MIAMI and TORONTO, Might 4, 2021 /CNW/ – XTM, Inc. (“XTM” or the “Firm”) (CSE: PAID) (FSE: 7XT), a Miami and Toronto-based Fintech firm within the neo-banking area, offering cell banking and cost options around the globe declares the submitting of its audited Monetary Statements (“Statements“) and Administration Dialogue and Evaluation (“MD&A“) for the yr ending December 31, 2020. The Statements and a complete dialogue of XTM’s monetary place and outcomes of operations is supplied and filed on SEDAR and may be discovered at www.sedar.com.
Chosen Highlights (to be learn along with the Firm’s Statements and MD&A):
- Income for the yr ending December 31, 2020 have been $975,008 in comparison with $1,051,786 throughout identical interval for the yr ending December 31, 2019 a lower of $76,778 or 7.3%. The consequences of COVID-19 and necessary enterprise closures and restrictions had a major affect on the Firm’s skill to earn revenues from its consumer base of hospitality, salons and supply companies. Regardless of the closures and enterprise restrictions the Firm on- boarded a document variety of new places utilizing the At this time cell on the spot worker payout answer totaling 1,144 places.
- The Firm had a web loss for the yr ending December 31, 2020 of $3,597,417 or a loss per share of $0.04 in comparison with a lack of $2,010,177 or a loss per share of $0.02 for the yr ending December 31, 2019. The loss was primarily on account of a rise in salaries, skilled charges related to go-public prices and advertising and marketing prices totaling $664,854 in comparison with $55,758 throughout the identical interval in 2019. Salaries elevated $245,521 or 28.6% a results of new hires to help new consumer boardings, will increase in IT workers and new hires help to help the US growth that’s scheduled to go dwell Might 7, 2021.
Chosen Subsequent Occasion Highlights (to be learn along with the Firm’s Statements and MD&A):
- On February 26, 2021, the Firm closed non-brokered placement providing with strategic buyers and purchasers together with Groot Hospitality from Miami, FL and Harlo Leisure from Toronto, ON. The location was at a value of $0.15 per unit for gross proceeds of $1,195,000.
- On March 5, 2021, XTM’s widespread shares began buying and selling on the OTCQB Enterprise Market, a US buying and selling platform that’s operated by OTC Markets Group in New York. The Firm’s widespread shares commerce on the OTCQB beneath the image ‘XTMIF”. The OTCQB itemizing helps broader investor curiosity because the enterprise quickly expands into the US market.
- On March 20, 2021, an impressive mortgage payable by the Firm with a principal quantity of $500,000 was transformed into 2,941,176 widespread shares at an train value of $0.17 and following such conversion the Firm is now debt free.
- Subsequent to yr finish, the Firm noticed a major quantity of its excellent warrants and choices exercised in Q1 2021 offering the Firm with an unrestricted money steadiness of $2,228,900 as at March 31, 2021.
About XTM Inc.
XTM, www.xtminc.com is a Toronto-based fintech innovator within the challenger banking area serving to enterprise and employees alike expedite earnings payout and cut back or eradicate banking charges. We’re a worldwide card issuer and cost specialist offering free know-how to enterprise to automate and expedite employee payouts that may eradicate money. XTM integrates companies to a cost ecosystem that’s coupled with a free cell app and Mastercard debit card with free banking options. XTM drives enterprise worth and creates a constructive consumer expertise.
This information launch accommodates “forward-looking data” and “forward-looking statements” throughout the which means of relevant securities legal guidelines (the “forward-looking statements”), throughout the which means of relevant Canadian securities laws, together with anticipated efficiency of XTM, ,the expectation that companies with which XTM does enterprise or have dedicated to do enterprise will within the anticipated timeline, the persevering with development towards digital cost strategies, that the salon integration will appeal to new salon homeowners to make use of the At this time program, and the final circumstances and revenues of XTM. Ahead-looking statements are statements that aren’t historic details and are typically, though not all the time, recognized by phrases akin to “anticipate”, “plan”, “anticipate”, “undertaking”, “goal”, “potential”, “schedule”, “forecast”, “finances”, “estimate”, “intend” or “consider” and related expressions or their detrimental connotations, or that occasions or circumstances “will”, “would”, “could”, “might”, “ought to” or “may” happen. All such forward-looking statements are primarily based on the opinions and estimates of administration as of the date such statements are made. These forward-looking statements are made as of the date of this information launch. Readers are cautioned to not place undue reliance on forward-looking statements, as there may be no assurance that the longer term circumstances, outcomes or outcomes anticipated in or implied by such forward-looking statements will happen or that plans, intentions or expectations upon which the forward-looking statements are primarily based will happen.
SOURCE XTM Inc.
For additional data: please go to xtminc.com or contact: [email protected], 416-260-1641