Hong Kong, China -- November 15, 2017 -- InvestorsHub NewsWire
-- Weyland Tech, Inc. (OTCQX: WEYL) ("Weyland" or "Company"), a
provider of mobile business applications, announced today that it
has filed its 10-Q quarterly financial statements with the SEC.
Weyland CEO Brent Suen commented on the results for the period
ending September 30, 2017, "We are thrilled with oweylur revenue
growth in the period. The Company generated over $3.8 million in
revenue in the quarter, which is an increase of 37% from our same
quarter last year.
"Weyland has also accumulated $3.8 million in prepayments and
deposits for development of the services we announced this year. We
anticipate that those investments will start to pay off in the
fourth quarter as we bring a number of our announced projects
online.
"Those include our offering of the CreateApp platform through
DPEX Worldwide to their 600,000+ customers and our recently
announced AtozPay mobile wallet. The development team for AtozPay
has a proven track record of building a platform that generated
$100 Million in revenue in its first year. Weyland anticipates
achieving similar revenue within the first 15 months from
launch.
"In the new year, Weyland expects additional revenue growth from
bringing our platform to the Middle East and Africa, our recent
eSports efforts, where the market is poised for explosive growth,
our EU offering of CreateApp through OrangePro, and other projects
in development.
"The Company maintained a gross operating profit on revenue
generating activity and a substantial portion of our cost increase
is geared toward generation of ongoing revenue and customer base
growth.
"Overall despite a net loss of $0.0044 per share we expect the
investments to be more than worth the temporary impact to the
bottom line in light of our positioning for substantial revenue
growth through 2018."
Weyland looks forward to providing additional updates as
development continues. For a full discussion and detailed financial
statements our filings are available online.
About Weyland Tech Inc.
Weyland Tech's CreateApp platform is focused on the Asia
markets. Our CreateApp platform offered in 12 languages, enables
small and medium sized businesses ("SMB's") to create native mobile
applications ("APP") for Apple's iOS and Google Android without
technical knowledge or background. Empowering SMB's to increase
sales, reach more customers and promote their products and services
via simple easy to build mobile APPs in an affordable and
cost-effective manner.
Follow Weyland Tech online at:
Weyland Tech Facebook Page (https://www.facebook.com/weylandtech)
Weyland Tech Twitter Feed (https://twitter.com/weylandtechinc)
Weyland Tech LinkedIn Page (https://linkedin.com/company/weylandtech)
Brent Suen, CEO Public Facebook Page (https://www.facebook.com/BrentSuenWEYL)
Brent Suen, CEO Public Twitter Feed (https://www.twitter.com/BrentSuenWEYL)
Safe Harbor Statement
This release contains certain "forward-looking statements"
relating to the business of the Company. All statements, other than
statements of historical fact included herein are "forward-looking
statements" including statements regarding: the continued growth of
the e-commerce segment and the ability of the Company to continue
its expansion into that segment; the ability of the Company to
attract customers and partners and generate revenues; the ability
of the Company to successfully execute its business plan; the
business strategy, plans, and objectives of the Company; and any
other statements of non-historical information. These
forward-looking statements are often identified by the use of
forward-looking terminology such as "believes," "expects" or
similar expressions and involve known and unknown risks and
uncertainties. Although the Company believes that the expectations
reflected in these forward-looking statements are reasonable, they
do involve assumptions, risks, and uncertainties, and these
expectations may prove to be incorrect. Investors should not place
undue reliance on these forward-looking statements, which speak
only as of the date of this news release. The Company's actual
results could differ materially from those anticipated in these
forward-looking statements as a result of a variety of factors,
including those discussed in the Company's periodic reports that
are filed with the Securities and Exchange Commission and available
on its website (http://www.sec.gov). All forward-looking statements
attributable to the Company or persons acting on its behalf are
expressly qualified in their entirety by these factors. Other than
as required under the securities laws, the Company does not assume
any duty to update these forward-looking statements.