, 2019 and December 31, 2018.

As at December 31, 2019 ($USD) As at December 31, 2018 ($USD)
Financial Position
Current Assets 1,226,822 1,221,222
Total Assets 2,707,407 3,523,846
Current Liabilities 4,244,473 3,884,151
Total Liabilities 4,727,945 5,265,555
Total Shareholder’s Deficiency (2,020,538) (1,741,709)
Year Ended December 31, 2019 ($USD) Year Ended December 31, 2018 ($USD)
Income Statement
Revenues 4,622,025 4,736,643
Gross Profit 2,733,311 2,695,708
Net Loss (237,798) (412,520)

 

About Greenstone Capital Corp.

Greenstone is a CPC that completed its initial public offering and obtained a listing on the Exchange in August 2019 (trading symbol: “GSGS.P”). Prior to entering into the Definitive Agreement, Greenstone did not carry on any active business activity other than reviewing potential transactions that would qualify as Greenstone’s Qualifying Transaction.

All information in this Press Release relating to CHS is the sole responsibility of CHS. Management of Greenstone has not independently reviewed this disclosure nor has Greenstone’s management hired any third party consultants or contractors to verify such information.

Cautionary Note

As noted above, completion of the Proposed Transaction is subject to a number of conditions including, without limitation, approval of the Exchange, approval of certain matters by the shareholders of CHS and Greenstone and completion of the Offerings. Where applicable, the Proposed Transaction cannot close until the required approvals have been obtained. There can be no assurance that the Proposed Transaction will be completed as proposed or at all.

Investors are cautioned that, except as disclosed in the continuous disclosure document containing full, true and plain disclosure regarding the Proposed Transaction, required to be filed with the securities regulatory authorities having jurisdiction over the affairs of the Company, any information released or received with respect to the Proposed Transaction may not be accurate or complete and should not be relied upon. The trading in the securities of Greenstone on the Exchange, if reinstated prior to completion of the Proposed Transaction, should be considered highly speculative.

ON BEHALF OF THE BOARD OF DIRECTORS:

Mo Fazil
President, Chief Executive Officer, Chief Financial Officer and Director
Email: [email protected]
Phone: (403) 613-7310

Disclaimer for Forward-Looking Information

This press release contains forward-looking statements and information that are based on the beliefs of management and reflect Greenstone’s current expectations. When used in this press release, the words “estimate”, “project”, “belief”, “anticipate”, “intend”, “expect”, “plan”, “predict”, “may” or “should” and the negative of these words or such variations thereon or comparable terminology are intended to identify forward-looking statements and information. The forward-looking statements and information in this press release include information relating to the business plans of Greenstone, CHS, and the Resulting Issuer, the Offerings and the Proposed Transaction (including Exchange approval and the closing of the Proposed Transaction). Such statements and information reflect the current view of Greenstone. Risks and uncertainties that may cause actual results to differ materially from those contemplated in those forward-looking statements and information.

By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements.

Such factors include, among others, the following risks:

  • there is no assurance that the Offerings will be completed or as to the actual offering price or gross proceeds to be raised in connection with the Offerings. In particular, the amount raised may be significantly less than the amounts anticipated as a result of, among other things, market conditions and investor behaviour;

  • there is no assurance that Greenstone and CHS will obtain all requisite approvals for the Proposed Transaction, including the approval of their respective shareholders (if required), or the approval of the Exchange (which may be conditional upon amendments to the terms of the Proposed Transaction);

  • following completion of the Proposed Transaction, the Resulting Issuer may require additional financing from time to time in order to continue its operations. Financing may not be available when needed or on terms and conditions acceptable to the Resulting Issuer;

  • new laws or regulations could adversely affect the Resulting Issuer’s business and results of operations; and

  • the stock markets have experienced volatility that often has been unrelated to the performance of companies. These fluctuations may adversely affect the price of the Resulting Issuer’s securities, regardless of its operating performance.

