FORM 7
MONTHLY PROGRESS REPORT
Name of CSE Issuer: MOBI724 GLOBAL SOLUTIONS INC (“Mobi” or the “Issuer”)
Trading Symbol: MOS
Number of Outstanding Listed Securities: 45,416,212 Common Shares
Date: March 6 – 2015
REPORT ON BUSINESS
1.
Provide a general overview and discussion of the development of the Issuer’s business
and operations over the previous month. Where the Issuer was inactive disclose this fact.
During the reporting month the Issuer has continued to develop its business andto solicit
funding partners to complete the $3M financing announced in October 2014. .
The Issuer has signed a partnership with a large advertising agency for Central America.
With respect to Asia, the Issuer has engaged with different partners in Manila to advance
the installation of the Issuer’s solution in the Philippines..
2.
Provide a general overview and discussion of the activities of management.
Management was actively engaged in all general administrative and sundry duties of the
Issuer.
Furthermore, management has continued progress with vendors to reduce outstanding
debt and agree on a payment plan as per the objectives discussed at the annual
shareholders meeting.
3.
Describe and provide details of any new products or services developed or offered. For
resource companies, provide details of new drilling, exploration or production programs
and acquisitions of any new properties and attach any mineral or oil and gas or other
reports required under Ontario securities law.
The company is focused on its two (2) core solutions – payment and couponing
4.
Describe and provide details of any products or services that were discontinued. For
resource companies, provide details of any drilling, exploration or production programs
that have been amended or abandoned.
During the reporting month there have been no new products or services that have been
discontinued.
5.
Describe any new business relationships entered into between the Issuer, the Issuer’s
affiliates or third parties including contracts to supply products or services, joint venture
agreements and licensing agreements etc. State whether the relationship is with a Related
Person of the Issuer and provide details of the relationship.
FORM 7 – MONTHLY PROGRESS REPORT
March 6th, 2015
Page 1
The Issuer has entered a multi-year partnership with Saatchi&Saatchi – Blu frog digital
media for Central America. Another similar partnership for another country is near
completion.
6.
Describe the expiry or termination of any contracts or agreements between the Issuer, the
Issuer’s affiliates or third parties or cancellation of any financing arrangements that have
been previously announced.
In the reporting month there have not been any expiry or termination of any contracts or
agreements between the Issuer, the Issuer’s affiliates or third parties or cancellation of
any financing arrangements.
7.
Describe any acquisitions by the Issuer or dispositions of the Issuer’s assets that occurred
during the preceding month. Provide details of the nature of the assets acquired or
disposed of and provide details of the consideration paid or payable together with a
schedule of payments if applicable, and of any valuation. State how the consideration was
determined and whether the acquisition was from or the disposition was to a Related
Person of the Issuer and provide details of the relationship.
During the reporting month there have been no dispositions or acquisitions of the
Issuer’s assets. However, The Issuer has announced the signing of a letter of intent to
acquire all the shares of IQ7/24 pending a due diligence already in process.
8.
Describe the acquisition of new customers or loss of customers.
During the reporting month, the Issuer is pleased to announce that RBC in Bahamas is in
full deployment and is boarding merchants at a faster rate than expected.
9.
Describe any new developments or effects on intangible products such as brand names,
circulation lists, copyrights, franchises, licenses, patents, software, subscription lists and
trade-marks.
During the reporting month there have been no new developments or effects on
intangible products.
10.
Report on any employee hirings, terminations or lay-offs with details of anticipated
length of lay-offs.
During the reporting month, the issuer has not had any hirings, terminations or lay-offs.
11.
Report on any labour disputes and resolutions of those disputes if applicable.
The Issuer was not involved in any labour disputes in the reporting month.
12.
Describe and provide details of legal proceedings to which the Issuer became a party,
including the name of the court or agency, the date instituted, the principal parties to the
proceedings, the nature of the claim, the amount claimed, if any, if the proceedings are
being contested, and the present status of the proceedings.
FORM 7 – MONTHLY PROGRESS REPORT
March 6th, 2015
Page 2
Legal proceedings instituted by Optimum Talent Inc. (headhunter) on February 11, 2015
for alleged unpaid commissions of $63,037.87. The claim is being contested.
