Mobi724 Global Solutions Inc.
CSE : MOS
CSE : MOS.CN

Mobi724 Global Solutions Inc.

November 30, 2016 08:45 ET

Mobi724 Global Solutions Inc. (CSE:MOS) Q3 financial release - revenues increase by 707% and net loss decrease by 13% over 9 months

MONTREAL, QUEBEC--(Marketwired - Nov. 30, 2016) - MOBI724 Global Solutions Inc. ("MOBI724" or the "Company") (CSE:MOS) (CSE:MOS.CN), a Fintech leader offering all in one fully integrated EMV payment, card link couponing and digital marketing, has filed its Q3 financial results for quarter ending on September 30 2016.

Nine-Month Year-to-Date 2016 Highlights

  • Revenue grew 707% to $1.924M in 2016 from $272K in 2015
  • Net operating loss decreased by 13% to $1.885M from $2.160M in 2015
Nine-month period
2016 2015
$ $
Revenues 1 924 243 271 505
Total operating expenses 3 808 859 2 432 043
Operating income (loss) (1 884 616 ) (2 160 538)
Net financial expenses (income) 771 074 (78 780)
Net income (loss) before income taxes (2 655 690 ) (2 081 758)
Income tax expense (recovery) 5 554 5 327
Recovery of deferred tax (101 940 ) (101 940)
(96 386 ) (96 613)
Net income (loss) (2 559 304 ) (1 985 145)
Earnings (loss) per share (Note 12)
Basic and diluted (0,03 ) (0,04)
Weighted average number of outstanding common shares (Note 12)
Basic and Diluted 100 739 716 55 458 265

"These results reconfirms that our value creation strategy is gaining momentum. Our progress in our sales pipeline is such that we believe that 2017 will be a banner year for the company. We are about embarking on a USA and Canadian road shows to the investment communities so that they can better understand and appreciate our growth trajectory. We are expanding our talent pool and new key team members will be announced soon. The management and the board have focused on setting the stage for solid value creation in the coming year" says Marcel Vienneau - CEO.

About Mobi724 Global Solutions

MOBI724 Global Solutions Inc. (CSE:MOS), a leader in the Fintech industry based in Montreal (Canada), offers a unique and fully integrated suite of Payment & Digital Marketing solutions.

We are innovating in our market with a combined EMV Payment, Card Linked Offers, and Digital Marketing platform that works on any card and any mobile device. We pioneered in adding intelligence to all types of transactions benefiting banks, retailers and cardholders. We succeed in leveraging all available user and purchasing data to increase transaction volumes and spend.

MOBI724 provides a turnkey solution to its clients to capture card transactions on any mobile device, at any point of sale or from any payment card. Our easy-to-adapt gateway Switch is designed for easy integration with all payment protocols in our target markets.

Within the same solution suite we combined our Card Linked Offers solution, and provided financial institutions´ payment card portfolios and retailers the ability to add offers and/or coupons which can be redeemed directly at the Point of Sale, in a seamless user experience for all the parties 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.

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