NetCents (CSE:NC, OTC:NTTCF) Technology Inc. has announced the addition of Frank Amaro and Jason Dukowski as the company's new independent directors.
"We are thrilled to have both Frank and Jason join us as Independent Directors at NetCents," said Clayton Moore, Founder and CEO of NetCents Technology in a statement. "Their unique career experiences have brought great success to multiple organizations. It's clear to me that their new roles will be pivotal in helping to position NetCents for significant future triumphs."
The company pointed out that Amaro is an industry veteran and a strategic business leader in the distributed ledger and blockchain space having spent 17 years in JP Morgan's commodity trading group where he successfully built JPM's Platinum Group Metals business. He has leveraged his experience both at JP Morgan and as an angel investor and entrepreneur to help start-ups successfully navigate anticipated regulatory changes.
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It said Amaro's interest in the cryptocurrency industry evolved from his initial purchase of Bitcoin in 2014. He is an original member of Blockchain Capital's AngelList syndicate and the co-founder of Block5, an early-stage investment and advisory firm. In addition to his influence in the crypto world, Frank also serves as a Fintech advisor to the London Bullion Metals Association (LBMA).
Netcents noted that Dukowski is a seasoned finance, risk, and compliance executive with over 20 years of experience in government and corporate operations, information and privacy legislation, business continuity, change management strategies, and risk mitigation. Throughout his career, he has consulted and provided leadership to businesses in the areas of governance, compliance, risk management, anti-money laundering, and financial planning.
The company added that as an entrepreneur and business owner, Dukowski has maintained a robust client-base. In previous roles, he provided unparalleled advice, and implementation strategy to his clients. As the company's new independent director, he will apply his expertise in risk, compliance, and government policy to further develop NetCents' risk assessment approach, and compliance strategies.
With all of the recent additions to our team, NetCents said it continues to evolve on several fronts.
Annual financial statements filing
The company also provided an update with respect to filing its annual financial statements, management's discussion and analysis and related officer certifications for the financial year ended October 31, 2020.
Over these past few weeks, it said the NetCents Accounting Department has continued to work diligently to provide its auditors with all required information. The company has also implemented several internal changes to help eliminate delays in the future. NetCents announced that it has retained Branson & Co to supplement its internal accounting staff for current and future accounting tasks.
Despite the unexpected delay in filing its year-end audit, the company said it continues to cultivate and grow an engaged merchant base. On an operational level, NetCents has maintained its focus on successfully implementing an omnichannel sales and marketing approach. The onboarding of new merchants has only accelerated in the past few months, and new strategic relationships continue to develop. In addition to these efforts, management has launched a new roadmap for global growth, looking to expand the company's geographic footprint beyond North America and Europe.
The company said it is looking forward to the completion of the audit process, and the resumption of trading on all previous markets.
NetCents Technology, a transactional hub for all cryptocurrency payments, equips forward-thinking businesses with the technology to seamlessly integrate cryptocurrency processing into their payment model without taking on the risk or volatility of the crypto market. The company is registered as a Money Services Business (MSB) with FINTRAC.
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