DUBAI, UNITED ARAB EMIRATES--(NewMediaWire - May 11, 2016)
- Global Equity International,
Inc. (OTCQB: GEQU) and its fully-owned
subsidiary Global Equity Partners
Plc. ("GEP" -- www.gepartnersplc.com), a specialist
consultancy firm with offices located in Dubai and London, are
pleased to announce that today the Company filed their Q1 2016 form
10Q.
We would like to point out certain salient points regarding our
Q1 2016 financial statements:
The Company declared $843,528 of gross revenues for the three
months ended March 31, 2016 opposed to $15,000 for the same period
in 2015. This represents an increase of 5524%.
Our operating expenses decreased by $153,532. This represents a
32% decrease in expenditure when comparing Q1 of 2016 and Q1 of
2015.
The operational profit for the three months ended March 31, 2016
increased substantially to $524,468 opposed to the operational loss
of $(457,592) declared for the same period in 2015. This represents
a 215% increase of $982,060.
The Company's "Non-Operating Income/Expenditure" for the three
months ended March 31, 2016 amounted to a mere $36,724 opposed to
$338,228 declared for the same period in 2015. This $301,504
decrease in "Non-Operating Income/Expenditure" was mainly due to
the fact that we currently have no discounted convertible toxic
debt since August 2015, hence no material extraordinary expenditure
to hinder our bottom line.
The net profit for Q1 2016 amounted to $487,744 opposed to a
loss of $(795,820) in Q1 2015. This represents an increase in net
profit of $1.28 million, which is an excellent achievement in our
opinion.
The Company's balance sheet as at March 31, 2016 reflects
positive Stockholders' Equity amounting to $1,036,382, a total of
$3,087,157 between fixed assets and investments and $179,286 of
current assets including cash in bank, prepaids, other current
assets and accounts receivable. In our opinion, these particular
items in their entirety prove solid growth on a "quarter over
quarter" basis.
Included in the company's liabilities, we would like to point
out that $535,000 is considered as deferred revenue and will become
revenue as we complete certain contractual milestones during
2016.
Our balance sheet shows a fixed price convertible debt which is
by no means "toxic" as management agreed a set conversion price of
$0.025 with this particular lender. Furthermore, this option to
convert at a fixed price per share is a multiple higher than the
current bid price. The lender may or may not convert the debt and
the accrued interest into shares but if they do, it would mean that
our Company's shares were trading over $0.025 and with substantial
volume. In essence, we could be exposed to a maximum of 5.94
million common shares which only represent 0.75% of the current
IOS.
All other third party debt is non-collateralized and subject to
some form of a payment plan in cash. All related party debt may be
entirely or partially condoned if required.
For the fourth straight quarter in row the Company have
positively increased its Shareholders' Equity and provided better
quarter on quarter results which is a trend that currently has no
sign of changing. Our pipeline is stronger than ever and the deals
and projects, currently in execution mode, all regularly take steps
closer to closing in a methodical, professional and well managed
way. The growth track that the Company is on will only accelerate
during 2016 with many innovative developments on the corporate
drawing board for further and faster growth.
Finally, we are of the firm opinion that executing on only a
percentage of the 19 portfolio clients that we currently have on
our books today, will allow the Company to book substantial cash
and equity success fees, jointly in the multiple millions of
dollars, this year alone.
Peter Smith, CEO of Global Equity International Inc.,
said, "These numbers are a testament to the hard
work the team puts in each and every day. After many years of
laying solid foundations, we finally see the rewards in the way of
excellent results and continually beating the quarter on quarter
numbers. Not only have we increased the income significantly, we
have simultaneously been watching our expenses and cutting them
when and where we can, but without hurting the operational
day-to-day business. A $153,000 reduction in the operating
expenditure without hindering the operational business is a
tremendous achievement in my opinion. 2016 has been a great year so
far for the Company and its development, we continue to work and
operate under the first class standards we set out with and believe
we are head and shoulders above any other Company of our size in
our world. We follow strict corporate governance and manage the
business in a correct manner, producing good numbers is a
by-product of a professionally ran organization that we are proud
to be the architects of."
Enzo Taddei, CFO of Global Equity International Inc.,
said, "I personally am extremely satisfied with
the Company´s very positive uptrend. I truly believe that the many
years of very hard work is now starting to pay off for the Company
and, by default, its shareholders. We have the potential to reach
much higher in the near future but as I always like to say 'Rome
wasn't built in one day,' it takes time and a lot of patience to
build a proper and profitable business."
Patrick V. Dolan, Managing Director of Global Equity
International Inc., said, "These last few months
have been extremely interesting and productive as we have gained a
lot of traction with a lot of our new business partners
particularly in Europe. Also, we have managed to partner up with
the likes of the The Billbarter Group, a firm that manages billions
of Euros in projects. I truly believe that we are now starting to
get noticed by a lot of the 'big boys' in the industry which can
only benefit our Company in the long term."
About Global Equity International Inc.
Global Equity International Inc., through its wholly-owned
subsidiary Global Equity Partners Plc., advises worldwide business
leaders with their most critical decisions and opportunities
pertaining to growth, capital needs, structure and the development
of a global presence. With offices in Dubai and London, Global
Equity has developed significant relationships in the US, UK,
Central Europe, the Middle East and South East Asia to assist
clients in realizing their full value and potential by bringing
them to external capital and resources that place an emphasis on
collaborative thinking. Furthermore, because Global Equity has
offices in key financial centres of the world, they are able to
introduce their clients to a unique opportunity of listing their
shares on any one of the many stock exchanges worldwide. Global
Equity International Inc., through its wholly-owned subsidiary
Global Equity Partners Plc., holds significant long-term equity
positions in a lot of the companies that it represents.
Safe Harbour Statement
This press release may include forward-looking statements within
the meaning of the Private Securities Litigation Reform Act of
1995, including statements related to anticipated revenues,
expenses, earnings, operating cash flows, the outlook for markets
and the demand for products. Forward-looking statements are no
guarantees of future performance and are inherently subject to
uncertainties and other factors which could cause actual results to
differ materially from the forward-looking statements. Such
statements are based upon, among other things, assumptions made by,
and information currently available to, management, including
management's own knowledge and assessment of the Company's industry
and competition. The Company refers interested persons to its most
recent Annual Report on Form 10-K and its other SEC filings for a
description of additional uncertainties and factors, which may
affect forward-looking statements. The company assumes no duty to
update its forward-looking statements.