CLIP MONEY INC - CLPMF STOCK NEWS

Clip Money reports significant adoption of its ClipChange cash and change delivery service, delivering over 3,000 change orders valued at more than $1 million USD since its launch earlier this year. The service is currently utilized by more than 650 stores across retail and hospitality segments.

ClipChange is an insured delivery service that modernizes cash management processes, building upon Clip's existing ClipDrop and ClipATM services. The platform allows businesses to order pre-packaged coins and banknotes with tracking capabilities, eliminating the need for branch visits and armored carriers. Through the Clip Money Cashboard, businesses can track orders and manage cash status efficiently.

Notable clients using Clip Money's services include Lids, Miss A, Torrid, and International Restaurant Management Group.

Clip Money Inc. reported strong Q3 2024 financial results with revenue reaching $521,316, marking a 250% year-over-year growth. The company saw a 34% quarter-over-quarter revenue increase, with September 2024 revenue at $212,103. Operating expenses were $1,597,181, up 22% YoY but down 7% QoQ. The net loss improved 4% YoY to ($2,383,256). Growth was driven by a 101% increase in deposit users and 65% increase in average deposit revenue per user. The company secured $2,800,000 through convertible notes and expanded its network to 408 deposit units, with notable customer wins including Genesco Inc.'s rollout across its retail locations.

Clip Money (TSX-V: CLIP) has announced a new advisory services agreement with Oak Hill Financial for investor relations services. Oak Hill, based in Toronto, will assist Clip with investor outreach, engagement, new investor identification, and marketing efforts. The initial one-month agreement begins November 7, 2024, with monthly renewals at Clip's discretion. The service fee is set at CDN$10,000 per month plus taxes. Oak Hill currently holds no securities or rights to acquire interests in Clip.

Clip Money announces expansion of its partnership with CBL Properties to provide on-site cash deposit services across 36 shopping malls. Following successful installations in 16 CBL properties during Phase 1 in early 2024, Phase 2 will add 20 more locations by Q4. The expansion will potentially service over 3,700 retailers within CBL's portfolio. Clip's technology allows retailers to make cash deposits without leaving mall premises and offers ClipChange service for on-site coin and cash deliveries. This solution helps stores reduce time spent on cash management and eliminates the need for costly armored carrier services.

Clip Money Inc. (TSX-V: CLIP) (OTCQB: CLPMF) has closed a US$2.8 million non-brokered private placement of unsecured convertible notes. PeoplesBank led the financing with a US$2 million investment, while Cardtronics Inc., a subsidiary of NCR Atleos and Clip Money's largest shareholder, invested US$800,000. The convertible notes have a 5-year maturity and accrue 13% annual interest. The company will use the proceeds for network expansion, customer acquisition, capital expenditures, and general corporate purposes. This financing demonstrates confidence in Clip Money's mission to transform business cash management and strengthen its position in the market.

Clip Money Inc. (TSX-V: CLIP), a multi-bank self-service deposit system provider for businesses, has announced changes to its Board of Directors. Mr. Jeff Gibson has resigned after two years of service. The company has appointed Mr. Don Layden Jr. to the board, bringing extensive experience from his roles at NCR and Levy & Enders Mr. Layden's expertise in payments, banking, and fintech aligns with Clip's mission to revolutionize business cash management.

In connection with the appointment, Clip has granted Mr. Layden 87,500 stock options with a one-year vesting period, an exercise price of CDN$0.24, and a 10-year expiration. CEO Joe Arrage expressed confidence in Mr. Layden's ability to drive growth and expand the business.

Clip Money Inc. (TSXV:CLIP) (OTCQB:CLPMF) reported strong financial results for Q2 2024. Revenue surged 764% year-over-year to $387,955, with 30% quarter-over-quarter growth. The company's ClipDrop network expanded by 34 shopping center locations, driving a 458% increase in deposit users and 168% rise in average revenue per user. Notably, COGS only increased 20% YoY and decreased 4% QoQ despite revenue growth.

Clip Money also announced an expanded pilot with a major ATM operator, bringing its in-store ATM deposit functionality to over 40 additional ATMs in convenience stores across Florida, Texas, and Virginia. This expansion demonstrates the scalability of Clip's platform and its potential for growth in the convenience store sector.

Clip Money, Inc. (TSXV:CLIP) (OTCQB:CLPMF) and Strategic Treasurer, are hosting a live webinar on August 8 at 2pm EST titled 'Identifying and Addressing Business Deposit Challenges: A B2C Focus'. The event aims to address the complexities of consumer payment deposits and collections, particularly focusing on cash management challenges in retail businesses.

Clip's President, Brian Bailey, will co-host the webinar, which will explore issues related to costs, liquidity, visibility, flexibility, and safety in cash deposits. The webinar will also highlight innovations in the business deposit space, including Clip's self-service solutions available at 3,000+ locations in the United States and Canada.

Clip Money, Inc. (TSXV:CLIP) (OTCQB:CLPMF) has announced a strategic partnership with WPG, a major commercial real estate owner in the United States. This collaboration will expand Clip's cash deposit network for businesses, introducing ClipDrop services to 23 new shopping center locations.

Clip's technology offers a multi-bank, self-service deposit system for businesses, providing a secure and convenient solution for cash and coin management. The partnership aims to serve over 3,000 retail stores within walking distance of ClipDrop locations, eliminating the need for off-site bank visits or armored car services.

Additionally, Clip has launched ClipChange, a coin and banknote delivery service, further enhancing its cash management offerings. This expansion addresses the growing demand for improved store operations and enhanced loss prevention measures in the retail sector.