Posted by AGORACOM
at 2:23 PM on Tuesday, January 26th, 2021
VoPay’s payment tech platform gives Marble‘s customers an ideal solution to easily and rapidly incorporate EFT payments
simplifies the process for providing a single API integration to banking providers
Allows Marble to improve customer retention and reduce costs
Vancouver, B.C. – January 26, 2021 – Marble Financial Inc. (CSE:MRBL ); ( OTC:MRBLF); (CNSX:MRBL.CN); (“Marble” or the “Company”) a financial technology company that empowers Canadians’ toward a positive financial future, is pleased to announce that it has partnered with VoPay International Inc. (“VoPay”) to deliver its open banking payments solution with coverage for thousands of new and existing MyMarble customers.
This partnership which enables new payment options to consumers, simplifies the process for providing a single API integration to banking providers.
VoPay’s payment technology platform now provides Marble an ideal solution to enable customers to easily and rapidly incorporate electronic funds transfer (“EFT”) payments into their financial technology solutions. With VoPay’s integrated single payment API, Marble is able to improve customer retention and reduce costs, which results in rapidly expanded and streamlined payment options for MyMarble users and for the Company to expand its top-end revenue channels.
According to Payments Canada Methods and Trends (CPMT) 2020 report, EFT payments have increased and represent 61% of the total remote payments volume. This presents a growing preferred payment method by Canadians, something Marble has not been able to offer in the past.
“We are very excited about partnering with VoPay to add a new payment option to Marble’s growing customer base and revenue streams,” said Karim Nanji, CEO Marble. “VoPay is a leader in payment processing with a world-class product when it comes to speed and efficiency. Our partnership with VoPay will position Marble to support rapid growth, and together we can further support Canadians that do not have access to credit as a payment option.”
Posted by AGORACOM
at 11:33 AM on Monday, January 25th, 2021
(MRBL: CSE) (MRBLF: OTC) (2V0: FSE)
www.mymarble.ca
Why Marble?
Revolutionary fintech company utilizing the power of AI technology to help Canadians manage debt, build credit and budget.
Provides users:
Expert budgeting insights
Consumer proposal-exiting guidance
AI-powered credit boosting intelligence
Financial literacy
Robust B2B and B2C offerings.
A trusted fintech provider for businesses to maximize their customers credit profile.
Servicing a previously underserved subprime Canadian market
Strong Insiders/Management Ownership: 35%
What Exactly Does Marble Do?
‘MyMarble’ offers very specific, personalized financial recommendations about when to pay bills, how to prioritize debt management decisions and offers, tracks and highlights personalized data insights.
‘MyMarble’ through its suite of products offers innovative structured credit product solutions:
The MyMarble Ecosystem obtains leads from a number of tier one Canadian fintech companies which are funnelled accordingly due to a detailed needs analysis.
Did You Know 12 Million Canadians Are Below A Prime Credit Rating?
According to MNP (October 2020) , almost 50% of Canadians are living paycheque to paycheque and based on statistics from Statistics Canada’s Household Sector Credit Market Summary (June 2020), for every dollar of disposable income, Canadians carry a $1.77 of debt. Additionally, Canada is a credit-based economy and financial literacy and good credit score is a major determinant to Financial Inclusion.
What Problem Does That Pose To Individuals Seeking Credit?
The Marble Model
How Marble Acquires and Converts Customers
Benefits of This World Class, AI-Powered Platform:
Expert AI Insights and Real-Time Recommendations
Comprehensive monthly reporting provides expert insights to guide the best course of action to manage budgets effectively
Data-Driven Credit Score Improvement Solution
Marble’s Score-Up AI insights suggests steps which will make the biggest positive impact on credit scores using industry-leading monitoring and point deduction technology.
In a recent Personal Finance Sentiments Survey conducted by Marble, approximately 70% of the respondents commented that they were embarrassed by their credit score, proving a willingness to improve their credit to an acceptable mainstream banking level.
In addition, a similar number of the same respondents identified having over $100 in disposable income each month, confirming Score-Up Lite’s affordability to people that could benefit from it.
Specialist Curated Financial Literacy Platform
The company’s Maestro Financial Literacy education platform has been designed and developed by personal finance experts with decades of experience within the industry.
Sustainable Consumer Proposal Exit solution
One of the only companies in Canada that specializes in exiting consumer proposals in a safe, fair and ethical way.
What Does The Company’s Financial Future Look Like?
Posted by AGORACOM-JC
at 7:52 AM on Monday, January 18th, 2021
Peak becomes a transaction aggregator partner for Rongbang and will now be able to control the flow of funds within the Lending Hub ecosystem from start to finish.
