Half Year Results Show 141% Revenue Jump
Sydney, Aug 29, 2020 AEST (ABN Newswire) - iSignthis Ltd (
ASX:ISX) (TA8:FRA) has delivered an unaudited profit for the half year after tax of $828,179 versus a loss in the 30 June 2019 half of ($729,190).
Unaudited revenues from ordinary activities in the half year of $18,010,400 were up 141% from the same period in the prior year.
In another positive development, the company finishes the half with around $16 million in the bank and cashflow positive.
Trading of iSignthis shares have been suspended by the ASX since October 2019 on the basis of "share price volatility".
The Company is in the midst of a protracted legal battle with the Australian Stock Exchange (ASX:ASX), where it seeks A$264million (US$195m) in damages against alleged misleading and deceptive conduct by the ASX as part of the suspension.
The Company has spent more than $1m in legal fees combatting the deceptive conduct by the ASX. iSignthis claims that allegations made by the ASX have led to reputational damage of iSignthis, with ASX now required to provide evidence to substantiate their allegations in the Federal Court of Australia. The ASX has thus far failed to provide evidence as part of its allegations against iSignthis.
To view the half year accounts, please visit:
https://www.abnnewswire.net/lnk/C39RW172
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.
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