Vancouver, BC, May 28, 2019, Upco International Inc. (CSE: UPCO) (OTCQB: UCCPF) (FSE: U06) (“Upco”) is pleased to it has filed its consolidated financial statements and Management’s Discussion and Analysis for the first quarter ended March 31, 2019. These documents can be accessed from the SEDAR web site at www.sedar.com.
Upco reported revenues US$267,296 (2018 – US$709,372) and a net loss of US$275,462 (2018 – net income of US$10,514) for its first quarter ended March 31, 2019.
Highlights for the quarter:
- Registered with the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC). FINTRAC is Canada’s financial intelligence unit (FIU), providing financial intelligence and compliance functions necessary to ensure the safety of Canadians and the protection of the integrity of Canada’s financial system.
- Signed its first agreement with SixthContinent Inc. sixthcontinent.com. SixthContinent, with offices in San Francisco, Ca, and Milan, Italy, is the largest international platform for Shopping Cards. The company has agreements with more than 3000 leading brands (including Walmart, Apple, Amazon, Carrefour, and IKEA, Adidas and Shell Oil), and is fast becoming a major player in the expanding Social Commerce market.
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
212 461 3676
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.
Except for the statements of historical fact, the information contained herein is of a forward-looking nature. Such forward-looking information involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievement of the Company to be materially different from any future results, performance or achievements expressed or implied by statements containing forward-looking information. Such factors include continued availability of capital and financing and general economic, market or business conditions.
Although the Company has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that statements containing forward-looking information will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on statements containing forward-looking information. Readers should review the risk factors set out in the Company’s Filing Statement as filed on SEDAR.