Appendix 4C - Quarterly
- Cash Receipts: $8.850m UP? 4.9% from previous $8.433m last quarter
- Costs $7.433m UP? 3.4% from $7.188m last quarter
- Net Cash from activities (normalised after tax payments): $1.732m UP? 8.1% from $1.602m last quarter
Financial Analysis 3Q20
- 3Q20 is the Company's 6th quarter of positive operating cash flows, with a +$0.4m quarterly result, inclusive of a $1.3m tax payment in Cyprus in the quarter, representing 18 months of tax payable in Cyprus.
- Cash balance at end of quarter was $16.7m in consolidated Group Cash, UP? 7.9 % from last quarter, with a $1.2m increase in the quarter mainly due to the return of card scheme security during the period.
- Client funds held decreased during the quarter to circa $70million, due to a slight reduction in customer confidence as a result of the ASX suspension.
- The Company made a further $0.3m investment in NSX Limited during the quarter.
- Costs related to the ASX legal proceedings in the quarter were circa $0.3m, taking the year to date legal and advisory costs for this matter to circa $1.330m.
- The Company's UK subsidiary, ISX Financial Ltd, was authorised by the UK's principal financial regulator, the Financial Conduct Authority, as an Electronic Money institution. The subsidiary was passported to all EEA member states, inclusive of a "full" payment license comprising all payment services available under the Payment Services Directive (including cash handling, cards, CT/DT's, credit, remittance, AISP and PISP)
- The Company's Probanx subsidiary progressed delivery of the digital ledger technology based digital exchange subregister system (DESS) platform to the ClearPay venture with the National Stock exchange of Australia (NSXA), including integration to the NASDAQ trade match engine. The Company's Paydentity integration to the NSXA platform has been scoped for commencement with a delivery target of March 2021.
- Payments for non executive directors fees and salaries for the quarter were $0.146m
- 3Q20 unaudited revenue was for the Group was circa $8.3m. The percentage of revenue derived from industry segments directed by ASX for reporting by ISX during the quarter is detailed below:
o Options/CFDs/FX - 12%
o Crypto/digital currency - 3%
o Online gambling - 6%
o Online video gaming - 42%
o Credit providers - 7%
o Travel services - 0%
o Other - 30%
To view the report, please visit:
About iSignthis Ltd
iSignthis Ltd (ASX:ISX) (FRA:TA8) is a hybrid monetary financial institution and also a RegTech leader in remote identity verification, payment authentication with deposit taking, transactional banking and payment processing capability. iSignthis provides an end-to-end on-boarding service for merchants, with a unified payment, electronic money and identity service via our Paydentity(TM) and ISXPay(R) solutions.
By converging payments and identity, iSignthis delivers regulatory compliance to an enhanced customer due diligence standard, offering global reach to any of the world's 4.2Bn 'bank verified' card or account holders, that can be remotely on-boarded to meet the Customer Due Diligence requirements of AML regulated merchants in as little as 3 to 5 minutes. Paydentity(TM) has now onboarded and verified more than 1.5m persons to an AML KYC standard.
iSignthis Paydentity(TM) service is the trusted back office solution for regulated entities, allowing merchants to stay ahead of the regulatory curve, and focus on growing their core business. iSignthis' subsidiary, iSignthis eMoney Ltd, trades as ISXPay(R), and is an EEA authorised eMoney Monetary Financial Institution, offering card acquiring in the EEA, and Australia.
ISXPay(R) is a principal member of Mastercard Inc, Diners, Discover, (China) Union Pay International and JCB International, an American Express aggregator, and provides merchants with access to payments via alternative methods including SEPA, Poli Payments, Sofort, PRZ24 and others.
Probanx Solutions Ltd, a wholly owned subsidiary of iSignthis Ltd, provides API based access to CORE Banking solutions, SEPA Core, SEPA Instant and SEPA business scheme, for neobanks, banks, credit unions and emoney institutions, and provides a bridge to the Eurosystem's Central Bank of Lithuania's CENTROLink service.