MOBI724 Global Solutions Inc. (“MOBI724” or the
“Company”) (TSX-V:MOS) (OTCQB:MOBIF), a global Fintech company
offering a fully integrated suite of multiple Card-Linked Offers
and Rewards (“CLOR”), Digital Marketing and Business Intelligence
(“DMBI”) and Payment Solutions is pleased to announce its financial
and operational results for the second quarter ended June 30,
2018.
Following are the highlights for Q2 2018 vs. Q1 2018.
• Total revenues increased 52% to $793K for the second
quarter
- Revenues from Card-Linked Offers and Rewards increased 73%
- Revenues from Payments increased 31%
- Revenues from Digital Marketing and Business Intelligence
increased 52%
• Operating expenses decreased 23% to $1.7M compared to
$2.2M
• Operating loss decreased 47% to $879K compared to $1.7M
• Net loss decreased 44% to $0.9M compared to $1.6M
• Cards under management increased 25% to 16.2M cards compared
to 12M cards
Q2 2018 Highlights:
Sales pipeline continues to grow as the Company
aggressively advances it business development plan. Key
accomplishments were:
• Shortening of the sales cycle to 12 months
from 15 months
• Pursuing multiple prospects, clients and
partnerships simultaneously in several countries
• Increasing number of cards under
management
• Increased efficiencies, reduced costs and
improved cash flow
Implementation of process optimization
initiatives resulted in a significant reduction of costs. The
Company continues to invest in the development of a distributed
ledger architecture for the platform (blockchain) and artificial
intelligence capabilities. MOBI724 is confident, that these
innovations will enhance its product offerings and sales.
In the CLOR segment in Argentina, the Company
successfully transitioned operations from a legacy coupon business,
to generating revenues from a new line of solutions. Increase in
the DMBI segment is related to the launch of key accounts. In the
Payments segment, the Company continues to grow returns from
onboarding new clients in the Caribbean and extracting first
revenues from the Philippines.
Results - Q2 2018 vs. Q2
2017:
Revenues for the three months ended June 30,
2018 slightly increased to $793K from $782K in Q2 2017.
Operating expenses decreased 40% in Q2 2018 to
$1.7M compared to $2.8M. The decrease is due to lower professional
fees, lower travel expenses, the e-business credit recorded during
the period, lower share-based compensation and the gain on
settlement of liabilities compared to a loss in 2017, partially
offset by an increase in salaries and contract labor.
Net loss was $0.9M vs. a net income of $0.5M.
The higher net loss is primarily related to the one-time, non-cash
change in fair value, related to the acquisition of Mobi724
Solutions (which is absent in Q2 2018) and the gain on the
renegotiation of the business price (also absent in Q2 2018)
partially offset by the gain on settlement of liabilities and the
lower operating expenses.
The Company had cash of $1.9M on June 30,
2018.
Cash flows used in operating activities for the
second quarter of 2018 were $1.0M compared to $1.3M for the same
quarter a year ago. The decrease is attributable mainly to lower
general and administrative charges and the gain on settlement of
liabilities, partially offset by the increase in cash flow used in
non-cash working capital. Cash flows from financing activities in
the second quarter of 2018 decreased by $8.2M to $0.9M due mainly
to lower proceeds from the issuance of warrants and common shares,
partially offset by the proceeds received from the exercise of
warrants. Cash flows used in investing activities during the second
quarter of 2018 decreased by $0.7M attributable to the absence of
business acquisition activities during 2018.
Marcel Vienneau, MOBI724’s CEO, said "We are
very pleased with the quarter over quarter revenue growth, even
better when we consider that we replaced the legacy coupon revenues
this past quarter. Our operations optimization initiatives in Q2
yielded tangible results and have continued in Q3 with the full
positive effect to show in Q4 2018 and beyond. One of our main
objectives is to put the Company on an accelerated revenue growth
path, and the strong growth in cards under management this quarter
is a key indicator that we are setting the Company on a solid
foundation in terms of value creation.”
About Mobi724 Global Solutions
Inc.
“We enable smart transactions anywhere”
MOBI724, a global Fintech company, offers a
fully integrated suite of multiple Card-Linked Offers and Rewards,
Digital Marketing and Business Intelligence and Payment Solutions
(including a mobile EMV compliant payment platform), which work
with any payment card, on any mobile device and at any Point of
Sale. MOBI724 provides turn-key solutions for card associations,
card issuers, banks, retailers, manufacturers, offer providers, to
create, manage, deliver and track and measure incentive campaigns
worldwide in real time. The company captures value from big data to
deliver seamless and personalized user experiences for the benefits
of all parties in the ecosystem. MOBI724 headquarters are in
Montreal, Canada, and the company presently has operations in North
and Latin America, the Caribbean and Asia Pacific.
Legal Disclaimer
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.
Neither TSX Venture Exchange nor its Regulation
Services Provider (as that term is defined in policies of TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release. This news release does not constitute a
solicitation to buy or sell any securities in the United
States.
For further information, please visit www.MOBI724.com or
contact:
Investor Relations:
Mr. George AizpuruaVice-President, CommunicationsFirst Canadian
Capital Corp.T: 647-500-2389/416-742-5600; E:
gaizpurua@firstcanadiancapital.com
Mr. Derek LindsayChief Financial OfficerMOBI724 Global Solutions
Inc.T: 514-394-5200; E: derek.lindsay@mobi724.com
Mobi724 Global Solutions (TSXV:MOS)
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Mobi724 Global Solutions (TSXV:MOS)
過去 株価チャート
から 2 2024 まで 2 2025