Fast Finance Pay Corp Announces Fiscal 2023 Financial and Operating Results

Rhea-AI Summary

Fast Finance Pay Corp. (FFPP) reported record revenues, operating income, and net income for the fiscal year ended December 31, 2023. The company saw a significant increase in revenues, with a 292% rise to $4.5 million from $1.2 million in 2022. Gross profit also saw a substantial increase to $1.8 million from $307 thousand in the same period in 2022. Net profit increased to $180 thousand from $142 thousand in 2022. The company's focus on customer satisfaction led to obtaining more customers across various markets. The launch of DigiClerk.com, an Artificial Intelligence powered document processing platform, was successful and received positive feedback, contributing to an increase in shareholder equity by $2.2 million to $6.4 million at the end of the year. Fast Finance Pay Corp. aims to continue expansion plans and explore opportunities for uplisting onto a major stock exchange.

BERLIN, GERMANY / ACCESSWIRE / January 24, 2024 / Fast Finance Pay Corp. (OTC PINK:FFPP) today announced its financial results for the fiscal year ended December 31, 2023.

Rahul Mital, President of Fast Finance Pay Corp. stated, "As we continue to navigate through some challenging markets which included higher interest rates and inflation, we committed ourselves to delivering value for our shareholders and partners. I am pleased with our efforts throughout 2023, all of which resulted in record revenues, operating income and net income. Our customer centric focus has resulted in obtaining more customers throughout numerous markets while delivering a higher level of customer satisfaction at all levels."

Operating Results for the Fiscal Year Ended December 31, 2023

• Revenues for the twelve months ended December 31, 2023 were $4.5 million, an increase of 292% from $1.2 million in the same period of 2022.
• Gross profit was $1.8 million, compared to $307 thousand in the same period in 2022.
• Net profit was $180 thousand, as compared to $142 thousand in the same period of 2022.

"When I came on board in mid-December we were in the process of our soft launch of DigiClerk.com. I could not be happier with the launch, the feedback and more importantly success we have attained in such a short period of time. The platform specializes in Artificial Intelligence powered document processing tailored for accountants, lawyers and various sectors within real estate," continued Mr. Mital. "Our balance sheet improved throughout the year which resulted in a $2.2 million increase in our shareholder equity which was $6.4 million at the end of the year. This improvement provides us the flexibility to continue expansion plans and to explore uplisting opportunities onto a major stock exchange."

About Fast Finance Pay Corp.

Fast Finance Pay Corp. is a gateway provider and nascent FinTech, Fast Finance Pay Corp offers a flexible payment platform to assist e-merchants with their online ventures. It allows e-merchants to process all popular payment methods with just one partner instead of installing a multitude of "payment plugins".

OK.de Services contains the OK.de mobile 'free-mailer' e-mail and end-to-end secure, encrypted, instant messaging service. Ok.de is a free email provider with news, comparison portal and numerous other free services. With this service, we are building an active user interface that is used to connect people all over the world on one platform.

With OK.secure, we release a completely free and absolutely secure Messenger-Service on the market: private and secure messaging with a military level of encryption. Via end-to-end-encryption based on the blockchain-technology, OK.secure provides secure communication with chat, video calls, and cloud storage.

For additional information, visit www.ff24pay-corp.com.

Forward-looking statements

This news release may contain forward-looking statements within the meaning of Section 27a of the Securities Act of 1933 (as amended) and section 21e of the Securities and Exchange Act of 1934 (as amended). Those statements include the intent, belief or current expectations of the Company and its management team. Forward-looking statements are projections of events, revenues, income, future economics, research, development, reformulation, product performance or management's plans and objectives for future operations. Some or all the events or results anticipated by these forward-looking statements may not occur. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those projected in the forward-looking statements because of various factors. Accomplishing the strategy described herein is significantly dependent upon numerous factors, many that are not in management's control.

Investor Relations
Andrew Barwicki
516-662-9461
andrew@barwicki.com

SOURCE: Fast Finance Pay Corp.

View the original press release on accesswire.com

FAQ

What were Fast Finance Pay Corp.'s (FFPP) revenues for the fiscal year ended December 31, 2023?

Fast Finance Pay Corp. reported revenues of $4.5 million for the fiscal year ended December 31, 2023, representing a 292% increase from $1.2 million in 2022.

What was the gross profit for Fast Finance Pay Corp. in the same period?

Fast Finance Pay Corp. recorded a gross profit of $1.8 million for the fiscal year ended December 31, 2023, compared to $307 thousand in the same period in 2022.

What was the net profit for Fast Finance Pay Corp. in the same period?

Fast Finance Pay Corp. achieved a net profit of $180 thousand for the fiscal year ended December 31, 2023, as compared to $142 thousand in 2022.

What is DigiClerk.com?

DigiClerk.com is an Artificial Intelligence powered document processing platform tailored for accountants, lawyers, and various sectors within real estate, successfully launched by Fast Finance Pay Corp.

What was the increase in shareholder equity for Fast Finance Pay Corp. at the end of the year?

Fast Finance Pay Corp. saw an increase of $2.2 million in shareholder equity, reaching $6.4 million at the end of the fiscal year.

What are Fast Finance Pay Corp.'s expansion plans?

Fast Finance Pay Corp. aims to continue its expansion plans and explore opportunities for uplisting onto a major stock exchange.