Investorideas.com - #Blockchain Stock News: UPCO International Inc. (CSE: UPCO) (OTC: UCCPF) (Frankfurt: U06) Announces First Quarter Results Ended March 31 2018
#Blockchain Stock News:
UPCO International Inc. (CSE: UPCO) (OTC: UCCPF) (Frankfurt: U06) Announces
First Quarter Results Ended March 31 2018
Vancouver, British Columbia - May 11, 2018
(Investorideas.com Newswire) Upco International Inc. (CSE: UPCO)
(Frankfurt: U06) ("UPCO") is pleased to announce it has filed its
consolidated financial statements and Management's Discussion and Analysis for
the first quarter ended March 31, 2018. 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$709,372 (2016 -
US$1,615,180) and a net income of US$10,514 (2016 — net loss of US$608,557) for
its first quarter ended March 31, 2018.
Hightlights for the quarter:
·
Announced significant improvements in its existing
platform and Telecom service offering, through the successful integration of
advanced blockchain technologies in the areas of invoice management (accounts
payable and receivable) and Short Message Service (SMS) communications. These
enhancements are an important element of Upco's vision to leverage the benefits
of blockchain technology in the areas data security and auditability (time
stamped and immutable data), while providing a service that is high performance
and extensible. (see Upco's Febuary 22, 2018 press release).
·
Successfully integrated 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. (see
Upco's Febuary 2, 2018 press release).
·
Appointed Mr. Juan Ramos Taboada as advisor to the
Board of Directors. Mr. Ramos Taboada has extensive experience in building
successful companies. From 2011 to 2015 he was the Chief Operating Officer of
Business Telecommunications Systems (“BTS”). BTS had revenues of $350 million
and he was responsible for world operations. In 2011 Mr. Ramos Taboada was the
strategic advisor for SKYPE for Latin America based in Luxemburg and Buenos Aires.
He was instrumental in helping SKYPE to develop its Latin American footprint.
From 2000 to 2010 Mr. Ramos Taboada was the Vice President Latin America of
iBasis. iBasis is a leading international voice carrier and provider of
value-added services for mobile operators. The company rapidly grew to be one
of the largest carriers of international voice traffic in the world and in 2009
became a subsidiary of Royal KPN N.V., the national carrier of the Netherlands.
(see Upco's January 22, 2018 press release).
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.
ON
BEHALF OF THE BOARD OF DIRECTORS
Andrea
Pagani, CEO and Director
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)
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