FDCTech, Inc. (OTCPK : FDCT) cancelled the acquisition of 80% stake in CIM Securities, LLC from Choice Investment Management LLC.
July 30, 2023
Share
FDCTech, Inc. (OTCPK : FDCT) signed non-binding letter of intent to acquire a 80% stake in CIM Securities, LLC from Choice Investment Management LLC for $0.2 million on July 19, 2022. FDCTech, Inc. (OTCPK : FDCT) signed a definitive agreement to acquire a 80% stake in CIM Securities, LLC from Choice Investment Management LLC on September 30, 2022. The total purchase price includes a non-refundable fee of $20,000 and a cash payment of $180,000 will be payable after the approval of Form 1017. The acquisition would be subject to regulatory approvals, with the closing contemplated in the fourth quarter of 2022.
FDCTech, Inc. (OTCPK : FDCT) canceled the acquisition of 80% stake in CIM Securities, LLC from Choice Investment Management LLC on July 30, 2023. On August 4, 2023, the escrow agent refunded $180,000 to FDCTech following a termination notice from FDCTech to Choice.
FDCTech, Inc. provides financial technology (fintech) and business solutions to OTC Online Brokerages and cryptocurrency businesses (customers). The Company operates through three segments: Wealth Management, Technology and Software Development, and Margin Brokerage Business. The Company operates its Wealth Management segment through its subsidiary, AD Advisory Services Pty Ltd. (ADS). ADS provides licensing solutions for financial advisers and accountants in Australia. ADS offers financial planners different licensing, compliance and education solutions to meet their practiceâs specific needs. It operates its Technology & Software Development segment through its subsidiary, Condor Trading Technology, which is a technology provider and software developer in the cryptocurrency or digital asset space. It operates its Margin Brokerage Business segment through its subsidiary, NSFX Ltd, which is an online trading brokerage firm.
FDCTECH, INC. 
