FTEC proving a strong business model that will scale At a $9M market cap FTEC is cheap. The company has a drastically improved balance sheet and is cash flow positive. It's only a matter of time before they light up more locations and grow their revenue exponentially.
The difference between FTEC and corresponding peers is they own their Point of Sale footprint and they have a high margin transactional business model. FTEC is a win waiting to rebound! Bitcoin is fighting back and testing the $10,000 level.
A runup on cryptocurrencies will boost FTECs share price.
2017 Highlights
- Reduced the Company’s liability by $7.6M including our unfavourable high-interest loan
- Made a net profit of $435k for the year due to the reduced liability
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- Reduced interest rate of 24% per annum plus management fee to 12% on April 1, 2017, and further to 6% plus management fee on May 16 2017.
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- Raised $3.4M through two private placements in April and June of the year, and had access to un-restricted cash of $915k by December 31 2017
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- Increased its customer care service revenue
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- Established an advisory board with high skill sets in business and Cryptocurrency space
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- Filed a patent-pending for Cryptocurrency Point of Sales platform.
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- Developed and launched the Company’s first phase of the Cryptocurrency Point of Sales solution, which simplifies buying cryptocurrecny to the mass of consumers
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- Acquired software for P2P Micro Lending and initiated the project to work on required changes and enhancements to meet the regulatory required standards
Read more at https://www.stockhouse.com/news/press-releases/2018/04/30/fintech-select-earns-a-net-profit-of-435k-and-reduces-liability-by-7-6m-for-the#WTYe0jRMJ4FxkcI7.99