Recently, COSTAS INC (OTCMKTS:CSSI) entered into an agreement with AuthentaTrade Ltd., to fund it’s operations.
Costas has agreed to provide funding to enable AuthentaTrade to execute it’s impressive business plan and emerge as a licensed exchange governed in the EU by the CySEC (Cyprus Securities and Exchange Commission). Currently there are no fully licensed exchanges in the European Union recognized by the entities that oversee financial products.
AuthentaTrade has engineered a roadmap under the guidance of it’s management and sub-contractors to become the first truly recognized and regulated exchange.
Through the guidance of Costas’ management and from its relationships and financing, AuthentaTrade has engaged GulfMetrics to provide guidance through the CySEC licensing process.
GulfMetrics will provide the company with an audited compliance strategy as well as the required personnel to manage compliance related communications moving forward. Officers at GulfMetrics are optimistic regulatory authorities in Europe will grant the company the actual license in as little as 4 months from the date of application. GulfMetrics has been active in financial administration and the listing of companies on stock exchanges globally for many years.
Costas Inc., was incredibly impressed by the team and overall plan at AuthentaTrade. We felt the project was deserving and suited to a key introduction to one of our financing sources – Global Equity Partners Plc, based in Dubai.
AuthentaTrade has entered into an agreement with Dubai, UAE based Global Equity Partners to provide second round financing of up to $7MM. Meetings and negotiations with GEP and its partners are ongoing. Based on the level of interest and the current state of the DC space we anticipate the result will be the execution of a term sheet for required financing and the potential for a subsequent IPO, in Q2, 2016.
Commodity Channel Index (CCI)
The CCI shows overbought (above 100) and oversold (below -100) areas. The current value of the CCI is -8. This is not a topping or bottoming area. The last signal was a buy 2 period(s) ago.
The Moving Average Convergence/Divergence indicator (MACD) gives signals when it crosses its 9 period signal line. The last signal was a buy 0 period(s) ago.