Tenet Fintech Group Inc - PKKFF STOCK NEWS

Tenet Fintech Group announced its Q1 2024 financial results. The company reported revenue of $765,635, an adjusted EBITDA of ($3.1 million), and a net loss of $5.41 million. This significant drop in revenue from $9.49 million in Q1 2023 is attributed to a transition from transaction fees to a subscription fee-based model and new regulations in China. The company also faced lingering effects from internal control struggles in 2023. Tenet has adapted its platforms to comply with new Chinese regulations and expects to resume regular activity in Q2 2024. Development continued on the Cubeler® Business Hub in Canada, and a new data science subsidiary was established in China.

Tenet Fintech Group and Able View Global have reached an agreement in principle to distribute Canadian brands in China. Tenet, known for its Cubeler Business Hub, will collaborate with Able View, China's second largest international beauty and personal care brand manager. The partnership aims to develop a program to identify Canadian brands suitable for distribution in China. The revenue-sharing structure between the companies is expected to be finalized by July 31, 2024.

Tenet Fintech Group Inc. released an interview with CEO Johnson Joseph discussing the year-end 2023 financial results. The interview covers key insights into the company's performance and is accessible on the company's website.

Tenet Fintech Group Inc. announced its 2023 financial results, reporting revenue of $42.08 million, a net loss of $78.33 million, and negative cash flow. The revenue decline was impacted by CEO and executive changes, operational restructuring in China, and the transition to a data-driven revenue model. The company's operating highlights include partnerships with eCapital and the Canadian Chamber of Commerce, as well as the launch of Tenoris3 data science subsidiary's website. Tenet's focus for 2024 is on launching ie-Pulse and Equity Insider products and expanding operations in the U.S. and China.

Tenet Fintech Group Inc. director and CEO Liang Qiu acquires 475 units of the company for $475,000, consisting of convertible debentures and warrants. Mr. Qiu now holds approximately 12.15% of the company's common shares on a partially diluted basis. The acquisition was made outside of market facilities. This acquisition is in compliance with securities laws and is part of Mr. Qiu's investment strategy.

Tenet Fintech Group Inc. (CSE: PKK) (OTC Pink: PKKFF) announced a marketed private placement offering of securities for gross proceeds of up to $10,000,000 with Research Capital Corporation as the lead agent and sole bookrunner. The company has raised a total of $10,943,000 gross proceeds to date and proposes to raise the remainder in the RCC Financing.

Tenet Fintech Group Inc. (PKK) processed and delivered over 10,000 parcels worth approximately CAD$2,000,000 during China's Singles' Day shopping event. The company's updated Fast Duck Supply-chain Management software contributed to better distribution and delivery efficiency for online consumer goods retailers and distributors in China.

Tenet Fintech Group Inc. (CSE: PKK) (OTC Pink: PKKFF) announced that the Cubeler® Business Hub facilitated over $1,250,000 in loans in Canada in November 2023. The platform also attracted new lenders and saw a 25% increase in SME registrations in the fourth quarter of 2023.

Tenet Fintech Group Inc. (CSE: PKK) (OTC Pink: PKKFF) announced its financial results and operating highlights for the three-month and nine-month periods ended September 30, 2023, and September 30, 2022. The company reported a total revenue of $9.2M for the quarter and a net loss of $43.0M, including $36.4M of non-cash impairment charges. Q3 Operating Highlights include the closing of $10.9M of planned total of $20M private placement financing and a strategic alliance with Certified Professional Bookkeepers of Canada.