Peak’s clients will have virtual bank accounts within the Lending Hub ecosystem where they can hold cash balances and pay for products and services.
Peak will have the ability to debit and credit its clients’ real bank accounts held outside of Lending Hub, as well as offer new value-added services, such as escrow services.
Any transaction involving the movement of funds will earn Peak a service fee, potentially doubling current transaction fees, earning new fees on loan disbursements and every loan repayment transaction.
Peak will earn a 1.5% to 3.0% annual fee on the aggregate value of the funds held in its clients’ virtual bank accounts.
First transactions expected to be processed in Q2 2021.
Montreal, Quebec–(January 18, 2021) – Peak Fintech Group Inc. (CSE: PKK) (OTCQX: PKKFF) (“Peak” or the “Company”), an innovative Fintech service provider to the Chinese commercial lending sector, today announced that it has signed an agreement with China UnionPay subsidiary, Rongbang Technology Ltd. (“Rongbang”), that will give the Company the ability to process payments, settle transactions and transfer funds between lending institutions, banks and the businesses that are part of its Lending Hub ecosystem.
Posted by AGORACOM-JC
at 1:32 PM on Sunday, December 20th, 2020
Peak HUB containing multiple landing pages, videos, photos and other helpful information updated in real-time over the next 12 months is live as of December 18 and can be found at: https://agoracom.com/ir/PeakFintechGroup
Montreal, Quebec–(December 20, 2020) – Peak Fintech Group Inc. (CSE: PKK) (OTCQX: PKKFF) (“Peak” or the “Company”), an innovative Fintech service provider to the Chinese commercial lending sector, today announced the launch of its new website and of a 12-month online marketing campaign through AGORACOM for the purposes of engaging with current and future shareholders.
EXPOSURE THROUGH THE AGORACOM DIGITAL NETWORK
In 2019, AGORACOM surpassed 600 million page views, exceeded industry engagement metrics by over 400% and has served over 350 public companies.
The Peak HUB containing multiple landing pages, videos, photos and other helpful information updated in real-time over the next 12 months is live as of December 18 and can be found at: https://agoracom.com/ir/PeakFintechGroup
The Peak HUB is expected to receive significant exposure through continuous brand impression, content marketing, search engine marketing and social media engagement throughout the entire AGORACOM network. AGORACOM is the only small cap marketing firm to hold a Twitter Verified badge, averaging 4.2 million Twitter impressions per month in 2019.
MODERATED DISCUSSION FOR MANAGEMENT AND SHAREHOLDERS
Peak has also launched a “CEO Verified” Discussion Forum on AGORACOM to serve as the Company’s platform to interact with both current and prospective shareholders in a fully moderated environment.
Expected Verified Peak Officers and Investor Relations Contacts:
Johnson Joseph, President and CEO, Peak Fintech Group
Cathy Hume, CEO, CHF Capital Markets
Iryna Zheliasko, Corporate Communications Manager, CHF Capital Markets
AGORACOM Founder George Tsiolis stated: “There is no denying the advent of Fintech and how it will shape the global economy’s financial future over the next decade. Whereas some companies use Fintech as a buzzword, Peak has already developed and commercialized its proprietary Lending Hub platform with great results in China, one of the world’s biggest but most fragmented markets. We pride ourselves on discovering disruptive small cap companies and look forward to helping bring the Peak story to the world.”
About AGORACOM
AGORACOM is the pioneer of online marketing, broadcasting, conferences and investor relations services to North American small and mid-cap public companies, with more than 300 companies served. AGORACOM is the home of more than 7.7 million investors that visited 55.2 million times and read over 600 million pages of information over the last 10 years. The average visit of 8min 43sec is more than double that of global financial sites, which can be attributed to the implementation and enforcement of the strongest moderation rules in the industry.
About Peak Fintech Group Inc.:
Peak Fintech Group Inc. is the parent company of a group of innovative financial technology (Fintech) subsidiaries operating in China’s commercial lending industry. Peak’s subsidiaries use technology, analytics and artificial intelligence to create an ecosystem of lenders, borrowers and other participants in China’s commercial lending space where lending operations are conducted rapidly, safely, efficiently and with the utmost transparency. For more information: http://www.peakfintechgroup.com.
