SeanieMac International Ltd (OTCMKTS:BETS) said that January 2015 was most profitable month for the company since its inception in 2013. The turnover revenue was almost $888.770 in January. The company also announced exclusive marketing deal with Overseas BC Marketing Inc. that allows for Bitcoin wagering.
SeanieMac International Ltd (OTCMKTS:BETS) informed that it had entered into an exclusive marketing deal with Overseas BC Marketing, Inc. pursuant to which Overseas will market its online web-based waging products and services. The marketing deal will offer a platform that permits for revenue sharing on new accounts acquired by Overseas BC Marketing. The deal will allow clients to use virtual crypto-currency for wagering. The company believes it is an attracting offer for many customers.
The use of Bitcoin is prevalent at several places. However, Overseas BC and SeanieMac International Ltd (OTCMKTS:BETS) do not permit wagering from U.S. citizens. The deal will be at the forefront allowing Bitcoin to be used for wagering. It credibility in the wagering markets will give customers confidence in interfacing and utilizing company’s platform for fulfillment of the same objective.
In unrelated news, SeanieMac International Ltd (OTCMKTS:BETS) announced credit line for $5 million in financing. It can pay back the amount in the form of shares but only at the discretion of and process approved by the company. There is no fee associated with a credit line. It has no open end conversion feature. Also, SeanieMac’s reported there is no toxic feature attached to the credit line. As a result, lender can continue to translate it at lower prices.
The management view
SeanieMac International Ltd (OTCMKTS:BETS) and the lender have forecasted the average conversion price for credit facility at 6.25 cents. It is estimated for the purposes of regulatory filings. Shane O’Driscoll, the CEO said that the company has no intention of using the entire facility at this time. There is a need of a small part of the credit line to substantially expand the size of business.