Exec wants flow through shares to aid in app development
Toronto—The executive chairman of new wireless player Mobilicity wants more Canadian apps developed for smartphones.
Speaking at the Canadian Telecom Summit in Toronto, John Bitove says consumers and the entire Canadian wireless industry would benefit if consumers had more to use on their devices.
Bitove is proposing what he calls ‘Canadian app flow through shares’ which would be issued by app companies, with the help of brokerages, and bought by investors to support their development.
He says flow through shares, which allow junior companies to transfer expenses to investors, have proven successful in the oil and gas industry as well as mining and natural resource sectors.
Bitove says investors would be nurturing the software application industry in Canada.
He spoke today at the Canadian Telecom Summit in Toronto.