Fintech PR
XTM Releases Q1 2020 Financials and Provides Corporate Update
XTM, Inc. (“XTM” or the “Company”) (CSE: PAID) (FSE: 7XT), a Toronto-based Fintech company in the challenger banking space, providing mobile banking and payment solutions around the world announces the filing of its Q1 2020 Financial Statements (“Statements“) and Management Discussion and Analysis (“MD&A“) for the period ending March 31, 2020. A comprehensive discussion of XTM financial position and results of operations is provided in the MD&A for the quarter ending March 31, 2020 filed on SEDAR and can be found at www.sedar.com.
Highlights (to be read together with the Company’s MD&A)
- Revenue of $217,458 for the quarter compared to revenue of $241,968 for the same period in 2019. The Company began 2020 with revenues trending higher however with COVID-19 the Company started to see declines in February and significant declines in March that led to a full government mandated shutdown of all businesses in March 15, 2020.
- The Company had a net loss Q1 2020 of $588,102 or a loss per share of $0.01 compared to a loss of $413,175 or a loss per share of $0.01 in Q1 2019. The increase loss was mainly due to the increased costs associated with the Company’s go public transaction and listing on the CSE on March 10, 2020.
“Despite typical seasonality resulting in reduced revenues in January in hospitality and in salons post the holiday season, coupled with revenue reductions in late February and complete business shutdowns as of March 15, 2020 due to COVID-19, XTM only experienced an 11% decrease in revenue as compared to Q1 2019″ commented Marilyn Schaffer CEO. “We quickly added delivery as a Today Card vertical in Q2 2020 and now with businesses beginning the next phase of reopening we are confident we will see a very strong finish to 2020.”
Corporate Update
With COVID 19 re-openings and record Today™ Program boarding of salons, restaurants and delivery companies, XTM is seeing a surge in the Gross Dollar Value loads (GDV) loaded to the Today Cards and mobile wallets by the employers for employee earnings.
Since XTM earns transaction fees from the usage of the card including out of network ATM usage, card to bank transaction fees, foreign exchange etc., GDV is a metric used by XTM and other companies like XTM as a key performance indicator (KPI). It is too early for XTM to provide guidance on revenues as percentage of GDV and spend usage expectations however other companies like XTM providing corporate loads and payroll are experiencing revenues between 1.28%-2.14% of the GDV as a gross revenue number.
Since Q4 2019 XTM has executed and launched two new verticals including Delivery, Salon and Personal Care. As well the Company has added new partnerships and is working on several new API integrations allowing for seamless, fully automated daily payments and new products for launch before the end of Q3 2020.
Key Metrics for the First 6 Months 2020
Delivery
As per the news releases issued on April 22, 2020 regarding Dominos Pizza and on May 19, 2020 regarding Toppers Pizza the Company has also signed and boarded Pizza Pizza, Pizza Hut, Boston Pizza and many other food delivery locations.
As at June 30 the Company has:
- Boarded over 350 locations with an estimated pipeline of 750 locations to be on-boarded in the coming months.
- Current annual run rate GDV greater than $35M with an estimated annual GDV in excess of $100M by end of Q4 2020.
Salon and Personal Care
As per the news release dated July 3, 2020 regarding the signing of hundreds of franchised personal services salons.
As at June 30 the Company has;
- Signed and boarded more than 250 salon franchise owned locations including brands First Choice Haircutters®, Magic Cuts®, Supercuts®, Roosters® and SmartStyle®, all part of the Regis Corporation family of brands.
- Approaching 4,000 active salon users.
- Pipeline in excess of 200 additional locations in Canada and thousands more in the US.
- Estimated annual run rate GDV of $65M at the end of Q4 2020.
Hospitality
XTM continues to board restaurants of all sizes across the country in record numbers. With the employee per location numbers in the hospitality sector being five (5) to seven (7) times higher than that of a salon or delivery location combined with higher annual sales, the Today card GDV is higher per location in the hospitality sector.
As at June 30 the Company has;
- Boarded a total of 376 restaurants with a pipeline in excess 2,200 plus locations either in boarding que, pending re-opening schedule due to COVID-19 or in final contract review.
- A 652% increase in GDV since end of Q4 2019.
- Estimated annual run rate GDV of $345M at the end of Q4 2020
New Business
Cashless Closed Loop Payment Network
XTM is working on finalizing development of a closed loop payment network and end-to-end solution for community services spending including licensed cannabis dispensaries both online delivery and bricks and mortar. Leveraging many of the systems and processes XTM has already built with the cashless Today Program, XTM expects to have a beta of the product ready for market by the end of Q3 2020. The Company is currently in discussions with a few large US based cannabis dispensaries who are interested in participating in the beta launch.
