Mobi724 Global Solutions Inc. – Q3 Financial Release

Revenues increase by 707% and net loss decrease by 13% over 9 months.

MOBI724 Global Solutions Inc. (CNSX:MOS), 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.

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