Blockchain software company DigitalX Limited (ASX: DCC) today affirmed that it has now entered into agreements with investors for the initial $300,000 in convertible notes previously announced on March 20th, 2017. Settlement and issue of the notes is expected to occur on March 29th, 2017.
DigitalX also notified that the total amount of funding (subject to KPIs relating to operational targets including product enhancements and rollout, marketing activity and internal management reviews) has been increased from $1 million to $1.25 million.
DigitalX, together with Ironside Capital, has been working over the past few days to determine the best use of these initial funds received.
AirPocket continues to expand its reach, now open for money transfers from 13 Latin American countries as well as the Philippines. The launch of AirPocket into the Philippines marks a further development breakthrough as for the first time, AirPocket is available outside of the Americas.
Now that the AirPocket app has been live for a period of time and the company has been in a position to receive feedback on both user interface (UI) and user experience (UX) matters, the company will be using the funds received to implement programs around improving the UI and UX of AirPocket and improving the product further heading into its first full marketing campaign.
The company believes the expenditures into the aforementioned items should enable DigitalX to be in the best position to meet deliverables relating to the now remaining $950,000 in notes referred to in the March 20th, 2017 announcement.