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FDCTECH INC (symbol: FDCT) is based in New York and is a leading technology provider of Foreign Exchange Prime Brokerage (FXPB) and cryptocurrency solutions. Supported by a development team with over three decades of FX experience, FDCTECH's customizable B2B offerings allow brokers of all sizes to license its technology for seamless Metatrader 4 integration, advanced profitability analytics in real-time, flexible Introducing Broker (IB) rebate structures, and allotment of custom development hours to provide unparalleled customer service and individualized platform solutions.
Founder, Chief Executive Officer, and Director of FDCTECH INC, Mitch Eaglstein, is primarily responsible for leading the development and execution of the company's long-term strategy. His main focus is to enhance shareholder value by ensuring the company has the necessary organizational and technology infrastructure, deploying capex, and approving.
FDCTech, Inc. (FDCT) has successfully acquired a 50.10% equity interest in New Star Capital Trading Ltd. and its subsidiary, NSFX Ltd., a Malta-regulated online trading brokerage. The acquisition expands FDCT's portfolio in digital financial services, leveraging NSFX's capabilities in margin trading across various financial assets. NSFX, authorized to operate as a market maker, is set to enhance FDCT's operational infrastructure. The acquisition draws on NSFX's audited financials, indicating minimal liabilities, which could strengthen FDCT's financial standing in the competitive fintech landscape.
FDCTech reported significant growth in revenue for the nine months ended September 30, 2022, with a remarkable increase of 1,980% compared to the previous year, totaling $4,597,097. Despite this growth, the company incurred a net loss of $1,002,849, although the net loss as a percentage of revenue decreased from 442.50% to 21.81%. Cash reserves improved to $246,064 from $93,546 at the end of 2021. FDCTech also announced plans to acquire an 80% equity interest in CIM Securities, marking a strategic move to expand its operations.
FDCT, a fintech company focused on integrating small to mid-size legacy financial services, reported remarkable revenue growth of 1,985% year-over-year for the first half of 2022, totaling $3,066,971. Despite this growth, the company incurred a net loss of $748,918, although the loss as a percentage of revenue decreased from 331.49% to 24.42%. Cash on hand rose to $134,888, and total stockholders' equity decreased to $1,149,816. The company aims to pursue strategic acquisitions in late 2022.
FDCTech, Inc. (FDCT) announced a letter of intent to acquire an 80% equity interest in CIM Securities, an investment bank generating $2.51 million in revenue in 2021. This acquisition aligns with FDCT's growth strategy through mergers and acquisitions and aims to establish a U.S.-based financial services firm within its portfolio. The deal is subject to regulatory approvals, with a closing expected in Q4 2022. This move could enhance FDCT's capabilities in offering integrated financial solutions.
FDCTech, Inc. reported a 2,294.79% revenue increase, totaling $1,541,122 for Q1 2022, primarily due to the acquisition of AD Advisory Services Pty Ltd. The company's net loss rose to $389,196, up from $221,838 in Q1 2021. Cash on hand increased to $297,643 from $93,546 due to a $550,000 promissory note. Total stockholders' equity fell to $1,515,708. The company aims to leverage market opportunities for further acquisitions amidst a steady demand for financial advice.
FDCTech, Inc. (OTCQB: FDCT) has partnered with Freedom Holdings, Inc. (OTC: FHLD) to develop a Blockchain-based Carbon Credit Ecosystem. This initiative aims to enhance liquidity, transparency, and accessibility in voluntary carbon markets. The ecosystem will feature protocols for minting and burning carbon credits as digital tokens, and a trading venue to engage various stakeholders in the carbon credit market. The partnership signifies FDC's capabilities in creating integrated blockchain solutions, supporting FHLD's goal to drive a carbon-neutral economy.
FDCTech has announced its acquisition of AD Advisory Services Pty Ltd. (ADS), gaining a 51% equity stake valued at approximately $3.15 million. This transaction is expected to boost annualized revenue to $5.91 million and provide access to the $2.1 trillion Australian wealth management market.
With $540 million in funds under management and 28 licensed advisers, the acquisition will leverage both FDCTech's software capabilities and ADS's client-centric advisory services to enhance digital wealth management offerings.
FDCTech, Inc. (OTCQB: FDCT) announced a partnership with Jerome Baker Designs to develop an NFT platform, enabling unique digital art and physical assets to be minted on the Ethereum blockchain. This collaboration is set to launch in early Q1 2022, with auctions for original works by Jason Harris. Jerome Baker Designs is recognized as a leading brand in artistic glass, having received accolades like the 2018 High Times Cannabis Cup and catering to celebrities. The partnership aims to democratize access to digital collectibles while leveraging FDCT's financial technology expertise.
FDCTech, Inc. (OTCQB: FDCT) has announced the integration of its Condor Multi-asset Trading Platform with Binance, the leading cryptocurrency exchange by trading volume. This integration enables brokerage firms to access Binance's liquidity and trade various financial assets, including cryptocurrencies, through a single account. Additionally, firms can offer leveraged trading and customize bid/ask spreads. According to CEO Mitchell M. Eaglstein, this move addresses the increasing demand for both established cryptocurrencies and emerging digital assets, including NFTs.
FDCTech, Inc. has terminated its Stock Purchase Agreement with Genesis Financial due to Genesis's inability to comply with material provisions. The agreement, dated June 2, 2021, could not be completed as several requirements were unmet, including lien releases and other disclosures. Following this, Mr. Warwick Kerridge was relieved of his role as Chairman, with former Chairman Mr. Eaglstein taking over as interim Chairman. Despite the setback, the CEO remains optimistic about future acquisitions to enhance shareholder value.