Netcoins Reports $14.1 Million in Revenue for 2017
VANCOUVER, British Columbia, May 02, 2018 (GLOBE NEWSWIRE) — GAR Limited. d/b/a/ Netcoins (“NETC” or the “Company“) (CSE:NETC) is pleased to announce that its wholly-owned operating subsidiary, Netcoins Inc., has completed and filed audited financial statements for the year ended December 31, 2017, reporting $14.1 million in gross revenue and $577,313 in gross margin. The financial statements are available on SEDAR (www.sedar.com) under the profile of GAR Limited.
From a modest start of approximately $33,000 in total sales transactions in January 2017, Netcoins grew steadily throughout 2017 before going public on the Canadian Securities Exchange in March 2018.
“As we continue to generate momentum in our business, it is great to see how well 2017 turned out financially,” said Netcoins CEO, Mark Binns. “We continue to add more resellers and partners globally every month, giving consumers more places to buy cryptocurrency and also enabling more revenue generating locations via our business model.”
About the Company
The Company is in the business of developing software to better facilitate the purchase and sale of bitcoin for end-users. Netcoins enables the sale of bitcoin through its software at retail outlets, through individual agents and directly to clients purchasing and selling in large quantities.
ON BEHALF OF THE BOARD OF DIRECTORS
CEO and Director
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Cautionary Statement Regarding “Forward-Looking” Information
This information release contains certain forward-looking information. Such information involves known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from those implied by statements herein, and therefore these statements should not be read as guarantees of future performance or results. All forward-looking statements are based on the Company’s current beliefs as well as assumptions made by and information currently available to it as well as other factors. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. Due to risks and uncertainties, including the risks and uncertainties identified by the Company in its public securities filings, actual events may differ materially from current expectations. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.