TMCnet News

EZTrader Seeks to Re-quote its Shares on the OTCQB Market and Reports Significant Revenue Growth in the First Half of 2014
[September 16, 2014]

EZTrader Seeks to Re-quote its Shares on the OTCQB Market and Reports Significant Revenue Growth in the First Half of 2014


NEW YORK --(Business Wire)--

EZTrader Inc. ("EZTrader" or the "Company") (OTCPINK SYMBOL WGMI), a worldwide leader of online binary options trading, reports a five-fold increase in total revenues for the six months ended June 30, 2014 to $7.95 million from $1.52 million for the period of six months ended June 30, 2013. Additionally, the Company announced that it has filed documentation with the U.S. Securities & Exchange Commission (SEC (News - Alert)) to register its shares of common stock with the SEC to later allow re-quotation of such shares on the OTCQB market.

Financial Highlights for the six-month ended June 30 2014

  • Significant growth in revenue to $7.95 million, in the first six months of 2014 (H1 2013: $1.52 million)
  • EBITDA excluding Stock Based Compensation and non-recurring expenses for the first six months of 2014 reflected a loss of $226K compared with an EBITDA loss of $2.76 Million for the year ended December 31, 2013
  • Raised $3.94 million in May 2014 at a price of $0.50 per share reflecting the growth and developing business
  • Cash and cash equivalents at June 30, 2014 were $6.95 million (June 30, 2013: $0.17 million)

"Internationally, we are seeing an increased interest in binary options as a popular type of global trading tool," said Shimon Citron, Chief Executive Officer of EZTrader. "Customers will continue to favor regulated online trading providers with a global reach. We continue to enhance and develop our existing trading platform to anticipate market trends and customer expectations."

In March 2014, the Cyprus Securities and Exchange Commission ("CYSEC") authorized EZTrader to provide its services in all European Union (EU) member states. To comply with U.S. federal securities laws and U.S. Commodity Futures Trading Commission ("CFTC") regulations, EZTrader blocks U.S. and Canadian persons from using its trading platform.

EZTrader's investment in marketing and advertising in Europe with targeted and cost-effective efforts includes both online and off-line media channels, affiliate programs and sponsorships. The Company recently entered into strategic partnerships with Germany and Netherlands' premier soccer clubs, Bayer 04 Leverkusen and Feyenoord Rotterdam.

Te Company has seen a measurable increase in new customers driven by its enhanced brand visibility. In the first half of 2014, EZTrader had record customer growth with an increase of 145% to 7,854 new customers, up from 3,200 in H1 2013. This trend has continued and the company attained 6,660 new customers in July and August of 2014.



Commenting on decision to re-register with the SEC and seek quotation of EZTrader's shares on the OTCQB market, Mr. Citron said, "Our growth strategy focuses on operating in fully regulated markets only, where greater awareness of binary option trading delivers significant results. We are on a solid strategic path and working to get our shares quoted again on the OTCQB is another important step that will bring increased visibility worldwide."

Binary option trading is being offered on http://www.eztrader.com by WGM Services Ltd., a wholly owned subsidiary of the Company, registered in Cyprus and authorized by the Cyprus Stock Exchange Commission (CySEC). EZTrader offers one of the binary options trading websites with self-developed proprietary technology, unlike most of its competitors that rely on third-party software providers. With its trading platform, the Company incurs no external license fees and can manage its modular server architecture designed to maximize trade reliability, speed and network security across the network. In addition, EZTrader operates through a number of different scalable servers, so that if one or more should fail, the remaining servers are in a position to maintain the operations.


About EZTrader

EZ trader is one of the pioneers of online binary trading and maintains its position as a leading, reputable and reliable binary options platform. EZTrader.com is currently available in more than 11 languages and offers more than 120 trading assets including currencies, stocks and indices. The Company is growing rapidly and continues to seek exciting opportunities to further enhance its presence throughout Europe. With a robust and reliable platform and leading mobile app technology, EZTrader.com is one of the most popular and advanced online binary option trading platforms. EZTrader.com is operated by WGM Services Ltd., a wholly owned subsidiary of the Company, registered in Cyprus and authorized by the Cyprus Stock Exchange Commission (CySEC).

Safe Harbor Statement

This press release contains forward-looking statements. In some cases these forward-looking statements can be identified by the use of forward-looking terminology, including the terms "believes," "estimates," "anticipates, "expects," "plans," intends," "may," "could," "might," "will," "should," "approximately," "potential," or in each case, their negative or other variations thereon or comparable terminology, although not all forward-looking statements contain these words. For example, we are using forward looking-statements when we discuss that customers will continue to favor regulated online trading providers with a global reach, or continuing to enhance and develop our existing trading platform to anticipate market trends and customer expectations, or when we discuss getting our shares quoted again on the OTCQB and how this step will bring increased visibility worldwide or that we continue to seek exciting opportunities to further enhance our presence throughout Europe. These forward-looking statements and their implications are based on the current expectations of the management of EZTrader Inc. ("EZTrader") only, and are subject to a number of factors and uncertainties, many of which are beyond the control of EZTrader, and cannot be predicted or quantified and consequently, actual results may differ materially from those expressed or implied by such forward-looking statements. EZTrader undertakes no obligation to publicly release any revisions to these forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events. For a more detailed description of the risks and uncertainties affecting EZTrader, reference is made to the heading "Risk Factors" in EZTrader's registration statement on Form 10 filed with the Securities and Exchange Commission.


[ Back To TMCnet.com's Homepage ]