FDCTech's Quarterly
Release for the Third Quarter (FY22 Q3) Results
The increase in
nine months of revenue by 1,980% compared to the previous period is
due to the successful integration of the wealth management
business.
Irvine, CA
-- November 04, 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 September 30, 2022, as compared to
the corresponding period of last fiscal year:
-
The revenues generated for the nine
months ended September 30, 2022, and 2021 were $4,597,097 and
$221,003, respectively.
-
During the nine months ended
September 30, 2022, and 2021, the Company incurred a net loss of
$1,002,849 and $977,933.
-
The net loss as a percentage of
revenue decreased from 442.50% to 21.81% for the nine months ended
September 30, 2022, compared to the previous period.
-
The cash on hand was $246,064 as of
September 30, 2022, compared to $93,546 on December 31,
2021.
-
On September 30, 2022, the total
stockholders' equity was $1,283,751 compared with a total
stockholders' equity of $1,625,448 on December 31,
2021.
On July 19, 2022, the Company signed
a non-binding letter of intent to acquire eighty percent (80%)
equity interest in CIM Securities, LLC ("CIM Securities"), a FINRA
and SIPC member firm. On September 30, 2022, the Company paid a
$20,000 non-refundable deposit and transferred $180,000 to the
escrow account to complete the transaction. The FINRA Rule 1017
requires the Company to file continuing membership applications
(CMAs) as it plans to apply for changes in ownership, control, and
business operations. The Company expects to file the CMA form by
the end of fiscal 2022.
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