Company: EGG
Filing Date: 2025-03-04
Form Type: DRS/A
Source: 0001493152-25-008991
Chunk: 111

Company: ENIGMATIG LTD
Filing Date: 2025-03-04
Form: DRS/A
Chunk 111
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 checks, transaction monitoring, and risk profiling and risk assessment. We provide such services through Apps a software system we license from a Denmark-based third-party partner. This software system is able to generate a comprehensive report which will assist our clients’ compliance team to reduce the man-hours needed as compared to traditionally methods of manually checking through data bases. It also makes KYC and AML checks simpler for non-financial institutions who wish to implement such systems, but may not have trained experts in compliance. Our ability to aggregate the requests of all our clients allows them to avoid the expense of mandatory minimum search requirements or costly set up and maintenance fees they would otherwise face. We launched an App licensed from such third-party partner in November. As of December 31, 2024, we had four clients using this App for regulatory technology services and are currently marketing it to additional prospective clients. Such services are priced on the basis of our cost from third-party providers plus a mark-up. We plan to significantly expand our offerings in this area going forward either through acquisition, strategic arrangements with existing service providers or building our own proprietary systems, depending on availability of appropriate acquisition targets or strategic partners, acquisition cost. To the extent we identify opportunities to expand our fintech services through purchase or potential combination with other companies in the fintech space, we will consider such opportunities on a case-by-case basis. As of the date of this prospectus, we have not identified any specific opportunities which we are considering. See “—Our Strategies—Increase and Diversify our Services Portfolio.”

Terminated Services -Historically, we offered a number of additional financial technology services to our clients. Such services included the following:

| ● | White                                                                                       
 Label Services: we provided foreign exchange white label solutions to help brokers start    
 their own businesses quickly and at affordable prices by offering sub-licenses of a foreign 
 exchange trading platform at a fraction of the cost of a primary license. Such platform was 
 able to be linked to our CRM platform and customized to offer a wide range of functions and 
 display interface options depending on the preferences of our client.                       |

System Volume Services: we served as intermediaries between our clients and liquidity providers, linking the trading platform used by our clients with liquidity providers, allowing our clients to offer liquidity directly to their customers. We charged a small commission based on the amount of any liquidity provided.

We stopped providing the above services in July 2022. In Fiscal 2022, income from these terminated services accounted for US$70,427, accounting for