LOS ANGELES, Jan. 14, 2013 /PRNewswire/ -- The Wiki Group, Inc. (OTCQB: TWGI) ("Wiki Group", or "the Company") is pleased to announce that in anticipation of the merger with Moneytech Limited, each of the three members of the Board of Directors has agreed to exchange 583,333 options due under the Board of Director agreement for 250,000 shares of common stock, whereby reducing shareholder dilution. A new Board of Directors will be elected upon completion of the merger.
Edward C. DeFeudis, CEO of The Wiki Group stated, "We have been working tirelessly with our Board and legal team to finalize the merger. The Board members have offered guidance and support throughout the process and it's been a pleasure to work with such a high caliber group of gentlemen."
ABOUT THE WIKI GROUP, INC.
The Wiki Group, Inc. owns and operates two proprietary state-of-the-art technology platforms, WikiPay and WikiLoan.
WikiPay is a low-cost, cash-based mobile payment and marketing platform solution for Peer-to-Peer (P2P), Business-to-Consumer (B2C), Consumer-to-Business (C2B), and Business-to-Business (B2B) transactions. For more information, please visit: www.wikipay.com or the mobile website: m.wikipay.com.
WikiLoan is a low-cost peer-to-peer lending platform that works through the participation and collaboration of family and friends through social networks. The company's website www.wikiloan.com provides repayment schedules and documentation for loans, along with proprietary administrative tools, which enable users to securely pull credit reports and automate the loan repayment process.
ABOUT MONEYTECH LIMITED
Moneytech is a commercial finance company that offers small to medium sized enterprises (SMEs) unique cash-flow solutions to assist growing their businesses. The Moneytech Exchange offers proprietary Internet banking platforms for Buyers, Sellers, and Moneytech staff to deliver leading edge financial solutions.
Moneytech offers four main products to the business community: 1) Credit Express - 100% trade finance facility for SMEs $25,000- $1 million, 2) Confirmed Capital - 100% accounts receivables funding for SMEs $1-$5 million, 3) Card Solutions- Wholesale gift and prepaid debit card solutions, and 4) Foreign Exchange solutions - Spot Transactions, Forward Cover, Derivatives and Options.
The Company's website is located at: www.moneytech.com.au
FORWARD LOOKING STATEMENTS This news release may include "forward-looking statements" regarding The Wiki Group, and its subsidiaries, business and project plans. Such forward looking statements are within the meaning of Section 27A of the Securities Act of 1933, as amended, and section 21E of the United States Securities and Exchange Act of 1934, as amended, and are intended to be covered by the safe harbor created by such sections. Where The Wiki Group expresses or implies an expectation or belief as to future events or results, such expectation or belief is believed to have a reasonable basis. However, forward-looking statements are subject to risks, uncertainties and other factors, which could cause actual results to differ materially from future results expressed, projected or implied by such forward-looking statements. The Wiki Group does not undertake any obligation to update any forward-looking statement, except as required under applicable law.
CONTACT: Investors may contact: Market Street Investor Relations Inc. at (877) 218-9173.
SOURCE The Wiki Group, Inc.