Plyzer Technologies Inc provides an update on YYZBCN funding for Plyzer Spain
Plyzer Technologies Inc (OTCMKTS:PLYZ)
BARCELONA, SPAIN, April 5, 2021
Further to the last two press releases issued on October 28/2020 ( https://www.plyzertechnologies.com/2020/10/plyzer-technologies-provides-corporate-update/) and December 16/2020 ( https://www.plyzertechnologies.com/2020/12/plyzer-technologies-provides-corporate-update-2/ ), the company wishes to provide the following update.
As per the previously announced financing agreement between YYZBCN Inc (YYZ) and Plyzer Spain (PS), YYZ has now advanced 1.3 M Euros to PS.YYZ is a privately held company based in Toronto, Canada.
Software sales (gross revenue) for the last twelve months of the Plyzer Intelligence software solution by PS totalled EUR 367 K (unaudited). YYZ has not as yet converted anymore of its advances into common share equity of PS though it has notified the company that it will in due course. At this point, YYZ controls 51 % of PS.Plyzer Technologies has not made any new advances to PS as per the agreement with YYZ as the company has not had any funds to do so.
With respect to bringing Plyzer Technologies current with its financials, the company now has some money such that it can pay the auditors to complete the year-end financial statement for March 31/2020. The company has also made arrangements to pay the transfer agent of record such that the company’s account is fully paid up and current. Convertible note (debt) holders converted USD 138794.38 ( two separate funds) this past quarter. As of today, there are 17,084,001,111 common shares outstanding. Convertible debt still stands at around $1.2 M (face value).