For more information, please contact:
CHF Capital Markets Cathy Hume, CEO 416-868-1079 ext.: 251 [email protected]
Peak Fintech Group Inc. Johnson Joseph, President and CEO 514-340-7775 ext.: 501 [email protected]
This news release may include certain forward-looking information, including statements relating to business and operating strategies, plans and prospects for revenue growth, using words including “anticipate”, “believe”, “could”, “expect”, “intend”, “may”, “plan”, “potential”, “project”, “seek”, “should”, “will”, “would” and similar expressions, which are intended to identify a number of these forward-looking statements. Forward-looking information reflects current views with respect to current events and is not a guarantee of future performance and is subject to risks, uncertainties and assumptions. The Company undertakes no obligation to publicly update or review any forward-looking information contained in this news release, except as may be required by applicable laws, rules and regulations. Readers are urged to consider these factors carefully in evaluating any forward-looking information.
Posted by AGORACOM-JC
at 7:38 AM on Friday, December 11th, 2020
Announced that its Gold River and Cubeler Lending Hub platforms are now ready to support China’s new Digital Currency Electronic Payment (DC/EP).
Unlike cryptocurrencies such as Bitcoin, China’s DC/EP is legal tender, it’s backed by yuan deposits, centralized and not anonymous.
It is managed by China’s Central Bank, which requires the country’s banks to convert a part of their yuan holdings into DC/EP form and distribute them to businesses and citizens via mobile technology.
The DC/EP took over five years to develop and is expected to help bring China’s unbanked population into the mainstream economy and accelerate the country’s move to a cashless society.
Montreal, Quebec–(December 11, 2020) – Peak Fintech Group Inc. (CSE: PKK) (OTCQX: PKKFF) (“Peak” or the “Company”), an innovative Fintech service provider to the Chinese commercial lending sector, today announced that its Gold River and Cubeler Lending Hub platforms are now ready to support China’s new Digital Currency Electronic Payment (DC/EP).
Unlike cryptocurrencies such as Bitcoin, China’s DC/EP is legal tender, it’s backed by yuan deposits, centralized and not anonymous. It is managed by China’s Central Bank, which requires the country’s banks to convert a part of their yuan holdings into DC/EP form and distribute them to businesses and citizens via mobile technology. The DC/EP took over five years to develop and is expected to help bring China’s unbanked population into the mainstream economy and accelerate the country’s move to a cashless society.
Peak began preparing its platforms for the DC/EP last month with the hiring of former People’s Bank of China senior manager, Mr. Wenjun Wu, as a special advisor to assist the Company in that capacity. Through Mr. Wu’s expertise in the matter and his relationship with the Postal Savings Bank of China (http://www.psbc.com/en/), one of a select few banks with the DC/EP API, Peak’s platforms are now among the first to provide clients with the ability to conduct DC/EP transactions. In addition to its inherent security features, the DC/EP offers several benefits to businesses and financial institutions alike. For instance, loans and credit transactions conducted in DC/EP will on average carry lower interest rates than similar transactions conducted in regular yuan and transactions will be settled instantly, all of which are expected to make DC/EP transactions the preferred way of conducting business in China, and a way to increase transaction volume on Peak’s platforms. The Company plans to run a pilot project beginning later this month with a few supply-chain financing related transactions before making the feature available to all Gold River and Lending Hub clients.
Peak’s DC/EP pilot project will coincide with the arrival of Xingcheng Special Steel Works Ltd. (“XSSW”) (https://xctg.citicsteel.com/) to the Cubeler Lending Hub Ecosystem. XSSW is a subsidiary of conglomerate CITIC Ltd. (https://www.citic.com/en/). It’s the 2nd largest supplier of specialized steel products in China servicing a variety of industries and manufacturers with products such as bearings, alloy steel wires, plates, rods and springs that go into the making of numerous products. Peak and XSSW were connected through the Jiangyin Financial Centre following a series of financing requests from Jiangyin manufacturers to purchase material from XSSW. By officially adding XSSW to Lending Hub’s list of approved suppliers and working in partnership with XSSW, Peak will now be able to offer its supply-chain financing services to all XSSW clients through joint marketing initiatives.
Wall Street Reporter’s NEXT SUPER STOCK Livestream – December 15, 2020
Peak will be a featured presenter at Wall Street Reporter’s NEXT SUPER STOCK livestream conference on Tuesday, December 15, 2020 at 1:00pm EST. CEO Johnson Joseph will discuss Peak’s latest news events and answer investor audience questions. Those interested can click the following link to register and join the livestream: Next Super Stock Livestream Registration.
