XTM Reports on Everyday People Payments Service Outage and Halting of Activities Pursuant to Bank of Canada Compliance Order

2026-02-19 - 20:43

TORONTO -- XTM Inc. (OTCQB: XTMIF | CSE: PAID) (the “Company”) provides an update on the platform service outage that occurred on January 26, 2026 (the “Outage”) and is continuing in connection with the Management Services Agreement (“MSA”) entered with Everyday People Financial Corp which was previously disclosed on October 22, 2025, February 2, 2026 and February 5, 2026. The Company confirms that as part of the MSA, the Company executed a blocked account agreement on November 30, 2025 which restricts the Company’s ability to move funds from its accounts. On the date that the Company transfered control of its accounts to Everyday People Financial Corp. at 11:59 pm on November 30, 2025 the wallet balances were $12,830,224.20. Many business users as of January 26, 2026 could not transact from their business portal due to funding practices being abruptly modified without notice or specific instructions of the Company. The Company is investigating the operational level impact the unauthorized modifications had on businesses and the Company, including the cessation of lending activity and certain balancing procedures. Also, the use of pre-authorized debits without the specific instructions of the Company is under investigation. All options that may be available to the Company related to restoring portal wallet balances are being considered. At this time, the Company does not have certainty on a specific plan and is working with various parties for resolution. Read More