PLEASANT HILL, CA / ACCESSWIRE / August 3, 2016 / Textmunication Holdings, Inc. (TXHD) Announces Second Quarter Results for the Three months ended June 30, 2016:
- Revenues were $103,449 for the June 2016 quarter versus $74,345 for the June 2015 quarter, an increase of $29,104 or 39%.
- Net Loss was $305,420 for the June 2016 quarter versus a loss of $278,992 for the June 2015 quarter.
- Aspire Consulting Group, which is 49% owned, had $505,000 in gross billings during the first six months of the year, resulting in $24,335 in distributions and $18,941 in Income from Investment in Equity Method Investee.
- Textmunication estimates Third Quarter 2016 revenue will exceed $150,000.
"Textmunication's strategy of leveraging our technology with our enterprise software partners began to pay dividends in the second quarter. We saw significant increases in customer accounts and texting volume," said Wais Asefi, CEO. "We've continued that growth through the first month of the Third quarter, and we anticipate the efforts we've made in the first half of the year to compound as we continue to expand."
More than half of our net loss of $305,420 was non-cash expenses related to financing our business by borrowing money from investors who require us to convert their notes at a discount to the market price of our stock.
We are in the middle of our plan to retire these notes, and it begins with our core business achieving cash flow positive status from operations.
We believe our strategic partnerships are unique for a company of our size, and as we leverage our platform and relationships, we are excited about potential for our business.
Note on forward looking statements:
Certain statements that we make may constitute "forward-looking statements" under the Private Securities Litigation Reform Act of 1995. Forward-looking statements include information concerning future strategic objectives, business prospects, anticipated savings, financial results (including expenses, earnings, liquidity, cash flow and capital expenditures), industry or market conditions, demand for and pricing of our products, acquisitions and divestitures, anticipated results of litigation and regulatory developments or general economic conditions. In addition, words such as "believes," "expects," "anticipates," "intends," "plans," "estimates," "projects," "forecasts," and future or conditional verbs such as "will," "may," "could," "should," and "would," as well as any other statement that necessarily depends on future events, are intended to identify forward-looking statements. Forward-looking statements are not guarantees, and they involve risks, uncertainties and assumptions. Although we make such statements based on assumptions that we believe to be reasonable, there can be no assurance that actual results will not differ materially from those expressed in the forward-looking statements. We caution investors not to rely unduly on any forward-looking statements and urge you to carefully consider the risks described in our filings with the Securities and Exchange Commission from time to time, including our most recent Annual Report on Form 10-K and subsequent Forms 10-Q, which are available on SEC's website at sec.gov. We expressly disclaim any obligation to update any forward-looking statement in the event it later turns out to be inaccurate, whether as a result of new information, future events or otherwise.
Textmunication Holdings, Inc.
SOURCE: Textmunication Holdings, Inc.