PLEASANT HILL, CA, Nov. 19, 2018 (GLOBE NEWSWIRE) -- Textmunication Holdings, Inc. (OTC PINK: TXHD), a cloud-based mobile SMS marketing platform provider, is providing shareholders with a financial update and highlight of the Company's key accomplishments for the nine months ended September 30, 2018.
Company CEO, Wais Asefi, commented, “We are pleased with the milestones achieved this year as we continue to execute our growth strategy. To that end, a significant amount of our focus in Q3 was allocated to migrating all our clients from the Company’s legacy platform to our next-generation software. We believe this transitional quarter will catalyze significant long-term growth specifically within the mobile marketing sector where we provide white label and integrated solutions to seven of the premier Club Management Software (CMS) providers in the country, and expect to add two more in Q4.” Mr. Asefi concluded, “We remain committed to scaling and evolving our technology offerings in support of our commitment to building long-term shareholder value.”
CORPORATE HIGHLIGHTS
- Growth: White Label Agreements were completed with I-Texts Inc. and EZ Facility. I-Texts Inc.provides mobile advertising with access to over 40,000 nonprofits, foundations, corporations, education and healthcare institutions. EZFacility is a leading sports and fitness club management software (CMS) provider, delivering instant member notifications for EZFacility’s health clubs, personal training studios, sports facilities and recreation centers. The Company now has seven out of the top eight Club Management Software providers.
- Technology: Key technology advancements were announced including the Company has initiated the process of architecting its Artificial Intelligence (AI) layer for the Smart Automated Messaging (SAM) platform. In addition to AI, the Company announced it is integrating Rich Communication Services, or RCS, into the SAM platform creating a trifecta of technology – SMS, RCS and AI in one platform. The AI integration should be completed in early 2019 along with RCS.
- Capital: To assist with strategic investment opportunities and investment execution the Company announced the addition of Thomas DiBenedetto and Joseph Griffin as investors and strategic advisors. Mr. DiBenedetto has over 40 years’ experience as an investment banker with Morgan Stanley & Co., Salomon Brothers, Inc. and Allen & Company. He is the founder and principal of two investment firms, Boston International Group and its affiliate, Junction Investors, Ltd. Mr. Griffin is a retired Wall Street executive with principal roles at Century Capital Associates and Renaissance Technologies, both premier investment advisory firms with billions under management.
FINANCIAL HIGHLIGHTS
- Revenues increased for the three months ended September 30, 2018 to $218,251, as compared with revenues of $184,835 for the three months ended September 30, 2017. For the nine months ended September 30, 2018, the Company reported revenues of $709,375, as compared with revenues of $721,383 for the nine months ended September 30, 2017. The slight decrease in revenues for the nine months ended September 30, 2018 over the prior year period was due to focusing on launching a new platform that we are hopeful will increase revenues in future quarters. The Company expects to achieve greater revenues for the rest of 2018 over 2017.
- Gross profit increased to $101,010 for the three months ended September 30, 2018 or approximately 46% of revenues, as compared with $97,807 for the same period ended September 30, 2017, or approximately 53% of revenues. Gross profit was $477,230 for the nine months ended September 30, 2018 or approximately 67% of revenues, as compared with $476,889 for the same period ended September 30, 2017, or approximately 66% of revenues.
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About Textmunication Holdings, Inc.
Based in Silicon Valley, Textmunication Inc. is a leading mobile marketing solutions provider to more than a thousand clients across North America. An early adopter of next-generation text message protocol Rich Communication Services (RCS), the Company currently leverages its proprietary SMS software platform to deliver robust APIs and integrated solutions to a diverse range of end users including health and fitness facilities, beauty salons, sporting events, hospitality organizations, entertainment and digital marketing firms. Committed to ongoing innovation, Textmunication was recognized by CIO Review Magazine as one of the “Top 20 Most Promising Digital Marketing Solution Providers” of 2018. For more information: www.textmunication.com
Safe Harbor Provision:
Except for the statements of historical fact contained herein, the information presented in this news release constitutes “forward-looking statements” made pursuant to the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. You are cautioned not to place undue reliance on any forward-looking statements in this press release as they reflect Textmunication Holdings’ current expectations with respect to future events and are subject to risks and uncertainties that may cause actual results to differ materially from those contemplated. Potential risks and uncertainties include, but are not limited to, the risks described in Textmunication Holdings’ filings with the Securities and Exchange Commission. Accordingly, readers should not place undue reliance on forward-looking statements contained in this news release and any document referred to in this press release.
Contact:
Wais Asefi, CEO
Textmunication Holdings, Inc.
(800) 677-7003
wais@textmunication.com