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Quantum Capital Inc (QTCI) reported its financial results for the six months ending December 31, 2022, highlighting a significant decline in revenue and gross profit compared to the previous year. Revenues fell to $456,274 from $768,729, while gross profit decreased to $365,973 from $672,687, primarily due to the sale of subsidiaries. The company also reported reduced total assets and increased total liabilities. Despite these setbacks, management expressed optimism for improving cash flow and profitability in the upcoming quarter, supported by ongoing cost reduction initiatives and strategic growth plans, including expansion into new markets.
Quantum Capital Inc (QTCI) has announced a strategic plan to become a global fintech player by 2030. The company aims to expand its personalized lending solutions platform in multiple jurisdictions, including the USA and New Zealand, targeting a loan book growth from USD 0.37 billion to USD 2 billion within 24 months. Leadership changes include the appointment of CEO Sakib Manzoor, who brings over 20 years of experience. The company has also implemented cost-reduction measures to enhance operational efficiency.
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