About Peak Fintech Group Inc.:
Peak Fintech Group Inc. is the parent company of a group of innovative financial technology (Fintech) subsidiaries operating in China’s commercial lending industry. Peak’s subsidiaries use technology, analytics and artificial intelligence to create an ecosystem of lenders, borrowers and other participants in China’s commercial lending space where lending operations are conducted rapidly, safely, efficiently and with the utmost transparency. For more information: http://www.peakfintechgroup.com
For more information, please contact:
CHF Capital Markets Cathy Hume, CEO 416-868-1079 ext.: 251 [email protected]
Peak Fintech Group Inc. Johnson Joseph, President and CEO 514-340-7775 ext.: 501 [email protected]
This news release may include certain forward-looking information, including statements relating to business and operating strategies, plans and prospects for revenue growth, using words including “anticipate”, “believe”, “could”, “expect”, “intend”, “may”, “plan”, “potential”, “project”, “seek”, “should”, “will”, “would” and similar expressions, which are intended to identify a number of these forward-looking statements. Forward-looking information reflects current views with respect to current events and is not a guarantee of future performance and is subject to risks, uncertainties and assumptions. The Company undertakes no obligation to publicly update or review any forward-looking information contained in this news release, except as may be required by applicable laws, rules and regulations. Readers are urged to consider these factors carefully in evaluating any forward-looking information.
Posted by AGORACOM-JC
at 7:42 AM on Wednesday, December 9th, 2020
Announced that it has signed a memorandum of understanding (MOU) to acquire banking artificial intelligence software company Zhongke Software Intelligence Ltd.
Zhongke (http://www.inforich.com.cn/) develops analytics and AI software used by banks and financial institutions in China to make decisions on loan and credit applications, as well as to process and to manage the applications.
Operating under the approval of the People’s Bank of China (China’s central bank), State-owned UnionPay is China’s largest POS electronic funds transfer network and the only interbank network in China that links all the automatic teller machines (ATMs) of all banks throughout the country.
Montreal, Quebec–(December 9, 2020) – Peak Fintech Group Inc. (CSE: PKK) (OTCQX: PKKFF) (“Peak” or the “Company”), an innovative Fintech service provider to the Chinese commercial lending sector, today announced that it has signed a memorandum of understanding (MOU) to acquire banking artificial intelligence software company Zhongke Software Intelligence Ltd. (“Zhongke”).
Zhongke (http://www.inforich.com.cn/) develops analytics and AI software used by banks and financial institutions in China to make decisions on loan and credit applications, as well as to process and to manage the applications. Zhongke is also a strategic partner of China UnionPay (http://www.unionpayintl.com/en/). Operating under the approval of the People’s Bank of China (China’s central bank), State-owned UnionPay is China’s largest POS electronic funds transfer network and the only interbank network in China that links all the automatic teller machines (ATMs) of all banks throughout the country. According to Wikipedia, UnionPay is the largest card payment organization (debit and credit cards combined) in the world, ahead of Visa and Mastercard.
Zhongke’s IP portfolio includes 3 patents, 42 copyrights, and 3 trademarks. All software developed by the company is CMMI Level 3 compliant. CMMI is an international process level improvement training and appraisal standard established by Carnegie Mellon University. It is often required in software development contracts from governments around the world including the US and Chinese governments. Zhongke’s software is currently used by 34 banks and financial institutions.
According to the terms of the MOU, Peak and Zhongke will first sign a strategic partnership agreement to pilot a new financing program targeting the restaurant industry and Zhongke’s banking clients using new software developed by Zhongke. The pilot will run for a three-month period during which Peak will conduct its due diligence on Zhongke and the parties will finalize the terms of the proposed acquisition. Peak’s compensation package for the acquisition will be capped at CAD$20M, which will be payable to Zhongke in a combination of cash and common shares over a certain period of time with the number of common shares payable to be based on the prevailing market price of the common shares at the time they are issued.
“This proposed acquisition is very strategic for us on several levels,” commented Peak CEO Johnson Joseph. “Our study of the banking and commercial lending landscape in China shows that the majority of the small, medium and micro businesses, who stand to benefit the most from our Lending Hub services, are served not by large banks but rather by smaller local banks and lending institutions who also happen to be the financial institutions best suited for Zhongke’s product offering. Our Lending Hub platform makes it easier for banks to lend to small businesses by gathering and analyzing data coming from the businesses and a variety of external data sources, but we found that internally some banks were unable to take full advantage of the platform’s capabilities as they were struggling with some manual procedures, for instance when it came time to sharing loan repayment data with Lending Hub. With this acquisition and the eventual integration of Zhongke’s software to Lending Hub, Peak will be in a position to offer China’s thousands of small banks, whether located in large cities, small towns or rural regions, an end-to-end solution to automate their commercial lending activities, including bringing them new clients. With the integration of the platform, we also expect the AI components of both Lending Hub and Zhongke’s software to continuously improve as they share data with each other. We believe that the insight that Peak will have into these transactions, with data points coming from the banks’ internal systems coupled with data points on the operations of the small businesses that are part of the Lending Hub ecosystem, will be exceptional, if not unprecedented. The value of the combination of that data can’t be overstated,” concluded Mr. Joseph.
