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Zoompass Holdings (OTCQ:ZPAS) has announced it has filed its 10-Q report for the period ended March 31, 2017, highlighting net revenue of $254,683, gross margin of $37,659 and a net loss of $635,659. As quoted in the press release: The Company was extremely pleased to report a positive trend in net revenue which was up …
Zoompass Holdings (OTCQ:ZPAS) has announced it has filed its 10-Q report for the period ended March 31, 2017, highlighting net revenue of $254,683, gross margin of $37,659 and a net loss of $635,659.
As quoted in the press release:
The Company was extremely pleased to report a positive trend in net revenue which was up 191% in the first quarter of 2017, compared with the net revenue for the quarter ended December 31, 2016 and 290% compared with the quarter ended September 30, 2016iii. The Company believes that the increasing trend in net revenue was a result of the Company’s efforts to gaining traction in the Company’s prepaid card solutions as well as revenue from the launch of the Company’s mobility solutions. The Company believes that additional traction from the mobility solutions, the launch of the Company’s Mobile Money Platform and the business from the previously announced agreements should continue to drive the Company’s results for the months ahead.
Rob Lee, Chief Executive Officer of the Company, commented, “We are extremely pleased with the direction the Company is headed and believe it is a direct result of the efforts of Zoompass’ employees and business partners. We believe the launch of our new revenue pillars, the continued traction across our existing revenue pillars, as well as potential synergies across our financial solutions offerings, will have a positive impact on the Company’s results and ultimately shareholder value.”