There are a number of important factors that could cause Greenstone’s actual results to differ materially from those indicated or implied by forward-looking statements and information. Such factors include, among others: currency fluctuations; limited business history of Greenstone; disruptions or changes in the credit or security markets; results of operation activities and development of projects; project cost overruns or unanticipated costs and expenses, fluctuations in commodity prices, general market and industry conditions and the impact of the COVID-19 pandemic.

Greenstone cautions that the foregoing list of material factors is not exhaustive. When relying on Greenstone’s forward-looking statements and information to make decisions, investors and others should carefully consider the foregoing factors and other uncertainties and potential events. Greenstone has assumed that the material factors referred to in the previous paragraph will not cause such forward-looking statements and information to differ materially from actual results or events. However, the list of these factors is not exhaustive and is subject to change and there can be no assurance that such assumptions will reflect the actual outcome of such items or factors.

THE FORWARD-LOOKING INFORMATION CONTAINED IN THIS PRESS RELEASE REPRESENTS THE EXPECTATIONS OF GREENSTONE AS OF THE DATE OF THIS PRESS RELEASE AND, ACCORDINGLY, IS SUBJECT TO CHANGE AFTER SUCH DATE. READERS SHOULD NOT PLACE UNDUE IMPORTANCE ON FORWARD-LOOKING INFORMATION AND SHOULD NOT RELY UPON THIS INFORMATION AS OF ANY OTHER DATE. WHILE GREENSTONE MAY ELECT TO, IT DOES NOT UNDERTAKE TO UPDATE THIS INFORMATION AT ANY PARTICULAR TIME EXCEPT AS REQUIRED IN ACCORDANCE WITH APPLICABLE LAWS.

This press release is not an offer of the securities for sale in the United States. The securities have not been registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an exemption from registration. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any state in which such offer, solicitation or sale would be unlawful.

Completion of the Proposed Transaction is subject to a number of conditions, including but not limited to, Exchange acceptance. There can be no assurance that the Proposed Transaction will be completed as proposed or at all.

Investors are cautioned that, except as disclosed in the filing statement to be prepared in connection with the Proposed Transaction, any information released or received with respect to the Proposed Transaction may not be accurate or complete and should not be relied upon. Trading in the securities of a capital pool company should be considered highly speculative.

The Exchange has in no way passed upon the merits of the Proposed Transaction and has neither approved nor disapproved the contents of this press release.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release.

// NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES //

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/69813

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Copper State Credit Union Takes One Platform Approach with Jack Henry

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Jack Henry™ (Nasdaq: JHKY) announced today that Copper State Credit Union will leverage the company’s single technology platform to boost internal efficiencies and improve experiences.

Copper State Credit Union formed in 2020 from the merger of Canyon State Credit Union and Deer Valley Credit Union. Following the merger, the credit union managed multiple products across several different technology providers. This prompted the team to reevaluate their strategy and select Jack Henry as their enterprise technology provider. Jack Henry’s open infrastructure will automate and streamline operations, as well as integrate and optimize offerings.

“Jack Henry’s single platform approach allows us to consolidate our existing relationships into one organization with the option to tap into a vast ecosystem of fintech services,” said Robb Scott, President/CEO of Copper State Credit Union. “This enables us to continue to be innovative in our markets while remaining committed to delivering an exceptional member experience.”

Copper State Credit Union understands the importance of providing a convenient and simple digital experience for members. Their new digital banking platform will give members a complete view of all their finances in a single place. Part of this experience will include the ability to open new accounts and debit cards, manage credit scores, and receive instant payments. And, modern fraud and financial crimes prevention and detection solutions will protect members’ data and monitor transactional behavior.

“Our all-in strategy with Jack Henry ensures our members receive the connected services and resources they need to achieve financial prosperity and empowerment,” Scott continued. “The relationship frees up our internal resources to focus on finding ways to improve the financial lives of member-families within our community.”

Shanon McLachlan, president of Credit Union Solutions at Jack Henry, commented, “The beauty of our technology is the optionality and flexibility. Credit unions can choose to be in all-in with us like Copper State Credit Union or start by investing in their technology future one step at a time. Regardless, we continue to provide the support and services they need to help their members succeed.”

