CLIP MONEY INC - CLPMF STOCK NEWS

On June 25, 2024, Clip Money (TSXV:CLIP) announced the issuance of 300,000 stock options to its directors as a recognition of their service. These options have a one-year vesting period and are priced at CDN$0.22, which was the trading price at the close of business on June 24, 2024. They will expire 10 years from the grant date. The issuance is part of the company's omnibus equity incentive plan, which allows for up to 10,494,753 common shares to be issued.

Clip Money announced the results from its Annual and Special Meeting of Shareholders held on June 24, 2024. All five nominees for the board of directors were elected, each receiving over 96% of the total votes. Joseph Arrage and Jeff Gibson led with 98.88% of votes. The resolution to appoint MNP LLP as auditors passed with 98.93%. The Omnibus Equity Incentive Plan was approved with 98.79% of votes. Additionally, the special resolution to continue the company under Ontario’s laws passed with 98.07%. Full voting results are available on SEDAR+.

Clip Money reported Q1 2024 revenue of $299,176, an increase of over 850% YoY from $31,465 in Q1 2023. This growth was driven by an 821% rise in new users making deposits and revenue from new products. The Cost of Goods Sold (COGS) also increased by 32% YoY. The company saw customer retention and expansion, with five major customers adding new locations. New customers included a national jewelry retailer and a children's entertainment provider. Clip launched its Change Order and ATM products, contributing to this growth. Financial details are available on SEDAR+. All figures are in U.S. dollars.

Clip Money has announced an expansion of its pilot partnership with a leading ATM operator.

The initiative will expand Clip's in-store ATM deposit functionality to 50 additional ATMs in convenience stores across Florida, Texas, and Virginia.

This follows a successful pilot in 5 stores in Dallas, Texas.

The ClipATM technology allows businesses to deposit funds directly into their commercial treasury accounts without needing traditional cash deposit methods.

The platform offers a digital experience, enhanced transaction visibility, improved security, and faster fund access.

CEO Joseph Arrage highlights the opportunity to modernize cash management for businesses through this partnership.

Clip Money, Inc. announced a partnership with The Michaels Group, a franchise owner of Pandora Jewelry, to implement a cost-effective cash management platform. The Michaels Group chose Clip's innovative solution to reduce monthly costs by 45%, saving $2,500 per store annually. This partnership aims to streamline cash handling processes and improve operational efficiency.

Clip Money Inc. announced its 2023 financial results, highlighting a significant revenue increase to $577,919 from $27,687 in 2022, fueled by partnerships with NCR Atleos and expanded deposit networks. The company secured investments, completed private placements, and launched new solutions like Clip Change Order and Clip ATM. Clip Money's innovative platform enables cash deposits through a vast network of locations, simplifying banking for businesses and driving customer growth.

Clip Money, Inc. introduces ClipChange, a new delivery service to enhance cash management for businesses by providing coins and small banknotes directly to retail businesses. The service allows partners to select pre-packaged values and track deliveries, eliminating the need for branch visits and armored carriers. ClipChange is part of Clip's commitment to modernizing business cash operations and is well-received by leading customers in the retail and restaurant industries.

Clip Money Inc. announces the voluntary termination of 275,000 old options by Joseph Arrage to redistribute them to key employees as 275,000 new options with a three-year vesting period and an exercise price of CDN$0.20, aiming to enhance shareholder value.

Clip Money, Inc. (CLPMF) expands its network to over 3,000 deposit taking locations through strategic partnerships with shopping malls and NCR Atleos. The collaborations aim to enhance cash deposit solutions for businesses and Financial Institutions (FIs) across the US, offering convenience and security. Clip's innovative approach to digital cash management provides opportunities for FIs to grow commercial relationships in new markets, reducing costs associated with traditional banking processes.