FDCTech's 2022
Annual Report Highlights: Record revenue and gross margin set the
platform for future profitable growth
The
Company's successful integration of wealth management and enhanced
technology businesses drive a 1,310% increase in annual revenue and
a staggering 2,310% increase in gross margin.
Irvine,
CA -- April 18, 2023 -- InvestorsHub NewsWire -- FDCTech,
Inc. ("FDC" or the "Company," OTCQB:
FDCT), a fintech-driven
company specializing in buying and integrating small to mid-size
legacy financial services companies, today announced the following
results for the fiscal year ending December 31, 2022, as compared
to the corresponding period of last fiscal year:
-
The revenues generated
for the fiscal year ended December 31, 2022, and 2021 were
$6,453,732 and $457,661, an increase of 1,310% from the previous
period.
-
The technology revenues
generated for the fiscal year ended December 31, 2022, and 2021
were $626,000 and $301,648, an increase of 108% from the previous
period.
-
The gross margin
generated for the fiscal year ended December 31, 2022, and 2021
were $1,018,940 and $42,277, an increase of 2,310% from the
previous period.
-
During the fiscal year
ended December 31, 2022, and 2021, the Company incurred a net loss
of $1,043,045 and $1,734,059, a decrease of 40% from the previous
period.
-
The net loss as a
percentage of revenue decreased from 379% to 16% for the fiscal
year ending December 31, 2022, compared to the previous
period.
-
The cash on hand was
$264,829 as of December 31, 2022, compared to $93,546 on December
31, 2021.
-
In the subsequent events
highlights, the Company paid off all the outstanding balance of
$550,000 and any accrued interest related to the AJB Note in
February 2023.
Update on upcoming
acquisitions:
CIM
Securities, LLC: US Broker Dealer
On July 19, 2022, the
Company signed a non-binding letter of intent to acquire fifty-one
percent (51.00%) equity interest in CIM Securities, LLC ("CIM
Securities"), a FINRA and SIPC member firm. On September 30, 2022,
the Company signed a definitive agreement pending regulatory
approval, paid a $20,000 non-refundable deposit, and transferred
$180,000 to the escrow account to complete the transaction. FINRA
Rule 1017 requires the Company to file continuing membership
applications (CMAs) as it plans to apply for changes in ownership,
control, and business operations. The Company filed the CMA form
with FINRA in February 2023 to effect the change of ownership of
CIM Securities, LLC, where the Company interest shall be
51.00%.
NSFX
Ltd.: European Market Maker
On December 31, 2022, the
Company announced the sales purchase agreement ("Agreement") under
which the Company acquired a 50.10% equity interest in New Star
Capital Trading Ltd., a British Virgin Island company ("New Star")
and its operating subsidiary NSFX Ltd ("NSFX"). NSFX is an online
trading brokerage firm regulated by the Malta Financial Services
Authority (MFSA). The Company will assume a business acquisition
loan liability of $350,000 to purchase the controlling interest in
NSFX. The Company amended the Agreement to February 28, 2023, to
comply with the BVI Companies Act requirement for the change of
ownership. The Company expects to consolidate the fair value of
NSFX's assets and liabilities on or after February 28, 2023, but no
later than June 30, 2023.
This impressive growth is
attributed to the successful integration of wealth management and
enhanced technology businesses, providing a strong foundation for
continued expansion and profitability. The Company's upcoming
acquisitions further demonstrate its commitment to driving growth
and delivering value to its investors.
Please
visit our
SEC filings or
Company's website for more information
on the full results and management's plan.
AD
Advisory Services Pty Ltd.
AD Advisory Services Pty
Ltd. – AFSL No. 237058, an independent specialist dealer group,
provides licensing solutions for select education and
compliance-focused financial advisors & accountants. ADS'
dedicated management team are qualified financial planners that
service metro and regional practices around Australia.
NSFX
Ltd.
NSFX Ltd. (the "Company") is a
limited liability company registered under the Companies Act, Cap —
386 of the Laws of Malta, with registration number C 56519. The
Malta Financial Services Authority regulates NSFX with a License
Number IS/56519. NSFX is authorized to deal on its account as a
Category 3 licensed entity by the MFSA, receive and transmit orders
on behalf of retail and professional clients, and hold and control
clients' money and assets. NSFX trading platform services in the
English, French, German, Italian, and Arabic markets, whereby
customers can trade in currency, commodity, equity, and
cryptocurrency-linked derivatives in real time.
CIM
Securities, LLC
CIM Securities, LLC is a broker-dealer
registered with the United States Securities and Exchange
Commission (SEC) and is a member of the Financial Industry
Regulatory Authority (FINRA) and the Securities Investor Protection
Corporation (SIPC). As a broker-dealer, CIM and our Investment
Professionals offer brokerage services.
FDCTech,
Inc.
FDCTech, Inc. ("FDC") is
a US-based, fully integrated financial technology company. FDC
specializes in buying and integrating small to mid-size legacy
financial services companies. FDC develops and delivers a full
suite of technology infrastructure solutions to forex, crypto,
wealth management, and other future-proof financial
sectors.
Press
Release Disclaimer
This press release's
statements may be forward-looking statements or future expectations
based on currently available information. Such statements are
naturally subject to risks and uncertainties. Factors such as the
development of general economic conditions, future market
conditions, unusual catastrophic loss events, changes in the
capital markets, and other circumstances may cause the actual
events or results to be materially different from those anticipated
by such statements. The Company does not make any representation or
warranty, express or implied, regarding the accuracy, completeness,
or updated status of such forward-looking statements or information
provided by the third party. Therefore, in no case whatsoever will
Company and its affiliate companies be liable to anyone for any
decision made or action taken in conjunction with the information
and/or statements in this press release or any related
damages.
Contact Media
Relations
FDCTech, Inc.
info@fdctech.com
www.fdctech.com
+1
877-445-6047
200 Spectrum Center
Drive, Suite 300,
Irvine, CA,
92618
