MIAMI and TORONTO, Could 4, 2021 /PRNewswire/ – XTM, Inc. (“XTM” or the “Firm”) (CSE: PAID) (FSE: 7XT), a Miami and Toronto-based Fintech firm within the neo-banking house, offering cell banking and fee options world wide publicizes the submitting of its audited Monetary Statements (“Statements“) and Administration Dialogue and Evaluation (“MD&A“) for the 12 months ending December 31, 2020. The Statements and a complete dialogue of XTM’s monetary place and outcomes of operations is offered and filed on SEDAR and could be discovered at www.sedar.com.
Chosen Highlights (to be learn along with the Firm’s Statements and MD&A):
- Income for the 12 months ending December 31, 2020 had been $975,008 in comparison with $1,051,786 throughout similar interval for the 12 months 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 means to earn revenues from its shopper base of hospitality, salons and supply companies. Regardless of the closures and enterprise restrictions the Firm on- boarded a report variety of new areas utilizing the In the present day cell prompt worker payout answer totaling 1,144 areas.
- The Firm had a internet loss for the 12 months 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 12 months ending December 31, 2019. The loss was primarily because of a rise in salaries, skilled charges related to go-public prices and advertising 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 shopper boardings, will increase in IT employees and new hires help to help the US enlargement that’s scheduled to go dwell Could 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 traders and shoppers together with Groot Hospitality from Miami, FL and Harlo Leisure from Toronto, ON. The position was at a worth of $0.15 per unit for gross proceeds of $1,195,000.
- On March 5, 2021, XTM’s frequent 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 frequent 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 excellent mortgage payable by the Firm with a principal quantity of $500,000 was transformed into 2,941,176 frequent shares at an train worth of $0.17 and following such conversion the Firm is now debt free.
- Subsequent to 12 months finish, the Firm noticed a major quantity of its excellent warrants and choices exercised in Q1 2021 offering the Firm with an unrestricted money stability 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 house serving to enterprise and staff alike expedite earnings payout and scale back or remove banking charges. We’re a world card issuer and fee specialist offering free expertise to enterprise to automate and expedite employee payouts that may remove money. XTM integrates companies to a fee 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 comprises “forward-looking info” and “forward-looking statements” throughout the that means of relevant securities legal guidelines (the “forward-looking statements”), throughout the that 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 pattern towards digital fee strategies, that the salon integration will appeal to new salon homeowners to make use of the In the present day program, and the final situations and revenues of XTM. Ahead-looking statements are statements that aren’t historic info and are typically, though not all the time, recognized by phrases comparable to “count on”, “plan”, “anticipate”, “venture”, “goal”, “potential”, “schedule”, “forecast”, “funds”, “estimate”, “intend” or “imagine” and comparable expressions or their unfavourable connotations, or that occasions or situations “will”, “would”, “might”, “might”, “ought to” or “would possibly” 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 could 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.