Tenet Fintech Group Inc. C.PKK

Alternate Symbol(s): PKKFF

Technology Software - Application

Tenet Fintech Group Inc. is the parent company of a group of innovative financial technology (Fintech) and artificial intelligence (AI) companies. All references to Tenet in this news release, unless explicitly specified, includes Tenet and all its subsidiaries. Tenet's subsidiaries provide various analytics and AI-based services to businesses and financial institutions through the Business Hub, a global ecosystem where analytics and AI are used to create opportunities and facilitate B2B transactions among its members.

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Tenet Fintech Group Inc. > New Press Release - Tenet Reports First Quarter 2023 Financial Results

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Comment by lscfaon May 27, 2023 12:11am

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Post# 35466930

RE:New Press Release - Tenet Reports First Quarter 2023 Financial Results

	Q1 23	Q4 22	Q3 22	Q2 22	Q1 22
Revenue	9,493,804	21,119,569	21,585,258	32,432,228	34,741,460
Cost of service	5,968,713	6,493,442	16,976,733	29,196,028	30,024,865
Gross Profit	3,525,091	14,626,127	4,608,525	3,236,200	4,716,595
Software delivery serviced	764,205	2,427,253	942,837	0	0
Salaries & fringe benefits	4,214,813	4,317,522	3,201,274	2,734,471	2,345,268
Board remuneration	95,992	121,301	175,958	151,080	191,924
Service fees	1,126,261	2,364,729	534,087	55,092	102,926
Consulting fees	26,510	209,375	369,112	369,745	343,738
Management fees	0	(34,974)	11,430	11,580	11,964
Professional fees	728,978	911,033	1,095,143	666,320	1,032,464
Outsourcing services	1,110,496	1,322,892	346,832	1,000,158	0
Public relations / PRs	379,145	363,346	420,335	201,164	316,072
Admin, supplies, website & utilities	409,155	374,148	381,835	339,018	177,058
Lease expenses	47,777	48,094	40,045	25,648	60,161
Depn of right-of-use assets	198,748	179,958	182,687	142,752	109,782
Insurance	348,886	326,182	316,758	316,735	331,646
Finance costs	335,235	(626,182)	23,656	349,576	446,983
Expected credit loss	21,701	1,282,368	388,396	101,555	87,618
Travel and entertainment	62,211	122,935	98,581	95,734	78,485
Stock exch & transfer agent	32,341	30,635	54,282	114,545	45,032
Translation cost and others	11,132	24,779	30,259	57,171	26,020
Depn of property & equip	26,718	24,279	22,397	21,437	21,551
Chg in value of contingent payable	75,820	713,848	(1,305,068)
Gain on bargain purchase	0	0	(109,605)
Impairment of intangible asset		2,735,229	4,218,826
Amort of intangible assets	2,094,690	1,944,355	1,754,964	1,562,827	1,502,347
Amort of initial fin costs	51,535	8,845	6,799	6,825	6,551
Loss in associate co.	18,029	34,253
Goodwill impairment		35,697,890
Loss (gain) on FX	20,182	(49,713)	(13,932)	(7,837)	134,424
Total costs	12,200,560	54,874,380	13,187,888	8,315,596	7,372,014
Income tax	29,216	(4,642,550)	(864,154)	1,253,276	704,182
Net loss	(8,704,685)	(35,605,703)	(7,715,209)	(6,332,672)	(3,359,601)