Netcoins Provides Corporate Update; Q4 Transactional Revenues Hit CAD $27 Million
14 1월 2019 - 5:30PM
Netcoins Holdings Inc.
(“
Netcoins” or the "
Company")
(
CSE: NETC;
OTC: GARLF; WKN: 1WJ)
is pleased to provide further corporate updates, including
information on its Retail, Portal, OTC and upcoming
Dealer-Brokerage lines of businesses.
2018 Fourth Quarter
Revenues
During fourth quarter of fiscal 2018, Netcoins
generated over CAD $27 million in transactional revenues through
its Retail, Portal and OTC lines of businesses. Netcoins
annual fiscal 2018 revenues hit CAD $59 million, representing a
400%+ year-over-year growth. Comparatively, the price of Bitcoin
dropped during Q4 from approximately USD $6,500 to a low of nearly
USD $3,000 per Bitcoin. Netcoins continues to demonstrate
significant transactional revenues regardless of the overall
volatility with cryptocurrency valuations.
Overall Financial Position
As at December 31, 2018, Netcoins had
approximately CAD $5.4 million in cash and cash equivalents and no
debt. Netcoins’ financial position remains strong and steady,
enabling our next phases of growth.
Retail Network
Netcoins’ retail network continues to grow, now
with more than 171,000 locations around the world for consumers to
purchase cryptocurrency. 2018 Q4 was a period of significant growth
for this retail network, and Netcoins is excited to continue
increasing revenue within these locations.
Netcoins Self-Serve Online
Portal
During December 2018, Netcoins launched a
self-serve buying portal. This online portal enables both retail
consumers and investor clients to purchase over twenty different
cryptocurrencies. Users are able to create an account and place
orders after completing an automated KYC process. We believe this
is the world’s first convenient “fiat to alt-coin” purchasing
platform. Typically, alt-coin traders are required to first
purchase either Bitcoin or Ethereum, and convert into an alt-coin
via a separate exchange. Netcoins now greatly simplifies the
process with the ability to buy direct using fiat balances using
its proprietary self-serve online portal.
OTC Services
Netcoins OTC (Over-The-Counter) business
continues to grow through the addition of more crypto miners and
blockchain corporate clients. OTC volume grew 25%
quarter-over-quarter from Q3 to Q4 2018. Netcoins OTC business
provides three distinct market advantages:
- Market Leading Service
Fees
- Speed of Payment (often same
day)
- Personalized Account Rep and an
always-on OTC platform for transactions.
More info Netcoins OTC business here:
https://www.gonetcoins.com/otc/
Dealer-Brokerage Services
Netcoins continues discussion with multiple
leading Dealer-Brokerages in Canada to enable Canadian investors to
buy and sell crypto from their cash trading accounts using their
traditional brokers. Netcoins also continues to work with IIROC,
the BCSC (as point for all Canadian Securities Associations) and
the CIPF to bring a regulated and safe product to market, allowing
investors to buy crypto through their traditional investment
accounts. Netcoins also secured BitGo as a custody partner, in part
to enable this line of business.
What to Expect for 2019
In 2019, Netcoins intends to:
- Aggressively expand adoption of our new Self-Serve Online
Portal, including adding sell-side and crypto funding
features;
- Launch a traditional brokerage execution business with a lead
IIROC partner and then expand to other IIROC dealers; and
- Seek strategic acquisitions of crypto assets or related
companies to compliment and grow existing business lines, while
taking advantage of our strong financial position in a depressed
crypto market.
“Despite a very difficult Q4 in crypto values,
Netcoins continues to thrive. Our top line revenue continues to
grow, and we welcomed our new online purchasing portal to the
product family. We have taken tremendous steps in 2018, from a
modest start of CAD $2 million monthly during Q1 to as high as CAD
$10 million monthly revenues during 2018, building a solid
foundation for 2019 and beyond,” said Netcoins CEO, Mark Binns.
“Our revenue curve from Q1 to Q4 2018 demonstrates our value
proposition, even in a bear market. 2019 holds tremendous
opportunity for Netcoins on multiple fronts, including organic
growth and potential strategic acquisitions. We look forward to
providing more updates on our progress in 2019.”
About Netcoins
The Company is in the business of developing
software to make the purchase and sale of cryptocurrency easily
accessible to the mass consumer and investor through brokerage
services. Netcoins enables crypto transactions via 171,000+ retail
locations globally, a self serve crypto purchase portal and an
Over-The-Counter (OTC) trading desk.
ON BEHALF OF THE BOARD OF DIRECTORS
“Mark Binns”
Mark BinnsCEO and Director
For Investor Relations Inquiries please contact Netcoins at
778.785.1175 or email ir@gonetcoins.com.
The CSE does not accept responsibility
for the adequacy or accuracy of this release.
Cautionary Statement Regarding
“Forward-Looking” InformationThis information release
contains certain forward-looking information. Such information
involves known and unknown risks, uncertainties and other factors
that may cause actual results, performance or achievements to be
materially different from those implied by statements herein, and
therefore these statements should not be read as guarantees of
future performance or results. All forward-looking statements are
based on the Company's current beliefs as well as assumptions made
by and information currently available to it as well as other
factors. Readers are cautioned not to place undue reliance on these
forward-looking statements, which speak only as of the date of this
press release. Due to risks and uncertainties, including the risks
and uncertainties identified by the Company in its public
securities filings, actual events may differ materially from
current expectations. The Company disclaims any intention or
obligation to update or revise any forward-looking statements,
whether as a result of new information, future events or
otherwise.
Net Servicos de Comunicacao S.A. ADS Each Representing One Preferred Share (MM) (NASDAQ:NETC)
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Net Servicos de Comunicacao S.A. ADS Each Representing One Preferred Share (MM) (NASDAQ:NETC)
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부터 6월(6) 2023 으로 6월(6) 2024