NEW YORK, NY / ACCESSWIRE / March 20, 2018 / SeeThruEquity, a leading independent equity research and corporate access firm focused on smallcap and microcap public companies, today announced it has issued an update on IEG Holdings Corporation (IEGH).

The report is available here: IEGH March 2018 Update Note.

IEG Holdings Corporation (IEGH) provides online unsecured consumer loans under the brand name "Mr. Amazing Loans" via its website, www.mramazingloans.com, in 20 US states. The company offers $5,000 and $10,000 personal loans over a five-year term at rates ranging from 19.9% to 29.9% APR. IEG Holdings plans future expansion to a total of 25 US states, which would cover 240mn people and represent approximately 75% of the US population.

Since 2013, IEGH has obtained additional state lending licenses, and they are licensed and originating direct consumer loans in 20 states including: Alabama, Arizona, California, Florida, Georgia, Illinois, Kentucky, Louisiana, Maryland, Missouri, Nevada, New Jersey, New Mexico, Ohio, Oregon, Pennsylvania, Texas, Utah, Virginia, and Wisconsin. The Company was founded in 2010 and is headquartered in Las Vegas, Nevada.

Highlights from the note include:

IEGH Updates Cryptocurrency Plans

On March 14, 2018, IEGH announced that, after considering the potential risks and benefits, it would not pursue a cryptocurrency offering or related cryptocurrency strategy at this time. IEGH stated that it would continue to follow the evolving regulatory landscape of cryptocurrency and may opt consider cryptocurrency strategies in the future. The company will continue to explore the potential adoption of blockchain technology in its core consumer lending business.

Investment Evolution Coin Ltd. of Singapore to Explore New Cryptocurrency

As part of the same announcement, IEGH CEO, Chairman, and majority shareholder Paul Mathieson stated that Investment Evolution Coin Ltd. ("IEC Ltd"), a Singapore-incorporated public unlisted company which is also majority-owned by Paul Mathieson, was exploring the launch of a new cryptocurrency in Singapore, as well as select other jurisdictions, to be called Investment Evolution Coin ("IEC"). According to the release, IEC will initially be intended to facilitate the payment of remittances to the Philippines by Filipino Overseas Foreign Workers located in Singapore, USA and Australia. IEC Ltd. stated that it has engaged California-based Blockchain company HashCash Consultants to implement and launch its new IEC cryptocurrency. Founded in 2015, Hascash Consultants enable enterprises to move assets and settle payments across borders in real-time using Blockchain Technology through its network HC NET.

Mathieson Intends to Distribute IEC Ltd. Shares to IEGH Shareholders

Mathieson stated that he intends to provide each IEGH shareholder of record as of April 30, 2018, with the opportunity to receive the same number and percentage (on a fully diluted basis) of ordinary fully paid up shares in the issued share capital of IEC Ltd, as the number and percentage of shares of IEGH common stock held by such shareholder. We understand the announcement to mean that for every share of IEGH owned and fully settled as of April 30, 2018, shareholders will have the option to receive one share of IEC Ltd., and that the total number of fully diluted shares in IEC Ltd. will equal that of IEGH.

No Change to Price Target

Our price target is unchanged at this time for IEGH. IEGH is a high-risk, high potential reward company in the consumer finance sector. We are intrigued by the announcement that IEGH shareholders as of April 30, 2018, will have the option to participate in a contemplated offer by CEO Paul Mathieson to receive shares of IEC Ltd, as this potentially offers upside to the existing consumer loan business, if the company is successful in creating value with Investment Evolution Coin.

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About IEGH Holdings Corporation

IEG Holdings Corporation provides online $5,000 and $10,000 unsecured consumer loans under the brand name, "Mr. Amazing Loans," via its website, www.mramazingloans.com. For more information about IEG Holdings, visit www.investmentevolution.com.

About SeeThruEquity

Since its founding in 2011, SeeThruEquity has been committed to its core mission: providing impactful, high quality research on underfollowed smallcap and microcap equities. SeeThruEquity has pioneered an innovative business model for equity research that is not paid for and is unbiased. SeeThruEquity is the host of acclaimed investor conferences that are the ultimate event for publicly traded companies with market capitalizations less than $1 billion.

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SOURCE: SeeThruEquity