Symbid Announces 28% Revenue Growth in Second Quarter 2015

About this update from Sincerity Applied Materials Holdings Corp.

[{"type":"text","content":"\n \n \n Symbid Announces 28% Revenue Growth in Second Quarter 2015\n \n \nSymbid Announces 28% Revenue Growth in Second Quarter 2015\n\nFinancial Technology Brand Reports Strong Revenue Growth as New Products Added Within The Funding Network(TM)\n\n \n ROTTERDAM, THE NETHERLANDS and NEW YORK, NY--(Marketwired - Aug 13, 2015) - Symbid Corp. (OTCQB: SBID) www.symbidcorp.com \n \n \n Total revenue of $92,370 for second quarter 2015 includes first revenues from newly launched monitoring and loan crowdfunding products.\n \nRevenue increased 28% in USD compared to the prior year period, while in the operational currency of the Company (EUR) revenue increased 59%, however the significant decrease in the value of EUR compared to USD means the reported revenue increase is lower.\n \nAs of June 30 The Funding Network™ has seen a total transaction volume of $192 million since its launch in March 2015, which the Company expects to result in increased monthly recurring revenue streams.\n \nOperating expenses for the second quarter increased compared to the prior year period due mainly to share-based compensation expenses which accounted for 19% of total second quarter operating expenses of $644,486.\n \nFour high-level executives across financial, media and telecoms industries were added as new members of the Company's Board of Directors.\n \n \n \"We are delighted to report strong revenue growth as our core business continues to expand while we add new revenue streams from our loan crowdfunding and monitoring products. Following its launch in March, the diversified product portfolio of The Funding Network™ is now taking shape, creating value for investors and entrepreneurs. We are starting to reap the commercial benefits of our newly launched investing, monitoring and data tools as we continue to innovate at the forefront of online funding,\" said Korstiaan Zandvliet, co-founder and CEO of Symbid Corp. \n \"We continued to grow our core business with transaction-based crowdfunding revenues up 8% from the same period last year as we added a loan product to became one of the first European platforms to offer both equity and loan crowdfunding. The Company is excited about the potential for this peer-to-business lending product with the market witnessing exponential growth. Meanwhile, our business has successfully pivoted towa...

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