MOBI724 (TSX-V: MOS) Announces Q1-2019 Financial Highlights: Q1-2019 vs. Q1-2018: Revenues Increased 13%, $589K vs. $ 520K;...
May 30 2019 - 4:15PM
MOBI724 Global Solutions Inc. (“MOBI724” or the
“Company”) (TSX-V: MOS) a global Fintech company offering a fully
integrated suite of multiple Card-Linked Offers and Rewards
(“CLO&R”), Digital Marketing and Business Intelligence (“DMBI”)
and Payment (“Payment”) Solutions announces its Q1-2019 financial
results (the “Results”).
Q1 2019 versus Q1 2018
- Revenues increased by 13% - $589K vs $520K
- Net loss decreased by 31% - $1.1M vs. $1.6M
- Operating loss decreased by 34% - $1.23M vs $1.85M
By Segment
- Payment: 162% increase - $144,000 vs. $55,000
- CLO&R:
- 7% increase - $73,000 vs. $68,000
- +50% increase in new CLO&R business
- DMBI: 6% decrease - $371,000 vs. $396,000
After the Reporting Period :
- $224,000 loan from Investissement Québec
- $2.8M sale of loyalty contracts – expected closing on June
30th, 2019
- $500,000 private placement equity raise
Allan Rosenhek, CFO of the company said: “The
material reduction of the burn rate is a very positive indicator of
the company’s efficiency. We have been successfully replacing the
legacy business in Argentina with new early stage revenues from the
CLO&R line. We expect this segment to perform very well going
forward.”
Marcel Vienneau, CEO of MOBI724 said: “On a YoY
basis our revenue has grown thereby validating the business
development strategy that we initiated in Q2 2018 while, during the
same period, our burn rate has continued to decline substantially.
We are confident that this trend will continue.”
About Mobi724 Global Solutions Inc.
“We enable smart transactions anywhere.”
MOBI724, a global Fintech company, offers a
fully integrated suite of multiple Card-Linked Offers and Rewards,
Digital Marketing and Business Intelligence and Payment Solutions
(including a mobile EMV compliant payment platform), which work
with any payment card, on any mobile device and at any Point of
Sale. MOBI724 provides turnkey solutions for card associations,
card issuers, banks, retailers, manufacturers, offer providers, to
create, manage, deliver and track and measure incentive campaigns
worldwide in real time. The company captures value from big data to
deliver seamless and personalized user experiences for the benefits
of all parties in the ecosystem. MOBI724 headquarters are in
Montreal, Canada, and the company presently has operations in North
and Latin America, the Caribbean and Asia Pacific.
Legal Disclaimer
Certain statements in this document, including
those which express management expectations or estimations with
regard to the Company’s future performance, constitute
“forward-looking statements” as understood by applicable securities
laws. Forward-looking statements are, of necessity, based on a
certain number of estimates and hypotheses; while management
considers these to be accurate at the time they are expressed, they
are inherently subject to significant uncertainties and risks on
the commercial, economic and competitive levels. We advise readers
that these forward-looking statements are subject to risks,
uncertainties, and other known and unknown factors that may cause
the actual results, performance or achievements of the Company to
be materially different from any future results, performance or
achievements expressed or implied in these forward-looking
statements. Investors are advised to not rely unduly on the
forward-looking statements. This advisory applies to all
forward-looking statements, whether expressed orally or in writing,
attributed to the Company or to any individual expressing them in
the name of the Company. Unless required by law, the Company is
under no obligation to publicly update these forward-looking
statements, whether to reflect new information, future events, or
other circumstances.
Neither TSX Venture Exchange nor its Regulation
Services Provider (as that term is defined in policies of TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
This news release does not constitute a
solicitation to buy or sell any securities in the United
States.
For further information, please visit www.MOBI724.com or
contact:
Investor Relations:
Marcel VienneauPresident/CEOMOBI724 Global Solutions Inc.T:
514-394-5200; E: ir@mobi724.com
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