HOTAPPINC WASHINGTON, DC / ACCESSWIRE / July 20, 2015 / HotApp International Inc. ("HotApp" or the "Company") (OTC: HTPN) is pleased to announce that its major shareholder, Singapore eDevelopment Limited ("SeD"), has agreed to convert its total loan of $3,888,435.10 into equity for 777,687 shares of common stock in HotApp, representing a $5 per share conversion price.
Mr. Chan Heng Fai, Chief Executive Officer of HotApp, said: "The loan conversion underscores the confidence and support of our major shareholder. The Company is now debt-free and this investment improves our positioning for a potential uplisting to a national exchange and the attraction of new investors."
Mr. Vincent Lum, Chief Technology Officer of HotApp, said: "We are pleased to have SeD's support for HotApp's business plan. Our team of developers remains dedicated to developing a mobile platform that attracts and engages users, thereby driving value to our shareholders."
About HotApp
HotApp is an integrated community and e-commerce platform for people, communities and brands around the world. HotApp's open platform connects people across HotApp communities and other external IM applications, creating an international social network with limitless opportunities for content creation and direct consumer engagement. By leveraging built-in geolocation services and targeted data analytics, HotApp offers a highly personalized experience based on each user's unique activities, interests and needs.
HotApp's diverse suite of mobile communication services includes audio calls, online SMS and instant messaging. HotApp seeks to enrich users' lives by uniting global communities through shared experiences, while connecting millions of consumers to their favorite brands.
For more information, please visit: www.hotappinternational.com.
Media & Investor Contact Information
WeR1 Consultants Pte Ltd
Contact: email: ir@hotappinternational.com
Telephone: US: 202.524.6869 International: +65 6737 4844
Ian Lau, ianlau@wer1.net | Grace Yew, graceyew@wer1.net
Safe Harbor Statements
This press release includes certain "Forward-Looking Statements" within the meaning of section 21E of the Securities Exchange Act of 1934, as amended. All statements regarding potential results and future plans and objectives of HotApp International, Inc. are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from our expectations include, but are not limited to, those factors that are disclosed under the heading "Risk Factors" and elsewhere in our documents filed from time to time with the Securities and Exchange Commission.
The contents of this press release are presented as a general overview of the company. It is intended only to contain general information regarding the company and its business and does not purport to provide complete disclosure or analysis of all matters, which may be relevant to a decision to make an investment, including all risk factors or similar considerations. Although the information is believed current as of the date herein, the information may be subject to change, amendment or supplementation, and the company does not expect, and assumes no obligation, to update or otherwise revise the information herein.
SOURCE: HotApp International Inc.
