Announcement • Sep 06
Lynx Global Digital Finance Corporation Announces Resignation of Michael Penner as Chief Executive Officer Director resignation Michael Penner has resigned as chief executive officer of Lynx Global Digital Finance Corp. The company is looking to bring on a new chief executive officer that has the requisite experience to successfully manage the company's current situation. Board Change • Apr 27
Less than half of directors are independent There are 8 new directors who have joined the board in the last 3 years. Of these new board members, 2 were independent directors. The company's board is composed of: 8 new directors. No experienced directors. No highly experienced directors. 2 independent directors (3 non-independent directors). Co-Founder & Independent Director Solomon Riby-Williams is the most experienced director on the board, commencing their role in 2020. Independent Director Christopher Aldaba was the last independent director to join the board, commencing their role in 2021. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. Lack of experienced directors. Announcement • Jan 09
Lynx Announces Its Metaverse Payments Strategy Lynx Global Digital Finance Corporation announced its commitment to extend its financial infrastructure to include support for metaverse based services. This will further extend the Company's current offering to provide leading edge financial service to its targeted client base in the markets of Southeast Asia. From previous acquisition of BRB and its other regional operations, Lynx has a bank and relevant crypto license, as well as electronic money issuer license. The focus is now to fully integrate the existing financial payment and infrastructure with a metaverse virtual community. The Company will be evaluating the opportunities in the metaverse but has identified two use cases that will be the focus of its initial product offering. P2E is defined by a work population that are playing crypto based games to create and earn valuable digital items that can be sold to generate income. According to Reuters this model generated $2.5 Billion in the first half of 2021. During Covid, the Play-to-Earn industry took off as hundreds of thousands of people switched from their careers as shop owners, pedicab drivers, and restaurant workers to become NFT gamers, effectively virtual factory workers building new assets in a new digital economy. This new drive and new crypto economy have given people the opportunity to replace their income in markets where the government has been unable to give them Covid payments. A true case of digital financial inclusion. Over half of these P2E users were from the Philippines and Vietnam. This highlights the scale of the opportunity for the Lynx platform as the region rapidly shifts to digital earning in a market that is still constrained with an underbanked population of 70 percent. Currently, it is still cumbersome and expensive for these digital players to turn their NFT game earnings into cash and payments to buy groceries, pay their bills and meet their day-to-day needs. Lynx is building that technology and payment layer that turns NFT gaming earning into real funds for day- to-day living. With Lynx's all-purpose digital payment and cash in/cash out wallet Play-to-Earn workers can easily cash out their NFT Token earnings into fiat cash or onto a Lynx prepaid card that allows them to buy groceries, pay their bills, and experience true financial inclusion. This will be done through Lynx's Metaverse Financial Platform. Remittance Experience is Enhanced through the Metaverse According to the World Bank, remittances (money transfers to low- and middle-income countries) is estimated at $540 billion dollars). Lynx intends to re-imagine the global remittance product through a Metaverse enabled money transfer experience: by creating digital meeting spaces that will allow a remitter to visit with and communicate with their loved ones while facilitating the transfer of money in a streamlined, entertaining, economical, and secure way. The Company believes that becoming a leading player in Metaverse Remittances will have long term benefits. Bill Gates recently stated that he believes that most business meetings will occur in the metaverse within the next 2-3 years. The Lynx Metaverse Payment and Financial Infrastructure will provide this capability to its user base and is working towards that goal now. 
