Fintech Select Announces Year-End Results, Successful Dismissal of $4M Claim, and Consideration of Platform Merger
TORONTO, May 1, 2023 /CNW/ - Fintech Select Ltd. ("Fintech Select" or the "Company") (TSXV: FTEC) is pleased to announce that its 2022 year-end results have revealed a net profit of $1.19 million and a net 1.5 cents of earnings per share. The company's financial success is due to the hard work and dedication of its employees and management team.
In addition to this positive financial news, the company is thrilled to announce that its $4m claim, filed by its financial service provider in 2017, was dismissed at no cost. This outcome is a result of the company's tireless efforts to defend its interests and protect its reputation and shareholders.
Management is now considering the possibility of merging the functionalities of the e-wallet and POS cryptocurrency platforms into one platform. These two platforms share a number of similarities, and a merger would streamline operations and improve efficiency. The IT development team is increasingly confident about the newly developed platform, and the possibility of heading in this direction is exciting for the company's future.
Furthermore, the company is delighted to report that its revenue from the call center business has been growing, and it expects to keep doing so in the year of 2023. This growth is a testament to the company's commitment to providing exceptional service to its clients.
"We are thrilled with our year-end results and the successful dismissal of the $4m claim. We are also excited about the possibility of merging our e-wallet and POS cryptocurrency platforms, which would improve our operations and benefit our clients," said Mohammad Abuleil, Fintech Select's CEO. "Our growth in the call center business is also a great accomplishment, and we look forward to continuing to provide exceptional service to our clients."
Fintech Select looks forward to continuing its success in the future and remains committed to providing the highest level of service to its clients.
Fintech Select is a provider of robust and disruptive Pre-Paid Card programs and e-wallet payment solutions. Fintech Select has enabled these core assets which operate through separate divisions to work together harmoniously to create a new and ubiquitous environment for consumers and businesses alike. Fintech select also operates an international call centre that provides fulfillment and customer service support to customers across all the company's platforms. Our mission is to provide customers with choice, convenience and cost-effective ways to facilitate traditional and crypto financial transactions.
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Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release contains "forward-looking information" within the meaning of applicable securities laws. Readers are cautioned to not place undue reliance on forward-looking information. Actual results and developments may differ materially from those contemplated by these statements including the Company's ability to be successful in actually cleansing its balance sheet. The statements in this press release are made as of the date of this release. Fintech undertakes no obligation to comment on analyses, expectations or statements made by third-parties in respect of its securities, financial or operating results (as applicable) or prospects as to the effective implementation of strategies or initiatives or future revenue levels. Fintech disclaims any intent or obligation to update publicly any forward-looking information, whether as a result of new information, future events or results or otherwise, other than as required by applicable securities laws.
SOURCE Fintech Select Ltd.
Mohammad Abuleil, President & CEO, Investor Relations @ - [email protected], 519-351-8647
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