Montreal, Quebec--(Newsfile Corp. - May 31, 2021) - Mobi724 Global Solutions Inc. (TSXV: MOS) ("Mobi724" or the "Company"), a fintech enabler of AI-enhanced payment card-linked solutions, announces its Q1-2021 financial highlights.
Q1-2021 vs. Q4-2020
- Revenue decreased by 3%: $191.2K in Q1-2021 compared to $196.2K in Q4-2020.
- The operating cost decreased by 49%: $872K in Q1-2021 compared to $1.724M in Q4-2020.
- Net loss decreased by 47%: $971.6K in Q1-2021 compared to $1.818M in Q4-2020.
Q1-2021 vs. Q1-2020
- Revenue decreased by 69%: $191.2K in Q1-2021 compared to $622K in Q1-2020.
- Net loss increased by 83%: $971.6K in Q1-2021 compared to $530.8K in Q1-2020.
Our cash position on March 31 was $636.9K.
Marcel Vienneau, CEO said: "In this past quarter we continued to regain sales and operations momentum, which we expect will produce results in the second half of this year. With the expansion of both our customer base and connectivity in Mexico & Central America we are becoming the Latam regional aggregator of rewards and offers."
Additional Information: This press release should be read in conjunction with the Company's Q1-2021 Management Discussion and Analysis and Q1-2021 Consolidated Financial Statements. This and additional information can be accessed under Mobi724's company profile on www.sedar.com.
About Mobi724 Global Solutions Inc.
Mobi724 Global Solutions Inc. (TSXV: MOS) is a fintech company which provides a platform, that enables banks and merchants to offer their customers real-time payment card-linked incentives, in a white-label format. Mobi724's objective is to add a layer of AI-driven actionable intelligence to every payment transaction, creating engaging consumer experiences & generating incremental commercial opportunities to its clients.
Legal Disclaimer
Mobi724 cautions investors that any forward-looking statements or projections made by Mobi724 are subject to risks and uncertainties that may cause actual results to differ materially from those projected. Such factors include, but are not limited to, those described under Item 'Risk Factors and Uncertainties' in the Company's Management Discussion and Analysis, available on SEDAR.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
THIS NEWS RELEASE DOES NOT CONSTITUTE A SOLICITATION TO BUY OR SELL ANY SECURITIES IN THE UNITED STATES AND IS NOT FOR DISTRIBUTION TO US NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES.
Investor Relations:
For further information, please visit www.MOBI724.com or contact:
Marcel Vienneau, CEO
Mobi724 Global Solutions Inc.
T: 514-394-5200 ir@mobi724.com
Eli Rozhansky, Investor Relations Coordinator
Mobi724 Global Solutions Inc. T: 514-394-5200 ir@mobi724.com
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/85921
