- Twelve-month pro forma revenues for all three entities were
$6.5 million for the fiscal year endingAugust 31, 2022 - Total revenue was
$3,710,370 for the fiscal year endingAugust 31, 2022 - Net loss was
$7,591,250 inclusive of a$4 million non-cash goodwill impairment charge associated with the Helix and Alchemy Technologies acquisitions
The company leveraged its fiscal 2020 financial growth to improve long-term stability by making two strategic acquisitions, Helix, a marketing services company, and Alchemy Technologies, a lending software company. The Company’s focus was to create products and services that drive net new revenue that is monthly recurring and produces long-term profits. This focus to establish a more predictable monthly recurring model resulted in a short-term revenue decline year-over-year. The company remains confident that its investments in operations and personnel have resulted in streamlined operations, reduced expenses, and a more efficient team moving forward. The integration work is complete, and the combined organization has developed its new flagship product, PayPlan.
PayPlan, a next-generation lending platform, combines over 50 solutions the company has built for other organizations, with features the market has been demanding. The product can be up and running for a new client in 30 days, at a fraction of the cost compared to the competition, and is being implemented for new clients.
As the company enters a phase of promotion and sales, it secured a Revolving Line of Credit of up to
“Despite a challenging environment and some major curve balls thrown our way over the past twelve months, we have a powerful team, an amazing new product, more efficient processes, and the capital available to promote the company to generate new monthly recurring revenue growth,” said CEO of
In conclusion,
About
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