ATW Tech Reports C$1.1 Million In Revenues Over Quarter

ATW Tech (TSXV:ATW), fintech company with digital applications including Option.vote, which develops secure voting systems announced its third quarter financial results. Over the quarter, the company reported C$1.1 million in revenues, including the sale of VuduMobile for C$1.35 million.

As quoted in the press release:

The Company also focused on improving its digital application, Option.vote, which offers a multi-method, customized and secure voting system for unions, political parties, professional associations, media companies and others looking for a way to reduce their voting costs and improve their participation rates.

“Since the third quarter of 2019, following the sale of VuduMobile’s assets, which was an excellent business opportunity, ATW Tech has been faced with an unexpected situation from its financial partner and was required to adjust its focus accordingly. ATW Tech is currently pursuing a change of financial partner since, despite numerous discussions between the Company and the financial institution, the current relationship cannot continue and will end no later than March 31, 2020. The Company is currently in discussions with financial institutions and expects to reach an agreement in the winter of 2020. The choice of financial partner will be based, among other things, on the financial institution’s understanding of the Company’s business model and value, as well as its ability to finance ATW Tech’s projects on commercially viable terms,” said Michel Guay, President and CEO of ATW Tech.

Click here to read the full press release.