Announcement • Oct 09
Logiq, Inc. (OTCPK:LGIQ) agreed to acquire Evimate LLC for $5 million. Logiq, Inc. (OTCPK:LGIQ) agreed to acquire Evimate LLC for $5 million on October 9, 2024. The consideration consists of common equity of Logiq, Inc. having a value of $5 million to be issued for common equity of Evimate LLC. The transaction is slated for completion by October 7, 2024, subject to standard closing conditions. EVIMATE will integrate as a wholly owned subsidiary of Logiq, with key EVIMATE executives joining the senior management team. Announcement • Mar 30
Logiq, Inc. announced delayed annual 10-K filing On 03/29/2024, Logiq, Inc. announced that they will be unable to file their next 10-K by the deadline required by the SEC. Announcement • Jan 10
Logiq, Inc. Announces Resignation of Chris Andrews as Chief Operating Officer January 4, 2024, Chris Andrews notified Logiq, Inc. of his resignation as chief operating officer of the Company, effective immediately. Announcement • May 16
Logiq, Inc. announced delayed 10-Q filing On 05/15/2023, Logiq, Inc. announced that they will be unable to file their next 10-Q by the deadline required by the SEC. Announcement • Jan 05
Logiq, Inc. Announces Board Changes Effective January 2, 2023, Chris Andrews, 46, was appointed to serve as Logiq, Inc.'s Chief Operating Officer. Mr. Andrews previously served as the Chief Digital Officer of MediaJel, Inc. from June 15, 2021 to December 31, 2022, a digital marketing company for businesses in regulated industries. Prior to that, Mr. Andrews held the Chief Digital Officer role of Kubient, Inc. from June 17, 2019 to May 31, 2021. From March 2017 to June 2019, he was employed as the Chief Technology Officer of Ogilvy CommonHealth Worldwide. From November 2006 to February 2017, he was the Chief Information Officer of Ogilvy CommonHealth Worldwide. Mr. Andrews holds a Bachelor of Science and Masters of Business Administration from the New Jersey Institute of Technology. On December 29, 2022, John MacNeil, the Company's previous Chief Operating Officer, notified the Company of this resignation from his role, effective December 30, 2022. Mr. MacNeil's departure was not the result of any dispute or disagreements with the Company on any matter relating to the Company's operations, policies orpractices. On December 28, 2022, Matthew Burlage, Josh Jacobs and Lea Hickman resigned from their positions as members of the board of directors (the Board") of the Company. Mr. John MacNeil also resigned from his position as member of Board effective December 30, 2022. None of the directors' departures were the result of any dispute or disagreements with the Company on any matter relating to the Company's operations, policies or practices. Brent Suen, Lionel Choong and Ross O'Brien will continue to serve as directors on the Company's Board. Announcement • Mar 18
Logiq, Inc. to Report Q4, 2020 Results on Mar 30, 2021 Logiq, Inc. announced that they will report Q4, 2020 results on Mar 30, 2021 Announcement • Mar 06
Logiq, Inc. (OTCPK:LGIQ) entered into an Agreement and Plan of Merger to acquire Rebel AI, Inc. Logiq, Inc. (OTCPK:LGIQ) (“Company”) entered into an Agreement and Plan of Merger to acquire Rebel AI, Inc. on March 3, 2021. As consideration for the Merger, at the Closing, the Company will deliver an aggregate cash payment of $1,126,000 (the “Cash Consideration”), and an aggregate number of restricted shares of the Company’s common stock, par value $0.0001 per share (“Common Stock”), equal to (i) (x) $7,000,000, divided by (ii) the volume weighted average closing price of the Company’s Common Stock for the twenty consecutive trading days prior to Closing. Notwithstanding the foregoing, pursuant to the terms of the Merger Agreement, (i) a portion of the Cash Consideration, in an amount equal to the outstanding balance of that PPP Loan made to Rebel AI in January 2021, shall be withheld at Closing and placed into an escrow account, pending forgiveness or repayment of the PPP Loan, as applicable, and (ii) $2,000,000 of Common Stock shall be withheld from the Stock Consideration and deposited into an escrow account, pending release in accordance with the terms of the Merger Agreement.
Consummation of the Merger is subject to various closing conditions, including, without limitation, (i) receipt of the Rebel AI stockholder approval, (ii) the absence of any injunction, judgment or ruling preventing the consummation of the Merger; (iii) the accuracy of the representations and warranties made by the Parties immediately prior to Closing; (iv) the performance by the parties in all material respects of their covenants, obligations and agreements under the Agreement; (v) the absence of any material adverse effect with respect to the businesses and operations of the Company or Rebel AI; and (vi) the completion and delivery of audited financial statements of Rebel AI to the Company. The board of directors of Rebel and Logiq approved this Agreement.