“When we understood Peak’s vision with the creation of the Lending Hub ecosystem and the important role that our software would play in helping bring that vision to life, the decision to join the Group was an easy one,” said Zhongke Founder and CEO, Changshu Hu. “I look forward to finalizing our agreement as quickly as possible and couldn’t be more excited about the impact that I believe we will have on the automation of commercial lending to genuinely help small businesses across the country reach their full potential.”
About Peak Fintech Group Inc.:
Peak Fintech Group Inc. is the parent company of a group of innovative financial technology (Fintech) subsidiaries operating in China’s commercial lending industry. Peak’s subsidiaries use technology, analytics and artificial intelligence to create an ecosystem of lenders, borrowers and other participants in China’s commercial lending space where lending operations are conducted rapidly, safely, efficiently and with the utmost transparency. For more information: http://www.peakfintechgroup.com
For more information, please contact:
CHF Capital Markets Cathy Hume, CEO 416-868-1079 ext.: 251 [email protected]
Peak Fintech Group Inc. Johnson Joseph, President and CEO 514-340-7775 ext.: 501 [email protected]
This news release may include certain forward-looking information, including statements relating to business and operating strategies, plans and prospects for revenue growth, using words including “anticipate”, “believe”, “could”, “expect”, “intend”, “may”, “plan”, “potential”, “project”, “seek”, “should”, “will”, “would” and similar expressions, which are intended to identify a number of these forward-looking statements. Forward-looking information reflects current views with respect to current events and is not a guarantee of future performance and is subject to risks, uncertainties and assumptions. The Company undertakes no obligation to publicly update or review any forward-looking information contained in this news release, except as may be required by applicable laws, rules and regulations. Readers are urged to consider these factors carefully in evaluating any forward-looking information.
Posted by AGORACOM-JC
at 7:42 AM on Tuesday, December 1st, 2020
Announced that it has signed an agreement with high-end Italian retailer Gruppo Coin (“Coin”) to provide short-term loans to Coin’s social-media-influencer online sales partners.
Coin (https://en.coin.it/), Italy’s largest chain of department stores, was one of the first foreign retailers to recognize and leverage the power of social media influencers to sell their products in the world’s largest retail market.
Chinese influencers are using popular social media platforms such as TikTok, Sina Weibo and WeChat to revolutionize online retail sales. They create entertaining shows broadcasted on the platforms during which they promote and sell products with which they are associated.
A show will typically cost $1,000 to $10,000 to produce, including promoting it to followers, detailing the products and the limited quantities available for the show in order to create a buzz and the FOMO (fear of missing out) factor with their followers
Montreal, Quebec–(December 1, 2020) – Peak Fintech Group Inc. (CSE: PKK) (OTCQX: PKKFF) (“Peak” or the “Company”), an innovative Fintech service provider to the Chinese commercial lending sector, today announced that it has signed an agreement with high-end Italian retailer Gruppo Coin (“Coin”) to provide short-term loans to Coin’s social-media-influencer online sales partners.
Coin (https://en.coin.it/), Italy’s largest chain of department stores, was one of the first foreign retailers to recognize and leverage the power of social media influencers to sell their products in the world’s largest retail market. Chinese influencers are using popular social media platforms such as TikTok, Sina Weibo and WeChat to revolutionize online retail sales. They create entertaining shows broadcasted on the platforms during which they promote and sell products with which they are associated.
A show will typically cost $1,000 to $10,000 to produce, including promoting it to followers, detailing the products and the limited quantities available for the show in order to create a buzz and the FOMO (fear of missing out) factor with their followers. On average, each influencer will produce about 250 shows per year. The average show typically lasts 3 to 4 hours and offers a variety of products. Top influencers are usually able to sell out their inventory of a particular product within the first 10 minutes of the product being presented. Many influencers have achieved celebrity status, and this is rapidly becoming the preferred way to sell a variety of products in China, from cosmetics to clothing to small appliances and everything in between. In addition to the cost of producing the shows, the influencers must provide their large retail partners with a deposit of 20% to 30% of the value of the products they expect to sell for each show. This is where Peak and the Cubeler Lending Hub come into the equation. With today’s announced agreement, Coin’s influencer partners will be eligible to have the cost of producing their shows, their required cash deposits and their entire product orders financed through the Lending Hub. Peak will earn its customary ~ 2% fee of the value of the loans provided for facilitating the transactions.
