LEHI, Utah, May 15, 2019 (GLOBE NEWSWIRE) -- Appliqate (APQT) ("Appliqate" or the "Company"), a Wyoming Corporation, announces the acquisition of CentsApp, a UTAH company, effective immediately.
CentsApp is an online bill-pay and debt reduction platform. CentsApp makes monthly payments using the roundups from members purchases to help erase compounding interest on your debt, with the goal of saving the average member hundreds of dollars. Using Cents, members make small, manageable payments using the spare change from their everyday purchases. By paying early and often, members prevent interest from compounding, saving both time and money. The lead investors for CentsApp were Adam Nugent of Foresight Wealth Management - Draper Utah and Tyler Dickman. Adam Nugent stated “This is a great opportunity for CentsApp and Appliqate to create a very effective financial tool that helps people reduce debt and pay their bills using both traditional currency and cryptocurrecy.
Combining CentsApp with Compchain will give the users an ability to pay their bills online using Compcoin(Coco) directly from a crypto wallet. The combination enables immediate and secure cryptocurrency payments to thousands of vendors. Compcoin is a Sha-256 POW hashing algorithm that is used for the Compchain digital payments platform.
Members of Compchain can buy or earn the crytpocurrency Coco. Once a member has Coco they can spend the cryptocurrency on the Cents platform. The consumer’s cryptocurrency will be converted to U.S. dollars in real time for payment to the merchant. This is invisible and frictionless to both the consumer and the merchant.
“This is the first time real life bills can be paid with cryptocurrency in a seamless and transparent way.” said Appliqate CEO Darren Olayan in a statement. “The legacy payment systems are complicated and costly. This solution provides a way for cryptocurrencies to solve the problems for everyday working people.
Finally the power of the blockchain is being delivered to the masses in an impactful way.”
Forward-Looking Statements: This press release contains “forward-looking statements” within the meaning of Section 21E of the Securities Exchange Act of 1934. Except for historical matters contained herein, statements made in this press release are forward-looking statements. Without limiting the generality of the foregoing, words such as “may”, “will”, “to”, “plan”, “expect”, “believe”, “anticipate”, “intend”, “could”, “would”, “estimate,” or “continue”, or the negative other variations thereof or comparable terminology are intended to identify forward-looking statements. Forward-looking statements involve known and unknown risk, uncertainties and other factors which may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Also, forward-looking statements represent our management’s beliefs and assumptions only as of the date hereof. Additional information regarding the factors that may cause actual results to differ materially from these forward-looking statements is available in the Company's filings with the SEC including the Current Reports on Form 8-K and the Quarterly Reports on Form 10-Q and Annual Reports on Form 10-K. Except as required by law, we assume no obligation to update these forward-looking statements publicly or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future.
For Inquiries:
Una Taylor,President ,
385-429-2702,
Una@appliqate.com