OTCQB:XTMIF

XTM Provides Update on Status of Financial Statements

Retrieved on: 
Friday, May 31, 2024
Apps, Applications, Technology, Mobile, Wireless, Payments, Finance, Fintech, Banking, Professional Services, Software, Corporation, XTM, Ontario Securities Commission, OSC, Bank statement, PAID, Audit

XTM Inc. ("XTM" or the "Corporation") (QB: XTMIF / CSE: PAID / FSE: 7XT) is providing an update to its previously announced management cease trade order (the "MCTO") granted by the Ontario Securities Commission (the “OSC”) under National Policy 12-203 - Management Cease Trade Orders ("NP 12-203").

Key Points: 
  • XTM Inc. ("XTM" or the "Corporation") (QB: XTMIF / CSE: PAID / FSE: 7XT) is providing an update to its previously announced management cease trade order (the "MCTO") granted by the Ontario Securities Commission (the “OSC”) under National Policy 12-203 - Management Cease Trade Orders ("NP 12-203").
  • The MCTO does not affect the ability of other shareholders to trade their securities.
  • The Corporation has not yet filed the Required Documents, however XTM is working diligently with its auditors and expects that the Required Documents will be filed as soon as possible.
  • As previously reported, the delay is related to audit procedures and a quality review to support reliance on third party service organizations.

XTM Provides Update on Status of Financial Statements

Retrieved on: 
Wednesday, May 15, 2024
Software, Internet, Payments, Banking, Professional Services, Technology, Fintech, Mobile, Wireless, Corporation, XTM, Ontario Securities Commission, OSC, Bank statement, PAID, Audit

XTM Inc. ("XTM" or the "Corporation") (QB: XTMIF / CSE: PAID / FSE: 7XT) is providing an update to its previously announced management cease trade order (the "MCTO") granted by the Ontario Securities Commission (the “OSC”) under National Policy 12-203 - Management Cease Trade Orders ("NP 12-203").

Key Points: 
  • XTM Inc. ("XTM" or the "Corporation") (QB: XTMIF / CSE: PAID / FSE: 7XT) is providing an update to its previously announced management cease trade order (the "MCTO") granted by the Ontario Securities Commission (the “OSC”) under National Policy 12-203 - Management Cease Trade Orders ("NP 12-203").
  • The MCTO does not affect the ability of other shareholders to trade their securities.
  • The Corporation has not yet filed the Required Documents, however XTM is working diligently with its auditors and expects that the Required Documents will be filed as soon as possible.
  • As previously reported, the delay is related to audit procedures and a quality review to support reliance on third party service organizations.

XTM Announces Receipt of MCTO

Retrieved on: 
Wednesday, May 1, 2024
Technology, Mobile, Wireless, Payments, Finance, Fintech, Banking, Professional Services, Software, Internet, PAID, OSC, Corporation, News, National Policy, Issuer, XTM, Ontario Securities Commission, Fortnight, Bank statement, Security (finance)

The MCTO restricts trading in securities of the Corporation by management of the Corporation until such time as the Issuer Statements have been filed by the Corporation and the MCTO is no longer in effect.

Key Points: 
  • The MCTO restricts trading in securities of the Corporation by management of the Corporation until such time as the Issuer Statements have been filed by the Corporation and the MCTO is no longer in effect.
  • The MCTO does not affect the ability of shareholders who are not insiders of the Company to trade their securities of the Company.
  • As previously announced, the Corporation applied for the MCTO due to a delay related to audit procedures and quality review to support reliance on third party service organizations XTM, and has now determined that it will not be able to the file Issuer Statements on time.
  • On April 30, 2024, the OSC, as the Corporation's principal regulator, granted the Corporation's application for the MCTO.

XTM Announces Delay in Its Annual Filings

Retrieved on: 
Tuesday, April 23, 2024
Fintech, Professional Services, Finance, PAID, Corporation, News, National Policy, Issuer, XTM, Bank statement, Person, Audit

XTM Inc. (“XTM” or the “Corporation”) (QB: XTMIF / CSE:PAID / FSE:7XT) announced today that due to a delay related to audit procedures and quality review to support reliance on third party service organizations XTM may not be in a position to file its audited annual financial statements (the “Issuer Statements”), management’s discussion and analysis and related certifications for the financial year ended December 31, 2023 on or before May 1, 2024, as required.

