Mobi724 Global Solutions Inc. (CSE:MOS) Releases Q1 Revenues Up 630{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} and Operating Loss Decrease by 30{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce}
– Momentum Public Relations –
Press Release: June 1, 2016
MOBI724 Global Solutions Inc. (“MOBI724” or the “Company”) (CSE:MOS), a Fintech technology leader in the digital incentives, couponing and payment space, has filed its Q1 financial results for quarter ending on March 31 -2016.
Highlights:
- Revenues year over year increase for Q1 increase 630{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} to 557K versus 88k.
- The acquisition of IQ 7/24 is now fully consolidated in Q1.
- Notwithstanding the acquisition of IQ 7/24 Inc. completed in Q4 with the addition SG&A of 173k: $1.256M in Q1 2016 compared to $1.083M in Q1 2015.
- Decrease operating lost by 30{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} to (699k) versus (995k) despite an increase by 173k in operating costs in the consolidated phase.
(in $’000) | March 31, 2016 | March 31, 2015 | |||
Sales | 557 | 88 | |||
Operating Expenses | 1,256 | 1,083 | |||
Operating Loss | (699) | (995) | |||
Other Expenses (Income) | 298 | 3,371 | |||
Income Tax expense (recovery) | (34) | (34) | |||
Net Loss | (964) | (4,332) | |||
Loss per share | |||||
Basic and Diluted | $(0.01) | $(0.10) | |||
- During the three month period ended March 31, 2016, a total of 3,030,303 warrants were exercised for a cash consideration of $250,000 (exercise price at $0.0825)
- The Company is progressing in a new round of financing of $3 million which is expected to be concluded in Q2 or beginning of Q3 2016.
“We are starting to see the beginning of the results of our strategy that we put forward in mid-year 2015” said Marcel Vienneau, CEO. “The company continues to make material progress in its sales funnel globally and continues to make material progress in its funding plan. This have been the best quarter in the company’s history. We now have traction with our 3 turnkey solutions and this confirms the value proposition we are bringing to the market globally”.
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 – LOYALTY (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.