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Revenue for the year ended December 31, 2022 was $25.4Mln compared to $22.2Mln for the prior year representing an increase of $3.2Mln or 14%

RCRT has announced a definitive agreement for a planned purchase of the fintech assets of GoLogiq (OTCPK:GOLQ), a U.S.-based global innovator of fintech and consumer data analytics.  The combined companies are valued at ~$105M, with existing maintaining ~16%

GoLogiq Signs to Acquire Vietnam-Based Payroll and HR Fintech Platform, Symplefy, for $30 Million

Futuris Acquires Healthcare Staffing Business from (Breaking Today)

Their clients include Schlumberger, Halliburton Co., Ford Motor Co., Coca Cola Co., and Bluebeam, Inc.


Hello Everyone,

We have another profile for you to research for Wednesdays session.

This is a company that got a lot 0f attention today after making a strong announcement this morning.

Pull up RCRT immediately. Group Inc. (NASDAQ: RCRT) is a hiring platform for the network of recruiters. The company empowers businesses to recruit specialized talent faster with virtual teams of recruiters and AI job-matching technology. The network of over 25,000 small and independent recruiters utilize a web platform, complete with AI-driven job matching, to recruit talent faster. Its Recruiters On Demand provides businesses of all sizes access to virtual recruiters specialized by vertical industries to source, engage, and hire talent on an as-needed basis.

The staffing, recruiting, and workforce solutions industry makes a vital contribution to the U.S. economy while servicing businesses across virtually all industries. Staffing provided job and career oppor∙tunities for about $16Mln. employees per year pre-pandemic ($13.6Mln during the pandemic).

We offer employers a subscription service that provides campaigns to prospective employees and sends these candidates to the employers. The subscription is made possible by our AI based software, which matches job descriptions against a large database of candidate profiles. We refer to this software solution as our “AI Software”, “Talent Sourcing Software”, “the Platform” or simply, “ Software.” Our AI Software originated from our acquisition of Upsider, Inc. in 2021, and has since been further developed. In December 2022, we announced a strategic partnership with Talent, Inc., terms of which included the sale of certain intellectual property including the AI Software. For a period of eighteen months from the date of sale, the Company will have access to the platform sold to Talent, Inc. Subsequent to the sale, we continued to provide recruiting solutions leveraging third-party tools.

Their recruiting solutions allow us to meet the hiring needs of a variety of clients, from Fortune 100 enterprises to high-quality startups. They typically focus on filling highly skilled and senior-level roles in specialized fields, including technology, healthcare, finance, logistics/transportation, communications, engineering, energy, and many others.

The majority of their revenue (approximately 90%) is generated by providing Recruiting Solutions for employers, consisting of success-based placement fees for full-time employee referrals and hourly and project-based fees for professional consulting and staffing. Their clients include Schlumberger, Halliburton Co., Ford Motor Co., Coca Cola Co., and Bluebeam, Inc.

Futuris Acquires Healthcare Staffing Business from

NEW YORK, NY / ACCESSWIRE / August 15, 2023 / Group, Inc. (NASDAQ:RCRT)(NASDAQ:RCRTW) (“” or “the Company”) today shares exciting news: Futuris Company (OTC: FTRS), a leader in Human Capital Management (HCM), has reached an agreement to acquire the Company’s specialized healthcare staffing business, pending client approvals.

This strategic move cements Futuris’ place within the healthcare staffing industry and underscores both companies’ shared commitment to expanding services and promoting growth. According to the agreement’s terms, will transition specific client contracts to Futuris or its related entities. The transaction compensation incorporates Futuris stock, valued at $500,000 (subject to adjustments as per the agreement’s terms), and a share of the ongoing gross profit, with a maximum limit of $2 million.

The transaction is expected to close immediately upon the fulfillment of closing conditions, including necessary client approvals.

While we are transitioning specific client contracts to Futuris, remains committed to minimizing disruptions and ensuring a seamless transition for our clients and employees. Our team will work closely with Futuris to ensure a smooth transfer of responsibilities. This decision was made after careful evaluation and a realization that Futuris, with its proven expertise in healthcare staffing, is better positioned to maximize the potential of this business segment. Our experience in healthcare staffing has provided valuable insights, which will continue to inform our strategic decisions moving forward.