Key Points: 
  • XTM Inc. (“XTM” or the “Corporation”) (QB: XTMIF / CSE:PAID / FSE:7XT) announced today that due to a delay related to audit procedures and quality review to support reliance on third party service organizations XTM may not be in a position to file its audited annual financial statements (the “Issuer Statements”), management’s discussion and analysis and related certifications for the financial year ended December 31, 2023 on or before May 1, 2024, as required.
  • The delay in the Annual Filings is outside of XTM’s control and due solely to the quality review to support reliance on third party service organizations.
  • The Corporation’s finance and accounting teams are working diligently with its auditors, and the Corporation expects to have the audit of the Issuer Statements completed, and the Issuer Statements filed, no later than May 31, 2024.
  • The Corporation is not subject to any insolvency proceedings nor is there in other material information concerning the affairs of the Corporation that has not been generally disclosed.

XTM Launches AnyDay™ EWA for Fortune 15 Employer

Retrieved on: 
Tuesday, February 27, 2024
Finance, Business, Professional Services, Fintech, Human Resources, Acquisition, SAP, PAID, XTM, HR, Payroll, Movement, Era

XTM, Inc. (“XTM” or the “Company”) (QB: XTMIF / CSE:PAID / FSE:7XT), a Miami and Toronto, Denver and London-based Fintech creator of certified Earned Wage Access (EWA) through its QRails AnyDay™ product and fully integrated processor, is pleased to announce it has commercially launched AnyDay™, its SAP-certified and fully-compliant Earned Wage Access solution, for a Fortune 15 Employer.

Key Points: 
  • XTM, Inc. (“XTM” or the “Company”) (QB: XTMIF / CSE:PAID / FSE:7XT), a Miami and Toronto, Denver and London-based Fintech creator of certified Earned Wage Access (EWA) through its QRails AnyDay™ product and fully integrated processor, is pleased to announce it has commercially launched AnyDay™, its SAP-certified and fully-compliant Earned Wage Access solution, for a Fortune 15 Employer.
  • “Our recently announced financing empowers us to launch the first of many significant AnyDay EWA deals,” said Marilyn Schaffer, XTM, CEO.
  • “We are focused on execution, positioning us to support the massive demand for EWA, globally.”
    Through the QRails acquisition, XTM became the first vertically integrated, fully SAP-certified provider of on-demand pay, a game-changer for employers who want to offer impactful, retention-focused benefits to their employees at scale.
  • Millions of workers across North America have access to their earned wages, on-demand, any day during their pay cycle.

XTM Announces Completion of Oversubscribed Non-Brokered Secured Convertible Debenture Offering for US $11Million

Retrieved on: 
Saturday, February 24, 2024
Fintech, Professional Services, Finance, Trigger, Insider, Debenture, News, XTM, Warrant, Indian stock exchange, QB, Minority, Offering, Security (finance)

The secured convertible debentures will bear interest at the rate of 12.0% per annum from the date of issuance, calculated and payable quarterly beginning on September 30, 2024.

Key Points: 
  • The secured convertible debentures will bear interest at the rate of 12.0% per annum from the date of issuance, calculated and payable quarterly beginning on September 30, 2024.
  • “We are poised and ready to take on the reported 75% of US workers who want same day pay,” said Marilyn Schaffer, XTM, CEO.
  • In connection with the Offering, XTM paid a further cash finder’s fee in the amount of US400,000 to a finder (the “Finder”).
  • The securities issued in connection with the Offering are subject to a statutory hold period of four months and one day from the date of issuance.

XTM Announces Initial Tranche Closing of Previously Announced Non-Brokered Private Placement of Convertible Debentures

Retrieved on: 
Tuesday, February 6, 2024
Fintech, Professional Services, Finance, Trigger, Indian stock exchange, Offering, Warrant, QB, Initial, XTM, Security (finance)

The initial tranche of the Offering that closed consisted of 3,842 Debentures for gross proceeds of US$3,842,545 (C$5,201,884) from existing shareholders.

