Business Highlights Within the Six-Month ended December 31, 2022:
Mr. Sakib Manzoor, President and CEO said, “We recorded a decrease in both the revenue and gross profit for the period ended
Six-month Ending December 31, 2022, Financial Results:
Six Months Ended December 31, | ||||||||
2022 | 2021 | |||||||
Revenues | $ | 456,274 | $ | 768,729 | ||||
Gross Profit | $ | 365,973 | $ | 672,687 |
Balance Sheet Results
2022 | 2022 | |||||||
Cash | $ | 56,406 | $ | 238,042 | ||||
Total Assets | $ | 123,714 | $ | 285,667 | ||||
Total Liabilities | $ | 581,204 | $ | 485,329 | ||||
Total Stockholders’ Equity | $ | (457,490 | ) | $ | (199,662 | ) |
Mr. Sakib Manzoor added, “While our quarterly performance reflects a decreased total asset portfolio, our cost reduction initiatives has started to yield results and we expect improved performance for quarter ending
Key Strategies for Growth
During next 5 years
- Complete the development of our technology platform to be fully compliant in new jurisdictions that we plan to expand into, namely
New Zealand, USA ,Canada and theUK . The current platform is able to function within Australian legal framework. - Expand in new markets starting with
New Zealand and theUSA markets as phase one of the expansion during 2023.Canada and theUK will be phase two of expansion plan. - Grow the loan book from
USD 0.37B to 2B within next 24 months by acquiring loan books and business acquisitions. The company simultaneously aims to increase the number of full-time employed brokers from current 4 to 10 during the next 24 months period. - White label the mortgage product with a tier one partner to improve branding, customer experience and gross margins upon achieving a loan book value of
USD 1B . - License or franchise the Loan Base platform of new brokers to one broker operations in all jurisdictions we operate.
All these activities are currently underway, and the company shall communicate the progress of execution of each of the above strategic objectives.
Mr.
About
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On
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