“We’ve been studying this space for months, identifying some of the top influencers and brand ambassadors on China’s top social media platforms,” commented Peak China CEO Liang Qiu. “We now have a network of almost 55,000 influencers, each either with their own e-Shops or affiliated with at least one e-Shop, over 120M combined followers and a proven track record of being able to effectively move products. With a network of followers more than 3 times larger than the entire Canadian population, we believe we’re well positioned to talk to virtually any retailer or brand around the world to offer an effective gateway into the Chinese retail space,” concluded Mr. Qiu.
“One of Peak’s objectives has always been to serve as a bridge that connects North American investors and businesses to China,” said Peak CEO Johnson Joseph. “We’ve been working very hard behind the scenes for quite a while now on a way to help Canadian businesses either do more business in China or gain access to the Chinese market. Although the agreement announced today is not with a Canadian company, it certainly sets the stage for us to sign similar agreements with Canadian retailers. Our network of influencers is already excited about the prospects of selling ice wine and a variety of uniquely Canadian products not typically available in China. By capitalizing on the power of social media, I think we’re once again proving our ability to innovate and think outside the box when it comes to the many ways in which we can use the Lending Hub for the benefit of small businesses and entrepreneurs.”
Wall Street Reporter’s NEXT SUPER STOCK Livestream – December 3, 2020
Peak will be a featured presenter at Wall Street Reporter’s NEXT SUPER STOCK livestream conference on Thursday, December 3, 2020 at 12:30pm EST. CEO Johnson Joseph will discuss Peak’s agreement with Gruppo Coin, what it means for the Company going forward from an international standpoint and answer investor audience questions. Those interested can click the following link to register and join the livestream: Next Super Stock Livestream Registration.
About Peak Fintech Group Inc.:
Peak Fintech Group Inc. is the parent company of a group of innovative financial technology (Fintech) subsidiaries operating in China’s commercial lending industry. Peak’s subsidiaries use technology, analytics and artificial intelligence to create an ecosystem of lenders, borrowers and other participants in China’s commercial lending space where lending operations are conducted rapidly, safely, efficiently and with the utmost transparency. For more information: http://www.peakfintechgroup.com
For more information, please contact:
CHF Capital Markets Cathy Hume, CEO 416-868-1079 ext.: 251 [email protected]
Peak Fintech Group Inc. Johnson Joseph, President and CEO 514-340-7775 ext.: 501 [email protected]
This news release may include certain forward-looking information, including statements relating to business and operating strategies, plans and prospects for revenue growth, using words including “anticipate”, “believe”, “could”, “expect”, “intend”, “may”, “plan”, “potential”, “project”, “seek”, “should”, “will”, “would” and similar expressions, which are intended to identify a number of these forward-looking statements. Forward-looking information reflects current views with respect to current events and is not a guarantee of future performance and is subject to risks, uncertainties and assumptions. The Company undertakes no obligation to publicly update or review any forward-looking information contained in this news release, except as may be required by applicable laws, rules and regulations. Readers are urged to consider these factors carefully in evaluating any forward-looking information.
Posted by AGORACOM-JC
at 4:15 PM on Thursday, November 26th, 2020
Q3 Financial Highlights:
Total revenue of $15,116,369
Adjusted EBITDA of $127,976
Total assets of $48,687,541
Montreal, Quebec–(November 26, 2020) – Peak Positioning Technologies Inc. (CSE: PKK) (OTCQX: PKKFF) (“Peak” or the “Company”), an innovative Fintech service provider to the Chinese commercial lending sector, today announced its financial results and operating highlights for the three-month and nine-month periods ended September 30, 2020, highlighted by a record $15.1M revenue for the quarter. All amounts expressed are in Canadian dollars.