Legal proceedings instituted by CT Paiements Inc on February 10, 2015 with respect to a
promissory note signed by the Issuer. The amount of the Claim is $100,000.00 which is
currently being contested.
Legal proceedings instituted by René Després in the amount of $ 250,000.00 regarding
an advance to the Issuer. The file is currently in the process of being resolved.
Contestation of the legal proceedings instituted on July 8, 2014 by Jeffrey Anthony, a
former consultant is ongoing. The Claim being contested is an action on account for lost
commissions in the amount of $ 449,297.05.
13.
Provide details of any indebtedness incurred or repaid by the Issuer together with the
terms of such indebtedness.
Security
Number Issued
Details of Issuance
N/A
N/A
N/A
Use of Proceeds(1)
N/A
(1) State aggregate proceeds and intended allocation of proceeds.
14.
Provide details of any securities issued and options or warrants granted.
Security
Number Issued
Details of Issuance
non-secured convertible
debentures
$797,500
Common Shares
250,000
Common Shares
996,857:
Maturity date: December
31, 2015
Interest rate: 10%
Conversion at $0.35
(see detail on individual
forms 9)
$87,500 forgiveness of
debt
Conversion of 2013
convertible debentures.
The amount converted at $
0.35 is $309,507.80 in
capital and interest.
The amount converted at
$1.25 is $ 140,686.25.
Conversion rate was
884,308 @ $0.35
112,549 @ $1.25
FORM 7 – MONTHLY PROGRESS REPORT
March 6th, 2015
Page 3
Use of Proceeds(1)
Working capital
N/A
modified to $ 0.35 for the
debenture holders that
have participated in the
October 2014 debentures
after receiving the consent
of all debenture holders.
Warrants
663,231 Warrants
84,411 Warrants
@$0.50 expiring February,
23 2016 (participating
debenture holders)
@ 1.60 expiring February
23 2016 (non-participating
debenture holders)
(2) State aggregate proceeds and intended allocation of proceeds.
15.
Provide details of any loans to or by Related Persons.
In the reporting month a Related Party has advanced a sum of $50,000 to be reimbursed
once cash flow permits.
16.
Provide details of any changes in directors, officers or committee members.
The first meeting for the board members voted on January 15 is planned for March 18
2015.
17.
Discuss any trends which are likely to impact the Issuer including trends in the Issuer’s
market(s) or political/regulatory trends.
N/A
FORM 7 – MONTHLY PROGRESS REPORT
March 6th, 2015
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Certificate Of Compliance
The undersigned hereby certifies that:
1.
The undersigned is a director and/or senior officer of the Issuer and has been duly
authorized by a resolution of the board of directors of the Issuer to sign this Certificate of
Compliance.
2.
As of the date hereof there is no material information concerning the Issuer which has not
been publicly disclosed.
3.
The undersigned hereby certifies to CSE that the Issuer is in compliance with the
requirements of applicable securities legislation (as such term is defined in National
Instrument 14-101) and all CSE Requirements (as defined in CSE Policy 1).
4.
All of the information in this Form 7 Monthly Progress Report is true.
Dated : March 6th, 2015
Marcel Vienneau
__________
Name of Director or Senior Officer
(s) Marcel Vienneau
Signature
President and CEO
Official Capacity
Issuer Details
Name of Issuer
MOBI GLOBAL SOLUTIONS INC.
Issuer Address257 Sherbrooke East 4th Floor
City/Province/Postal Code
For Month End Date of Report
February 1st
YY/MM/D
2015 to February
28, 2015
2015/03/06
Issuer Fax No.
Issuer Telephone No.
Montreal/Quebec/ H2X 1E3
Contact Name
514-419-6686
Contact Position
(514) 394-5200
Contact Telephone No
Marcel Vienneau
Contact Email Address
CEO
(514) 394-5200
Web Site Address
[email protected]
www.hybridpaytech .com
www.mobi724.com
FORM 7 – MONTHLY PROGRESS REPORT
March 6th, 2015
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