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 (“CLO&R”), Digital Marketing and Business
Intelligence (“DMBI”) and Payment Solutions (“Payment”) announces
its financial and operational results for the third quarter ended
September 30, 2018.
Following are the highlights for Q3 2018 vs. Q3
2017.
- Total revenues decreased by 2% to $618K for 2018 resulting
mainly from a massive devaluation in the Argentinian Peso ($59k for
Q3)and the accelerated depletion of our legacy business ($116k)
accounting for a decrease of 40% to $72K from revenues from
CLO&R
- Revenues from Payment increased 99% to $96K
- Revenues from Digital Marketing and Business Intelligence
decreased 3% to $450K
- Operating expenses remained stable at $2.1M
- Net loss decreased 23% to $1.4M from to $1.9M a decrease of
$0.5M
Operational Highlights:
- On September 26, 2018, we signed a commercial agreement with
Mercado Libre SLR in Argentina and on November 1, 2018, we also
signed a commercial agreement with Groupo Promerica, Banco
Promerica in Central America.
- We completed the integration and testing with Prisma Medios de
Pago – one of the largest acquiring networks in the Latin America.
- Our activities in the DMBI segment continue to show improved
and promising metrics.
- We continue to experience growth in the Payments segment due to
an increase in sales in the Philippines and an increase in revenues
derived from onboarding additional merchants in the Caribbean.
- Revenue in our Payment segment continue to increase with a 99%
increase when compared to Q3 2017 and a 33% increase when compared
to Q2-2018 mainly due to the onboarding of new merchants in the
Caribbean and the new revenues from the Asia Pacific.
We continue to progress in our efforts to build
a strong base of long-term recurring revenue with both our year to
date increase in payment cards under management and growth in our
Payment segment. MOBI724’s platform and the solutions continue to
solicit strong interest from both existing and prospective clients
across multiple markets. We have progressed through these
challenges, and are excited about our development plan going
forward as the sales pipelines continues to grow.
The 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 further enhance its product offerings and
sales.
In the CLO&R segment in Argentina, the
Company continues its transition from a legacy coupon business, to
generating revenues from the CLO&R solutions but sales were
significantly impacted by the unfavourable decrease in foreign
exchange. If the Argentinian Peso had not suffered such a
significant devaluation, sales in the CLO&R segment would have
been $131K instead of $72K. To mitigate the currency risks in the
future new agreements are being pegged to the US currency.
The decrease in the DMBI segment is related to a
reduction in the number of accounts launched during the third
quarter and due to some seasonality in this segment during the
summer months.
In the Payment segment, the Company continues to
grow its revenues by onboarding new clients in the Caribbean and
extracting revenues from the sale of terminals in the Philippines.
As the Company diversifies its network of distributors, we expect
continued steady growth in revenues from the Asia Pacific
region.
Results - Q3 2018 vs. Q3
2017:
Revenues for the three months ended September
30, 2018, slightly decreased to $618K from $631K in Q3
2017.
Operating expenses remained stable in Q3 2018 at
$2,1M compared to the same period in 2017 despite a lower gain on
settlement of liabilities of $147K and an increase in staff
expenses of $285K, partially offset by a decrease in contract
labour $187K and professional fees $91K.
Net loss was $1.4M vs. a net loss of $1.9M. The
decrease, of $0.5M, in net loss is primarily related to the
decrease in other finance expenses.
The Company had cash of $1.0M on September 30,
2018.
Cash flows used in operating activities for the
third quarter of 2018 were $0.9M compared to $1.3M for the same
quarter a year ago. The decrease, of $0.5M, is attributable mainly
to the decrease in cash flow used in non-cash working capital.
Cash flows from financing activities in the
third quarter of 2018 decreased by $0.6M to $7K due mainly to lower
proceeds from the issuance of long-term debt, partially offset by
lower repayment of demand debt.
Cash flows used in investing activities during
the third quarter of 2018 decreased by $0.5M attributable to the
absence of business acquisition activities during 2018.
Marcel Vienneau, MOBI724’s CEO, said: “In the
3rd quarter of 2018, our CLO&R segment was negatively impacted
by a massive devaluation in the Argentinian Peso otherwise this
quarter would have shown material upside progress. To mitigate FX
exchange risks, our present and future contracts are denominated in
US currency. We have diversified and expanded our operations. We
achieved material progress towards the goal of launching our
platform in six (6) countries in the first half of 2019. This
quarter our pipeline is accelerating internationally and as such,
we are very confident that we will generate material growth in
revenues across all of our business lines in 2019”.
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 turnkey 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 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
Ms. Rachel Girard, CPA, CAChief Financial OfficerMOBI724 Global
Solutions Inc.T: 514-394-5200; E: IR@mobi724.com
Mobi724 Global Solutions (TSXV:MOS)
過去 株価チャート
から 1 2025 まで 2 2025
Mobi724 Global Solutions (TSXV:MOS)
過去 株価チャート
から 2 2024 まで 2 2025