Quarterly Activities Report
- Cash and cash equivalents at the end of the quarter of EUR9.8m was up EUR0.2m from the prior quarter (EUR9.6m) due to improved revenues and the receipt of a previously disclosed Mastercard receivable, partially offset by increased legal and related costs in the quarter.
- Net cash from operating activities was EUR1.4m in the quarter, due to the timing of a EUR0.7k previously disclosed Mastercard receivable settled in the quarter and increased receipts from customer, up EUR0.8m in the quarter.
- Cash receipts of EUR5.7m were up 17% versus the prior quarter due to seasonality and improved revenues in 2Q, largely from eMoney issuance.
- Payments for suppliers and employees of EUR5.1m were up 12% versus the prior quarter, due to higher legal and advisory costs related to the ASX and ASIC cases in the quarter.
- Legal and advisory costs (non-operating expense) were paid during the quarter totalling EUR727,365, with EUR1,092,617 paid during 1H21.
- Per announcement dated 27 July 2021, reporting currency has changed from $AUD to EUROS (EUR), with EUR1 approx. A$1.58.
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About iSignthis Ltd
iSignthis Ltd (ASX:ISX) (FRA:TA8) is a hybrid monetary financial institution and also a RegTech leader in remote identity verification, payment authentication with deposit taking, transactional banking and payment processing capability. iSignthis provides an end-to-end on-boarding service for merchants, with a unified payment, electronic money and identity service via our Paydentity(TM) and ISXPay(R) solutions.
By converging payments and identity, iSignthis delivers regulatory compliance to an enhanced customer due diligence standard, offering global reach to any of the world's 4.2Bn 'bank verified' card or account holders, that can be remotely on-boarded to meet the Customer Due Diligence requirements of AML regulated merchants in as little as 3 to 5 minutes. Paydentity(TM) has now onboarded and verified more than 1.5m persons to an AML KYC standard.
iSignthis Paydentity(TM) service is the trusted back office solution for regulated entities, allowing merchants to stay ahead of the regulatory curve, and focus on growing their core business. iSignthis' subsidiary, iSignthis eMoney Ltd, trades as ISXPay(R), and is an EEA authorised eMoney Monetary Financial Institution, offering card acquiring in the EEA, and Australia.
ISXPay(R) is a principal member of Mastercard Inc, Diners, Discover, (China) Union Pay International and JCB International, an American Express aggregator, and provides merchants with access to payments via alternative methods including SEPA, Poli Payments, Sofort, PRZ24 and others.
Probanx Solutions Ltd, a wholly owned subsidiary of iSignthis Ltd, provides API based access to CORE Banking solutions, SEPA Core, SEPA Instant and SEPA business scheme, for neobanks, banks, credit unions and emoney institutions, and provides a bridge to the Eurosystem's Central Bank of Lithuania's CENTROLink service.