The post Copper State Credit Union Takes One Platform Approach with Jack Henry appeared first on HIPTHER Alerts.

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Moomoo Wins “Best Stock Trading App” Award in 2024 FinTech Breakthrough Awards Program

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Moomoo Technologies Inc. today announced that FinTech Breakthrough recognized the company with its 2024 annual award of “Best Stock Trading App.”  Founded in 2018, moomoo is an investment and trading platform that empowers global investors with pro-grade, easy-to-use tools, data, and insights. With its sister brand, moomoo has over 21 million users globally and it provides users with the necessary information and technology to make more informed investment decisions.

As the FinTech sector becomes more crowded and companies struggle to stand out from the crowd with their products and services, the FinTech Breakthrough Awards help recognize and showcase FinTech innovators based on creativity, hard work, and technologies centered around their products, solutions, and services. Its committee selected winners based on their innovative performance, their impact on solving user needs and problems, and whether their ease of use management can scale at growth.

“We are thrilled to be recognized as the best stock trading app by FinTech Breakthrough as it supports our mission to provide all levels of investors with an intuitive and robust platform,” said Justin Zacks, Vice President of Strategies, Moomoo Technologies Inc.  “Backed by independent research, advanced technological development capabilities, and our unique digital-first business model, we want to level the playing field for retail investors. From powerful stock and option analysis tools to fully extended trading hours, moomoo serves both new and experienced traders.”

“Moomoos’ robust technologies help investors spot potential investment opportunities and make informed decisions. Investors at all levels are looking for in-depth data, market news and global insights,” said Steve Johansson, Managing Director, FinTech Breakthrough. “We want to recognize moomoo as ‘Best Stock Trading App!’ By striving to provide investors with the best online trading experiences possible, investors at any stage can make confident investment decisions backed by readily available data and insights.”

The post Moomoo Wins “Best Stock Trading App” Award in 2024 FinTech Breakthrough Awards Program appeared first on HIPTHER Alerts.

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Insights from Prague Gaming & TECH Summit 2024 Speakers (pre-event)

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As we approach the Prague Gaming & TECH Summit, we’ve connected with some of the event’s distinguished speakers to delve into the future of the gaming and tech industries. Their insights shed light on the shifting dynamics, underscoring the significance of adaptability, innovation, and strategic foresight.

We posed the following questions to our speakers:

  • What has been the most surprising or valuable lesson you’ve learned in your career within the gaming/tech sector?
  • Can you share a project or achievement in your career that you’re particularly proud of?
  • In your opinion, what are the biggest challenges facing the gaming and tech industries today?

Below, you’ll find a brief overview of their responses. For more in-depth insights, scroll down to read each speaker’s full reply.

#### Viktoria Soltesz: Mastering the Financial Game

Viktoria Soltesz, a pivotal figure in the payment solutions space, shared a crucial lesson from her career: the significance of a well-crafted payment plan. Through her work, Soltesz has observed the downfall of companies due to inadequate financial strategies, emphasizing that such pitfalls are easily avoidable with proper planning. Her recent book, “Moving Money – How Banks Think,” aims to demystify banking and payment processes for businesses, advocating for informed financial decision-making within the gaming and tech sectors.

#### Aleksandra Andrishak: The Power of Continuous Learning

Representing Slotsjudge, Editor in Chief Aleksandra Andrishak looks forward to delving into topics like iGaming and blockchain at the summit. Andrishak highlights the transformative work undertaken at Slotsjudge in 2023 and stresses the importance of perpetual learning in the fast-paced gaming industry. Her advice to newcomers is to embrace innovation and remain adaptable to stay ahead.

#### Jakub Tesar: Blockchain’s Expanding Horizon

Jakub Tesar predicts a promising future for blockchain technology, especially within the Ethereum ecosystem, and the rise of Web3. He envisions a world where gamers have greater control over virtual collectibles and in-game items, thanks to blockchain. Tesar anticipates GenAI revolutionizing game interactions and narratives, urging industry professionals to experiment with blockchain’s burgeoning use cases.

