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TIMIA Capital Announces Year End and Fourth Quarter Financial Results

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TIMIA Capital Corporation (“TIMIA” or the “Company”) (TSX-V:TCA) today announced financial results for the fourth quarter and year ended November 30, 2019.

2019 Annual Highlights include:

  • Record revenue of $3,288,263, up 89% over prior year
  • Interest income from investments, included in total revenue, doubled to $3,046,608 compared to last year
  • Total assets grew over 90% to $27.1 million compared with the prior year. Cash balance, as part of assets, was $4,662,156 versus $3,749,949 as at November 30, 2018
  • TIMIA’s loan investment portfolio (Loans receivable) increased 123% to $21,596,037 compared to $9,680,390 in the prior year period
  • Adjusted EBITDA* of $247,431 compared with an Adjusted EBITDA of $1,342,749 for the prior year. The change in Adjusted EBITDA reflects the $1,582,906 intermittent gains from loan buyouts in the prior year
  • The Company posted a net loss of $1,087,567 compared with a small gain of $18,838 in the prior year. The year over year change reflects the $1,582,906 intermittent gains from loan buyouts in the prior year
  • Net loss per share was $0.03 compared with breaking even in the prior year
  • A total of $15,895,000 in combined financing has been raised including $545,000 in debentures with warrants by way of a private placement of the Company and $15,350,000 in capital raised in TIMIA Capital 1 Limited Partnership funds

Fourth Quarter 2018 Highlights Include:

  • Record quarterly revenue of $998,431, up 99% compared to the same period last year
  • TIMIA dispersed US$2,300,000 to two US companies
    • TIMIA provided San Francisco-based Resilio, Inc. with a $3,000,000 facility with an initial advance of $900,00
    • TIMIA provided a Connecticut-based software company with a $3,000,000 facility with an initial disbursement of $1,400,000
  • TIMIA provided follow on investments of US$1,500,000 to three US companies
  • Adjusted EBITDA loss of $50,196 compared with an Adjusted EBITDA of $100,347 for the prior year period

“We’ve achieved record growth in revenue and assets under management for the third year in a row by leveraging our fintech platform and successful business model,” said Mike Walkinshaw, CEO of TIMIA. “Our reputation, target markets and related deal flow is growing in the SaaS industry, along with our non-dilutive growth capital for early stage technology companies. We have seen a jump in referred business from our existing network of clients as we continue to broaden our marketing presence to attract new business. Our portfolio of SaaS companies has never been stronger as our fintech platform improves with each potential client.”

Detailed Financial Review

During the year ended November 30, 2019, the Company continued to grow its revenue-financing (“RF”) business by completing 9 RF investments as well as successfully exiting 1 investment from its loan portfolio. The Company’s revenue is primarily interest income generated under the Company’s RF model. Interest income in the year ended November 30, 2019 was a record $3,046,608 compared to $1,521,999 in the prior fiscal year.

The 100% increase in interest income is driven from two sources:

  1. As the Company makes new investments, the number of monthly payments derived from the portfolio grows.
  2. Under the RF structure, as the revenue of the underlying portfolio grows, the investees make larger blended interest and principal payments to the Company.

Income from transaction and other fees was $241,655 in the year ended November 30, 2019 compared to $216,240 in the prior fiscal year, resulting in a record total revenue of $3,288,263.

TIMIA continues to build the value and size of its portfolio by making new investments and follow-on investments in existing portfolio companies, and actively assisting in their growth plans. Furthermore, management expects the payment amounts to increase over time as both new and follow-on investments are made and as payments increase from the underlying portfolio. During the year ended November 30, 2019, TIMIA benefited from increased payments (combined principal and interest) as a result of the strong revenue growth of its underlying portfolio.  At the same time, the Company increased its investments in infrastructure, including key staff and brand awareness.

Total expenses for the year ended November 30, 2019 were $3,461,837 compared with $2,873,167 for the prior year. The increase in expenses reflect TIMIA’s investment in infrastructure, increase in interest expense resulting from the issuance of debentures with warrants, marketing and related deal origination expenses and brand awareness.

