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Off-market insider selling at IOU Financial (V:IOU)

Updated Friday Apr 21, 2017 01:48 AM EDT

FinTech Ventures Fund LLLP, a 10% Holder, disposed of 7,000,000 Common Shares on a direct ownership basis at a price of $0.500 through a private transaction on April 18th, 2017. This represents a $3,500,000 divestment of the company's shares and an account share holdings change of -53.8%.

IOU Financial is in the Corporate Financial Services Sub Industry Group under the Financials Sector.

IOU Financial Inc. (IOU Financial) operates an Internet-based lending platform in the United States for owner-operated businesses with daily sales, such as medical and dental practices, grocery and retail stores, restaurants and hotels, franchisees and e-commerce companies, through its subsidiary, IOU Central Inc. (IOC USA). The Company allows these businesses to apply for approximately six, nine, 12, 15 and 18 month loans. The Company operates through activities, such as lending and servicing. Its lending activity originates and retains loans as part of its loans receivable portfolio. The Company finances its lending activities in part by selling some of its commercial loans receivable to third party purchasers and one related party on a non-recourse basis and retaining the servicing rights for these loans in exchange for a service fee. Its servicing activity services loans that have been sold to third party purchasers on a non-recourse basis in exchange for a servicing fee.

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Go to IOU Financial Inc. (IOU)'s company page

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