Key Points: 
  • The initial tranche of the Offering that closed consisted of 3,842 Debentures for gross proceeds of US$3,842,545 (C$5,201,884) from existing shareholders.
  • Each Debenture shall be convertible at the option of the holder thereof into units (“Units”) of the Company at a price of US$0.11 per Unit.
  • XTM also issued to the finders an aggregate of 98,560 share purchase warrants (the “Finders’ Warrants”).
  • The closing of this Offering is anticipated to close on or about February 8, 2024, or such other date or dates that the Company may determine (the “Closing”).

XTM Inc. Provides Further Disclosure on Licensing Agreement

Retrieved on: 
Wednesday, January 24, 2024
Finance, Payments, Professional Services, Technology, Fintech, Customer, API, PAID, CIRO, News, License, XTM, Video game

XTM, Inc. (“XTM” or the “Company”) (QB: XTMIF / CSE:PAID / FSE:7XT), a Miami and Toronto, Denver and London-based Fintech creator of payment innovations including fully certified Earned Wage Access (“EWA”) through its QRails AnyDay™ product, further to its news release of January 19, 2024 that the Company entered into a USD$3,000,000 licensing agreement on January 19, 2024 (the “Licensing Agreement”) to provide EWA processing for a U.S. entity (the “Customer”), is providing further context to its Licensing Agreement at the request of CIRO.

Key Points: 
  • XTM, Inc. (“XTM” or the “Company”) (QB: XTMIF / CSE:PAID / FSE:7XT), a Miami and Toronto, Denver and London-based Fintech creator of payment innovations including fully certified Earned Wage Access (“EWA”) through its QRails AnyDay™ product, further to its news release of January 19, 2024 that the Company entered into a USD$3,000,000 licensing agreement on January 19, 2024 (the “Licensing Agreement”) to provide EWA processing for a U.S. entity (the “Customer”), is providing further context to its Licensing Agreement at the request of CIRO.
  • As part of this License, the Customer may use the XTM Processing Platform for processing and/or may operate the Processing Platform independently.
  • The Customer shall be responsible for all program management services and banking relationships.
  • The scope and value of such services shall be agreed upon by the parties at the time of the Customer’s request.

XTM Inc. Receives Strategic Investment and Signs Licensing Agreement

Retrieved on: 
Friday, January 19, 2024
Fintech, Professional Services, Finance, Human resource management, Earned wage access, Offering, USD, PAID, News, Debenture, Security (finance)

The Company also announced that it has signed a $3,000,000.00 USD licensing agreement for Earned Wage Access (“EWA”) from a US entity (“the Customer”) to provide processing for a U.S. Banking as a Service provider.

Key Points: 
  • The Company also announced that it has signed a $3,000,000.00 USD licensing agreement for Earned Wage Access (“EWA”) from a US entity (“the Customer”) to provide processing for a U.S. Banking as a Service provider.
  • On closing, proceeds of the Debenture Financing combined with the Licensing Agreement the Company will meet the covenants required to access the EWA lending facility.
  • The operational funding also opens the way for the Company to fully roll-out its contracted EWA business to employees through its Distributor Agreements.
  • There can be no assurance as to whether or when the proposed Offering may be completed, or as to the actual size or specific terms of the Offering.

XTM Rolls Out Certified Earned Wage Access in Canada and US – First Vertically Integrated Solution – Free to Employees and Employers

Retrieved on: 
Thursday, January 11, 2024
Professional Services, Data Management, Apps, Applications, Technology, Human Resources, Mobile, Wireless, Fintech, Payroll, Era, Multimedia, Earned wage access, SAP, Acquisition, Movement, YOY, HR, PAID, XTM, Health insurance

“Through our QRails acquisition, XTM became the first vertically integrated, fully SAP-certified provider of on-demand pay, which is a game-changer for employers who want to offer impactful, retention-focused benefits to their employees at scale,” said Marilyn Schaffer, CEO, XTM.

Key Points: 
  • “Through our QRails acquisition, XTM became the first vertically integrated, fully SAP-certified provider of on-demand pay, which is a game-changer for employers who want to offer impactful, retention-focused benefits to their employees at scale,” said Marilyn Schaffer, CEO, XTM.
  • Millions of workers across North America have access to their earned wages, on-demand, any day during their pay cycle.
  • AnyDay’s Earned Wage Access is designed to easily implement and execute at scale.
  • For more information and to access The Era of On-Demand Pay white paper, visit paidanyday.com .