During the year ended November 30, 2019, the Company posted net loss of $1,087,567 compared with net income of $18,838 for the last fiscal year. The year over year change is primarily due to the Company recognizing intermittent investment gains from loan buyouts of $1,582,906 in 2018 but no material gains in 2019.

As at November 30, 2019, the Company’s cash balance was $4,662,156 and working capital was $4,571,341 compared to $3,749,949 and $3,614,268 respectively as at November 30, 2018.

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SOURCE TIMIA Capital Corp.

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CCTV+: From Silk Road Gateway to Global Innovation Hub: Xi’an Advances Industrial Upgrades and International Cooperation

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XI’AN, China, Nov. 2, 2024 /PRNewswire/ — Xi’an, an ancient capital and starting point of the Silk Road, is growing rapidly into a cosmopolis of technological innovation, industrial transformation and international cooperation. The city is becoming a global hub for innovation and economic cooperation and a destination that converges historical heritage with modern creativity. By leveraging initiatives in New Quality Productivity, the Internet of Things, high-tech industries, culture, and international business services, Xi’an showcases its dynamic blend of past and future.

Industrial Development: Technology and Innovation Drive Emerging Industry Clusters

Aiming to establish itself as an international hub with rapid scientific and technological innovation, Xi’an is now building a comprehensive national science center and a center for science and technology innovation.

The Silk Road Technology City is now home to more than 4,000 companies and has fostered two major industry clusters, in optoelectronics and automobiles, each worth tens of billions. Leading industry giants like BYD and Samsung have established themselves here, taking advantage of Xi’an’s robust policy support for innovation-led growth. LONGi, a world leader in solar technology, is actively building Shaanxi’s 100-billion-grade silicon-based solar PV industry innovation cluster, driving industry-wide growth through R&D and supply chain expansion; while BYD’s comprehensive new energy vehicle industry chain has also positioned Xi’an as a key base for new energy technology and electric vehicles.

Belt and Road Hub: Connecting Development Across Borders

As a central hub along the Belt and Road, Xi’an recently hosted the Belt and Road Forum for International Think Tank Cooperation, fostering collaboration and advancing connected, networked development through the trans-Eurasian transport corridor. With growing trade opportunities, Xi’an is also expanding its reach into international markets, particularly in Central Asia, exporting specialty agricultural products like kiwi fruit.

Through conventions and conferences, Xi’an has demonstrated its significant potential for international economic cooperation, establishing stronger ties in Central Asia and Belt and Road countries.

New Quality Productivity: Smart Technologies and Advanced Manufacturing Fuel Growth

New Quality Productivity is driving Xi’an’s high-quality development leveraging smart technologies and intelligent manufacturing. Local enterprises like SUNNYIT are promoting innovative applications of IoT technologies to tackle industry bottlenecks, Xi’an Chinastar M&C Limited is supporting real-time urban management with products including smart manhole covers and parking monitoring systems to support urban safety and municipal services.

Industrial robots and intelligent manufacturing are also accelerating Xi’an’s industry transformation. Xi’an Aerospace Automation’s 4,000-kilogram robot, designed for warehouse logistics, highlights the city’s advancements in high-load, high-precision applications.

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High-Quality Development: Digital Technology Empowers Xi’an’s Smart City Ambitions

Xi’an is progressing in smart city development, enabling companies to utilize big data and AI for comprehensive traffic analysis, enhancing traffic management efficiency, and establishing a “transportation+” multi-scenario service system to improve travel experiences.

Xi’an looks to cooperate with more companies and research institutions in fields of environmental protection, water-related affairs, education, and urban management with the goal of promoting technological breakthroughs in areas such as intelligent video analysis and large-scale AI models, empowering city management and services through digital technologies and support the development and innovation of companies in the city.

Opening Up to the World: Xi’an Shares Its Story and Strengthens Business Environment

The newly established Xi’an International Communication Center shares Xi’an’s story in multiple languages, promoting Chinese culture and positioning Xi’an as a major platform for cultural exchange. Additionally, a legal service center in Xi’an Chanba International Port now offers comprehensive legal support, fostering a fair and just international business environment.