Q3 Financial Highlights:
Total revenue of $15,116,369
Adjusted EBITDA of $127,976
Total assets of $48,687,541
Historical Revenue and adjusted EBITDA Summary
Q3 2020
Q2 2020
Q1 2020
Q4 2019
Q3 2019
Revenue
$15,116,369
$7,263,504
$3,949,395
$4,357,467
$4,499,953
Expenses1
$14,988,393
$7,087,391
$3,777,350
$4,032,092
$3,781,226
Adjusted EBITDA2
$127,976
$176,113
$172,045
$325,375
$718,727
1 Expenses do not include interest, taxes, depreciation (including impairment of intangible assets) loss on extinction of debt, gain on bargain purchase and amortization
2 Adjusted EBITDA equals net income (loss) before finance costs, taxes, depreciation, amortization and impairment of intangible assets, loss on extinction of debt, gain on bargain purchase and amortization
Q3 Operating Highlights:
New Jinxiaoer Service Centres in Nanjing and Taiyuan
Equipment financing program powered by Cubeler Lending Hub in Xi’An
Launch of government-backed commercial lending Financial Centre powered by Cubeler Lending Hub in Jiangyin
First supply-chain financing related services, previously outsourced, provided through Gold River 2.0 platform
Third Quarter Financial and Operating Results Summary
“As we expected, the demand for our services, particularly as it pertains to the supply-chain, reached a new level in the third quarter, but we’re still very much in the early stages of our client acquisition plan in that vertical,” commented Peak Group CEO, Johnson Joseph. “The vast majority of our supply-chain financing business is still financing purchase orders placed with a few raw material suppliers by 200 or so manufacturers. The objective is to work our way down the transactional supply-chain where we can finance purchase orders placed with thousands of manufacturers and distributors by tens of thousands of retailers, and we began to see some of those transactions in the latter part of the quarter”.
“The financing services related to transactions between material suppliers and manufacturers that took place in Q3 were bundled with logistics services. We outsourced those services because we didn’t have the software system through which the purchase orders could be placed and some of the logistics services provided. But that’s in the process of changing. We spent the better part of a year making adjustments to Gold River to be able to provide those services ourselves, which should dramatically reduce our outsourcing expenses,” concluded Mr. Joseph.
The continued geographic expansion of Peak’s services certainly played a role in the increase in the quarterly revenue, but it’s really the demand from the supply-chain vertical itself, mostly in the cities where the financing services were already being provided, that has had the biggest impact on the revenue growth.
The revenue trajectory on which the Company now finds itself, combined with the impact that the re-emergence of its Gold River platform is expected to have on future outsourcing expenses, bolstered the Company’s 2021 profit repatriation plans. Peak therefore engaged with consultants and advisors during the quarter to begin implementing the mechanisms prescribed by the Chinese government for foreign companies to repatriate profits from their Chinese subsidiaries. Other than the aforementioned outsourcing expenses, fees paid out to consultants and advisors represented the biggest expenses for the Company in Q3.
In summary, the Company generated revenue of $15,116,369 for the three-month period and $26,329,268 for the nine-month period ended September 30, 2020, compared to $4,499,953 for the three-month period and $7,351,186 for the nine-month period ended September 30, 2019.
Total expenses before taxes for the quarter amounted to $15,505,739, compared to $4,998,367 for the same period in 2019. The net (after tax) loss for Q3 was $512,874 compared to $777,316 for the same period of 2019.
Full details of the Company’s third quarter 2020 financial results can be found in the Unaudited Condensed Interim Consolidated Financial Statements and Management’s Discussion and Analysis (MD&A) for the three-month and nine-month periods ended September 30, 2020 and 2019, which are available at www.sedar.com.
About Peak Positioning Technologies Inc.:
Peak Positioning Technologies Inc. is the parent company of a group of innovative financial technology (Fintech) subsidiaries operating in China’s commercial lending industry. Peak’s subsidiaries use technology, analytics and artificial intelligence to create an ecosystem of lenders, borrowers and other participants in China’s commercial lending space where lending operations are conducted rapidly, safely, efficiently and with the utmost transparency. For more information: http://www.peakpositioning.com.
CHF Capital Markets Cathy Hume, CEO 416-868-1079 ext.: 251 [email protected]
Peak Positioning Technologies Inc. Johnson Joseph, President and CEO 514-340-7775 ext.: 501 [email protected]
This news release may include certain forward-looking information, including statements relating to business and operating strategies, plans and prospects for revenue growth, using words including “anticipate”, “believe”, “could”, “expect”, “intend”, “may”, “plan”, “potential”, “project”, “seek”, “should”, “will”, “would” and similar expressions, which are intended to identify a number of these forward-looking statements. Forward-looking information reflects current views with respect to current events and is not a guarantee of future performance and is subject to risks, uncertainties and assumptions. The Company undertakes no obligation to publicly update or review any forward-looking information contained in this news release, except as may be required by applicable laws, rules and regulations. Readers are urged to consider these factors carefully in evaluating any forward-looking information.
Posted by AGORACOM-JC
at 9:14 AM on Thursday, November 26th, 2020
Announced that its name change to Peak Fintech Group Inc. will be effective as of Tuesday December 1, 2020 and its securities will begin trading under that name as of that date.
The Company’s ticker symbol will remain “PKK” on the Canadian Securities Exchange and “PKKFF” on the OTCQX® Best Market.