#### Kaspar Szymanski: Navigating SEO in the Gaming and Tech World

Kaspar Szymanski, with his rich background in Google Search, identifies the challenge of distinguishing brands in a saturated market. He argues for a focus on unique selling propositions and long-term growth strategies. At the summit, Szymanski aims to dispel SEO myths and offer actionable advice, emphasizing that SEO setbacks can lead to significant growth opportunities.

#### Jasmina Poglavc: Data-Driven Innovation in iGaming

Jazz underscores the impact of advanced data analytics and AI in enhancing the iGaming experience through personalized player engagement. She points out the challenges of data privacy and navigating the regulatory landscape, advocating for a shift towards more player-centric and responsible gaming practices.

These insights from our speakers highlight a common theme: the gaming and tech industries are at a critical juncture, facing challenges that span financial planning, regulatory navigation, and technological innovation. The Prague Gaming & TECH Summit stands as a pivotal platform for addressing these challenges, fostering dialogue, and paving the way for future advancements.

As we anticipate the rich discussions and networking opportunities at the summit, it’s clear that adaptability, continuous learning, and strategic planning are key to navigating the future of gaming and tech. Join us in Prague to explore these themes and more, shaping the trajectory of these dynamic industries.


Viktoria Soltesz – Founder at PSP Angels

What has been the most surprising or valuable lesson in your career within the gaming/tech sector?

In my career within the gaming/tech sector, one of the most valuable lessons I’ve learned is the importance of having a payment plan. While analyzing the financial and banking information of various companies, I noticed a recurring pattern: many companies that failed did so due to poor payment and banking practices. They often miscalculated risks, under-budgeted costs, or neglected to set up a proper payment plan. These errors in financial planning were common culprits behind their downfall. What surprised me the most was how easily these businesses could have avoided such failures with proper payment planning. It became evident that many businesses fail for avoidable reasons, and simply taking the time to understand and establish a payment plan can make a significant difference. By paying close attention to the flow of money and investing just a few hours in crafting a solid plan, a business can set itself on a path to success, outperforming much of its competition.

Can you tell us about a project or achievement in your career that you’re particularly proud of?

One of the achievements I’m particularly proud of in my career is the recent launch of my book, “Moving Money – How Banks Think,” which is now available on Amazon. This book is a valuable resource for businesses, emphasizing the often-overlooked importance of banking and payments in today’s competitive landscape. It provides insights into the intricacies of banking decisions, the history of payment systems, and practical guidance on managing funds more safely and cost-effectively. I’m excited to share this knowledge and help businesses make informed decisions in the realm of payments, especially those that are high-risk or startups.

What do you think are the biggest challenges facing the gaming and tech industries today?

In the gaming and tech industries today, one of the most significant challenges is undoubtedly related to payments. While these industries focus heavily on product development, market competition, and marketing strategies, the crucial aspect of payment planning often gets overlooked. This oversight can lead to businesses incurring unnecessary banking fees and facing unexpected operational risks. Understanding the complexities of banking and payment systems is crucial, yet it remains an area with limited knowledge for many in these sectors. Lack of knowledge in this domain can result in poor financial decision-making. As a payment expert, I have observed that addressing these payment-related challenges is essential for the long-term success and sustainability of businesses in the gaming and tech industries. By gaining a better understanding of how payments work and the reasoning behind banking decisions, these industries can navigate financial challenges more effectively and make informed choices, ultimately ensuring smoother operations and cost savings.

What are you most looking forward to at the Prague Gaming & TECH Summit?

I am greatly anticipating the upcoming Prague Gaming & TECH Summit for several compelling reasons. First and foremost, I’m excited about the high-quality content that will be presented during the event. It’s an excellent opportunity to gain valuable insights and knowledge about the gaming and tech industries.

Additionally, I’m looking forward to reconnecting with old acquaintances and making new connections. Networking is a fundamental aspect of such gatherings, allowing us to exchange ideas, share experiences, and forge new professional relationships.

Lastly, I’m eager to hear about the latest industry developments and gossip. Staying informed about the current trends and happenings within the gaming and tech sectors is essential for keeping a competitive edge in these dynamic industries.

