FDCTech's Quarterly
Release for the Second Quarter (FY22 Q2) Results
The
increase in revenue by 1,985% with the continued successful
integration of the wealth management business. The Company to seek
more strategic acquisition targets in the next half of
2022.
Irvine,
CA -- August 16, 2022 -- InvestorsHub NewsWire -- FDCTech, Inc.
("FDC" or the "Company,"
OTCQB:
FDCT), a fintech-driven
company specializing in buying and integrating small to mid-size
legacy financial services companies, today announced the following
results for the quarter ended June 30, 2022, as compared to the
corresponding period of last fiscal year:
-
The revenues generated
for the six months ended June 30, 2022, and 2021 were $3,066,971
and $147,078, respectively.
-
During the six months
ended June 30, 2022, and 2021, the Company incurred a net loss of
$748,918 and $487,542.
-
The net loss as a
percentage of revenue decreased from 331.49% to 24.42% for the six
months ended June 30, 2022 compared to June 30, 2021.
-
The cash on hand was
$134,888 as of June 30, 2022, compared to $93,546 on December 31,
2021.
-
On June 30, 2022, the
total stockholders' equity was $1,149,816 compared with a total
stockholders' equity of $1,625,448 on December 31,
2021.
Outlook on
Company's Subsidiary – AD Advisory Services Pty Ltd.
(1)
AD Advisory Services Pty
Ltd. (ADS) is an Australian-regulated wealth management company
with 20 offices, 28 advisors, and $530+ million in funds under
advice. ADS offers different licensing, compliance, and education
solutions to financial planners to meet the specific needs of their
practice. ADS fiscal year ended on June 30, 2022. ADS filed its
audited financial statements
(2) under
Australian Accounting Standards as required by the
regulators.
Financial
Condition
|
Balance Sheet
(Audited)
|
|
June
30, 2022
|
|
June
30, 2021
|
|
|
|
|
Total
assets,
$
|
|
$213,796
|
|
|
183,400
|
|
|
|
|
Total
liabilities
|
|
244,196
|
|
|
213,939
|
|
|
|
|
Stockholder's
equity
|
|
(30,400)
|
|
|
(30,539)
|
|
|
|
Operating
Summary
|
Operating Data
(Audited)
|
|
Fiscal Year Ended
June 30, 2022
|
|
Fiscal Year Ended
June 30, 2021
|
|
|
|
|
Revenue,
$
|
|
$8,279,083
|
|
|
7,948,412
|
|
|
|
|
Cost of sales
|
|
7,472,764
|
|
|
7,185,629
|
|
|
|
|
Gross
|
|
806,319
|
|
|
762,783
|
|
|
|
|
Operating
expenses
|
|
806,179
|
|
|
760,227
|
|
|
|
|
Net
income,
$
|
|
$139
|
|
|
2,555
|
|
|
|
|
(1)
|
Due to rounding, numbers
presented throughout this press release and other documents in our
financial statements may not add up precisely to the totals
provided and percentages may not precisely reflect the absolute
figures.
|
|
(2)
|
Consolidated in the
Company financial statements in AUD.
|
Please
visit our
SEC filings or
Company's website for more information
on the full results and management's plan.
AD
Advisory Services Pty Ltd.
AD Advisory Services Pty
Ltd. – AFSL No. 237058, an independent specialist dealer group,
provides licensing solutions for select education and
compliance-focused financial advisors & accountants. ADS has a
dedicated management team are qualified financial planners that
service metro and regional practices around Australia.
FDCTech,
Inc.
FDCTech, Inc. ("FDC") is
a US-based, fully integrated financial technology company. FDC
specializes in buying and integrating small to mid-size legacy
financial services companies. FDC develops and delivers a full
suite of technology infrastructure solutions to forex, crypto,
wealth management, and other future-proof financial
sectors.
Press
Release Disclaimer
This press release's
statements may be forward-looking statements or future expectations
based on currently available information. Such statements are
naturally subject to risks and uncertainties. Factors such as the
development of general economic conditions, future market
conditions, unusual catastrophic loss events, changes in the
capital markets, and other circumstances may cause the actual
events or results to be materially different from those anticipated
by such statements. The Company does not make any representation or
warranty, express or implied, regarding the accuracy, completeness,
or updated status of such forward-looking statements or information
provided by the third party. Therefore, in no case whatsoever will
Company and its affiliate companies be liable to anyone for any
decision made or action taken in conjunction with the information
and/or statements in this press release or any related
damages.
Contact Media
Relations
FDCTech, Inc.
info@fdctech.com
www.fdctech.com
+1
877-445-6047
200 Spectrum Center
Drive, Suite 300,
Irvine, CA,
92618