Good Life Networks Signs MOU with Globex to Launch Its Account Receivable Securitized Token
Blockchain Software Provides Efficient Next Day Payment Option for Publishers
Vancouver, British Columbia--(Newsfile Corp. - April 30, 2019) - Good Life Networks Inc. (TSXV: GOOD) ("GLN", or the "Company"), a Vancouver-based programmatic advertising technology company, is pleased to announce that it has entered into a Memorandum Of Understanding ("MOU" or the "Agreement") with Horizon Globex GmbH (www.horizon-globex.com) to license its full suite of blockchain software solutions to power GLN's accounts receivable ("AR") blockchain product. Globex develops, licenses and operates proprietary blockchain software that provides an end-to-end solution for the primary issuance and secondary trading of tokenized securities.
This year will mark a major milestone in the world of advertising. For the first time, digital ad spending in the US will exceed traditional ad spending.1 Also this year, worldwide digital ad spending will rise by 17.6% to $333.25 billion.2 One of the biggest challenges for media companies is sustaining cash flow while working to collect AR. Typically media AR is paid on 60, 90, 120 and even 180-day cycles, tying up billions of dollars of working capital across the digital publishing industry. GLN's AR solution using blockchain technology is designed to substantially accelerate the AR payment cycle using a SEC regulated security token. This solution will provide next day payments to publishers without requiring third party intermediaries such as factoring agents.
Jesse Dylan, CEO of GLN, commented, "We believe our patent pending AR solution can be a game changer for the digital advertising industry. This will give GLN three unique competitive drivers: Speed, Brand Safety (GLN's tech does not collect Personal Identifiable Information) and now, an efficient, exclusive payment solution for our publishers."
GLN will license several key products including KYCware and AMLcop, to onboard, verify, and whitelist investors through a smartphone app, allowing quick and easy investor accreditation to streamline the investment process.
Tokenetics, the underlying issuance and digital securities allocation system, will be incorporated into GLN's ERC-20 based digital securities, incorporating a range of features unique to the company's AR offering such as dividends and other distributions tied to future profits.
Custodyware is being licensed by GLN and its Transfer Agent, granting GLN's Transfer Agent the ability to custody Ethereum ERC-20 securities while compliantly maintaining the identity of holders to facilitate the future payment of any dividends or distributions in currencies such as US dollars.
Pursuant to the MOU, Globex will work with GLN to implement the security token strategy of the GLN securitized AR product.
The GLN Story
GLN's patent pending technology is the engine that sits between advertisers and publishers. A highlight of GLN's tech is that it does not collect PII (Personal Identifiable Information). Built for cross device video advertising: Mobile, In-App, Desktop and CTV (Connected Television) the GLN Programmatic Video Advertising Platform has among the lowest fraud rates of similar vendors in the industry. Advertisers make more money by reaching their target audience more effectively. GLN makes money by retaining a percentage of the advertiser's fee.
GLN is headquartered in Vancouver, Canada with offices in Newport Beach and Santa Monica California, New York and UK and trades on the TSXV under the stock symbol "GOOD" and The Frankfurt Stock Exchange under the stock symbol 4G5. For further information on the Company, visit www.glninc.ca
Globex offers a suite of integrated blockchain software applications for compliant issuance and secondary trading of digital securities. Truly a compliance-first business, our solutions combine Wall Street and Silicon Valley to power the next generation of exchanges and securities offerings in the US and around the world.
Current SaaS product solutions include digital securities issuance and transfers through Tokenetics (tokenetics.com); white label investor onboarding and KYC identity verification through KYCware (kycware.com); watchlist management sanctions and PEP screening through AMLcop (amlcop.com); and transfer agent custody tools through Custodyware (custodyware.com). All software applications can be utilized independently or integrate with one another. Learn more at https://horizon-globex.com/.
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 release.
Forward Looking Statements:
Forward-looking statements relate to future events or future performance and reflect the expectations or beliefs regarding future events of management of GLN. This information and these statements, referred to herein as "forward‐looking statements", are not historical facts, are made as of the date of this news release and include without limitation, statements regarding discussions of future plans, estimates and forecasts and statements as to management's expectations and intentions with respect to the Company's agreement with Globex. These statements generally can be identified by use of forward-looking words such as "may", "will", "expect", "estimate", "anticipate", "intends", "believe" or "continue" or the negative thereof or similar variations.
These forward‐looking statements involve numerous risks and uncertainties and actual results might differ materially from results suggested in any forward-looking statements. Important factors that may cause actual results to vary include without limitation, risks relating to the Company's Blockchain patent application, approval of the TSX Venture Exchange, approval of the associated securities and exchange commissions and general economic conditions or conditions in the financial markets.
In making the forward‐looking statements in this news release, the Company has applied several material assumptions, including without limitation that Globex will successfully develop, license and operate GLN's AR end-to-end solution for the primary issuance and/or secondary trading of tokenized securities in the time expected by management, receive all regulatory approvals and will generate the anticipated results including but not limited to; revenue, adoption of the AR token strategy by clients, investors and industry per GLN management's expectations. GLN does not assume any obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those reflected in the forward looking-statements, unless and until required by applicable securities laws. Additional information identifying risks and uncertainties is contained in GLN's filings with the Canadian securities regulators, which filings are available at www.sedar.com.
For further information, please contact:
CEO Jesse Dylan
604 265 7511
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/44406