The investment consists of an allocation of 25 million shares for 5.5% shareholding in Marketplace Services Pty Ltd. Xped has also provided a loan of $350,000. Tranche 1 of $175,000 has been provided. A second Tranche of $175,000 will be provided on or before 1 January 2018. Xped has the option to convert the loan as equity in the business. This total loan of $350,000 is convertible into a further 12% equity of MPS on or before 1 December 2019.
MPS has entered into an agreement to utilise Xped's Xerts digital coupon technology and integrate that intellectual property into its product offering.
MPS will collaborate with the Country Fire Service (CFS) in South Australia to supply its Marketplaceas- a-Service solution, which will allow 15,000 volunteer firefighters and their families to freely access a mobile application, which provides them improved membership benefits.
The broader SA community also will be able to access and use the mobile application which will generate new income streams or the CFS. The membership offers, which are provided by the business community, will be redeemed and managed using the Xerts couponing system.
Xerts is digital coupon transfer and trigger technology solution patented by Xped. Xerts technology platform contains features and functions to allow advertisers and retailers to attract and retain customers through the use of smart technology. Xped's Xerts solution is highly customisable to meet the needs of specific retailers and advertisers. The management portal provides up to the minute control, and success tracking of coupons, allowing the retailer\advertiser to adapt the offer to maximise return on investment.
About XPED Ltd
XPED Ltd (ASX:XPE) is an Australian Internet of Things (“IoT”) technology business. Xped has developed revolutionary and patent-protected technology that allows any consumer, regardless of their technical capability, to connect, monitor and control devices and appliances found in our everyday environment. Xped provides technology solutions for Smart Home, Smart Building, and Healthcare.
At Xped, we’re Making Technology Easy Again(TM)