• Connect with us
    • Information
      • About Us
      • Contact Us
      • Careers
      • Partnerships
      • Advertise With Us
      • Authors
      • Browse Topics
      • Events
      • Disclaimer
      • Privacy Policy
    • Australia
      North America
      World
    Login
    Investing News NetworkYour trusted source for investing success
    • North America
      Australia
      World
    • My INN
    Videos
    Companies
    Press Releases
    Private Placements
    SUBSCRIBE
    • Reports & Guides
      • Market Outlook Reports
      • Investing Guides
    • Button
    Resource
    • Precious Metals
    • Battery Metals
    • Base Metals
    • Energy
    • Critical Metals
    Tech
    Life Science
    Emerging Technology Market
    Emerging Technology News
    Emerging Technology Stocks
    • Emerging Technology Market
    • Emerging Technology News
    • Emerging Technology Stocks
    mobile investing

    Weyland Tech Provides Business Update

    Jocelyn Aspa
    Aug. 24, 2017 10:02AM PST
    Emerging Technology

    Weyland Tech (OTCQB:WEYL) has announced a shareholder update following its second quarter financial results. As quoted in the press release: The results may be found in the Company’s Form 10-Q filed with the Securities and Exchange Commission. A more comprehensive description of the Company’s business strategy is also discussed below. Quarterly HighlightsResults of OperationService Revenue …

    Weyland Tech (OTCQB:WEYL) has announced a shareholder update following its second quarter financial results.
    As quoted in the press release:

    The results may be found in the Company’s Form 10-Q filed with the Securities and Exchange Commission. A more comprehensive description of the Company’s business strategy is also discussed below.
    Quarterly Highlights
    Results of Operation
    Service Revenue
    Service Revenue was $6,476,022 and $6,394,984 for the six months ended June 30, 2017 and 2016, respectively. The increase is due to the service income from our customers.
    Although only slightly higher than the previous reporting period, there was a pricing reduction by our partners that was designed to incentivize resellers to increase the number of subscribers renewing their subscriptions based on lower pricing. The company expects revenue to per subscriber to grow as additional transaction services currently in development are deployed.
    Cost of Service
    Cost of Service was $5,095,509 and $3,673,639 for the six months ended June 30, 2017 and 2016, respectively. Included are development costs of $ 390,772 (2016: $1,750,000). The increase during the period reflects our revised normal gross margins for our core subscription business.
    Although booked as Cost of Service, our audit committee and our auditor, took a highly conservative approach and will reclassify as R&D in the coming quarters.
    Operating Expenses
    General and Administrative expenses were $478,893 and $493,188 and for the six months ended June 30, 2017 and 2016, respectively.
    Net Profit (Loss)
    The Company had a net profit of $745,536 and $2,259,327 for the six months ended June 30, 2017 and 2016, respectively. Gross margins decreased from 43% to 21% for six months ended June 30, 2017, decreased from 28% to -11% for three months ended June 30, 2017.

    Click here to read the full press release.

    mobile investingfinancial resultsshareholder update
    The Conversation (0)

    Go Deeper

    AI Powered
    Westport Reports Second Quarter 2025 Financial Results

    Westport Reports Second Quarter 2025 Financial Results

    Snap Inc. Announces Second Quarter 2025 Financial Results

    Latest News

    Outlook Reports

    Resource
    • Precious Metals
      • Gold
      • Silver
    • Battery Metals
      • Lithium
      • Cobalt
      • Graphite
    • Energy
      • Uranium
      • Oil and Gas
    • Base Metals
      • Copper
      • Nickel
      • Zinc
    • Critical Metals
      • Rare Earths
    • Industrial Metals
    • Agriculture
    Tech
      • Artificial Intelligence
      • Cybersecurity
      • Gaming
      • Cleantech
      • Emerging Tech
    Life Science
      • Biotech
      • Cannabis
      • Psychedelics
      • Pharmaceuticals

    Featured Emerging Technology Stocks

    Alphinat

    NPA:CC
    More featured stocks

    Browse Companies

    Resource
    • Precious Metals
    • Battery Metals
    • Energy
    • Base Metals
    • Critical Metals
    Tech
    Life Science
    MARKETS
    COMMODITIES
    CURRENCIES
    ×