There has been a number of OTC (Over-The-Counter) Penny stocks over the last decade that was successfull in making the leap from OTC to NASDAQ. However, a recent report showed that only 8% of fully reporting OTC stocks ever make to NASDAQ, and out of that 8%, only 27% of those stay on the NASDAQ for more than 2 years.
Looking to capitalize on the recent release of Uber and Lyft’s IPO, Beta Music Group Inc under the stock symbol BEMG (name to be changed soon to MBO Holdings Inc), recently announced that its subsidiary, Get Credit Healthy (“GCH”), and Driveitaway, Inc. have entered into an agreement aimed at improving the lives of drivers for ride sharing companies, such as Uber and Lyft. DriveItAway is the first dealer-focused enabler for franchise and independent dealers to enter the business of Mobility as a Service – Car Sharing for Ride Share (Lyft, Uber) Drivers, vehicle subscriptions, etc.
In addition, BEMG just released news that they have signed a significant deal with “ARIVE”, significantly bolstering its position in the market.
What does this new “ARIVE” deal mean for BEMG?
- Signed exclusive partnership with ARIVE, a technology platform designed to allow the Association of Independent Mortgage Experts (AIME), access to lenders, borrowers, third-party vendors in a seamless ecosystem.
- Get Credit Healthy, through their partnership with ARIVE and AIME, will service up to 35,000 mortgage brokers or approximately 16% of the Mortgage Market.
- Get Credit Healthy is working with a network of more than 20 wholesale lenders, including 5 of top 10 in the country which makes up nearly 50% of wholesale market including United Wholesale Mortgage (#1), Caliber Home Loans (#2), Stearns Lending (#3), Flagstar Bank (#7) and Home Point Financial (#8).
What does this new “DriveItAway” deal mean for BEMG?
- Signed exclusive partnership with DriveitAway, Inc. to improve the financial health of drivers for ride sharing companies, such as Uber (3.0 million drivers) and Lyft (1.4 million drivers).
- Uber and Lyft integrate Get Credit Healthy’s technology into DriveItAway’s platform to create a path for its drivers to own their own car.
- An estimated 40% of Uber and Lyft drivers do not have qualifying vehicles so they need the DriveItAway platform of renting cars and Get Credit Healthy’s technology.
- DriveItAway is offering Uber and Lyft drivers access to GCH’s credit coaching resources to all of its consumers at no additional cost to them in order to make that “path to ownership” a little less arduous.
This is the first Penny Stock to score a partnership with the leaders in the Drive-Share industry, that of Lyft and Uber. However, while most investors are still focusing on the Uber and Lyft deals, BEMG actually has 1 other deal that might be even bigger.
Today, BEMG announces that it has signed a non-binding Memorandum of Understanding (“MOU”) for a Long Term Strategic Co-Marketing Affiliation Agreement with ChoiceTrade Holdings, Inc., an advanced-technology securities brokerage firm with the most state-of-the-art tools servicing self-directed traders and offering great opportunities for realizing success in their trading strategies.
Elizabeth Karwowski, CEO of BEMG subsidiary Get Credit Healthy, Inc. stated
“We are very excited to be signing this MOU with ChoiceTrade, which includes a number of developmental areas within the strategic co-marketing agreement that will mutually grow both of our firms to be among the pioneers and leading providers in the fin-tech industry. Our intelligence solutions will enhance interactivity with current as well as new clients and the inclusion of our technology portals and marketing channels to innovate the customer engagement process is a testament to our commitment to excellence in servicing our clients. This strategic co-marketing affiliation with ChoiceTrade marks a new milestone to exponentially grow our operations and compliments our long-term development strategy to globally market our services. We are very pleased to be included as an integral part of ChoiceTrade’s growth strategy. This MOU is in line with our recently announced expansion into the automobile sector via our partnership agreement with DriveitAway, Inc. and our expansion into the realtor sector via our partnership agreement with ARIVE, LLC and reflects the relationship of mutual trust in our recognized expertise and experience.”
BEMG also recently announced a significant reduction in common shares. As you can see, BEMG’s market cap has dramatically reduced following the reduction in common shares, yet the share prices has yet to reflect this. Taken together, analysts believe that the share price will catch up with the adjusted market cap now that the share structure has been updated, and will be magnified by the recent partnerships BEMG has signed.