The OLB Group, Inc. Reports Earnings Results for the First Quarter Ended March 31, 2023
May 15, 2023 at 05:30 pm EDT
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The OLB Group, Inc. reported earnings results for the first quarter ended March 31, 2023. For the first quarter, the company reported sales was USD 0.166749 million compared to USD 0.26434 million a year ago. Revenue was USD 6.62 million compared to USD 8.79 million a year ago.
Net loss was USD 2.62 million compared to USD 1.46 million a year ago. Basic loss per share from continuing operations was USD 0.17 compared to USD 0.11 a year ago. Diluted loss per share from continuing operations was USD 0.17 compared to USD 0.11 a year ago.
The OLB Group, Inc. is a diversified Fintech eCommerce merchant services provider and Bitcoin crypto mining enterprise. Its eCommerce platform delivers cloud-based merchant services for a comprehensive digital commerce solution to over 10,300 merchants in diversified market sectors in all 50 states. Its business functions through three subsidiaries, eVance, Inc. (eVance), OmniSoft.io, Inc. (OmniSoft), and CrowdPay.Us, Inc. (CrowdPay). OmniSoft operates a cloud-based business management platform that provides turnkey solutions for merchants to enable them to build and manage their retail businesses. eVance provides competitive payment processing solutions to merchants, which enable merchants to process credit and debit card-based internet payments for sales of their products. CrowdPay.US operates a white label capital raising platform that targets small and midsized businesses seeking to raise capital. DMint, a subsidiary of the Company, is engaged in the mining of Bitcoin in Tennessee.