Overall, the Prague Gaming & TECH Summit promises to be an enriching and engaging experience, offering valuable content, networking opportunities, and industry insights.


Aleksandra Andrishak – Editor in Chief at Slotsjudge

What are you most looking forward to at the Prague Gaming & TECH Summit?

The vegan catering! Jokes aside, Hipther events are renowned for their best-in-class networking, and I’m eagerly anticipating the opportunity to delve into topics such as iGaming, eSports, and Blockchain with top experts in the industry. This will mark my second collaboration on stage with Zoltan and the team, and I’m very much looking forward to it.

Can you tell us about a project or achievement in your career that you’re particularly proud of?

I’m honored to represent Slotsjudge at the Prague Gaming & TECH Summit 2024. I’m particularly proud of all the work we’ve accomplished with the team in 2023. This year, you can expect even more from us, including new features, a completely revamped website, and even more ways to have fun together with us if you’re a gaming enthusiast!

What advice would you give to someone starting their career in the gaming or tech industry?

Never stop learning. The gaming industry is one of those sectors where innovation occurs almost daily. To stay ahead of the curve, you cannot afford to become complacent. Continuously strive to expand your knowledge and skills. Good luck!


Jakub Tesar – Innovation, Digital & Emerging Tech Lead at EY

What are your top three predictions for the future of gaming and tech industries in the next five years?

  1. The Ethereum ecosystem will evolve into a hub for practical applications, driving large-scale enterprise adoption of blockchain technology.
  2. The growth of Web3 will empower users to have self-custody over virtual collectibles and in-game items, enabling the purchase of ‘phygital’ items that merge the physical and online worlds. This evolution will facilitate free trade on blockchain-powered marketplaces and allow brands to explore new monetization strategies for digital assets.
  3. Generative AI (GenAI) will revolutionize gaming experiences, enabling players to interact with non-player characters (NPCs) in more natural and dynamic ways, and experience storylines that adapt and evolve in real-time.

Can you share a recent innovation in the gaming/tech industry that excites you? What challenges do you think the industry needs to address? The integration of GenAI within gaming environments excites me the most. It offers unprecedented, natural-like interactions with GenAI-based NPCs and allows for fluid, dynamic storylines. However, the industry must navigate the ethical implications of AI, ensuring that these technologies are developed and used responsibly.

What has been the most surprising or valuable lesson in your career within the gaming/tech sector? In my career, the most valuable lesson has been the constant need for innovation and adaptability. The rapid pace at which technology evolves requires a perpetual learning mindset and the willingness to embrace change.

How do you see the role of AI and emerging technologies shaping the gaming and tech industries? AI and emerging technologies are set to fundamentally reshape the gaming and tech industries by introducing more immersive, interactive, and personalized experiences. These technologies will not only enhance gameplay but also offer new avenues for creativity and innovation within the sector.

What advice would you give to someone starting their career in the gaming or tech industry? Never stop learning. The gaming industry, in particular, is characterized by its rapid evolution and innovation. Staying informed and continually enhancing your skills is crucial to staying ahead in this competitive field.

What do you think are the biggest challenges facing the gaming and tech industries today? Addressing the ethical and societal implications of rapid technological advancement, including privacy concerns, data security, and the potential for misuse, remains a significant challenge.

How do you see regulations impacting the gaming and tech industries, and what changes would you like to see? Regulations need to strike a balance between fostering innovation and protecting consumers. I hope to see regulations evolve in a way that supports the ethical development of new technologies while ensuring they are accessible and beneficial to all.

What are you most looking forward to at the Prague Gaming & TECH Summit? I’m eagerly anticipating the opportunity to delve into the latest industry trends, connect with fellow professionals, and share insights on the evolving landscape of gaming and technology.

Is there a specific message or insight you hope attendees will take away from your session? I hope attendees recognize the enduring significance of blockchain technologies and are inspired to explore and experiment with their vast potential for innovative use cases.


Kaspar Szymanski – Founder of SearchBrothers

What do you think are the biggest challenges facing the gaming and tech industries today?

