#Blockchain Stock News; UPCO International Inc. (CSE: $UPCO.C) (OTC: $UCCPF) (Frankfurt: U06) Announces Year Ended 2017 Results
#Blockchain Stock News; UPCO
International Inc. (CSE: $UPCO.C) (OTC: $UCCPF) (Frankfurt: U06) Announces Year Ended
2017 Results
Upco reports revenues US$6,688,138
Vancouver,
BC, April 16, 2018, (Investorideas.com Newswire) Upco International Inc. (CSE:
UPCO) (OTC: UCCPF) (Frankfurt: U06) (“Upco”) is
pleased to announce it has filed its audited consolidated
financial statements and Management’s Discussion and Analysis for the year
ended December 31, 2017. 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$6,688,138 (2016 - US$12,068,708)
and a net loss of US$1,212,152 (2016 - US$608,557) for its fiscal year 2017.
Hightlights for
2017
-
Announced
plans to expand its current mobile application to include a payment service
using advanced blockchain technologies. The development team for this
blockchain payment service will be led by Dominic da Assuncao, senior business
systems consultant and full-stack software engineer whose background includes:
international business, operations and computer systems management, and
computer games programming. Since 1991, Dominic has delivered world-class
shrink wrap software, as well as customized ERP systems, multi-media
applications, and internet enabled auction and medical systems. At present
Dominic is engaged in upgrading a major clinical system, operating at a
prominent Canadian hospital, using blockchain technology (see Upco’s November
27, 2017 press release).
-
listed
its common shares for trading on the Frankfurt Stock Exchange (Deutsche Boerse AG) under
the symbol WKN A2H7JC (U06) (see Upco’s
November 29, 2017 press release).
-
Appointed
Mr. Don Blackadar as the Blockchain Payment Application Project Lead. He will work closely with Mr. Dominic da
Assuncao, who is the head of the Blockchain development team, in handling
Blockchain project planning and coordination, documentation and testing /
quality assurance activities (see Upco’s
December 4, 2017 press release).
-
Upco app available on the Google Play store. Upco’s App
is similar to SKYPE and WhatsApp, that will enable fully secure communications,
and social media, namely connecting users and sharing pictures, locations,
international airtime top up, International and national calls and chatting
(see Upco’s December 8, 2017 press release).
-
Commenced development of its E-Wallet to support
Cryptocurrencies such as Bitcoin and Ethereum using Blockchain Technology (see
Upco’s December 20, 2017 press release).
Outook
-
Upco’s goals for
2018 is to continue to build out its professional sales team in order to market
its current services and the Upco App to increase revenues and profitablility.
-
Upco will continue to focus on successfully integrating
leading-edge blockchain technologies into its E-wallet payment system as a step
towards the development of a full-featured international
invoice/payment/exchange/transfer system for hard currencies and
invoice/payment/transfer for cryptocurrencies. Upco’s blockchain implementation
significantly moves Upco towards demonstrating Upco’s Blockchain technology’s
ability to maintain reasonable transaction time and rates as expected from main-streamed
payment application, but without the cost of resources associated with bitcoins
and other cryptocurrencies. Upco
has developed a distributed platform using Blockchain Technology and
transactions can be confirmed almost instantaneously on our system, while it
can take minutes or hours to confirm Cryptocurrency transactions on current
existing systems.
Mr. Jag Sandhu
has resigned from the Board of Directors.
He will continue to work with Upco as Manager of Corporate
Development. The Board of Directors have
thanked Mr. Sandhu for his contribution to the Company and look forward to
working with him in his new role.
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
Neither the Canadian Securities
Exchange nor its regulation services provider has reviewed or accepted
responsibility for the adequacy or accuracy of the content of this news
release.
Forward-Looking Statements
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, and that actual results
may differ materially from those in forward-looking statements.
Upco
International Inc. (CSE: UPCO)
is a featured company on
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