Mobi724 Global Solutions Inc.
CNSX : MOS

Mobi724 Global Solutions Inc.

May 02, 2016 08:45 ET

Mobi724 Global Solutions Inc. (CSE:MOS) Releases 2015 Financials

MONTREAL, QUEBEC--(Marketwired - May 2, 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 financial results for the year ended December 31, 2015.

The results for the year ended December 31, 2015 reflect year over year revenue growth of 290 %, and operating loss reduction of 70 % as compared to the previous year not including our recent strategic acquisition of IQ/724.

"2015 was the year of transformation as we set the base of the monetization of all our solutions, materially improved our balance sheet to regain confidence of our investors and signed multiple agreements to set the company on its path to accelerated growth including the completion of our first acquisition" said Marcel Vienneau, chief executive officer at Mobi724 Global Solutions.

We signed multiple strategic alliances for the Latam and Asia Pacific markets as well as signed multiple global brands contracts that are now part of our growing portfolio of customers. We were successful in reducing the debt with vendors of company to regain the confidence of our shareholders and focus on its future prospects. We continued our cost reduction through the year and delivered our best year yet. We concluded our first acquisition in the Canadian market. This enabled us to double our bandwidth to better serve our fast growth international markets. IQ724 with its 400 plus customers including global and Canadian top brands and very high recurring revenue model sets the stage as another valuable part of our global growth strategy. As well we were supported by new investors including a global institutional investor - Fidelity that continued to invest in several funding executed during the year.

We are very proud of the progress this past year and now positioned to have a very excited 2016 and beyond:

  • Revenue of $437k for the year ended December 31, 2015 (an increase over 290%) as compared to $149k for the year ended December 31, 2014;
  • The strategic acquisition of IQ/724, concluded in December 2015 (not consolidated in 2015):
    • IQ/724 generated sales of $1.54M in 2015;
    • IQ/724 financial statements will be consolidated in Mobi724 Global Solutions in 2016;
    • Both Mobi724 and IQ/724 have a high recurring revenue model.
  • A Material operating expenses reduction of $5.3M (a reduction of 70%) from $7.5 to $2.2M;
  • Loss from operations before depreciation, amortization, and stock based compensation was $1.75M for the year ended December 31, 2015 (a reduction of more than 75%), as compared to $7.35M for the year ended December 31, 2014;
  • Comprehensive loss of $2.2M for the year ended December 31, 2015 as compared to a comprehensive loss of $3.2M for the year ended December 31, 2014.

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.

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