Miles Jennings, CEO of, spoke enthusiastically about the agreement: “This transaction represents a significant milestone in our strategy to focus on our core business while providing our clients with top-tier service. By passing our healthcare staffing business to Futuris-a company known for its successful integrations and impressive growth-we’re setting the stage for the next exciting chapter of business expansion. We anticipate great things from Futuris in the future.” Group, Inc., Tuesday, August 8, 2023, Press release picture

About Group, Inc. is a dynamic recruiting platform, delivering flexible talent acquisition solutions that span startups to Fortune 100 companies. Harnessing an extensive network of recruiting professionals and cutting-edge recruitment marketing automation, navigates complex hiring challenges to serve businesses across the globe. Group, Inc., Tuesday, August 8, 2023, Press release picture

About Futuris Company

Futuris is a dedicated Human Capital Management (HCM) firm committed to delivering Executive Search, Staffing, Consulting services, and Tech Services. Specializing in sectors such as Medical, Information Technology, Recruitment Process Outsourcing (RPO), and Legal, the Company is steadfast in its mission to construct a global HCM platform through highly targeted and accretive acquisitions, combined with operational efficiencies.

Futuris Company’s commitment to dynamic growth is clear, demonstrated by their recent acquisition of INSIGMA, an IT services firm that specializes in global staffing. Futuris’ CEO/CFO, Robert Day, has signaled the company’s intention to sustain this growth trajectory with future acquisitions on the horizon. Adding’s healthcare staffing business to their portfolio, Futuris not only diversifies its services but also cultivates new avenues for both organic and inorganic growth.

GoLogiq Signs to Acquire Vietnam-Based Payroll and HR Fintech Platform, Symplefy, for $30 Million

Symplefy CEO, Stephen Jones, Appointed CFO of GoLogiq as Part of All-Stock Transaction

NEW YORK, July 27, 2023 (GLOBE NEWSWIRE) — GoLogiq, Inc. (OTC:GOLQ), a U.S.-based global provider of fintech and consumer data analytics, has signed a definitive agreement to acquire Symplefy, a provider of innovative payroll and end-to-end human resource (HR) management solutions based in Ho Chi Minh City, Vietnam. The all-stock transaction is valued at up to $30 million, dependent on performance-based earnouts.

Following the close of the transaction, Symplefy’s co-founder and CEO, Stephen R. Jones, was appointed to the open position of CFO of GoLogiq. He will also continue to serve as CEO of Symplefy as a wholly owned subsidiary of GoLogiq.

Focused on businesses in the fast-growing economies of Southeast Asia, Symplefy is revolutionizing the way corporations manage their workforce by simplifying HR processes and streamlining payroll processes through its innovative cloud-based software management tools, enhancing workforce efficiency and simplifying complex regulatory compliance.

Symplefy generates a significant amount of data, which when paired with GoLogiq’s existing Radix™ Big Data analytics platform, can provide key insights to enhance the client experience as well as provide cross selling opportunities with GoLogiq’s other fintech platforms.

The OpportunityThe global payroll and HR solutions and services market is projected to grow at a 8.4% CAGR to reach $50.4 billion by 2030. HR industry thought-leader, People Matters, points out Southeast Asia (SEA) countries represent a major global hub for manufacturing and trade, as well as one of the fastest-growing consumer markets in the world. While being the third-largest labor force, only behind China and India, SEA nations have outpaced the rest of the world in GDP growth per capita since the late 1970s.

To address the substantial market opportunity SEA represents, Symplefy has focused the initial launch of its fintech platform on the fast-growing economy of Vietnam. According to S&P Global, Vietnam is expected to experience rapid economic growth over the medium term as a key beneficiary of the shift in global manufacturing supply chains towards competitive SEA manufacturing hubs.

In light of the strong growth outlook, domestic and international businesses operating in Vietnamface numerous unique challenges related to payroll and human resources management regulations. Vietnamese labor laws that regulate minimum wage, overtime, social insurance contributions, and personal income tax can be intricate and subject to frequent changes.

These factors make it challenging for businesses of all sizes to stay compliant. SMBs especially face many hurdles with adopting modern payroll systems and automation, and traditional manual payroll processes are prone to errors and inefficiencies.

To address these regulatory challenges while staying competitive, businesses in Vietnam need to invest in robust payroll software, seek professional advice on compliance matters, stay updated on changing regulations, and implement effective HR practices to attract and retain skilled talent.

The SolutionSymplefy solves these problems with a highly affordable and easy to implement cloud-based system for payroll and HR management. Its HR management system automates time-tracking and employee leave management while its payroll solution generates accurate payrolls and comprehensive reports.

