Connect with us
Prague Gaming & TECH Summit 2024

Fintech PR

Prodigy Ventures Inc. Announces Record Q4 Revenue, Full Year Results

Published

on

Reading Time: 3 minutes

 

Prodigy Ventures Inc. (TSXV: PGV) (“Prodigy” or the “Company“) today announced the results for the year and fourth quarter ended December 31, 2018.

“Prodigy continued its rapid revenue growth in 2018, with the greatest acceleration in the last half of the year.” said Tom Beckerman, Prodigy’s CEO. “Gross profit increases enabled the company to make additional R&D, sales and marketing expenditures to build for the future. Prodigy’s client base continues to expand beyond the banking sector and also into the USA, as the Company reduces revenue concentration and creates new, higher margin opportunities.”

Full Year 2018 Financial Results

  • Revenue for the year ended December 31, 2018 totalled $16,943,045 compared to $12,140,692 for the year ended December 31, 2017, an increase of 40%.
  • Gross profit for the year ended December 31, 2018 of $4,050,984 as compared to $3,599,780 for the year ended December 31, 2017, an increase of 13%.
  • Operating Expenses for the year ended December 31, 2018 of $3,782,792 as compared to $3,093,319 for the year ended December 31, 2017, an increase of 22%, primarily due to increases in staff costs.
  • Net Income for the year ended December 31, 2018 totalled $175,595 as compared to $347,528 for the year ended December 31, 2017, a decrease of 49%.
  • The Company had working capital of $2,688,268 as of December 31, 2018 compared to $2,292,644 as of December 31, 2017.

Fourth Quarter 2018 Financial Results

  • Revenue for the three-month period ended December 31, 2018 totalled $4,687,362 compared to $3,007,244 for the three months ended December 31, 2017, an increase of 56%.
  • Gross profit for the three-month period ended December 31, 2018 of $1,117,740 as compared to $797,247 for the three-month period ended December 31, 2017, an increase of 40%.
  • Operating Expenses for the three-month period ended December 31, 2018 of $1,108,179 as compared to $778,139 for the three-month period ended December 31, 2017, an increase of 42%.
  • Net Income for the three-month period ended December 31, 2018 totalled $1,418 as compared to $5,310 for the three-month period ended December 31, 2017, a decrease of 73%.

The complete audited financial statements and associated Management’s Discussion and Analysis are available under the Company’s profile at www.sedar.com or the Company’s website at www.prodigy.ventures.

Three months ended 
December 31

Year ended 
December 31

2018

$

2017

$

2018

$

2017

$

Revenue

4,687,362

3,007,244

16,943,045

12,140,692

Gross Profit

1,117,740

797,247

4,050,984

3,599,780

Expenses

1,108,179

778,139

3,782,792

3,093,319

Net and comprehensive income for the period

1,418

5,310

175,595

347,528

Net income per share – basic and diluted

0.00

0.00

0.00

0.00

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

About Prodigy Ventures Inc.

Prodigy is an innovation company that has combined an enterprise technology services business – Prodigy Labs – with a Venture Builder business. The two businesses work together to create and deliver new enterprise and consumer platforms and apps using emerging technologies in mobile, video, secure ID, voice, blockchain, artificial intelligence, payments and augmented reality.

Prodigy has been ranked as the 9th fastest growing Canadian company on the 2018 Growth 500, Canadian Business’ Ranking of Fastest-Growing Canadian Companies. Prodigy has also been named as one of Canada’s fastest growing technology companies in the 19th, 20th and 21st annual Deloitte Technology Fast 50™ awards for demonstrating bold innovation, dedicated leadership and strong growth. In addition, Prodigy also ranked on Deloitte’s Technology Fast 500™, a ranking of the 500 fastest growing technology, media, telecommunications, life sciences and energy tech companies in North America. Prodigy has also been named to the prestigious Branham300 list for the second consecutive year. This ranking recognizes the financial performance of Canadian companies in the Information and Communications Technologies sector.

Forward-Looking Statements

Certain information set out in this news release constitutes forward-looking information. Forward looking statements are often, but not always, identified by the use of words such as “seek”, “anticipate”, “plan”, “continue”, “estimate”, “expect”, “may”, “will”, “intend”, “could”, “might”, “should”, “believe” and similar expressions. In particular, this news release contains forward-looking statements in respect of among other things, the Company’s expectations with respect to higher margin revenue opportunities. Although the Company believes that the expectations reflected in such forward-looking statements are based upon reasonable assumptions, and that information obtained from third party sources is reliable, they can give no assurance that those expectations will prove to have been correct. Readers are cautioned not to place undue reliance on forward-looking statements included in this document, as there can be no assurance that the plans, intentions or expectations upon which the forward-looking statements are based will occur. By their nature, forward-looking statements involve numerous assumptions, known and unknown risks and uncertainties that contribute to the possibility that the predictions, forecasts, projections and other forward-looking statements will not occur, which may cause actual results in future periods to differ materially from any estimates or projections of future performance or results expressed or implied by such forward-looking statements. These risks and uncertainties include, among other things, risk factors set forth in the Company’s Management’s Discussion and Analysis for the year ended December 31, 2018, a copy of which is filed on SEDAR at www.sedar.com. Readers are cautioned that this list of risk factors should not be construed as exhaustive. These statements are made as at the date hereof and unless otherwise required by law, the Company does not intend, or assume any obligation, to update these forward-looking statements.

