Mint Corp V.MIT

Alternate Symbol(s): MITJF

Financial Services Credit Services

The Mint Corporation, through its subsidiaries, is a globally certified payments company. The Company is focused on offering financial services to the unbanked salaried worker in the United Arab Emirates (UAE). The Company provides employers with payroll cards for their unbanked employees. It offers employers scalable, flexible and payroll card management solutions through its globally certified payments platform. It also focuses on facilitating payroll disbursement for unbanked workers, employees not qualified for traditional bank accounts. Its UAE operations comprise five entities, including Mint Middle East LLC (MME), Mint Electronic Payment Services Ltd (MEPS), Mint Capital LLC (MCO), Mint Gateway for Electronic Payment Services (MGEPS) and Hafed Holding (Hafed). MME is a payroll card services provider facilitating an automated and secure payroll system to employers in the UAE. Its UAE operations payroll cards and mobile app are branded under the Hafed name.

TSXV:MIT - Post by User

Mint Corp

Bullboard Posts

Comment by SUCYNon Aug 29, 2012 4:23pm

143 Views

Post# 20276311

RE: RE: Q2 Results

Mint Technology loses $2.32-million in Q2

2012-08-29 16:09 ET - News Release

This item is part of Stockwatch's value added news feed and is only available to Stockwatch subscribers.

Here is a sample of this item:

Mr. Nabil Bader reports

MINT ANNOUNCES QUARTER 2 RESULTS AND PROVIDES BUSINESS UPDATE

Mint Technology Corp. filed its second quarter 2012 financial statements, second quarter management's discussion and analysis, and related chief executive officer and chief financial officer certificates for the second quarter trading performance ended June 30, 2012, on Aug. 29, 2012.

Revenue from operations was $959,617 for the quarter ended June 30, 2012, up from $862,641 for the quarter ended May 31st, 2011 (+10%).

Total Net Loss for the 3 month period under review was ($2,327,362) compared to ($5,800,673) for the 4 months ended December 31st, 2011. ($633,360) of the Total Net Loss is attributable to the UAE Operations of which ($473,791) is depreciation and amortization.

The continuing expensed investment cost of the non UAE card activities including Mint Capital, Mint Egypt, Mint Qatar and Mint Global Processing LLC was ($1,694,002) further emphasizing the investments being made over the last 12 months in non UAE card activities. An improvement of 46% on a monthly loss run rate basis indicates that the majority of our Non UAE card activities investments are now reaching completion.

Bullboard Posts

Why this low-cost natural gas stock is missing in your portfolio