Midpoint Holdings Limited (TSX.V: MPT) announced on the 31st October 2017 its annual financial results for the 12-months (12m) and the quarterly results for the 4th quarter (4Q) ending June 2017. The Company has been able to demonstrate considerable financial progress during the year reporting significant growth in revenues and a greatly reduced net loss which benefitted also from the improved expense performance. Midpoint Holdings Limited’s (TSX.V: MPT) previous financial statements have always carried material uncertainty and substantial doubt about the Company’s ability to continue as a going concern. These are the first set of annual results announced where the current management team led by David Wong, CEO and Corbin Comishin, CFO has been in place for the entire period. We are very pleased to note from the independent auditor’s report that the improvement relieves company of past going concern. Midpoint Holdings Limited’s (TSX.V: MPT) filings noted that Wong and Comishin were appointed in November 2015 and as of September 30th, 2015 the business had cash of $129,827 with liabilities of $447,813. Investors have also taken notice of management’s efforts which have been reflected in the share price performance.
We are pleased to see the continued strong development of Midpoint through the significant reported financial performance and through its enhanced financial position. We remain optimistic for the Company’s future expansion of the business through the platform leading to further growth in revenues and the emergence of full year statutory profit.
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