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Saturday, December 3, 2022

Fast Finance Pay Corp. (OTCMKTS: FFPP) Big Move as German Fintech Operator Acquires 100% of ok.de Encrypted Mobile ‘Free-Mailer’ E-Mail

Fast Finance Pay Corp. (OTCMKTS: FFPP) has been running northbound from well under a penny as the Company acquires from FFPP’s majority parent organization, Frankfurt Stock Exchange-traded Fast Finance 24 Holding AG (‘FF24 Holding’; ‘FF24’ on XETRA and Frankfurt), a German private limited company, FF24 Sustainability GmbH. Formerly named OK.de, the target contains the OK.de mobile ‘free-mailer’ e-mail and end-to-end secure, encrypted, instant messaging service which attracted the FF24 Holding investment team in Berlin. Ok.de currently has approximately 2.3 million users of its e-mail service, which to date predominantly addresses only the domestic German consumer market, as does the OK.de IM app., which benefits from access to military-grade encryption software. 

Reverse mergers can be more explosive than biotech’s when the incoming Company has real value but is undiscovered to investors and many RM stocks, we have covered on this website have gone from pennies to dollars. Two recent RM runners that stand out are TSNP/HMBL which went from sub pennies (where we first wrote about it) to several dollars per share. The other is HRBR which went from a few cents (where we first wrote about it) to $3 plus. FFPP is a perfect merger runner with very little debt and 0 convertible debt and growing revenues reporting $290,490 in sales for the 3 months ended June 30, 2022. 


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Fast Finance Pay Corp. (OTCMKTS: FFPP) is a public FinTech, e-commerce and new media investment holding company headquartered in Berlin, Germany, whose shares are traded on the Frankfurt Stock Exchange in Germany. The Company went public in early 2021 when two FinTech businesses of Fast Finance 24 were acquired by FFPP through a share exchange agreement announced on March 8th, 2021 under which FFPP created and allotted to Fast Finance 24 in exchange for 100% of the issued share capital of Fast Finance 24’s two FinTech subsidiaries the whole of a new class of 100,000 unquoted, undated, convertible, preferred equity securities with voting rights, designated the Series ‘D’, which are fully convertible into Common Shares. 

f24Payments is a modern, scalable real-time payment platform. It offers innovative solutions, whether for one-off purchases or recurring bookings and is aimed at large and small online merchants, as well as operators of the growing number of websites which generate their income from the “Freemium” revenue model. Supported payment methods include Mastercard, VISA, SEPA, instant bank transfer and PayPal. ff24Pay offers banking and instant transfer solutions for a wide range of the world’s most important currencies. The initial target groups are private individuals and SMEs who use either the euro (EUR) or other European currencies as their base currency. ff24Pay offers the following services to European customers: bank account with IBAN, debit card, multi-currency processing, SEPA and SWIFT transfers, as well as recurring payments.

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FFPP

On November 8 FFPP announced it has agreed in a related party transaction to acquire from FFPP’s majority parent organization, Frankfurt Stock Exchange-traded Fast Finance 24 Holding AG (‘FF24 Holding’; ‘FF24’ on XETRA and Frankfurt), a German private limited company, FF24 Sustainability GmbH (‘FF24 Sustainability’), incorporated in the north-western German State of North Rhine-Westphalia. 

Formerly named OK.de, the target contains the OK.de mobile ‘free-mailer’ e-mail and end-to-end secure, encrypted, instant messaging service which attracted the FF24 Holding investment team in Berlin. Ok.de currently has approximately 2.3 million users of its e-mail service, which to date predominantly addresses only the domestic German consumer market, as does the OK.de IM app., which benefits from access to military-grade encryption software described by attorney and IP law specialist, Armin Dartsch, the Director at FFPP who is non-executive Chairman of the quoted German ‘umbrella’ company, FF24 Holding, as ‘exceptionally robust.’ The IM app, which is not dissimilar in performance and confidentiality to the popular Signal IM app, has particular attractions to a group such as FFPP, where FF24 Holding is concentrating its interests in the burgeoning FinTech segment. 

OK.de/FFPP are working with their software development partner to develop functionalities not yet considered ‘standard fare’ in the universe of IM apps, including a uniquely secure mobile crypto-currency wallet with facilities not only to switch between different leading crypto-coins, and between crypto- and major fiat currencies using the app but also to transfer crypto- currencies C2C between app users, securely by means of something as simple as an IM. Although OK.de belonged to FF24 Holding in Berlin, around 12% (twelve per cent.) of the shares of the Florida SPV corporation will go to outside investors who had acquired a contingent interest in the target corporation. Instead of ending up with shares in a private SPV, these are being exchanged for FFPP’s new, Series ‘E’ Convertible Preferred Stock so, when those in Europe who bought a seat at the OK.de table early convert their Series ‘E’ into FFPP common stock, they will in a year’s time also have attained a liquidity event.’ 

FFPP Director Armin Dartsch stated: ‘Because of the areas of e-finance our present two subsidiaries, ff24Merchant Services GmbH and ff24 Ventures GmbH, address, which are B2C e-payments processing, and C2C e-banking and cross-border remittances respectively, OK.de not only represents a channel for us to communicate with potential customers for these offerings but it gives us an insight into what people might wish to be able to do in terms of e-financial services, which is where OK.de and its software partners can step in to develop solutions or fill a gap in the market. The logical place in the Fast Finance universe for OK.de had to be alongside our other FinTech businesses, within FFPP. 

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Currently trading at a $3.3 million market valuation FFPP OS is 213,264,256 with 29,218,270 in the float. The Company has a strong balance sheet with very little debt and 0 convertible debt and growing revenues reporting $290,490 in sales for the 3 months ended June 30, 2022. The Company just completed the acquisition of 100% of ok.de mobile ‘free-mailer’ e-mail and end-to-end secure, encrypted, instant messaging service which attracted the FF24 Holding investment team in Berlin. Ok.de currently has approximately 2.3 million users of its e-mail service, which to date predominantly addresses only the domestic German consumer market, as does the OK.de IM app., which benefits from access to military-grade encryption software. OK.de/FFPP are now working with their software development partner to develop functionalities not yet considered ‘standard fare’ in the universe of IM apps, including a uniquely secure mobile crypto-currency wallet with facilities not only to switch between different leading crypto-coins, and between crypto- and major fiat currencies using the app but also to transfer crypto- currencies C2C between app users, securely by means of something as simple as an IM.  We will continue to report on this situation as it unfolds and more information becomes available. We will be updating on FFPP when more details emerge so make sure you are subscribed to Microcapdaily.

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Disclosure: we hold no position in FFPP either long or short and we have not been compensated for this article.

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