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App evaluation

The main objective of the fund is to finance the creation and promotion of the Gem4me application in the world, the ultimate goal is to sell the application and distribute income among shareholders in accordance with the share packages. To speed up negotiations with potential buyers, it is planned to regularly evaluate the application by independent audit companies, including companies from BIG-4.

The first evaluation of the Gem4me application was conducted by the audit company Camilleri Spiteri Advisory Services Ltd (Malta). As of March-April 2017, when the evaluation procedure was started, the application had Seychelles jurisdiction and about 2 million customers. Given these decreasing factors, the application was estimated at € 41,100,000 (about $ 47.1 million). At the same time, the report reflects that the average cost of the client messenger on the market is about $ 71. The transition to the Maltese jurisdiction, the completion of the development of the application and the growth in the number of clients make it possible to expect a multiple increase in appraisal by independent auditors.

GEM4ME Investments PLC_10072017_FINAL.pdf

The second appraisal of the cost of the Gem4me application was conducted in September 2017 by an independent audit firm SIA DOMA AUDITS (Latvia). As of September 2017, the number of messenger users was 3 055 043 customers. The estimated cost of the messenger has almost doubled, compared to the first estimate, and amounted to $ 86.7 million.