MONTREAL, QUEBEC--(Marketwired - 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% 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% 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.
Certain statements in this document, including those which express management's expectations or estimations with regard to
the Company's future performance, constitute "forward-looking statements" as understood by applicable securities laws.
Forward-looking statements are, of necessity, based on a certain number of estimates and hypotheses; while management considers
these to be accurate at the time they are expressed, they are inherently subject to significant uncertainties and risks on the
commercial, economic and competitive levels. We advise readers that these forward-looking statements are subject to risks,
uncertainties, and other known and unknown factors that may cause the actual results, performance or achievements of the Company
to be materially different from any future results, performance or achievements expressed or implied in these forward-looking
statements. Investors are advised to not rely unduly on the forward-looking statements. This advisory applies to all
forward-looking statements, whether expressed orally or in writing, attributed to the Company or to any individual expressing
them in the name of the Company. Unless required by law, the Company is under no obligation to publicly update these
forward-looking statements, whether to reflect new information, future events, or other circumstances.
The Canadian Securities Exchange (CSE) has not reviewed this news release and does not accept responsibility for its
adequacy or accuracy. This news release does not constitute a solicitation to buy or sell any securities in the United
States.