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KuCoin Shines at The Gateway Event, Advocating for Blockchain Innovation Through TON

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DUBAI, UAE, Nov. 2, 2024 /PRNewswire/ — KuCoin, a global leader in the cryptocurrency exchange arena, is thrilled to announce its active participation at this year’s premier TON community event, The Gateway. The annual conference, renowned for uniting key players in the TON ecosystem, aligns perfectly with KuCoin’s mission to democratize cryptocurrency and expand its reach across the globe.

Representing KuCoin at the event was Alicia, who took part in the insightful panel discussion on “Perspective Sectors on TON for VCs and Exchanges.” Her presence underscored the vibrant potential of the venture capital market within emerging blockchain technologies, particularly the TON ecosystem. Alicia’s discussion highlighted how TON’s seamless integration with Telegram presents unique opportunities for innovation and user engagement, resonating with KuCoin’s strategic initiatives to bridge social connectivity with financial transactions.

“TON’s integration with Telegram not only simplifies the user experience but also amplifies it, making it a gateway for millions to engage with Web3 technologies,” Alicia stated. She emphasized KuCoin’s commitment to leveraging this synergy to enhance secure, user-friendly trading experiences, thus furthering its mission of putting crypto in every pocket.

KuCoin’s participation in The Gateway event reinforces its dedication to fostering a secure, robust, and accessible trading environment, paving the way for a new era of crypto and blockchain integration.

About KuCoin

Launched in September 2017, KuCoin is a leading cryptocurrency exchange with its operational headquarters in Seychelles. As a user-oriented platform with a focus on inclusiveness and community engagement. It offers over 800 digital assets across Spot trading, Margin trading, P2P Fiat trading, Futures trading, and Staking to its 36 million users in more than 200 countries and regions. KuCoin ranks as one of the top 6 crypto exchanges. KuCoin was acclaimed as “One of the Best Crypto Apps & Exchanges of June 2024” by Forbes Advisor and has been included as one of the top 50 companies in the “2024 Hurun Global Unicorn List”. Learn more at https://www.kucoin.com/

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UBS Asset Management launches its first tokenised Money Market Fund, available through DigiFT

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SINGAPORE, Nov. 2, 2024 /PRNewswire/ — UBS Asset Management, launches its first tokenized investment fund “uMINT”, made available through authorized distribution partner, DigiFT.

With DigiFT, investors can subscribe to uMINT using their preferred custody wallet solution, gaining access to real-time redemption capabilities via DigiFT’s platform. uMINT, a Money Market investment underpinned by high quality money market instruments based on a conservative, risk-managed framework, is built on Ethereum distributed ledger technology and issued under UBS Tokenize, UBS’s in-house tokenization service, a full service offering for digital asset services, that seeks to open the door to the world of decentralized finance to a broader range of market participants.

“We’re honoured to be an authorized distribution partner for UBS Asset Management in launching their first tokenized money market fund. This is a significant milestone in the world of Web3, and a testament of our ability to transform capital markets. Not only does this partnership bridge traditional finance with digital and decentralized technologies, it also demonstrates our ability to deliver next-generation investment solutions on an open network – for a new generation of global investors,” said Henry Zhang, Founder & Chief Executive Officer of DigiFT.

As part of the partnership, DigiFT will provide infrastructure for managing and monitoring on-chain distribution activities and transactions for the new tokenized money market fund. Enabled by blockchain technology, DigiFT’s best-in-class, open infrastructure ensures all transactions are stored and recorded on an immutable ledger, providing real-time operational and audit visibility. Beyond streamlining administrative processes, DigiFT is able to leverage smart contracts and facilitate automated compliance and operational efficiencies, further allowing investors to invest and explore new financial Web3 use cases.

DigiFT is the first exchange deploying smart contract methods and processes, with an automatic market-making mechanism, to be recognized as a Recognised Market Operator (RMO) and awarded the Capital Markets Services (CMS) license by the Monetary Authority of Singapore.

Disclaimer: This article is not an advertisement making an offer or calling attention to an offer or intended offer

About DigiFT

DigiFT is the first exchange for on-chain real-world assets to be licensed by the Monetary Authority of Singapore. Find out more www.digift.sg

For media enquiries, please contact [email protected]

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