Highlights (unaudited):
- $687 million AUD Total
Transaction Value (TTV) for the Fiscal Year ended 30th June - up
755% year on year
- Expected Revenue in the range of $42 to $45 million
AUD for the Fiscal Year ended 30th June - up over 500% year on
year
- $24 million in AUD cash and
cash equivalents
- Expected Adjusted EBITDA year-end loss of circa $1million for the full fiscal year, excluding one
off & public company listing cost
- July TTV of $59 million which
is generally in line with the overall softer trading volumes in the
sector - an increase on the prior month
- Growth of B2B customers, from 48 to 66 since Jan 2021 with the goal of 2x current numbers by
the end of the financial year
- Continued expansion of regulatory footprint. Banxa now holds
cryptocurrency compliance and regulation licences/registrations in
Canada, Australia, Netherlands, Lithuania and via a partnership in the
USA
TORONTO and MELBOURNE, Australia, Aug. 19,
2021 /CNW/ - BANXA Holdings Inc (TSX-V: BNXA)
(OTCQX: BNXAF) (FSE: AC00) ("BANXA" or "The Company") Banxa,
the world's first listed payment service provider (PSP) for the
digital asset industry is pleased to announce 30th June 2021 Fiscal Year unaudited year-end
revenues of between $42 to
$45 million, over 500% increase year
on year.
Adjusted EBITDA year-end loss of circa $1million for the full year, excluding one-off
and public company listing cost. July TTV of $59 million, up from the prior month and in line
with the overall softer trading volumes in the sector. As of
June 30th, 2021, the company had
$24 million in cash and cash
equivalents on the balance sheet. The company anticipates releasing
30th June 2021 audited accounts by
late October.
Domenic Carosa, Founder and
Chairman of BANXA said "As more people transition from the existing
fiat world (e.g. USD/EUR/CAD) to the digital asset world (e.g.
Bitcoin/Ethereum); the requirement for compliant payment
infrastructure becomes increasingly more important. Banxa addresses
this head on with the provision of both global and local payment
methods for our customers.
Furthermore, as the industry becomes increasingly regulated,
Banxa is leading the charge with its RegTech offering that provides
regulated and compliant payments to the industry. We will continue
to acquire more licences for cryptocurrency payments, exchange and
custodial services around the world therefore building a defensible
'moat' around our business model.
Banxa continues its goal of building a safe and regulatory
compliant payment infrastructure to help global users securely
convert their fiat currency into digital currency and vice
versa."
The Banxa Board is very comfortable with the current cash
position to fund the current business model. Maintaining a
long-term vision and growth strategy, the Company lodged a Base
Shelf Prospectus on August 7, 2021. A
Base Shelf Prospectus provides greater flexibility, certainty and
lowers the cost for any required capital raising in the next 2
years.
The latest Company investor deck can be found:
https://bit.ly/BNXA-Preso-17Aug21
A recent interview by Ian Hunter
from Hunter Value Capital can be viewed on YouTube:
https://bit.ly/BNXA-Hunter-interview-Aug2021
ON BEHALF OF THE
BOARD OF DIRECTORS
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Per:
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"DOMENIC
CAROSA" https://twitter.com/dcarosa
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Domenic
Carosa
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Chairman
(1-888-218-6863)
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Banxa Holdings Inc. (TSX-V:BNXA/OTCQX:BNXAF/FSE:AC00) is
a Payment Service Provider (PSP) that powers the world's largest
cryptocurrency companies. Banxa's mission is to build the bridge
that provides 7+ billion people access to a fairer and more
equitable financial system. Banxa is headquartered in Melbourne, Australia, with European
headquarters in Amsterdam, the
Netherlands.
For further information go to www.banxa.com
This news release may contain "forward-looking statements"
within the meaning of applicable Canadian securities laws.
Forward-looking statements are necessarily based upon a number of
estimates and assumptions that, while considered reasonable by
management, are inherently subject to significant business,
economic and competitive uncertainties, and contingencies.
These statements generally can be identified by the use of
forward-looking words such as "may", "should", "will", "could",
"intend", "estimate", "plan", "anticipate", "expect", "believe" or
"continue", or the negative thereof or similar variations.
Forward-looking statements involve known and unknown risks,
uncertainties and other factors that may cause future results,
performance or achievements to be materially different from the
estimated future results, performance or achievements expressed or
implied by those forward-looking statements and the forward-looking
statements are not guarantees of future performance.
BANXA's statements expressed or implied by these
forward-looking statements are subject to a number of risks,
uncertainties, and conditions, many of which are outside of BANXA's
control, and undue reliance should not be placed on such
statements. Forward-looking statements are qualified in their
entirety by the inherent risks and uncertainties of the Company's
business, including: BANXA's assumptions in making forward-looking
statements may prove to be incorrect; adverse market conditions,
including risks related to COVID-19 and risks that future results
may vary from historical results.
Except as required by securities law, BANXA does not assume
any obligation to update or revise any forward-looking statements,
whether as a result of new information, events or
otherwise.
Neither the 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.
For Further Information, see www.banxa.com
SOURCE Banxa Holding Inc