MOBI724 (TSXV:MOS), fintech company announced a 18 percent uptick in revenues since the first quarter reaching C$695,000 while net loss figures reached C$1.43 million, increasing by 28 percent over the same time period. The company cited investment in its cloud platform and auditing costs as reasons behind the increase in net loss for the quarter, …
MOBI724 (TSXV:MOS), fintech company announced a 18 percent uptick in revenues since the first quarter reaching C$695,000 while net loss figures reached C$1.43 million, increasing by 28 percent over the same time period. The company cited investment in its cloud platform and auditing costs as reasons behind the increase in net loss for the quarter, in addition to travel expenses.
As quoted in the press release:
Allan Rosenhek, CFO of Mobi724 commented: “We are deploying new technologies in the emerging markets which involve multiple variables, and where revenue generation has taken longer than projected. We are confident in the success of Mobi724 because we are deploying a highly scalable product, built to address very clear and real market needs. Our value proposition is fully aligned with the objectives sought by the largest parties in the payment ecosystem such as banks and payment processing networks.”
Marcel Vienneau, CEO of Mobi724 said: “In Q2 we continued the strategic repositioning of the Company, that we commenced in January 2019, and have started seeing benefits from this concentrated effort, both in early stage revenues and in the cross-regional progress in business development.”
MARKETS
COMMODITIES
Commodities | |||
---|---|---|---|
Gold | 1798.67 | -8.20 | |
Silver | 20.01 | -0.24 | |
Copper | 3.62 | -0.09 | |
Palladium | 1930.43 | +8.44 | |
Platinum | 897.24 | +0.23 | |
Oil | 104.92 | -0.84 | |
Heating Oil | 3.83 | 0.00 | |
Natural Gas | 5.67 | +0.25 |
DOWNLOAD FREE REPORTS
BROWSE COMPANIES BY SECTOR
- Agriculture Investing
- Phosphate Investing
- Potash Investing
- Base Metals Investing
- Copper Investing
- Iron Investing
- Lead Investing
- Nickel Investing
- Zinc Investing
- Battery Metals Investing
- Cobalt Investing
- Graphite Investing
- Lithium Investing
- Manganese Investing
- Vanadium Investing
- Critical Metals Investing
- Magnesium Investing
- Rare Earth Investing
- Scandium Investing
- Tantalum Investing
- Tellurium Investing
- Tungsten Investing
- Energy Investing
- Oil and Gas Investing
- Uranium Investing
- Gem Investing
- Diamond Investing
- Industrial Metals Investing
- Aluminum Investing
- Chromium Investing
- Coal Investing
- Molybdenum Investing
- Tin Investing
- Precious Metals Investing
- Gold Investing
- Palladium Investing
- Platinum Investing
- Silver Investing
- 3D Printing Investing
- Bitcoin Investing
- Blockchain Investing
- Cleantech Investing
- Cloud Investing
- Cryptocurrencies
- Data Investing
- Emerging Tech Investing
- Artificial Intelligence Investing
- Mobile Investing
- Robotics Investing
- Fintech Investing
- Gaming Investing
- Esports Investing
- Nanoscience Investing
- Graphene Investing
- Nanotech Investing
- Security Investing
Featured stocks
Investing News Network websites or approved third-party tools use cookies. Please refer to the cookie policy for collected data, privacy and GDPR compliance. By continuing to browse the site, you agree to our use of cookies.