Montreal, Quebec–(November 26, 2020) – Peak Positioning Technologies Inc. (CSE: PKK) (OTCQX: PKKFF) (“Peak” or the “Company”), an innovative Fintech service provider to the Chinese commercial lending sector, today announced that its name change to Peak Fintech Group Inc. will be effective as of Tuesday December 1, 2020 and its securities will begin trading under that name as of that date. The Company’s ticker symbol will remain “PKK” on the Canadian Securities Exchange and “PKKFF” on the OTCQX® Best Market.
About Peak Positioning Technologies Inc.:
Peak Positioning Technologies Inc. is the parent company of a group of innovative financial technology (Fintech) subsidiaries operating in China’s commercial lending industry. Peak’s subsidiaries use technology, analytics and artificial intelligence to create an ecosystem of lenders, borrowers and other participants in China’s commercial lending space where lending operations are conducted rapidly, safely, efficiently and with the utmost transparency. For more information: http://www.peakfintechgroup.com
For more information, please contact:
CHF Capital Markets Cathy Hume, CEO 416-868-1079 ext.: 251 [email protected]
Peak Positioning Technologies Inc. Johnson Joseph, President and CEO 514-340-7775 ext.: 501 [email protected]
This news release may include certain forward-looking information, including statements relating to business and operating strategies, plans and prospects for revenue growth, using words including “anticipate”, “believe”, “could”, “expect”, “intend”, “may”, “plan”, “potential”, “project”, “seek”, “should”, “will”, “would” and similar expressions, which are intended to identify a number of these forward-looking statements. Forward-looking information reflects current views with respect to current events and is not a guarantee of future performance and is subject to risks, uncertainties and assumptions. The Company undertakes no obligation to publicly update or review any forward-looking information contained in this news release, except as may be required by applicable laws, rules and regulations. Readers are urged to consider these factors carefully in evaluating any forward-looking information.
Posted by AGORACOM-JC
at 10:31 AM on Monday, November 23rd, 2020
Following the release of its Third (3rd) Quarter Financial Results on Thursday, November 26 at market close, the Company’s CEO Johnson Joseph and CFO Jean Landreville will host a webinar to discuss the highlights of the quarter followed by a Q&A period.
Those interested can click the following link to register to attend the webinar on Thursday, November 26 at 4:30 PM EST: https://bit.ly/395OGxl
Montreal, Quebec–(November 23, 2020) – Peak Positioning Technologies Inc. (CSE: PKK) (OTCQX: PKKFF) (“Peak” or the “Company”), an innovative Fintech service provider to the Chinese commercial lending sector, today announced that, following the release of its Third (3rd) Quarter Financial Results on Thursday, November 26 at market close, the Company’s CEO Johnson Joseph and CFO Jean Landreville will host a webinar to discuss the highlights of the quarter followed by a Q&A period.
Those interested can click the following link to register to attend the webinar on Thursday, November 26 at 4:30 PM EST: https://bit.ly/395OGxl
While there will be an opportunity to ask questions at the end of the presentation, Peak encourages its shareholders to send questions in advance to CHF Capital Markets at [email protected]. Should the Company not answer your question during the webinar, CHF will follow-up with a response after the event is over.
Peak management is looking forward to seeing you at the webinar.
About Peak Positioning Technologies Inc.:
Peak Positioning Technologies Inc. is the parent company of a group of innovative financial technology (Fintech) subsidiaries operating in China’s commercial lending industry. Peak’s subsidiaries use technology, analytics and artificial intelligence to create an ecosystem of lenders, borrowers and other participants in China’s commercial lending space where lending operations are conducted rapidly, safely, efficiently and with the utmost transparency. For more information: http://www.peakpositioning.com.
For more information, please contact:
CHF Capital Markets Cathy Hume, CEO 416-868-1079 ext.: 251 [email protected]
Peak Positioning Technologies Inc. Johnson Joseph, President and CEO 514-340-7775 ext.: 501 [email protected]
This news release may include certain forward-looking information, including statements relating to business and operating strategies, plans and prospects for revenue growth, using words including “anticipate”, “believe”, “could”, “expect”, “intend”, “may”, “plan”, “potential”, “project”, “seek”, “should”, “will”, “would” and similar expressions, which are intended to identify a number of these forward-looking statements. Forward-looking information reflects current views with respect to current events and is not a guarantee of future performance and is subject to risks, uncertainties and assumptions. The Company undertakes no obligation to publicly update or review any forward-looking information contained in this news release, except as may be required by applicable laws, rules and regulations. Readers are urged to consider these factors carefully in evaluating any forward-looking information.
