Attached files

file filename
EX-99.3 - EXHIBIT 99.3 THESTREET INTERVIEW - MoneyOnMobile, Inc.thestreetpressrelease.htm
EX-99.2 - EXHIBIT 99.2 UNSECURED CREDIT FACILITY - MoneyOnMobile, Inc.newunsecuredcreditfacility.htm
EX-99.1 - EXHIBIT 99.1 - MoneyOnMobile, Inc.redchippressreleasewilldaw.htm
EX-10.1 - EXHIBIT 10.1 LOANAGREEMENT - MoneyOnMobile, Inc.loanagreement.htm



SECURITIES AND EXCHANGE COMMISSION
 
Washington, D.C. 20549
 
FORM 8-K
 
CURRENT REPORT

Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
 
Date of report (Date of earliest event reported): December 12, 2016 (December 6, 2016)

moneyonmobilelogoa05.jpg 

MoneyOnMobile, Inc.
 
(Exact Name of Registrant as Specified in Its Charter)
 
Texas
 
000-53997
 
20-8592825
(State or Other Jurisdiction
of Incorporation)
 
(Commission File Number)
 
(I.R.S. Employer
Identification No.)
500 North Akard Street, Suite 2850, Dallas, Texas
 
 
 
75201
(Address of principal executive offices)
 
 
 
(Zip Code)
 
Registrant's telephone number, including area code: (214) 758-8600
 
Not Applicable
(Former name, former address and former fiscal year, if changed since last report)
 
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
 
¨            Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
 
¨            Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
 
¨            Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
 
¨            Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))






Item 2.03
Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.

$1.5 Million Unsecured Lending Transaction

On December 6, 2015, My Mobile Payment Limited (“MMPL”), a subsidiary of MoneyOnMobile, Inc. (the "Company") entered into a Loan Agreement (the “Loan Agreement”) with YES BANK Limited (the “Lender”), pursuant to which the Lender extended an unsecured credit facility to the Company totaling INR 100 million or approximately USD 1.5 million (“Credit Facility”). As part of the agreement, a MoneyOnMobile, Inc. shareholder provided the lender with a USD 2.0 million standby letter-of-credit in order to assure repayment by MMPL of any amounts borrowed from the Lender. Borrowings under the Credit Facility are at a variable rate based on 2.1% over a base rate, which is currently equal to 9.5%. The resulting aggregate interest rate on the Credit Facility totals 11.6% and matures in December 2017. In the event of a default, the Lender may seek standard remedies. The foregoing descriptions of the Loan Agreement and related agreements do not purport to be complete and are qualified in their entirety by reference to the complete text of the Loan Agreement, which is filed as Exhibit 10.1 hereto and incorporated herein by reference.

Item 7.01    Regulation FD Disclosure
 
On December 7, 2016, the Company issued a press release announcing Executive VP, Will Dawson, was recently interviewed on The RedChip Money Report television program. The press release is attached hereto as Exhibit 99.2.

On December 8, 2016, the Company issued a press release announcing the $1.5 Million Unsecured Lending Transaction with YES BANK Limited. The press release is attached hereto as Exhibit 99.1.

On December 12, 2016, the Company issued a press release announcing  that Chairman and CEO Harold Montgomery, was recently interviewed on TheStreet online business news program. The press release is attached hereto as Exhibit 99.3.

In accordance with General Instruction B.2 of Form 8-K, the information and exhibits attached hereto in this Section 7.01 shall not be deemed "filed" for the purposes of Section 18 of the Securities Exchange Act of 1934, nor shall it be deemed incorporated by reference in any filing.


 

Item 9.01    Exhibits

Exhibit No.
 
Description
10.1
 
Facility Letter with YES BANK Limited
99.1
 
Press Release: The RedChip Money Report Press Release
99.2
 
Press Release: New Unsecured Credit Facility Press Release
99.3
 
Press Release: TheStreet Press Release



SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this Report to be signed on its behalf by the undersigned, hereunto duly authorized.
 
 
 
 
 
 
 
 
MONEYONMOBILE, INC.
 
 
 
Date: December 12, 2016
 
By:
 
/s/ Scott S. Arey
 
 
 
 
Scott S. Arey
Chief Financial Officer







Exhibits

Exhibit No.
 
Description
10.1
 
Facility Letter with YES BANK Limited
99.1
 
Press Release: The RedChip Money Report Press Release
99.2
 
Press Release: New Unsecured Credit Facility Press Release
99.3
 
Press Release: TheStreet Press Release