Mars One Ventures AG
Cashcloud AG: Update on the first half of 2015
Cashcloud AG / Key word(s): Half Year Results/Interim Report Corporate News of Cashcloud AG +++ Group results as planned at – CHF 2.0 million Basel, August 27, 2015. Cashcloud AG announced today that it has published Group results for the first half of 2015 at www.cashcloud.ag/en/investor-relations/publications.html. As planned, Group results were stated as -CHF 2.0 million. During the first half of 2015 core shareholders provided loans of EUR 850.000 to the Corporation. Since the beginning of the second half of the year they have provided the Corporation an additional EUR 450.000. The average cash burn rate posted for the first half of 2015 totaled CHF 0.3 million per month. The implementation of the announced capital measures involving binding financing commitments of EUR 4.3 million (conversion of shareholders’ loans and fresh capital) is underway. The subscription of new shares will take place at EUR 8,00 per share and EUR 9,50 respectively, and will lead to the issuance of about 518.000 new shares. Furthermore, plans call for an additional 106.500 shares stemming from employee options to be issued during the course of the second half of 2015. During the period under review (January 1, 2015 to June 30, 2015) the number of registered users rose by 85% to about 133.000, As of the end of July the number of registered users had risen further to over 150.000, which corresponds to the average monthly growth rate of 16% noted since the application was launched in 2013. Cashcloud AG anticipates that the pace of growth will further accelerate and expects to have at least 200.000 registered users by the end of 2015. Negotiations with cooperating partners to activate the application in additional countries within the Eurozone and in countries with other currencies – UK (GBP), Switzerland (CHF), Poland (PLN) and Romania (RON) – are in the advanced stage. Sven Donhuysen, founder and Chairman of the Board of Directors commented on the development of user numbers: “Our figures show that Cashcloud is already one of leading applications in the growing mobile eWallets market in Europe. We expect that our planned expansion into new countries will lead to a sharp acceleration of our growth rate.” Based on the increase in the number of registered users, Cashcloud AG plans to generate income from operations resulting from its marketing campaigns starting in the 3rd quarter of 2015. Corresponding revenues of CHF 6 thousand were recorded for the first time in July 2015. Olaf Taupitz, the Managing Director of Subsidiary Company Operations noted that: “Although these initial revenues are still at a low level, we are confident that the strong growth of registered users will enable us to build on these revenues and expand them in the coming quarters. We are working very hard to convince current and potential customers about the benefits of our innovative All-in-One-eWallet.” After Cashcloud AG took top prizes in the BankingCheck Award and FinTech Innovation Awards during the first half of 2015, the Corporation is also one of the finalists for the Emerging Payments Awards, as well as a finalist for the Mobile Innovation Awards, which will be presented in October in London. Within the framework of the planned expansion into new countries, Cashcloud AG is also engaged in a technology project focused on the comprehensive host card emulation (HCE) adaptation in the MasterCard network. “This already existing contactless payment solution for Android Smartphones using near field communication (NFC) opens new innovative opportunities to further develop the European mobile payments market,” according to Taupitz. During the second half of 2015 Cashcloud AG will place top priority on creating the prerequisites to increase the number of registered users in 2016 and increase revenues generated by its marketing campaigns. As part of these efforts the Corporation also plans to strengthen its governance and management structures. Among other measures, the Corporation plans to hold an extraordinary general shareholders meeting in the second half of 2015 to elect Peter G. Heinz and Rainer Maurice Wunderlin as members of the Board of Directors. The Corporation previously announced the nomination of the two individuals on August 26, 2015.
Contact for press: press@cashcloud.com Disclaimer 2015-08-27 Dissemination of a Corporate News, transmitted by DGAP – a service of EQS Group AG. The issuer is solely responsible for the content of this announcement. The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de |
Language: | English | |
Company: | Cashcloud AG | |
Steinenvorstadt 13 | ||
4051 Basel | ||
Switzerland | ||
Phone: | +41 61 638 2052 | |
Fax: | +41 61 638 2025 | |
Internet: | www.cashcloud.ag | |
ISIN: | CH0132106482 | |
WKN: | A14NYB | |
Listed: | Regulated Market in Frankfurt (General Standard); Regulated Unofficial Market in Stuttgart | |
End of News | DGAP News-Service |
389847 2015-08-27 |