Christopher Tinen of Procopio Cory Hargreaves & Savitch LLP acted as legal advisor for Logiq and Jeff Carson of OGC Services LLC acted as legal advisor for Rebel. Announcement • Jan 09
Logiq, Inc. Appoints Lea Hickman to its Board of Directors Logiq, Inc. has appointed Lea Hickman to its board of directors. As an independent director, her appointment increases the board to eight members, with five serving independently. Hickman is a seasoned technology product strategist with more than 25 years’ experience building and executing go-to-market strategies. She brings to Logiq an extensive record in successful strategy execution while serving in several senior level positions at top technology companies. She presently serves as a partner at Silicon Valley Product Group, where she advises major tech companies and executives. Announcement • Dec 20
Logiq, Inc. Begins Next Phase of Micro-Lending Program Designed to Provide Mobile Fintech Services to 5 Million Contract and Delivery Drivers Logiq, Inc. has begun the next phase of its previously announced mobile micro-lending platform in an exclusive strategic alliance with Koperasi Mona Santoso Berjaya (KMSB). The next phase involves the rollout of a new mobile fintech platform for 5 million contract and delivery drivers of Garda Digital Indonesia, a membership organization overseen by Badan Perlayanan Jaminan Sosial Ketenagakerjaan (BPJSTK). BPJSTK manages the pensions and health benefits for these members. The new fintech platform will make microloans available to the members for personal or business use, such as purchasing, configuring or repairing their mobile vehicles. Under the exclusive alliance, Logiq and KMSB are developing a jointly owned and operated mobile fintech platform designed to deliver mobile financial services in Indonesia. Logiq, through its Indonesian operations, is providing the platform design and technology, management, ongoing hosting and technical support. KMSB is providing the professional and financial institutional relationships that will drive the microlending program. The partners are working together to launch a new marketing and advertising campaign that will encourage adoption and regular use of the mobile fintech offerings. Through the new fintech platform, KMSB will provide micro-lending services to government, state-owned enterprises and member organizations registered with BPJSTK. As part of managing the pensions and health benefits for contract and delivery driver members, BPJSTK serves as the social security agency that administers retirement and pension plans on behalf of Indonesian government entities and about 600,000 small- and medium-sized businesses (SMBs), with a combined total of 48 million individual members. The mobile fintech platform will eventually be introduced to BPJSTK’s 48 million members and 600,000 SMBs, as well as through affiliated organizations such as Mentalku, which supports the motor vehicle license administration, and Sehatku, a medical clinic organization network. Members will also be able to access Logiq’s PayLogiq™ e-Wallet and GoLogiq™ hyper-local food delivery mobile platforms. Logiq and KMSB plan to complete the official launch of the new mobile fintech platform for drivers of Garda Digital Indonesia by the second quarter of 2021. Logiq plans to begin marketing subscriptions to AppLogiq in the first quarter of 2021 and sees a 30% penetration of BPJSTK’s SMB membership base by the end of the year. Announcement • Nov 19
Logiq, Inc. Launches Pilot Program to Provide Mobile Fintech Services in Exclusive Strategic Alliance with Koperasi Mona Santoso Berjaya Logiq, Inc. launched its previously announced micro-lending pilot program in an exclusive strategic alliance with the country’s social security program provider, Koperasi Mona Santoso Berjaya (KMSB). Logiq and KMSB have agreed to jointly own and operate a new mobile fintech platform that will deliver mobile financial services. Logiq, through its Indonesian operations, will provide platform design and technology, management, ongoing hosting and technical support. KMSB will provide the financial institutional relationships for enabling the microlending program. The partners will then work together to launch a new marketing and advertising campaign that will encourage adoption and regular use of the mobile fintech offerings. Using the new fintech platform, KMSB will provide micro-lending services to Badan Perlayanan Jaminan Sosial Ketenagakerjaan (BPJSTK), the social security agency that administers retirement and pension plans on behalf of Indonesian government entities and about 600,000 small- and medium-sized businesses (SMBs), with a combined total of 48 million individual members. The pilot program will provide mobile micro-lending and related services to 6,000 BPJSTK employees who will be able to borrow up to 20% of their annual salary. Following the pilot program, the next phase will involve rolling out the program to 5 million contract/delivery drivers of Garda Digital Indonesia, a membership organization overseen by BPJSTK that handles pensions and health benefits for ride sharing drivers. Microloans will be made available to these members for personal or business use, such as purchasing, configuring, or repairing their mobile vehicles. Upon successful completion of the pilot, the program will be introduced to all BPJSTK’s 48 million members and 600,000 SMBs. They will also gain access to Logiq’s increasingly popular PayLogiq™ e-Wallet and GoLogiq™ hyper-local food delivery mobile platforms. Announcement • Oct 30
