MoneyOnMobile Announces Conversion of $3.8 Million in Debt for Equity

Debt conversion provides immediate financial flexibility

Friday, February 2, 2018 — MoneyOnMobile, Inc. (OTCQB: MOMT) announced the conversion of approximately $3.03 million of outstanding principal owed under secured subordinated promissory notes and approximately $745,000 of related unpaid interest into 3,778 shares of the Company's Series G Preferred Stock.

"We are pleased to have our stakeholders see the value of owning equity and we are grateful they chose to provide us with this financial flexibility. It indicates validation of our ongoing effort to reduce debt, improve our balance sheet, and increase our working capital position so that we can improve upon the strong growth we experienced in 2017," said Harold Montgomery, Chairman and CEO of MoneyOnMobile, Inc.