Mobi724 Global Solutions Inc.
CNSX : MOS

Mobi724 Global Solutions Inc.

June 01, 2016 08:45 ET

Mobi724 Global Solutions Inc. (CSE:MOS) Releases Q1 Revenues Up 630% and Operating Loss Decrease by 30%

MONTREAL, QUEBEC--(Marketwired - June 1, 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 Q1 financial results for quarter ending on March 31 -2016.

Highlights:

  • Revenues year over year increase for Q1 increase 630% to 557K versus 88k.
  • The acquisition of IQ 7/24 is now fully consolidated in Q1.
  • Notwithstanding the acquisition of IQ 7/24 Inc. completed in Q4 with the addition SG&A of 173k: $1.256M in Q1 2016 compared to $1.083M in Q1 2015.
  • Decrease operating lost by 30% to (699k) versus (995k) despite an increase by 173k in operating costs in the consolidated phase.
(in $'000) March 31, 2016 March 31, 2015
Sales 557 88
Operating Expenses 1,256 1,083
Operating Loss (699 ) (995 )
Other Expenses (Income) 298 3,371
Income Tax expense (recovery) (34 ) (34 )
Net Loss (964 ) (4,332 )
Loss per share
Basic and Diluted $(0.01 ) $(0.10 )
  • During the three month period ended March 31, 2016, a total of 3,030,303 warrants were exercised for a cash consideration of $250,000 (exercise price at $0.0825)
  • The Company is progressing in a new round of financing of $3 million which is expected to be concluded in Q2 or beginning of Q3 2016.

"We are starting to see the beginning of the results of our strategy that we put forward in mid-year 2015" said Marcel Vienneau, CEO. "The company continues to make material progress in its sales funnel globally and continues to make material progress in its funding plan. This have been the best quarter in the company's history. We now have traction with our 3 turnkey solutions and this confirms the value proposition we are bringing to the market globally".

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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