What Happened?

About the Company

SelectCore Ltd., together with its subsidiaries, provides transaction processing and point-of-sale electronic distribution solutions for the prepaid telecom and financial services markets in the United States and Canada. The company through, its PrepaidONE platform and retail network, offers wireless top-up cards, stored-value cards, and a suite of prepaid products and services to credit-challenged and unbanked consumers. SelectCore also provides its proprietary Iridium Prepaid MasterCard, a prepaid open-loop stored value card, as well as ReCash Vouchers to load cash onto their reloadable prepaid Visa or MasterCard cards. In addition, it offers wholesale services and private-label programs for the prepaid telecom and financial markets, as well as customizable private-label and licensing solutions for its PrepaidONE point of sale platform. Further, the company’s wholesale services include transaction processing, point of sale activation, long distance switching and termination, IVR applications, SMS applications, merchant and end-user support, open-loop stored-value cards, long distance phone cards, home phone and Internet, custom platform development, program management, distribution and fulfillment, billing and ACH, and marketing support services. SelectCore Ltd. offers its solutions to retailers, distributors, independent sale organizations, and telecom carriers and providers. The company was founded in 1999 and is based in Toronto, Canada.

About the Person

Mr. Fareed Sheik has been an Acting Chief Financial Officer at Selectcore Ltd. since October 2013. Mr. Sheik serves as the Managing Partner of Fareed Sheik Professional Corporation, a full service accounting, assurance, tax and business consulting company. He has over 12 years of experience in Audit, Tax and Consulting engagements across different industries. Mr. Sheik worked for Ernst & Young in India and Deloitte in Canada exposing himself to various compliance and accounting issues faced by Fortune 500 Companies. He also served in the industry for a short time as group internal auditor for a leading service company. His areas of specialization include IFRS readiness, Canadian GAAP and US GAAP reporting, SOX and Bill 198 compliance audits, internal control documentation and testing. Mr. Sheik is a Chartered Accountant from the Canadian Institute of Chartered Accountants, a CPA from the US and also from the Indian Institute of Chartered Accountants and a certified fraud examiner.