 

SOURCE Prodigy Ventures Inc.

Fintech PR

Vantage Markets extends its competitive edge on Indices product offering with enhanced Website and App, promoting greater transparency and cost savings

Published

on

vantage-markets-extends-its-competitive-edge-on-indices-product-offering-with-enhanced-website-and-app,-promoting-greater-transparency-and-cost-savings

PORT VILA, Vanuatu, March 28, 2024 /PRNewswire/ — Building upon its recent success in revamping its indices product offering, leading CFD broker Vantage Markets (“Vantage”) is thrilled to announce the introduction of enhanced website features and app enhancements, further solidifying its position as a leader in the industry.

To further support indices CFD traders, Vantage has revamped its website with new features dedicated to indices trading. Traders will find extensive educational content, transparent pricing comparisons with competitors, and increased visibility into spreads offered by Vantage Markets.

“We’re committed to empowering traders with the tools they need to succeed,” remarked Marc Despallieres, Chief Strategy and Trading Officer. “Our latest developments reflect our dedication to becoming the premier destination for Indices CFD trading, providing clients with the edge they need in today’s dynamic markets.”

Indices CFD trading offers numerous advantages, including lower upfront capital requirements, leveraged trading options, and the flexibility to trade in any direction. With Vantage Markets, traders can capitalise on these benefits while tapping on a comprehensive suite of advanced tools and educational resources.

Additionally, the Vantage App has been enhanced with advanced charting tools, enabling traders to analyse market trends and execute trades with precision directly from their mobile devices.

“We’re excited to provide traders with a wealth of educational content and transparent pricing,” said Lian Jie, Assistant APP Marketing Director. “Our goal is to empower traders with the information they need to make confident decisions and succeed in the markets.”

Discover the future of Indices CFD trading with Vantage Markets. Visit https://www.vantagemarkets.com/lp/indices-trading/ to learn more.

About Vantage

Vantage is a multi-asset broker offering clients access to a nimble and powerful service for trading Contracts for Difference (CFDs) products, including Forex, Commodities, Indices, Shares, ETFs, and Bonds.

With over 13 years of market experience, Vantage transcends the role of broker, providing a trusted trading ecosystem, an award-winning mobile trading app, and a user-friendly trading platform that empowers clients to seize trading opportunities. Download the Vantage App on App Store or Google Play.

trade smarter @vantage

http://www.vantagemarkets.com/

Photo – https://mma.prnewswire.com/media/2373057/PR_Banner_1920x1080.jpg
Logo – https://mma.prnewswire.com/media/1745281/Vantage_Logo.jpg

Cision View original content:https://www.prnewswire.co.uk/news-releases/vantage-markets-extends-its-competitive-edge-on-indices-product-offering-with-enhanced-website-and-app-promoting-greater-transparency-and-cost-savings-302102051.html

Continue Reading

Fintech PR

WSPN and MathWallet Jointly Launch StableWallet, Pioneering AA Wallet for Web3

Published

on

wspn-and-mathwallet-jointly-launch-stablewallet,-pioneering-aa-wallet-for-web3

TORTOLA, British Virgin Islands, March 28, 2024 /PRNewswire/ — WSPN, a global digital payments leader providing transparent, fast, and efficient solutions leveraging distributed ledger technology, has partnered with leading Web3 wallet provider MathWallet to launch StableWallet – a groundbreaking new account abstraction (AA) wallet that represents a major advancement in the Web3 space. StableWallet provides enhanced security, convenience, and flexibility for managing digital assets across multiple blockchains.

“Through our partnership with MathWallet, we are proud to introduce StableWallet, leveraging pioneering AA technology to transform digital asset management,” said Raymond Yuan, Founder of WSPN. “StableWallet exemplifies our commitment to driving innovation in digital payments and the Web3 ecosystem.”

Account abstraction (AA) wallets represent a significant leap forward in the Web3 ecosystem, blurring the lines between traditional private key wallets and smart contract-based accounts. By integrating both functionalities, AA wallets enable users to define their wallets through programmable smart contracts, unlocking a realm of advanced features and customization options.

