TPT Global Tech Inc. (OTC:TPTW) Stock In Focus After Latest News

The leading telecom and technology industry innovator TPT Global Tech Inc. (OTC:TPTW) is one of the companies that may come on the radars of investors this week. On July 24, the company hit the news cycle after it announced the effectiveness of its Post-Effective Amendment Form S-1 pertaining to the $3000000 Standby Equity Commitment Agreement with MACRAB LLC with the SEC.

It was a significant new development for TPT Global Tech since the agreement, along with the Registration Rights Agreement, would provide the company with the ability to tap into weekly financial tranches. In the news release, it was also noted that further details about the Standby Equity Commitment Agreement had also been made available on the SEC filing made by TPT Global Tech. The financing agreement, which could be extended for up to 24 months, would supply the company with capital that would support its growth programs and help with the eventual launch of the VuMe Super App.

In this context, investors need to note that the VuMe Super App would bundle a range of digital services like multimedia streaming, social media, and mobile payments into a solitary service. More importantly, the company expects the VuMe Super App to help in the reduction of its debt burden. The Chief Executive Officer of TPT Global Tech, Stephen Thomas, spoke about the latest development yesterday. He stated that the Standby Equity Commitment Agreement was a demonstration of the confidence that the company’s partners had in its strategic vision and overall direction.

Thomas went on to add that the availability of financing tranches on a weekly basis would also provide TPT Global Tech with the extra flexibility to speed up the development and the eventual launch of the VuMe Super App. He concluded by stating that the app would change the way users engaged across a number of platforms.