Quarterly Activities Report
- Net cash from operating activities was EUR0.2m in the quarter.
- Cash and cash equivalents at the end of the quarter of EUR8.5m was down EUR1.3m from the prior quarter (EUR9.8m) due to investments in capitalised software and a further investment in NSX Limited in the quarter.
- Cash receipts of EUR5.7m, broadly stable to the prior quarter.
- Payments for suppliers and employees of EUR5.1m were broadly stable to the prior quarter, with higher product manufacturing costs, offset by lower staff and corporate costs.
- Legal and advisory costs (non-operating expenses) were paid during the quarter totalling EUR902,723, taking the year to date total costs to EUR1,995,340.
- Payments for related parties including executive and non-executive directors' fees and salaries for the quarter were EUR115k.
The revenue breakdown for the quarter is as follows:
- Online video gaming represents twenty percent of revenues, with no single customer being individually material, with exposure to this industry segment up from eighteen percent last quarter.
- Regulated online gaming represent twenty four percent of revenues, with no single customer being individually material, reducing from thirty four percent last quarter.
- CFD/FX represents twelve percent of revenues, with exposure to this industry segment reducing from fourteen percent last quarter. The Company has not at any stage processed payments for binary options providers in any jurisdiction.
- Crypto currency represents two percent of revenues, up from zero percent last quarter.
- Credit providers represent ten percent of revenues, consistent with the prior quarter.
- Travel services remains at zero percent of revenue, consistent with the prior quarter.
- Revenues from other sources, comprise the balance of the breakdown.
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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.