Credit Card Program
XTM has completed the process of bank approval and has a dedicated Visa Credit BIN and is finalizing the processor integration. This first of its kind all mobile app based micro credit offering will use artificial intelligence (AI) including digital banking to adjudicate and approve credit without the need for a credit check or credit score. With bankruptcies expecting to reach all-time highs in 2021 this product will report good credit to the bureaus and will be a low-cost solution for those looking to establish or re-establish credit. With much of the technology already built and in production with the Today program, it is being leveraged to launch the credit program. XTM is in discussions with multiple parties to license the entire solution and expects to have a significant announcement in the coming weeks.
U.S. Today Card Launch
The Company continues to make great progress with the U.S. issuing bank and networks to launch the Today card program in the U.S. We had anticipated completing the process and launching the end of July 2020 but due to delays out of our control we are now looking at an August 2020 launch.
Stadium and Large Venues
Further to the press release dated June 9, 2020 regarding cash to card kiosks to eliminate cash, XTM is in numerous discussions with large stadiums and sporting event arenas looking to eliminate cash. The XTM kiosk solution coupled with Today card program facilitates a complete end to end turnkey cashless solution and the Company anticipates to have news shortly regarding several large sporting event arenas adopting the solution upon reopening before end of year.
Other items
XTM is in a unique position as it has a rapidly expanding network of integrations and direct to employer technology using Today mobile app whereby we are delivering instant access to earnings and have full visibility to earnings data. The Company is in early stage discussions with several large payroll companies where XTM would integrate and fully automate the payroll process and give employers access to a very low cost payroll processing platform fully integrated with the Today platform and allow instant access to earnings to all employees. The Company expects to have a deal finalized before the end of Q3 and have a beta solution available Q4 2020.
The Company is working on API integrations with a few large Point of Sale (POS) platform providers. This would allow any users of the POS platform instant access to the Today Card program and give XTM access to tens of thousands of restaurants.
STOCKHOLM, April 5, 2024 /PRNewswire/ — EQT AB’s Q1 Announcement 2024 will be published on Thursday 18 April 2024 at approximately 07:30 CEST. EQT will host a conference call at 08:30 CEST to present the report, followed by a Q&A session.
The presentation and a video link for the webcast will be available here from the time of the publication of the Q1 Announcement.
To participate by phone and ask questions during the Q&A, please register here in advance. Upon registration, you will receive your personal dial-in details.
The webcast can be followed live here and a recording will be available afterwards.
Information on EQT AB’s financial reporting
The EQT AB Group has a long-term business model founded on a promise to its fund investors to invest capital, drive value creation and create consistent attractive returns over a 5 to 10-year horizon. The Group’s financial model is primarily affected by the size of its fee-generating assets under management, the performance of the EQT funds and its ability to recruit and retain top talent.
The Group operates in a market driven by long-term trends and thus believes quarterly financial statements are less relevant for investors. However, in order to provide the market with relevant and suitable information about the Group’s development, EQT publishes quarterly announcements with key operating numbers that are relevant for the business performance (taking Nasdaq’s guidance note for preparing interim management statements into consideration). In addition, a half-year report and a year-end report including financial statements and further information relevant for investors is published. Finally, EQT also publishes an annual report including sustainability reporting.
Contact
Olof Svensson, Head of Shareholder Relations, +46 72 989 09 15
EQT Shareholder Relations, [email protected]
Rickard Buch, Head of Corporate Communications, +46 72 989 09 11
EQT Press Office, [email protected], +46 8 506 55 334
This information was brought to you by Cision http://news.cision.com
https://news.cision.com/eqt/r/invitation-to-presentation-of-eqt-ab-s-q1-announcement-2024,c3956826
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Invitation to presentation of EQT AB’s Q1 Announcement 2024 |
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- Kia drives forward transformation into ‘Sustainable Mobility Solutions Provider’
- Roadmap enables Kia to proactively respond to uncertainties in mobility industry landscape, including changes in EV market
- Company to expand EV line-up with more models; enhance HEV line-up to manage fluctuation in EV demand
- Goal to sell 1.6 million EVs annually in 2030, introducing 15 models
- PBV to play a key role in Kia’s growth, targeting 250,000 PBV sales annually by 2030 with PV5 and PV7 models
- Kia to invest KRW 38 trillion by 2028, including KRW 15 trillion for future business
- 2024 business guidance : KRW 101 tln in revenue with KRW 12 tln in operating profit; operating profit margin of 11.9% on sales of 3.2 million units globally
- CEO reaffirms Kia’s commitment to ESG management
SEOUL, South Korea, April 5, 2024 /PRNewswire/ — Kia Corporation (Kia) today shared an update on its future strategies and financial targets at its CEO Investor Day in Seoul, Korea.
Based on its innovative achievements in the years since the announcement of mid-to-long-term business initiatives, Kia is focusing on updating its 2030 strategy announced last year and further strengthening its business strategy in response to uncertainties across the global mobility industry landscape.
