LONDON, United Kingdom, May 30, 2018 (GLOBE NEWSWIRE) -- Midpoint Holdings Limited (TSX.V:MPT) (“Midpoint” or the “Company”) is pleased to announce its unaudited results for the period ending March 31, 2018.
For three months ended March 31, 2018:
Revenue increased 59% to $157,237 as compared to the three months ended March 31, 2017 to $98,777 with the following business highlights:
- Transaction Volume increased over 80% Quarter on Quarter to $79 million
- Record KPIs including highest monthly (January) and Quarterly volume and revenue
- Average transaction size of $65,000
- Won “Excellence in Online Foreign Exchange Award” by Corporate Insider.
- Basic and Diluted Loss per share of $0.0015
As of this writing, over $395 million has been matched on the Midpoint platform since inception in 2013 and over $130 million was matched in the last 6 months.
The full text of Midpoint’s audited financial statements for the quarter ended March 31, 2018 and the related management's discussion and analysis are available electronically on Midpoint’s profile on the System for Electronic Document Analysis and Retrieval ("SEDAR") at www.sedar.com.
About Midpoint
Headquartered in London, Midpoint is an FCA authorized payments institution specializing in cross-border payments and foreign exchange. SMEs, overseas professionals, property owners, foreign students, individuals and anyone involved in international payments, use Midpoint’s US patent protected platform for transparent, multi-party, multi-currency services.
Midpoint is currently handling transactions in 23 currencies with the ability to collect and transfer across 72 countries. This highly secure platform provides customers with the most cost-effective FX at the midpoint of the interbank buy/sell rate therefore removing the spread as well as hidden costs and fees.
Midpoint Holdings Limited is listed on the TSX Venture Exchange and cross-listed on the Frankfurt Stock Exchange.
For further information, please contact:
| Corbin Comishin, CFO Midpoint Holdings Ltd. Tel: (250) 352-7667 | David Wong, President and CEO 26 Finsbury Square, EC2A 1DS, London, United Kingdom Tel: +44 20 7448 3081 |
Neither the TSX Venture Exchange (the “TSXV”) nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release and has neither approved nor disapproved of the contents of this news release.
Forward-looking information
This news release contains certain “forward-looking information” within the meaning of applicable securities law. Forward looking information is frequently characterized by words such as “plan”, “expect”, “project”, “intend”, “believe”, “anticipate”, “estimate”, “may”, “will”, “would”, “potential”, “proposed” and other similar words, or statements that certain events or conditions “may” or “will” occur. These statements are only predictions. Forward-looking information is based on the opinions and estimates of management at the date the information is provided, and is subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking information. For a description of the risks and uncertainties facing Midpoint and its business and affairs, readers should refer to Midpoint’s Management’s Discussion and Analysis. Midpoint undertakes no obligation to update forward-looking information if circumstances or management’s estimates or opinions should change, unless required by law. The reader is cautioned not to place undue reliance on forward-looking information.
Not for distribution to U.S. Newswire Services or for dissemination in the United States. Any failure to comply with this restriction may constitute a violation of U.S. Securities laws.
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