VANCOUVER, BC, October 31, 2022 /PRNewswire/ – Mobilum Technologies Inc. (the “company“) MBLM MBLMF (FRA: C0B), a technology-focused company that makes digital assets and cryptocurrencies accessible through traditional finance and payments infrastructures and the first solution provider of fiat-to-dex token rails, reported its financial results for the end of the second quarter August 31, 2022. Additional information on the results can be found in Mobilum Technologies’ financial statements and management’s discussion and analysis as filed on SEDAR October 31, 2022.
Highlights of the second quarter of 2022 include:
- Ended the second quarter as of August 31, 2022 with a cash balance of $2.02 million.
- Q2 earnings for the 3 month end August 31, 2022 reached $787,735rising up 5.43 times over Q1 sales.
- The net operating loss for the three month period was $177,413presents a 93% Decrease in operating loss sequentially.
Company update:
Mobilum is a diversified payment services company whose mission is to introduce innovative solutions to the crypto industry, including traditional financial companies entering this market. In May 2022, Mobilum announced a new project with Binance and in July, Mobilum launched its Virtual International Bank Account Number (vIBAN) solution with a banking partner.
Mobilum is continuously expanding its range. The Mobilum team plans to launch a new wallet without a custodian combined with prepaid payment functions in the coming quarter. This program was sponsored in part by a global credit card provider.
In addition to new product developments, Mobilum also continues to build traction on its core products such as its onramp services. The onramp business is a competitive market and is subject to high ebbs and flows of the general public crypto Market. Mobilum continues to attract new onramping customers and is poised to win as transaction volumes increase.
Market update:
The current price of Bitcoin stays in the deep $20,000 Prices and tests of his…