Leveraging the transformative power of Account Abstraction, StableWallet stands at the forefront of security innovation, offering unmatched protection through advanced programmable recovery mechanisms and robust multi-signature controls. Seamlessly blending security with convenience, StableWallet ensures a user-centric experience by automating gas fees, simplifying transactions, and providing limitless customization possibilities through deep integration of programmable smart contracts.

Beyond its pioneering security measures, StableWallet serves as a pivotal link between the Ethereum and Polygon ecosystems, facilitating effortless asset management across diverse chains through a unified cross-chain interface. At its debut, StableWallet boasts essential features such as native support for Ethereum and Polygon networks, flexibility in fee token options with WUSD and USDT, and the capacity for multi-chain crypto smart contract wallet functionalities.

“We are thrilled to partner with WSPN and jointly unveil StableWallet’s powerful capabilities,” said Eric, CTO of MathWallet. “By combining cutting-edge account abstraction technology with robust security features and cross-chain compatibility, StableWallet empowers users to explore the decentralized realm with unparalleled confidence.”

Looking ahead, StableWallet has an ambitious roadmap to roll out new capabilities that will further elevate the user experience. Upcoming features include daily free transfers, batch transactions with one-click execution, enterprise multi-signature smart wallets, and integration with collaboration platforms, etc. These additions, among others, will continuously expand StableWallet’s functionality to meet evolving user needs in the Web3 space.

Whether for a seasoned cryptocurrency enthusiast or a beginner to the blockchain world, StableWallet offers a powerful tool to revolutionize user experience of digital asset management. Stay tuned for upcoming feature releases and network expansions as WSPN and MathWallet continue to push the boundaries of Web3 technology.

About WSPN

WSPN is a global digital payments company that provides transparent, fast, and efficient digital payment solutions leveraging the latest technological advancements of Distributed Ledger Technology (“DLT”). We are dedicated to shaping seamless digital payment solutions for our global partners worldwide at the frontier of future digital payments and financial inclusion.

Worldwide USD (‘WUSD’), WSPN’s flagship USD stablecoin, is a fiat-collateralized stablecoin that is pegged to the U.S. Dollar at a 1:1 ratio. Dedicated to optimizing payment solutions for web3 users, WUSD empowers the real economy through secure, transparent, and licensed digital payments, spanning stablecoins, exchanges and cards, all geared for global expansion.

Learn more: www.wspn.io  | Twitter | LinkedIn 

About MathWallet

MathWallet is the Multichain Wallet for Web3 that enables token storage of over 150 chains including BTC, ETH, Polkadot, Cosmos, Filecoin, Solana, BNBChain, etc, supports cross-chain token bridges and multi-chain dApp store. Our investors include Fenbushi Capital, Binance Labs, Fundamental Labs, Multicoin Capital, NGC Ventures, Amber Group, 6Eagle Capital.

Visit mathwallet.org for more information.

Photo – https://mma.prnewswire.com/media/2373177/WSPN.jpg 
Logo – https://mma.prnewswire.com/media/2374095/4619577/Logo_Logo.jpg

Cision View original content:https://www.prnewswire.co.uk/news-releases/wspn-and-mathwallet-jointly-launch-stablewallet-pioneering-aa-wallet-for-web3-302102350.html

Continue Reading

Fintech PR

Announcement of change in the total number of votes in AB SKF

Published

on

announcement-of-change-in-the-total-number-of-votes-in-ab-skf

GOTHENBURG, Sweden, March 28, 2024 /PRNewswire/ — Due to a conversion of shares from Series A to Series B in accordance with AB SKF’s Articles of Association, the Company confirms the following.

As per 28 March 2024, the Company’s share capital amounts to SEK 1,138,377,670 and the total number of shares amounts to 29,286,933 shares of Series A and 426,064,135 shares of Series B. The number of votes in the Company amounts to 71,893,346.5.

AB SKF does not hold any own shares.

Aktiebolaget SKF
      (publ)

Information in this press release contains information that AB SKF is obliged to make public pursuant to the Financial Instruments Trading Act. The information was submitted for publication on 28 March 2024 at 08.00 CET.

CONTACT:

For further information, please contact:
PRESS: Carl Bjernstam, Head of Media Relations
tel: 46 31-337 2517; mobile: 46 722-201 893; e-mail: [email protected] 

INVESTOR RELATIONS: Sophie Arnius, Head of Investor Relations
tel: 46 31-337 8072; mobile: 46 705-908 072; [email protected]  

This information was brought to you by Cision http://news.cision.com

https://news.cision.com/skf/r/announcement-of-change-in-the-total-number-of-votes-in-ab-skf,c3953982

The following files are available for download:

https://mb.cision.com/Main/637/3953982/2702083.pdf

20240328 Announcement of change in the total number of votes in AB SKF

 

View original content:https://www.prnewswire.co.uk/news-releases/announcement-of-change-in-the-total-number-of-votes-in-ab-skf-302102292.html

Continue Reading

Trending