Ackroo achieves back to back record quarters
OTTAWA, Jan. 15, 2016 /CNW/ - Ackroo Inc. (TSXV: AKR), (OTC: AKRFF), a gift card, loyalty and rewards technology and services provider, is pleased to report unaudited record revenues of $588,641 for the period ending December 31st 2015. This represents a 68% increase over the same period a year earlier and 13% growth over the previous quarter. For the year ended December 31st 2015, the Company expects to report unaudited annual revenues of approximately $1,810,053, a 36% increase over the previous year.
"The Company's record quarter and annual revenue results further validate our growth strategy and our ability to execute" said Steve Levely, chief executive officer at Ackroo. "During the quarter we delivered substantial organic growth with the addition of both new customers and through upselling current customers, allowing us to drive significant year over year and quarter over quarter growth. We continued to further enhance our product offering, further developed our channel partnerships and completed the bulk of the operational integration of Dealer Rewards Canada. All of these achievements allowed us to deliver our best quarter and best year in Company history. Based on these results, the Company has delivered a 3 year average growth rate of 43% and is poised for continuous growth in 2016."
Ackroo also announces the engagement of Torrey Hills Capital, a Rancho Sante Fe, California-based investor relations firm specializing in North American small and micro-cap companies, to provide market awareness and investor relations services to the Company. Torrey Hills Capital has been engaged for a ninety day term and will be entitled to receive a monthly fee of $5,000 US plus pre-approved out-of-pocket expenses. The appointment of Torrey Hills Capital as an investor relations consultant is subject to the approval of the TSX Venture Exchange.
The Company cautions that figures for revenue have not been audited. Actual results may differ materially from those reported in this release once these figures have been audited. The Company expects to complete its 2015 audit in March to confirm revenue figures, along with other financial results.
Ackroo provides gift card and loyalty solutions into the $160 billion North American gift card and loyalty market. Their solutions enable businesses, merchants and business networks to increase profitability and build long-term customer relationships through customized gift card and loyalty programs. Ackroo's web-based solutions provide the power of a massively scalable software platform in a lightweight online tool that works with existing point-of-sale equipment, making it easy and affordable for businesses to launch gift card & loyalty programs that deliver immediate return on investment. Ackroo is headquartered in Ottawa, Canada. For more information, visit: www.ackroo.com.
The TSX Venture Exchange has neither approved nor disapproved the contents of this press release. Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward Looking Statements
These forecasts and forward-looking statements are not guarantees of future performance and activities and are subject to risks and uncertainties. The company has based these forward-looking statements on assumptions and assessments made by its management in light of their experience and their perception of historical trends, current conditions, expected future developments and other factors they believe to be appropriate. Important factors that could cause actual results, developments and business decisions to differ materially from those anticipated in these forward-looking statements include, but are not limited to: the company's ability to raise enough capital to support the company's go forward plans; the overall global economic environment; the impact of competition and new technologies; general market, political and economic conditions in the countries in which the company operates; projected capital expenditures and liquidity; changes in the company's strategy; government regulations and approvals; changes in customers' budgeting priorities; plus other factors that may arise. Any forward-looking statements in this press release are made as of the date hereof, and the company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.
SOURCE Ackroo Inc.
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For further information: Steve Levely, Chief Executive Officer | Ackroo, Tel: 613-599-2396 x730, Email: [email protected]