NetCents Technology Provides Corporate Update
Vancouver, British Columbia – January 25, 2021 – NetCents Technology Inc. (CSE: NC) (FSE: 26N) (OTCQB: NTTCF) (“NetCents” or the “Company“), a cryptocurrency payments company, would like to provide a corporate update.
“We deeply appreciate your continued support as we work through this pandemic and paradigm-shift in how business is conducted. To say this year taught us a lot is an understatement. Our move to remote working was not as flawless as we would have liked, especially given that we already lived in what we thought was a digitized world,” said Clayton Moore, Founder and CEO of NetCents Technology. “COVID-19 led to an unprecedented abrupt remote work transformation with challenges in communication and productivity at scale that had never been anticipated as the pandemic ushered in a shift to remote work overnight.”
According to recent research, nearly all CIO’s-95%-reported that their organizations have been bogged down by inefficiencies since the COVID-19 pandemic accelerated a shift to a remote workforce. Sending employees to work from home in such a short timespan opened up new organizational challenges in corporate communication and a steep learning curve when it comes to setting employees up for success as they work from home. This has created an urgent need to push through initiatives that were once part of multi-year digital transformation programs. The sudden shutdown and the resulting hybrid work environment exposed technology and workflow gaps in organizations that require more investment in the coming months.
“We’ve had a lot to learn when it comes to setting employees up for success as they work from home,” added Mr. Moore. “As the pandemic has continued far longer than anticipated, we continue to identify issues and communication breakdown as they are identified and implement processes and procedures to mitigate them in the future.”
COVID-19 has completely upended how many businesses operate, leaving leaders scrambling to adjust to ‘new and different modes of work’1-and keep their employees happy and thriving through it all. To mitigate against future disruptions, such as the rapid transition to remote work resulting from COVID-19, companies will look to invest in new technologies and seek added capability from existing tools to accelerate their processes to digital transformation.
“While many aspects of NetCents have been thriving throughout this pandemic, like most companies, there have been some breaks,” concluded Mr. Moore. “Even though our product was built for this and this transition, many of the things we’ve been trying to solve for as a Company have intensified during this time – always-on hours, constant notifications, fragmented tools, and unfortunately, some areas of collaboration have fallen through the cracks. We’re hyper focused on implementing processes and procedures to address these issues and transform how remote work happens. Through this learning process, we think we better understand our employees and customers’ needs and are well positioned to evolve accordingly.”
The Company is in the process of hiring an additional Compliance executive that will help reduce the workload on a team that has been stretched thin by the rapid growth the Company has seen through its platform in 2020.
Management looks forward to updating investors on the many positive developments that are expected for the first quarter.
NetCents Technology Inc, the transactional hub for all cryptocurrency payments, equips forward-thinking businesses with the technology to seamlessly integrate cryptocurrency processing into their payment model without taking on the risk or volatility of the crypto market. NetCents Technology is registered as a Money Services Business (MSB) with FINTRAC.
On Behalf of the Board of Directors
NetCents Technology Inc.
Clayton Moore, CEO, Founder and Director
NetCents Technology Inc.
1000 – 1021 West Hastings Street
Vancouver, BC, V6E 0C3
Cautionary Note Regarding Forward-Looking Information
This release includes certain statements that may be deemed “forward-looking statements”. All statements in this release, other than statements of historical facts, that address events or developments that the Company expects to occur, are forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words “expects”, “plans”, “anticipates”, “believes”, “intends”, “estimates”, “projects”, “potential” and similar expressions, or that events or conditions “will”, “would”, “may”, “could” or “should” occur. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance, and actual results may differ materially from those in the forward-looking statements. Factors that could cause the actual results to differ materially from those in forward-looking statements include regulatory actions, market prices, and continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. Forward-looking statements are based on the beliefs, estimates, and opinions of the Company’s management on the date the statements are made. Except as required by applicable securities laws, the Company undertakes no obligation to update these forward-looking statements in the event that management’s beliefs, estimates or opinions, or other factors, should change.