Business
Next Group Holdings, Inc. Announces Record Revenue for Third Quarter 2017
Next Group Holdings, Inc. Announces Record Revenue for Third Quarter 2017.
About this update from Cuentas Inc.
[{"type":"text","content":"\n\n\n\nNext Group Holdings, Inc. Announces Record Revenue for Third Quarter 2017\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\nNext Group Holdings, Inc. Announces Record Revenue for Third Quarter 2017\nCompany Posts Third Consecutive Quarter of Record Revenue at $625,188; 21% Year Over Year Increase\nPR Newswire\nMIAMI, Nov. 28, 2017\n\n\n\nMIAMI, Nov. 28, 2017 /PRNewswire/ -- Next Group Holdings, Inc. (OTCQB: NXGH) today announced results for its third quarter of fiscal year 2017 which ended September 30, 2017, including record revenue for the third consecutive quarter.  The results were posted in the company's most recent Form 10-Q, filed with the SEC on November 20, 2017.\n\nTotal revenue for the third quarter of fiscal year 2017 was a record $625,188, compared to $515,230 for the same period last year, with the 21% increase in revenue attributable to executive management's focus on clean up of debt and the creation of new business lines. Operating expenses for the three months dropped significantly during the three months ended September 30, 2017, from $1,868,409 the prior year to $522,183.  The dramatic decrease of 72% in operating expenses is due mainly to a decrease in stock based compensation included in officer compensation and professional fees.\n\nNet income before non-controlling interest for the three months ending September 30, 2017 was a record $1,686,608 – or $.0047 per fully diluted share – compared to a loss of $1,015,864 for the same period of 2016.  The significant improvement is due mainly to a decrease in stock based compensation in the current period partially offset by increased losses on the fair value measurement of derivative liabilities.  Net income before non-controlling interest for the nine months ended September 30, 2017 was $51,243, compared to a loss of $4,765,325 for the nine months ended September 30, 2016.                 \n\nFull contents of the 10-Q filing can be found at NXGH 10-Q for Nine Month Period E...