Business
Quantum Capital, Inc. - QTCI - Reports Quarterly Financial Performance for the Six -Month Ending December 31, 2022.
Quantum Capital, Inc. - QTCI - Reports Quarterly Financial Performance for the Six -Month Ending December 31, 2022..
About this update from Quantum Capital Inc.
[{"type":"text","content":"\n Las Vegas, Nevada, USA, Feb. 08, 2023 (GLOBE NEWSWIRE) -- Quantum Capital Inc QTCI (OTC PINK: QTCI). Quantum Capital, Inc., a fintech and services company that owns, operates, and is expanding a financial intermediary lending platform, on 7 February reported financial results for the six-month ended December 31, 2022. Business Highlights Within the Six-Month ended December 31, 2022: Mr. Sakib Manzoor, President and CEO said, “We recorded a decrease in both the revenue and gross profit for the period ended December 31, 2022 compared to same period last year, mainly due to the sale of subsidiaries of Edunation Pty Ltd and education business.” Six-month Ending December 31, 2022, Financial Results:   Six Months Ended December 31,   2022  2021        Revenues $456,274  $768,729 Gross Profit $365,973  $672,687  Balance Sheet Results    December 31, 2022   June 30,2022          Cash $56,406  $238,042 Total Assets $123,714  $285,667 Total Liabilities $581,204  $485,329 Total Stockholders’ Equity $(457,490)  $(199,662)  Mr. Sakib Manzoor added, “While our quarterly performance reflects a decreased total asset portfolio, our cost reduction initiatives has started to yield results and we expect improved performance for quarter ending March 31, 2023.” Key Strategies for Growth During next 5 years Quantum Capital Inc aims to achieve the following key strategic objectives: Complete the development of our technology platform to be fully compliant in new jurisdictions that we plan to expand into, namely New Zealand, USA, Canada and the UK. The current platform is able to function within Australian legal framework.Expand in new markets starting with New Zealand and the USA markets as phase one of the expansion during 2023. Canada and the UK will be phase two of expansion plan.Grow the loan book from USD 0.37B to 2B within next 24 months by acquiring loan books and business acquisitions. The company simultaneously aims to increase the number of full-time employed brokers from current 4 to 10 during the next 24 months pe...