Advantego Introduces Financial Tool to Accurately Calculate and Report Convertible Notes

DENVER, CO, Nov. 01, 2018 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE – Advantego Corporation (OTCQB: ADGO) today announced the rollout of its Business Services Division’s first financial reporting tool, a specialized Business Process as a Service (BPaaS), offered as the Convertible Note Disclosure Report (CNDR) portion of audited reports to the U.S. Securities and Exchange Commission for publicly-traded companies.

Advantego’s Business Services Division will provide a unique suite of products powered by the Company’s Intelligent Solutions Platform to address specific niche functions within targeted industries, one of which happens to be convertible note disclosures.

“We have identified several opportunities where utilizing our platform can greatly increase operational efficiencies with tremendous cost savings,” according to Robert W. (Rob) Ferguson, Advantego CEO.

The CNDR uses key details found in a Convertible Note and generates the pertinent supporting information needed for various financial reports and disclosures required by the SEC. It automatically propagates relevant Stock Price History from publicly-available sources and formulates the applicable Trading History and Adjusted Closing Prices specified in the Convertible Note for its calculations.  These calculations can then be used by a company’s accounting teams, CFO's and auditors as supporting documentation for the creation of journal entries and, ultimately, various public disclosure reports.

The CNDR generates the following based on the information submitted:  Debt Premium and Debt Discount calculations, Share Related allocations, Principal and Note Premiums booked to Common Stock and Paid in Capital, a Corresponding Amortization Schedule, appropriate Accounting Journal Entries and the Footnote text to be incorporated with SEC filings.

Ferguson also said: “As a fully-reporting public company, we have been able to assess firsthand the extraordinary value of this new product.  We are excited to offer this product to other SEC reporting companies, third party consultants and auditors to help streamline their reporting and accounting procedures, minimizing their costs and to help mitigate the need for untimely extensions to file; all problems which we have found to be common in the industry.”

Ferguson continued: “The is the first of a number of financial reporting products we plan on releasing over the next several months.  We expect to include modules that address Rolled-up Equity, Rolled-up Debt, Diluted Weighted Average Shares and other components that contribute to a Consolidated Financial Statement.”

SEC reporting companies can visit http://www.advantego.com/CNDR to obtain more information about the tool and obtain a complimentary Convertible Note Disclosure Report.

ABOUT ADVANTEGO CORPORATION

Advantego Corporation designs, develops and implements digital communications and intelligent software solutions as specialized Business Process as a Service (BPaaS).  The elite, custom business solutions are available to large enterprises, affiliate networks and franchise operations.  The Company also offers a variety of stand-alone products specific to targeted industries.  Company website: www.advantego.com.

FORWARD LOOKING STATEMENTS

This news release may contain forward-looking statements within the meaning of the Securities Act.  As a general matter, forward-looking statements may reflect our current expectations and projections relating to our financial condition, results of operations, plans, objectives, future performance and business.  These statements may be identified using forward-looking terminology such as "may", "will", "expects", "plans", "estimates", "anticipates", "projects", "intends", "believes", "outlook” and similar expressions.  The forward-looking statements contained in this news release are based upon our historical performance, current plans, estimates, expectations and other factors we believe are appropriate under the circumstances.  The inclusion of this forward-looking information is inherently subject to risks and uncertainties, many of which cannot be predicted with accuracy and some of which might not even be anticipated.  Future events and actual results, financial and otherwise, may differ materially from the results discussed in the forward-looking statements.  Statements regarding the following subjects, among others, may be forward-looking: our business and investment strategy; our projected operating results; estimates relating to our ability to make distributions to our stockholders in the future and economic trends. 

CONTACT:
GREG McANDREWS & ASSOCIATES
Gregory A. McAndrews
(310) 804-7037
mcandrews_pr@hotmail.com

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