The platform is currently in the early stages of roll out, initially deployed with several manufacturing businesses that have 50 to 2,500 employees. Under a new marketing campaign, Symplefy intends to launch the solution across multiple industries and geographies. Through its initiatives, Symplefy expects to ramp its customer acquisition to more than 2,000 corporate clients over the next 18 months.

“We believe that every business, regardless of its scale, wants and deserves access to top-tier software that optimizes their HR functions and simplifies their payroll management,” noted Jones. “Our user-friendly interface, robust features, and seamless integration capabilities ensure that our software is both powerful and accessible.”

“Symplefy’s technology and Southeast Asia focus complements GoLogiq with a solution that inherently acquires a significant amount of customer data, such as spending, banking habits and income,” added Jones. “We plan to apply GoLogiq’s existing Radix™ Big Data analytics platform to implement data analysis that can help enhance the customer experience as well as provide cross selling opportunities with other GoLogiq fintech platforms.”

In addition to payroll and HR functions, the Symplefy platform is designed to support future opportunities for cross border transfer transactions, micro-lending, micro personal insurance, and more efficient payroll. This includes cross pollination opportunities with GoLogiq’s other fintech solutions, including credit cards, banking, and lending for underserved businesses.

According to executive chairman of GoLogiq, Brent Suen: “This acquisition is the next of several in our pipeline that strengthen the power of our fintech platform and consumer data analytics technology. After our full launch into Vietnam, we plan to expand our footprint to other Southeast Asian markets facing similar challenges.”

To learn more about Symplefy’s end-to-end HR management system and payroll solution, contact the company here.

Transaction DetailsUnder the terms of the definitive agreement, Symplefy will become a wholly owned subsidiary of GoLogiq. GoLogiq is to issue shareholders of Symplefy common shares of GoLogiq valued at $15 million in exchange for 100% of Symplefy. Symplefy shareholders may earn up to $15 million in additional shares of GoLogiq if certain earnout targets are achieved.

GoLogiq’s recently announced a sale of its fintech assets to Group (NASDAQ:RCRT) (NASDAQ:RCRTW) (“Recruiter”), a recruiting solutions provider. If such sale is consummated prior to the closing date of GoLogiq’s business combination with Symplefy, GoLogiq intends to assign its rights in the share purchase agreement with Symplefy to Recruiter, whereupon Symplefy would become a subsidiary of Recruiter.

Additional details about the Symplefy transaction will be made available in a Form 8-K on as well in the investor section of GoLogiq’s website.

Stephen R. Jones Bio

Stephen R. Jones is an international finance and operations executive with more the 15 years of experience leading global organizations in emerging markets in Asia and international, multi-cultural environments. He brings to the company broad and deep experience in starting, growing and expanding e-commerce and professional service business and financial services enterprises from pre-revenue to more than $8 billion in sales.

Jones previously developed highly successful, go-to-market financial strategies for several companies and managed three turnarounds. He devised the strategic and financial plans for raising nearly $57 million for two start-ups, and guided two companies through an initial public offering, raising more than $90 million. He also led the sale of three companies, realizing shareholder value of more than $400 million.

“We welcome Steve’s extraordinary record of achievement and deep software and financial experience as we further enhance our fintech and consumer data analytics platforms,” commented Suen. “We anticipate Steve playing a key role as we advance the commercial roll out of our technologies on a global scale.”

He previously served as CFO of Vemanti Group, a financial technology company located in Irvine, California. Earlier he served as CFO and COO of Dreamplex, a provider of hybrid working solutions for organizations located in Ho Chi Minh City, Vietnam, and currently serves on the company’s board of directors.

Prior to Dreamplex, he served as COO of HMB Inc., a service-based company that offers IT and technology solutions for medium to large companies in various industries. He also previously served as COO and CFO of Navigos Group in Ho Chi Minh City, Vietnam.

Jones holds a B.A. in political science and history from Vanderbilt University, and an MBA in Finance and Accounting from University of Cincinnati Carl H. Lindner College of Business.

About GoLogiqGoLogiq Inc. is a U.S.-based global provider of fintech and mobile solutions for digital transformation and consumer data analytics. Its software platforms are comprised of CreateApp, a mobile app development and publishing platform for small-to-medium sized businesses; AtozGo™, a ‘hyper-local’ app-based delivery platform; AtozPay™, an eWallet for mobile top-up, e-commerce purchases, bill payment and microfinance; and Radix™, a Big Data analytics platform.




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