Short Term Trading Weekend Lounge: 24-26 May, page-24

STTCOMP FTC FA LONG

FTC - Fintech (China & Singapore)

SOI: 650 Million shares
MC = $110 Million. ( @.17c )
Cash: RMB$2.2 Million
Share Price = 0.17c

FTC expects RMB 7 million in customer receipts under existing and recently secured T-Linx contracts in the current quarter which will cover estimated RMB6m cash outgoings for this quarter.As disclosed in Note 2 to FTC’s March 2019 Appendix 4C, no further one-off costs will be incurred under the Company’s blockchain technology development program as it is complete. It is expected increased revenue will be generated from FTC’s blockchain technology use under recently secured contracts.It is further expected that the success of FTC’s T-Linx rollout and resulting increased daily transaction volumes will underpin the Company’s future revenue.

The agreement, executed on Saturday 26th May 2018, has an initial term of 12 months which will allow both FTC and Zipper to consider on anniversary date how best to position the then future co-operation between both parties.During the first 12 month term FTC will derive service fee income of RMB20 million, the largest fee earning contract it has negotiated in its short operating history.“Confirmation of our agreement with Zipper means our business in the blockchain sector has officially commenced in ernest.This expansion and recognition of our overall blockchain technology services and solutions reinforces FTC’s market position in Fintech industry and our long-term strategy.” FTC Chairman Mr Xiong said today.

Zipper deal expected to be renewed this coming week, was worth $4.2 Million Aud to FTC last year. Would expect to see a significant rerate on renewal of the Zipper Blockchain deal in Singapore.