Logiq, Inc. to Report Q3, 2020 Results on Nov 16, 2020 Logiq, Inc. announced that they will report Q3, 2020 results at 2:28 PM, GMT Standard Time on Nov 16, 2020 Announcement • Oct 29
Logiq to Provide Mobile Fintech Services to 48 Million Indonesians and 600,000 Businesses in Exclusive Strategic Alliance with National Cooperative, KMSB Logiq, Inc. has been selected to provide mobile microlending and related services to 48 million Indonesians in an exclusive strategic alliance with the country’s social security program provider, Koperasi Mona Santoso Berjaya (KMSB). Logiq and KMSB have agreed to jointly own and operate a new mobile fintech platform that will deliver mobile financial services. Logiq, through its Indonesian operations, will provide platform design and technology, management, ongoing hosting and technical support. KMSB will provide the financial institutional relationships for enabling the microlending program. Using the new fintech platform, KMSB will provide microlending services to Badan Perlayanan Jaminan Sosial Ketenagakerjaan (BPJSTK), the social security agency that administers retirement and pension plans on behalf of Indonesian government entities and about 600,000 small- and medium-sized businesses (SMBs), with a combined total of 48 million individual members. Announcement • Sep 17
Logiq Partners with Yabx to Offer Merchant Advances and ‘Buy Now, Pay Later’ Services in Indonesia Logiq Inc. has partnered with Yabx, a fintech venture of Comviva and part of USD 5.2 billion Tech Mahindra, to offer credit-based financial services. The services will be offered through Logiq’s increasingly popular PayLogiq e-Wallet and GoLogiq™ hyper-local food delivery mobile platforms, and include cash advance for merchants and ‘buy now, pay later’ options for consumers. Through its partnerships with leading digital wallet providers, online payment gateways and point-of-sale aggregators, Yabx enables financial service providers to underwrite and service new-to-credit customer segments. The company applies proprietary artificial intelligence and machine learning algorithms on massive amounts of alternate data to help providers create a profitable customer portfolio. With Logiq, Yabx gains a channel partner for the Indonesian market where 50% of the population of 264 million people do not have access to traditional banking services, according to the e-Conomy SEA report, while nearly 70% of the population uses a smartphone daily. Forrester reports that 69% of Indonesia’s existing banking customers prefer digital channels, and 73% believe they should be able to accomplish any financial task on a mobile device. These factors have created a digital financial services market in the country that is projected by SGE to reach USD 8.6 billion by 2025, growing at a compounded annual rate of 34%. Since its inception in 2018, PayLogiq has rapidly grown its footprint among unbanked consumers and micro, small and medium enterprises. Through its e-wallet platform, it has generated more than USD 9 million in gross transaction volume so far this year. Its growth has been attributed to the accelerating adoption of mobile commerce in Indonesia and a major shift to contactless transactions since the beginning of the COVID-19 pandemic. To address the growing market opportunity, Logiq will leverage Yabx’s proprietary technology and expertise in scoring, decisioning and lending lifecycle management, and deliver a full range of financial products that it can distribute through the established network of PayLogiq and GoLogiq mobile users. This includes consumer and merchant cost-plus financing, like checkout financing, merchant cash advance and airtime credit or top-ups. The companies expect to complete the integration of their fintech platforms before the end of the year. Announcement • Sep 05
Logiq, Inc. Announces Management Changes Logiq Inc. announced that Brent Suen resigned as Chief Executive Officer (“CEO”) of the company. Suen will continue to serve as the company’s President as well as Executive Chairman of the Board as described above. The company appointed Tom Furukawa as CEO of the company. Furukawa, 48, has served in senior level management roles over the last 26 years for some of the world’s most successful companies, including IBM Tivoli (a division of NYSE-traded IBM), Yahoo!, Kelley Blue Book, The Enthusiast Network, The Rubicon Project, Enstigo, ZEFR, and the Ad Exchange Group. Mr. Furukawa has been on the forefront of major changes in the online ad and marketing industry, and brings to the company deep experience in the development and product management for advertising and digital media technologies. Announcement • Aug 27
Weyland Tech Inc. (OTCPK:WEYL) agreed to acquire the remaining 20% stake in PT Weyland Indonesia Perkasa. Weyland Tech Inc. (OTCPK:WEYL) agreed to acquire the remaining 20% stake in PT Weyland Indonesia Perkasa on August 26, 2020. Post satisfaction of certain transaction requirements, the transaction is expected to close within next two weeks. Announcement • Aug 14
Weyland Tech Inc. (OTCPK:WEYL) reached an agreement to acquire Fixel AI. Weyland Tech Inc. (OTCPK:WEYL) reached an agreement to acquire Fixel AI on August 13, 2020. Weyland plans to operate Fixel as a new subsidiary, but expects Fixel’s technology to be immediately integrated by Logiq, Weyland’s end-to-end eCommerce marketing solution for enterprises and major U.S. brands. The acquisition is anticipated to close upon satisfaction of due diligence and execution of a long-form agreement and by early September 2020. Announcement • Aug 06
Weyland Tech Inc. to Report Q2, 2020 Results on Aug 14, 2020 Weyland Tech Inc. announced that they will report Q2, 2020 results on Aug 14, 2020 