EZTrader Seeks to Re-quote its Shares on the OTCQB Market and Reports Significant Revenue Growth in the First Half of 2014
September 16 2014 - 10:46AM
Business Wire
EZTrader Inc. (“EZTrader” or the “Company”) (OTCPINK SYMBOL
WGMI), a worldwide leader of online binary options trading, reports
a five-fold increase in total revenues for the six months ended
June 30, 2014 to $7.95 million from $1.52 million for the period of
six months ended June 30, 2013. Additionally, the Company announced
that it has filed documentation with the U.S. Securities &
Exchange Commission (SEC) to register its shares of common stock
with the SEC to later allow re-quotation of such shares on the
OTCQB market.
Financial Highlights for the six-month ended June 30
2014
- Significant growth in revenue to $7.95
million, in the first six months of 2014 (H1 2013: $1.52
million)
- EBITDA excluding Stock Based
Compensation and non-recurring expenses for the first six months of
2014 reflected a loss of $226K compared with an EBITDA loss of
$2.76 Million for the year ended December 31, 2013
- Raised $3.94 million in May 2014 at a
price of $0.50 per share reflecting the growth and developing
business
- Cash and cash equivalents at June 30,
2014 were $6.95 million (June 30, 2013: $0.17 million)
“Internationally, we are seeing an increased interest in binary
options as a popular type of global trading tool,” said Shimon
Citron, Chief Executive Officer of EZTrader. “Customers will
continue to favor regulated online trading providers with a global
reach. We continue to enhance and develop our existing trading
platform to anticipate market trends and customer
expectations.”
In March 2014, the Cyprus Securities and Exchange Commission
(“CYSEC”) authorized EZTrader to provide its services in all
European Union (EU) member states. To comply with U.S. federal
securities laws and U.S. Commodity Futures Trading Commission
(“CFTC”) regulations, EZTrader blocks U.S. and Canadian persons
from using its trading platform.
EZTrader’s investment in marketing and advertising in Europe
with targeted and cost-effective efforts includes both online and
off-line media channels, affiliate programs and sponsorships. The
Company recently entered into strategic partnerships with Germany
and Netherlands’ premier soccer clubs, Bayer 04 Leverkusen and
Feyenoord Rotterdam.
The Company has seen a measurable increase in new customers
driven by its enhanced brand visibility. In the first half of 2014,
EZTrader had record customer growth with an increase of 145% to
7,854 new customers, up from 3,200 in H1 2013. This trend has
continued and the company attained 6,660 new customers in July and
August of 2014.
Commenting on decision to re-register with the SEC and seek
quotation of EZTrader’s shares on the OTCQB market, Mr. Citron
said, “Our growth strategy focuses on operating in fully regulated
markets only, where greater awareness of binary option trading
delivers significant results. We are on a solid strategic path and
working to get our shares quoted again on the OTCQB is another
important step that will bring increased visibility worldwide.”
Binary option trading is being offered on
http://www.eztrader.com by WGM Services Ltd., a wholly owned
subsidiary of the Company, registered in Cyprus and authorized by
the Cyprus Stock Exchange Commission (CySEC). EZTrader offers one
of the binary options trading websites with self-developed
proprietary technology, unlike most of its competitors that rely on
third-party software providers. With its trading platform, the
Company incurs no external license fees and can manage its modular
server architecture designed to maximize trade reliability, speed
and network security across the network. In addition, EZTrader
operates through a number of different scalable servers, so that if
one or more should fail, the remaining servers are in a position to
maintain the operations.
About EZTrader
EZ trader is one of the pioneers of online binary trading and
maintains its position as a leading, reputable and reliable binary
options platform. EZTrader.com is currently available in more than
11 languages and offers more than 120 trading assets including
currencies, stocks and indices. The Company is growing rapidly and
continues to seek exciting opportunities to further enhance its
presence throughout Europe. With a robust and reliable platform and
leading mobile app technology, EZTrader.com is one of the most
popular and advanced online binary option trading platforms.
EZTrader.com is operated by WGM Services Ltd., a wholly owned
subsidiary of the Company, registered in Cyprus and authorized by
the Cyprus Stock Exchange Commission (CySEC).
Safe Harbor Statement
This press release contains forward-looking statements. In some
cases these forward-looking statements can be identified by the use
of forward-looking terminology, including the terms “believes,”
“estimates,” “anticipates, ”expects,” “plans,” intends,” “may,”
“could,” “might,” “will,” “should,” “approximately,” “potential,”
or in each case, their negative or other variations thereon or
comparable terminology, although not all forward-looking statements
contain these words. For example, we are using forward
looking-statements when we discuss that customers will continue to
favor regulated online trading providers with a global reach, or
continuing to enhance and develop our existing trading platform to
anticipate market trends and customer expectations, or when we
discuss getting our shares quoted again on the OTCQB and how this
step will bring increased visibility worldwide or that we continue
to seek exciting opportunities to further enhance our presence
throughout Europe. These forward-looking statements and their
implications are based on the current expectations of the
management of EZTrader Inc. (“EZTrader”) only, and are subject to a
number of factors and uncertainties, many of which are beyond the
control of EZTrader, and cannot be predicted or quantified and
consequently, actual results may differ materially from those
expressed or implied by such forward-looking statements. EZTrader
undertakes no obligation to publicly release any revisions to these
forward-looking statements to reflect events or circumstances after
the date hereof or to reflect the occurrence of unanticipated
events. For a more detailed description of the risks and
uncertainties affecting EZTrader, reference is made to the heading
"Risk Factors" in EZTrader's registration statement on Form 10
filed with the Securities and Exchange Commission.
Luther Pendragon USABeth Jarecki, 917-364-6044
EZTD (CE) (USOTC:EZTD)
Historical Stock Chart
From Jun 2024 to Jul 2024
EZTD (CE) (USOTC:EZTD)
Historical Stock Chart
From Jul 2023 to Jul 2024