During the event, Kia updated its mid-to-long-term business strategy with a focus on electrification, and its PBV business. Kia reiterated its 2030 annual sales target of 4.3 million units, including 1.6 million units of electric vehicles (EVs). The 2030 4.3 million annual sales target is 34.4 percent higher than the brand’s 2024 annual goal of 3.2 million units.
The company also plans to become a leading EV brand by selling a higher percentage of electrified models among its total sales, including hybrid electric vehicles (HEV), plug-in hybrid (PHEV), and battery EVs, projecting electrified model sales of 2.48 million units annually or 58 percent of Kia’s total sales in 2030.
“Following our successful brand relaunch in 2021, Kia is enhancing its global business strategy to further the establishment of an innovative EV line-up and accelerate the company’s transition to a sustainable mobility solutions provider,” said Ho Sung Song, President and CEO of Kia. “By responding effectively to changes in the mobility market and efficiently implementing mid-to-long-term strategies, Kia is strengthening its brand commitment to the wellbeing of customers, communities, the global society, and the environment.”
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VANCOUVER, BC, April 4, 2024 /PRNewswire/ — BioVaxys Technology Corp. (CSE: BIOV) (FRA: 5LB) (OTCQB: BVAXF) (the “Company“) is providing this bi-weekly update on the status of the management cease trade order granted on February 29, 2024 (the “MCTO“), by its principal regulator, the Ontario Securities Commission (the “OSC“), under National Policy 12-203 – Management Cease Trade Orders (“NP 12-203“), following the Company’s announcement on February 21, 2024 (the “Default Announcement“), that it was unable to file its audited annual financial statements for the year ended October 31, 2023, its management’s discussion and analysis of financial statements for the year ended October 31, 2023, its annual information form for the year ended October 31, 2023, and related filings (collectively, the “Required Annual Filings“). Under National Instrument 51-102, the Required Annual Filings were required to be made no later than February 28, 2024.
As a result of the delay in filing the Required Annual Filings, the Company was unable to file its interim financial statements for the three months ended January 31, 2024, its management’s discussion and analysis of financial statements for the three months ended January 31, 2024, and related filings (collectively, the “Required Interim Filings“). Under National Instrument 51-102, the Required Interim Filings were required to be made no later than April 1, 2024.
The Company anticipates filing the Required Annual Filings by April 30, 2024. The auditor of the Company requires additional time to complete its audit of the Company, including the Company’s recent acquisition of all intellectual property, immunotherapeutics platform technologies, and clinical stage assets of the former IMV Inc. that closed on February 16, 2024. In addition, the Company anticipates filing the Required Interim Filings immediately after the filing of the Required Annual Filings.
Except as herein disclosed, there are no material changes to the information contained in the Default Announcement. In addition, (i) the Company is satisfying and confirms that it intends to continue to satisfy the provisions of the alternative information guidelines under NP 12-203 and issue bi-weekly default status reports for so long as the delay in filing the Required Annual Filings and/or Required Interim Filings is continuing, each of which will be issued in the form of a press release; (ii) the Company does not have any information at this time regarding any anticipated specified default subsequent to the default in filing the Required Annual Filings and Required Interim Filings; (iii) the Company is not subject to any insolvency proceedings; and (iv) there is no material information concerning the affairs of the Company that has not been generally disclosed.
About BioVaxys Technology Corp.
BioVaxys Technology Corp. (www.biovaxys.com), a biopharmaceuticals company registered in British Columbia, Canada, is a clinical-stage biopharmaceutical company dedicated to improving patient lives with novel immunotherapies based on the DPX™ immune-educating technology platform and it’s HapTenix© ‘neoantigen’ tumor cell construct platform, for treating cancers, infectious disease, antigen desensitization, and other immunological fields. The Company’s clinical stage pipeline includes maveropepimut-S which is in Phase II clinical development for advanced Relapsed-Refractory Diffuse Large B Cell Lymphoma (DLBCL) and platinum resistant ovarian cancer, and BVX-0918, a personalized immunotherapeutic vaccine using it proprietary HapTenix© ‘neoantigen’ tumor cell construct platform which is soon to enter Phase I in Spain for treating refractive late-stage ovarian cancer. The Company is also capitalizing on its tumor immunology know-how and creation of a unique library of T-lymphocytes & other datasets post-vaccination with its personalized immunotherapeutic vaccines to utilize predictive algorithms and other technologies to identify new targetable tumor antigens. BioVaxys common shares are listed on the CSE under the stock symbol “BIOV” and trade on the Frankfurt Bourse (FRA: 5LB) and in the US (OTCQB: BVAXF). For more information, visit www.biovaxys.com and connect with us on X and LinkedIn.
ON BEHALF OF THE BOARD
Signed “James Passin“
James Passin, Chief Executive Officer
Phone: +1 646 452 7054
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