One of the primary challenges in an industry saturated with numerous market players offering similar web platforms and services is effectively defining and communicating a compelling unique selling proposition (USP). While brand building, prioritizing user experience, and optimizing website performance are essential, they are merely steps towards the ultimate goal of offering a service or product that isn’t readily available elsewhere. Moreover, developing a long-term strategy presents a significant challenge in an industry that tends to favor short-term success. The pressure of organizational and market demands often hinders decision-makers from adopting strategies focused on sustainable, gradual growth. This challenge is particularly evident in search engine optimization (SEO), where the goals of long-term growth and meeting immediate organizational needs must be aligned, as search engine algorithms prioritize actual ranking signals over organizational constraints.

What are you most looking forward to at the Prague Gaming & TECH Summit?

I am eager to share the unique insights into Google Search that I gained during my time working for Google, as well as my experiences as a consultant helping clients in competitive niches outperform their competitors. My presentation will include exciting real-life case studies, debunk several myths within the SEO industry, and provide attendees with actionable advice they can immediately apply. I am also looking forward to listening and learning from others, and eagerly anticipate addressing audience questions during the Q&A session following my presentation.

Is there a specific message or insight you hope attendees will take away from your session?

I want my audience to understand that Google penalties are not the end of the world and can be resolved. SEO setbacks, while initially unwelcome, can actually offer an opportunity for significant growth, potentially surpassing any previous rankings on Google Search. These moments can be a hidden blessing, revealing new paths to success. I invite anyone curious about the inner workings of Google Search, how it can benefit your website, and seeking genuine answers to their Google and SEO questions to join my session.


Jasmina Poglavc – Senior Product Manager at Gamanza Group AG & Freelance iGaming Consultant

Can you share a recent innovation in the gaming/tech industry that excites you, and what challenges do you think the industry needs to address?

My background in iGaming platforms and online operations has given me a unique perspective on the transformative potential of advanced data analytics and AI. These technologies promise significant changes, especially in real-time player engagement for iGaming platforms and operators. By analyzing player behavior, preferences, and patterns in real time, we can offer personalized promotions, customized gaming experiences, and targeted loyalty programs. This not only boosts player satisfaction but also optimizes revenue streams.

However, the full realization of these benefits faces challenges, primarily concerning data privacy and security. Protecting sensitive player information is paramount, and navigating the evolving regulatory landscape to align data-driven practices with compliance standards is equally crucial.

What has been the most surprising or valuable lesson in your career within the gaming/tech sector?

Adaptability has been the most valuable lesson in my career. The gaming and tech sectors are incredibly dynamic, with constant evolutions and innovations. Embracing change, remaining agile, and continuously seeking learning opportunities have been essential for navigating challenges and achieving success. Anticipating industry trends and staying informed about technological and regulatory developments are key to staying ahead.

What advice would you give to someone starting their career in the gaming or tech industry?

Stay curious and proactive. Embrace challenges as growth opportunities, keep up with industry trends, and cultivate a strong professional network. Innovation drives the gaming and tech industries, so developing a mindset that embraces change and fosters creativity is crucial.

What do you think are the biggest challenges facing the gaming and tech industries today?

The primary challenges include cybersecurity threats, talent acquisition and retention, and adapting to an evolving regulatory landscape. Balancing innovation with compliance is challenging, as regulations often lag behind technological advancements. A strategic, adaptive approach is essential for navigating these challenges, necessitating proactive engagement with regulators and an awareness of legal frameworks.

How do you see regulations impacting the gaming and tech industries, and what changes would you like to see?

The gaming industry, exemplified by the situation in Germany, faces challenges from overregulation, which can drive players toward unregulated, black-market operators. While regulations are crucial for ensuring fairness and consumer protection, too restrictive an environment can hinder the industry’s growth and inadvertently compromise player safety.

I advocate for regulations that evolve with technological advancements, are harmonized globally, and are developed in collaboration with industry stakeholders. This approach aims to balance consumer protection with innovation, ensuring a thriving, responsible gaming ecosystem.


Click here to register and unlock the door to endless possibilities at the Prague Gaming & TECH Summit. Your next big opportunity awaits!

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