BERLIN, GERMANY / ACCESSWIRE / January 24, 2024 / Fast Finance Pay Corp. (OTC PINK:FFPP) today announced its financial results for the fiscal year ended December 31, 2023.
Rahul Mital, President of Fast Finance Pay Corp. stated, "As we continue to navigate through some challenging markets which included higher interest rates and inflation, we committed ourselves to delivering value for our shareholders and partners. I am pleased with our efforts throughout 2023, all of which resulted in record revenues, operating income and net income. Our customer centric focus has resulted in obtaining more customers throughout numerous markets while delivering a higher level of customer satisfaction at all levels."
Operating Results for the Fiscal Year Ended December 31, 2023
- Revenues for the twelve months ended December 31, 2023 were $4.5 million, an increase of 292% from $1.2 million in the same period of 2022.
- Gross profit was $1.8 million, compared to $307 thousand in the same period in 2022.
- Net profit was $180 thousand, as compared to $142 thousand in the same period of 2022.
"When I came on board in mid-December we were in the process of our soft launch of DigiClerk.com. I could not be happier with the launch, the feedback and more importantly success we have attained in such a short period of time. The platform specializes in Artificial Intelligence powered document processing tailored for accountants, lawyers and various sectors within real estate," continued Mr. Mital. "Our balance sheet improved throughout the year which resulted in a $2.2 million increase in our shareholder equity which was $6.4 million at the end of the year. This improvement provides us the flexibility to continue expansion plans and to explore uplisting opportunities onto a major stock exchange."
About Fast Finance Pay Corp.
Fast Finance Pay Corp. is a gateway provider and nascent FinTech, Fast Finance Pay Corp offers a flexible payment platform to assist e-merchants with their online ventures. It allows e-merchants to process all popular payment methods with just one partner instead of installing a multitude of "payment plugins".
OK.de Services contains the OK.de mobile 'free-mailer' e-mail and end-to-end secure, encrypted, instant messaging service. Ok.de is a free email provider with news, comparison portal and numerous other free services. With this service, we are building an active user interface that is used to connect people all over the world on one platform.
With OK.secure, we release a completely free and absolutely secure Messenger-Service on the market: private and secure messaging with a military level of encryption. Via end-to-end-encryption based on the blockchain-technology, OK.secure provides secure communication with chat, video calls, and cloud storage.
For additional information, visit www.ff24pay-corp.com.
Forward-looking statements
This news release may contain forward-looking statements within the meaning of Section 27a of the Securities Act of 1933 (as amended) and section 21e of the Securities and Exchange Act of 1934 (as amended). Those statements include the intent, belief or current expectations of the Company and its management team. Forward-looking statements are projections of events, revenues, income, future economics, research, development, reformulation, product performance or management's plans and objectives for future operations. Some or all the events or results anticipated by these forward-looking statements may not occur. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those projected in the forward-looking statements because of various factors. Accomplishing the strategy described herein is significantly dependent upon numerous factors, many that are not in management's control.
Investor Relations
Andrew Barwicki
516-662-9461
andrew@barwicki.com
SOURCE: Fast Finance Pay Corp.
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