READEN HOLDING CORPORATION (OTC PINK: RHCO) ANNOUNCES FILING OF DECEMBER 31, 2024 FINANCIAL STATEMENTS WITH OTC MARKETS

Rhea-AI Summary

Readen Holding (OTC PINK: RHCO) has filed its financial statements for the period ending December 31, 2024, reporting a net profit of $709,052 and total revenue of $5.71 million, with a gross profit of $1.35 million. The company's blockchain-powered Readies platform, operated by its subsidiary Finexeble S.R.O., continues to evolve as a next-generation digital payment ecosystem.

RHCO is expanding globally with a new office in Dubai and is pursuing a Virtual Assets Regulatory Authority (VARA) license. This expansion, combined with their existing Virtual Asset Service Provider (VASP) license, is expected to significantly scale their crypto operations. CEO Ridzky Berg anticipates this strategic move could increase their business volume fivefold, leveraging Dubai's supportive environment for digital assets.

Positive

• Net profit of $709,052 for the period ending December 31, 2024
• Total revenue reached $5.71 million
• Gross profit of $1.35 million
• Expansion into Dubai market with new operating office
• Pursuing VARA license to enhance crypto operations
• Potential fivefold increase in business volume through Dubai expansion

Negative

• None.

News Market Reaction – RHCO

+28.51%

1 alert

+28.51% News Effect

On the day this news was published, RHCO gained 28.51%, reflecting a significant positive market reaction.

Data tracked by StockTitan Argus on the day of publication.

HONG KONG, Feb. 12, 2025 /PRNewswire/ -- READEN HOLDING CORPORATION (OTC PINK: RHCO), a leading Venture Capital Corporation specializing in Fintech, Online Payment, and E-commerce, today announced the filing of its financial statements for the period ending December 31, 2024, with OTC Markets Disclosure & News Service.

For the period, RHCO reported a net profit of $709,052, reflecting strong performance in the fourth quarter of 2024. Total revenue reached $5.71 million, driven by the company's strategic expansion in financial technology and digital payment solutions. Gross profit stood at $1.35 million, underscoring RHCO's ability to scale operations while maintaining profitability.

RHCO's blockchain-powered Readies platform has continued its transformation into a next-generation digital payment ecosystem, redefining how businesses and consumers transact. Readies is operated under Finexeble S.R.O., a wholly owned subsidiary of RHCO, which holds a cryptocurrency license in the Czech Republic. By seamlessly integrating traditional finance with cryptocurrency payments, Readies delivers faster settlements, lower transaction fees, and enhanced financial flexibility. The platform has undergone significant advancements, including expanded cross-border payment capabilities and state-of-the-art fraud prevention measures. These enhancements further strengthen Readies' position as a leading hybrid payment solution, catering to the evolving needs of a global digital economy. As adoption accelerates, Readies is solidifying RHCO's role at the forefront of financial innovation.

Looking ahead to 2025, RHCO is making strategic moves to expand its global presence. The company is establishing a new operating office in Dubai, a thriving hub for fintech and digital assets. As part of this expansion, RHCO is in the process of obtaining a Virtual Assets Regulatory Authority (VARA) license, which will allow it to legally operate crypto-related businesses within Dubai's rapidly growing digital economy. Combined with its existing Virtual Asset Service Provider (VASP) license, the VARA license will enable RHCO to significantly scale its crypto operations, leveraging Dubai's robust regulatory framework and supportive business environment. This expansion will also accelerate the integration of cryptocurrency solutions into Readies, further strengthening its position as a regulated, secure, and innovative financial platform for businesses and users worldwide.

Ridzky Berg, CEO of RHCO, commented: "Our performance in the last six months underscores our commitment to driving fintech innovation and expanding our global reach. Readies has placed us at the forefront of the digital payment revolution, and our strategic expansion into Dubai — along with the VARA license — will unlock even greater opportunities in the crypto and blockchain space. With the combination of our existing VASP license and the upcoming VARA license, we anticipate exponential growth in our crypto-related operations, potentially increasing our business volume fivefold. Dubai's regulatory clarity and supportive environment for digital assets make it the ideal location for our next phase of expansion. As we move into 2025, we remain focused on scaling our fintech ecosystem, launching new digital payment solutions, and forging strategic partnerships that will drive long-term value for our shareholders."

Readen Holding Corp. (www.readenholdingcorp.com) is a publicly traded Venture Capital Corporation, with major holdings in the Fintech Industry and has been increasing its investment in E-commerce and E-payment sectors, such as;

OkePay:	www.okepay.biz
OkePay VPOS:	www.okepay.biz/vpos
Oke Partners / OkeApp:	www.okepartners.com
OkToken:	oktoken.biz
Readies:	www.readies.biz
Neckermann:	www.neckermanndirect.eu
Two Percent:	www.twopercent.hk

RHCO is a diversified holding company, with an operating history of over 30 years, which seeks opportunities to acquire and grow businesses that can generate long-term sustainable free cash flow and attractive returns, in order to maximize value for all shareholders. RHCO has subsidiaries and liaison offices in Europe and Asia.

The RHCO corporate website can be accessed at www.readenholdingcorp.com
The RHCO Twitter account can be accessed at https://twitter.com/readenrhco

This press release contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, which are intended to be covered by the safe harbors created thereby. Investors are cautioned that, all forward-looking statements involve risks and uncertainties, including without limitation, the ability of Readen Holding Corp. to accomplish its stated plan of business. Readen Holding Corp. believes that the assumptions underlying the forward-looking statements contained herein are reasonable, any of the assumptions could be inaccurate, and therefore, there can be no assurance that the forward-looking statements included in this press release will prove to be accurate. In light of the significant uncertainties inherent in the forward- looking statements included herein, the inclusion of such information should not be regarded as a representation by Readen Holding Corp. or any other person.

 

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SOURCE Readen Holding Corp.

FAQ

What were RHCO's financial results for Q4 2024?

RHCO reported a net profit of $709,052, total revenue of $5.71 million, and gross profit of $1.35 million for the period ending December 31, 2024.

What is RHCO's expansion strategy in Dubai?

RHCO is establishing a new operating office in Dubai and pursuing a VARA license to legally operate crypto-related businesses in Dubai's digital economy.

How much growth does RHCO expect from its Dubai expansion?

RHCO anticipates a potential fivefold increase in business volume through the combination of their VASP license and upcoming VARA license in Dubai.

What is the Readies platform by RHCO?

Readies is RHCO's blockchain-powered digital payment ecosystem that integrates traditional finance with cryptocurrency payments, offering faster settlements and lower transaction fees.

Which licenses does RHCO hold for cryptocurrency operations?

RHCO currently holds a cryptocurrency license in the Czech Republic through Finexeble S.R.O. and is pursuing a VARA license in Dubai.