#Blockchain Stock News: Upco International Inc. (CSE: $UPCO.C) (OTC: $UCCPF) (FSE: U06) Announces Second Quarter Results Ended June 30 2018
Vancouver, British Columbia - August 27, 2018 (Investorideas.com Newswire) Upco International Inc. (CSE: UPCO) (Frankfurt: U06) ("UPCO") is pleased to announce it has filed its consolidated financial statements and Management's Discussion and Analysis for the second quarter ended June 30, 2018. These documents can be accessed from the SEDAR web site at www.sedar.com.
Upco is a cloud-based mobile service company which provides high-quality voice termination to a market driven by the growing activity in online communications and commerce. Upco is a licensed Global Telecom Carrier within the international VoIP (voice over IP) wholesale business. Upco has designed a software application for Apple iOS and Android, similar to SKYPE and WhatsApp. With the forthcoming addition of the Upco E-Wallet using Blockchain Payment Services, users will be able to: send invoices, approve payments, transfer international funds, convert international currencies, and track transfers and payments.
Upco reported revenues US$728,717 (2017 - US$1,759,110) and a net loss of US$150,852 (2017 - net profit of US$4,501) for its first quarter ended June 30, 2018.
Hightlights for the quarter:
- Issued 10,252,500 shares at $0.20 per share for gross proceeds of $2,050,500. The Proceeds will be used for general working capital. All the shares issued will have a 4-month hold.
- Announced the opening of its new office in Rome Italy to accelerate sales penetration in Europe, consistent with its strategic and marketing plans. The Rome office will act as a focal point for business activities in Europe, complementing other regional offices in New York and Vancouver, British Columbia.
- Announced that it is in discussions with Emoney plc www.emoney.com.mt to support Upco's monetary payment and transfer services within Europe. Emoney is a Financial Institution, licensed in Malta with a European Passport, and has a decade of proven management experience in the world of electronic money, issuance of online current accounts and issuance of rechargeable credit cards.
- Announced that it has contracted with Nexmo Inc., a subsidiary of Vonage Holdings Corporation, to provide SMS Authentication services for its mobile platform. Nexmo is a leading cloud Communications Platform as a Service ("CPaaS") provider, offering APIs for SMS, voice, and phone verifications to facilitate communications worldwide, and a range of other solutions to the mobile communications sector.
About Upco International Inc.
Upco International Inc. is a cloud-based mobile service company which provides high-quality voice termination to a market driven by the growing activity in online communications and commerce. Upco is a licensed Global Telecom Carrier within the international VoIP (voice over IP) wholesale business. Upco has designed a software application for Apple iOS and Android, similar to SKYPE and WhatsApp. With the forthcoming addition of the Upco E-Wallet using Blockchain Payment Services, users will be able to: send invoices, approve payments, transfer international funds, convert international currencies, and track transfers and payments. The application will also allow vendors to securely share account information with their clients.
Please visit www.upcointernational.com for further information.
ON BEHALF OF THE BOARD OF DIRECTORS
Andrea Pagani, CEO and Director
This press release contains forward-looking information or forward-looking statements (collectively "forward- looking information") within the meaning of applicable securities laws. Forward- looking information is typically identified by words such as: "will" "may" "believe", "expect", "anticipate", "intend", "estimate", "development", "forthcoming", "potentially" and similar expressions, or are those, which, by their nature, refer to future events. Upco cautions investors that any forward-looking information provided by Upco is not a guarantee of future results or performance.
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