Reprinted from: http://www.4-traders.com/TMT-INVESTMENTS-PLC-6978570/news/TMT-Investments-PLC-Investment-in-UsingMiles-Inc-14472341/
The Board of TMT is pleased to announce the completion of an investment in UsingMiles Inc. (“UsingMiles”). Incorporated in Delaware, UsingMiles helps its members keep track of when their miles or rewards expire, alerts them to special promotional programmes available and helps them find efficient ways to spend their rewards through a “one stop” easily accessible service. UsingMiles currently has over 63,000 members managing over ten and a half billion miles, points and credits, with an asset value estimated to be valued higher than US$200 million, on www.usingmiles.com.
As part of a series A equity financing round, TMT has acquired 1,093,614 preferred shares in UsingMiles for an aggregate consideration of US$250,000. Assuming the series A equity round is fully subscribed.
Reprinted from: http://www.4-traders.com/TMT-INVESTMENTS-PLC-6978570/news/TMT-Investments-PLC-Investment-in-UsingMiles-Inc-14472341/