Mobi724 Global Solutions Inc.

Mobi724 Global Solutions Inc.

August 05, 2016 13:19 ET

Mobi724 Global Solutions Inc. (CSE:MOS) Releases Revenues Increase by 800% and Net Loss Decrease by 43% Over 6 Months and Adds New Board Member

MONTREAL, QUEBEC--(Marketwired - Aug. 5, 2016) - MOBI724 Global Solutions Inc. ("MOBI724" or the "Company")(CSE:MOS), a Fintech leader offering all in one fully integrated EMV payment, card link couponing and digital marketing, has filed its Q2 financial results for quarter ending on June 30 2016.

Six-Month Year-to-Date 2016 Highlights

  • Revenue grew 800% to $1.283M in 2016 from $161K in 2015
  • Net loss decreased by 43% to ($1.6M) from ($2.8M) in 2015
Mobi724 Global Solutions Inc. Six-month period
(in $'000) 2016 2015
$ $
Revenues 1 283 161
Operating Expenses 2 716 1 876
Operating Income (Loss) (1 433 ) (1 716 )
Other Expenses (Income) 260 1 161
Income Tax Expense (Recovery) (68 ) (65 )
Net Income (Loss) (1 626 ) (2 811 )
Loss per share (0,02 ) (0,06 )
Weighted Average Number Shares 99 196 720 45 418 190

Second Quarter 2016 Highlights

  • Revenue grew 30%: $725K in Q2 2016 vs $557K in Q1 2016
  • Net loss decrease by 31%: ($662K) in Q2 2016 vs ($962K) in Q1 2016

"These great results confirms that we have set the stage for value creation of the company. I am very confident with the progress of sales pipeline and customer approval in the targeted markets for our solutions is gaining traction. As well, we are focused on completing the funding with our partners so we can continue our rapid growth in line with our strategic plan" said Marcel Vienneau - CEO

The board is pleased to announce that Andre Halley will join the board. Andre has extensive career as an executive with companies such as Bell Canada - Bell Mobility - Teleglobe Canada as regional VP for Europe and Africa, CEO of TIW Asia of Hong Kong, CEO of Ooreedo Algeria, board member of European Data Communications, Skywave Communications, Chairman of Cassiot, Executive Chairman of Prevtech Mircobia Inc., Chairman of the advisory board of 2KIC INC. "I am very happy that Andre is joining our board and that he will leverage his extensive network in Asia Pacific and Middle East to actively market the licenses of our solutions in those regions. His strategic views will add value to our governance" said CEO - Marcel Vienneau

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 - DIGITAL MARKETING (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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