Mobi724 Global Solutions Inc. (MOS:CSE) Releases Revenues Increase by 800{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} and Net Loss Decrease by 43{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} Over 6 Months and Adds New Board Member
– Momentum Public Relations –
Press Release: August 5th, 2016
MOBI724 Global Solutions Inc. (“MOBI724” or the “Company”)(CSE:MOS), a Fintech leader offering all in one fully integrated EMV payment, card link couponing and digital marketing, has filed its Q2 financial results for quarter ending on June 30 2016.
Six-Month Year-to-Date 2016 Highlights
- Revenue grew 800{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} to $1.283M in 2016 from $161K in 2015
- Net loss decreased by 43{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} to ($1.6M) from ($2.8M) in 2015
Mobi724 Global Solutions Inc. | Six-month period | |||
(in $’000) | 2016 | 2015 | ||
$ | $ | |||
Revenues | 1 283 | 161 | ||
Operating Expenses | 2 716 | 1 876 | ||
Operating Income (Loss) | (1 433) | (1 716) | ||
Other Expenses (Income) | 260 | 1 161 | ||
Income Tax Expense (Recovery) | (68) | (65) | ||
Net Income (Loss) | (1 626) | (2 811) | ||
Loss per share | (0,02) | (0,06) | ||
Weighted Average Number Shares | 99 196 720 | 45 418 190 |
Second Quarter 2016 Highlights
- Revenue grew 30{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce}: $725K in Q2 2016 vs $557K in Q1 2016
- Net loss decrease by 31{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce}: ($662K) in Q2 2016 vs ($962K) in Q1 2016
“These great results confirms that we have set the stage for value creation of the company. I am very confident with the progress of sales pipeline and customer approval in the targeted markets for our solutions is gaining traction. As well, we are focused on completing the funding with our partners so we can continue our rapid growth in line with our strategic plan” said Marcel Vienneau – CEO
The board is pleased to announce that Andre Halley will join the board. Andre has extensive career as an executive with companies such as Bell Canada – Bell Mobility – Teleglobe Canada as regional VP for Europe and Africa, CEO of TIW Asia of Hong Kong, CEO of Ooreedo Algeria, board member of European Data Communications, Skywave Communications, Chairman of Cassiot, Executive Chairman of Prevtech Mircobia Inc., Chairman of the advisory board of 2KIC INC. “I am very happy that Andre is joining our board and that he will leverage his extensive network in Asia Pacific and Middle East to actively market the licenses of our solutions in those regions. His strategic views will add value to our governance” said CEO – Marcel Vienneau
About Mobi724 Global Solutions
MOBI724 Global Solutions Inc. (CSE:MOS), a Fintech corporation based in Montreal (Canada), offers a unique and fully integrated suite of solutions PAYMENT – COUPONING – DIGITAL MARKETING (all in one), is a leader in the Fintech industry.
Our vision is to enhance the value of commoditized payment transactions to the players in this eco- system (card associations, banks, mobile carriers and retailers) by adding layers of intelligence to these card- linked transactions (i.e. smart transactions) in a seamless manner for all the players in the eco-system.
MOBI724 Global Solutions unleashes the true potential of both payment and card-linked couponing/rewards transactions for both online and offline points of sale (POS).
The Corporation provides its customers with full and comprehensive traceability and enriched consumer data through its offering. Its solutions enables card associations, retailers, manufacturers, offer providers, mobile operators and card issuers to create, manage, deliver and “track and measure” incentive campaigns worldwide to ANY mobile device and allow its redemption at ANY point of sales.
Our credit and debit EMV payment solutions will allow banks to process end to end EMV transactions, focusing on authentication, approved security and quick merchant adoption which allows the users to process payments with a wide range of devices over a secure and seamless transaction.
MOBI724’s PCI and EMV cloud-based switch, with their device agnostic connectivity, simplifies deployment and integration, and introduces new payment and digital incentives solutions to the market enabling multi layered intelligent transactions therefore SMART TRANSACTIONS.