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Wednesday, June 29, 2022

The Remarkable Rise of Vemanti Group Inc. (OTCMKTS: VMNT)

Vemanti Group Inc. (OTCMKTS: VMNT) is an exciting story in small caps that has seen a spectacular rise in recent months from well under a penny in June to recent highs over $0.35 per share. The stock has attracted legions of shareholders who continue to accumulate.

VMNT is pink current with virtually no debt, no notes and a low OS. The Company has seen significant growth through acquisition and is led by tech whizz Tan Tran who stated last week when asked on the possibility of a gold refinery investment and acquisition. “What I can say at this point is that there is a lot of traction and the negotiation is moving along nicely,” said Tran. “Once the terms and conditions are confirmed, we’ll have more information to share with the public,” he added, noting that the company is located near one of Barrick Gold Corporation’s mining operations in West Africa. “Our target is to have at least 20% equity in this company with options for more,” said Tran. “We expect the equity exchange to take place quickly, but the later steps require bringing in an investment banker, so it will take some time to get everything finalized.”

Vemanti Group Inc. (OTCMKTS: VMNT) is a technology-driven multi-asset company that seeks to be active in high-growth and emerging markets. Our core strengths are in technology development and investment. We drive growth through acquisition and investment in disruptive and foundational technologies by targeting early-stage companies that have market viable products or by starting a new subsidiary of our own. Strategically, we focus mainly on fintech applications combined with other emerging technologies, including blockchain and machine learning/AI.

VMNT subsidiary Fvndit, Inc. pronounced like “Fund it”, is a California- and Vietnam-based fintech company, focused on solving the working capital problem for SMEs using technology. The team is comprised of engineers, designers, data scientists, trade finance and banking veterans across 2 locations: Irvine, CA and HCMC, Vietnam. It’s using technology to re-build core parts of the business funding infrastructure and make the underwriting and financing seamless for small businesses. Its wholly-owned subsidiary, eLoan, JSC (“eLoan”), operates an online P2P funding and investing marketplace in Vietnam, its current local market. According to Vemanti, Fvndit total revenues for FY2019 increased more than 300% compared to FY2018. Despite the uncertainties, Fvndit is still projected to exceed last year’s performance.

eLoan, JSC is a peer-to-peer (P2P) lendingmarketplace that allows investors to lend money directly to small and medium-sized enterprises (SMEs) based in Ho Chi Minh City, Vietnam. eLoan is the first peer-to-peer lending company and one of the few fintech firms in Vietnam focusing purely on serving SME clients with short-term loans. Its platform is run on a proprietary AI-driven decision-making and credit-rating system. The company is a legal entity registered under the laws of Vietnam and is not affiliated with E-LOAN, Inc. and http://eloan.com, a Division of Banco Popular de Puerto Rico.

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VMNT

In July VMNT reported its portfolio company, Fvndit, Inc. has disbursed a record of over $15M USD in loans to SMEs in Vietnam through its P2P lending marketplace, eLoan JSC. eLoan’s total revenues for FY2019 increased by 338% compared to FY2018. Despite the global uncertainties around COVID-19, it is still projected to exceed last year’s performance. Most of the loans are short-term loans, averaging a two-month term. The average ticket size of the loans facilitated stands at $50,000 USD. Small to Medium-Size Enterprises (SMEs) play a major role in Vietnam’s economy, accounting for 98% of all enterprises, more than 41% of GDP ($261.64 billion – nominal, 2019 est.), and over 50% of employment. Access to credit is the biggest challenge for these businesses. It is estimated that 70% of the SMEs in Vietnam don’t have access to proper financing. Banks regard loans to SMEs as risky relative to high transaction costs and approval process could take 1-2 months. Most banks don’t find enough value in underwriting loans for SMEs, often because their typical loan size is not very large, and banks cannot justify the money or the manpower they spend on underwriting smaller business loans. Banks providing commercial loans prefer to allocate their resources to larger firms rather than SMEs.

VMNT has an ambitious vision to expand its strategy by identifying and adding innovative fintech businesses at good value to its portfolios well as slowly establishing holdings in commodities such as previous metals and cryptocurrencies that can serve as a source of long-term returns and diversifier to mitigate losses in times of market stress. Ultimately, its goal is to be a multi-asset holding and investment company focused on the emerging markets of Vietnam and other ASEAN countries where the economic force is projected to be a strong driver of global growth for the next 50 years.

VMNT is led by CEO Tan Tran who started the Company back in 2014. Mr. Tran is a tech whizz who worked at various leading technology companies from 1988-2004 including Western Digital, SMC Networks, Sync Research, Alcatel-Lucent, Veraz Networks, GenBand, Fronde, Metaswitch Networks, and Exalt Communications where he held a variety of management, operations, sales, and marketing roles, covering U.S., Canada, Asia-Pacific, and Latin America markets with revenues in multiples of tens of millions.

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VMNT is an exciting story developing in small caps; In July VMNT reported its portfolio company, Fvndit, Inc. has disbursed a record of over $15M USD in loans to SMEs in Vietnam through its P2P lending marketplace, eLoan JSC. eLoan’s total revenues for FY2019 increased by 338% compared to FY2018. Despite the global uncertainties around COVID-19, it is still projected to exceed last year’s performance. VMNT is pink current with virtually no debt, no notes and a low OS. The Company has seen significant growth through acquisition and is led by tech whizz Tan Tran who stated last week when asked on the possibility of a gold refinery investment and acquisition. “What I can say at this point is that there is a lot of traction and the negotiation is moving along nicely,” said Tran. “Once the terms and conditions are confirmed, we’ll have more information to share with the public,” he added, noting that the company is located near one of Barrick Gold Corporation’s mining operations in West Africa. “Our target is to have at least 20% equity in this company with options for more,” said Tran. “We expect the equity exchange to take place quickly, but the later steps require bringing in an investment banker, so it will take some time to get everything finalized.” We will be updating on VMNT when more details emerge so make sure you are subscribed to Microcapdaily so you know what’s going on with VMNT.

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

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