Rego Payment Architectures, Inc. Reports Earnings Results for the Third Quarter Ended September 30, 2020
November 16, 2020 at 09:37 pm
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Rego Payment Architectures, Inc. announced earnings results for the third quarter ended September 30, 2020. For the third quarter, the company announced operating loss was USD 1.425 million compared to USD 565,766 a year ago. Net loss was USD 1.427 million compared to USD 741,718 a year ago. Basic loss per share from continuing operations was USD 0.01 compared to USD 0.01 a year ago. For the nine months, sales was USD 0 compared to USD 34,485 a year ago. Operating loss was USD 2.314 million compared to USD 1.890 million a year ago. Net loss was USD 2.695 million compared to USD 2.376 million a year ago. Basic loss per share from continuing operations was USD 0.03 compared to USD 0.03 a year ago.
REGO Payment Architectures, Inc. is a provider of consumer software that delivers a mobile payment platform, Mazoola, which is a family focused mobile banking solution. The Company offers an all-digital financial payments platform to enable minors, particularly under 13 years old, to transact, complete chores and learn in a secure online environment guided by parental permission, oversight, and control. Its platform can be easily duplicated/commoditized, such as the app skin, Application programming interface (APIs) to retailers, APIs to financial infrastructure, and cloud storage. The Mazoola app and associated digital wallet technology is designed to enable partners to engage families with Gen Z and Gen Alpha youths through a money management, transactional and financial literacy platform that enables young people to make smart decisions. It is also analyzing specific components of technology for individual monetization as well as exploring opportunities in the B2B realm.
REGO PAYMENT ARCHITECTURES, INC. 
