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Byte Power Group Ltd provides a further update on legal action taken by Konzept APS against the Company for payment and non-delivery of Goods

Byte Power Group Ltd (ASX:BPG) (or Company) provides this further update in relation to proceedings commenced by Konzept APS in the Supreme Court of Queensland against BPG as previously advised to the market in releases on 13 March 2018 and 27 March 2018.

On 13 March 2018, BPG received a Creditor's Statutory Demand from Konzept APS to pay USD717,550.36 or to secure or compound for USD717,550.36, to Konzept APS' reasonable satisfaction.

Konzept APS has agreed to a payment plan with Byte Power Group Ltd. In accepting this payment plan Konzept APS has withdrawn the Creditor's Statutory Demand.

About Byte Power Group Limited

Byte Power Group Limited (ASX:BPG) is a diversified technology solutions group with a particular emphasis on securing Asian business opportunities.

Through Wimobilize, the Group has a new cutting edge technology solution, a proprietary Advance Hybrid Artificial Intelligence Big Data Technology Platform consisting of 31 Advance Analysis Engines, 4 levels of Hybrid Correlation and Al Profiling Algorithms customised for governmental, healthcare, banking, telco and tourism industries. This proprietary Big Data technology platform elevated the AI Predictive Analysis and deep insight intelligence to a new paradigm, applicable to any market segment.

This Wimobilize Big Data technology powered e-commerce ecosystem will provide the next generation innovative trading platform for distributing the Company's Australian wine, organic honey and honeycomb.



Michael Wee
Company Secretary
Byte Power Group Limited
T: +61-7-3620-1688

Link: Further update on Legal Action

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