Tag: DragonFinancials

TechFinancials converts loan into Footies
December 03, 2019 BY Valentina Kirilova

TechFinancials to close DragonFinancials, focus business efforts in blockchain applications

Fintech software provider of financial solutions TechFinancials Inc (LON:TECH) announced that they have decided to make substantial adjustments to their operating structure and cost base while seeking to develop its newer blockchain based businesses. The company's 51% owned B2C subsidiary, DragonFinancials has suffered from an increasingly challenging regulatory and business environment, resulting in losses which started in…

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TechFinancials converts loan into Footies
June 20, 2019 BY Valentina Kirilova

TechFinancials announces a 42% YoY decrease in revenues in FY18

Fintech software provider of financial solutions TechFinancials Inc (LON:TECH) announced earlier this week its results for the year ended 31 December 2018, and as expected, they don't look good at all. Financial Highlights Revenues of US$7.8 million (2017: US$13.4 million) a decrease of 42% Blockchain trading technology revenues of US$3.8 million (2017: US$0.24 million) increased…

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TechFinancials converts loan into Footies
November 13, 2018 BY LeapRate Staff

TechFinancials gets $867,000 payout from Asia Binary Options JV

Binary options turned blockchain technology company TechFinancials Inc (LON:TECH) has announced that it will receive in early December an $867,000 dividend payout from its 51% owned joined venture company DragonFinancials. DragonFinancials operates binary options broker websites in China and the Far East, one of the few regions where binary options are still being offered to…

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May 14, 2018 BY LeapRate Staff

TechFinancials issues 12.4M shares worth $2.8M to China binary options JV partners

Binary options brokerage and blockchain technology company TechFinancials Inc (LON:TECH) has announced it that has issued 12.4 million to its joint venture partners in its China binary options business, DragonFinancials. DragonFinancials has been the main revenue generator for TechFinancials for the past year-plus, with the company shutting down its own OptionFair binary options brand and starting…

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TechFinancials sells its holding in MarketFinancials to Proverial Ltd
February 06, 2018 BY LeapRate Staff

TechFinancials cancels sale of OptionFair and Binary Options holdings

Binary options technology and brokerage company TechFinancials Inc (LON:TECH) has announced that it has cancelled the planned sale of its Binary Options holdings, after the buyers were unable to secure the necessary regulatory approvals for the deal by a self-imposed deadline of January 31, 2018. As we reported in late November, TechFinancials came to an…

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TechFinancials converts loan into Footies
December 21, 2017 BY LeapRate Staff

TechFinancials gets another $1.1 million payout from China binary options JV DragonFinancials

It looks like TechFinancials Inc (LON:TECH) isn't done quite yet with the Binary Options business. TechFinancials announced that it has received dividends totaling $1.46 million from two subsidiaries - $1.12 million from its 51% owned joint venture DragonFinancials, which operates a China-focused binary options brokerage business, and $340,000 from its (formerly) fully owned subsidiary MarketFinancials, which provides…

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TechFinancials sells its holding in MarketFinancials to Proverial Ltd
November 24, 2017 BY LeapRate Staff

TechFinancials sells OptionFair binary options brand for $400K as it focuses on Blockchain and Crypto technologies

Binary options technology and brokerage company TechFinancials Inc (LON:TECH) is getting out of the broker side of the business. TechFinancials today announced that it has agreed to sell its CySEC licensed subsidiary B.O. TradeFinancials Limited which operates the OptionFair binary options brokerage brand, as well as another related subsidiary MarketFinancials Limited, to a Cyprus incorporated company called…

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techfinancials
September 01, 2017 BY Valentina Kirilova

TechFinancials releases challenging first half 2017 results

Binary options platform and brokerage group TechFinancials Inc (LON:TECH) has announced its unaudited interim results for the six month period ended 30 June 2017 (H1 2017). Financial Overview: Group Revenues of US$ 6.97m (H1 2016: US$ 9.86m) Core software licencing revenues on standalone basis totalled US$ 3.58m (H1 2016: US$5.82m) The trading platform revenues totalled…

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TechFinancials China binary options
August 02, 2017 BY LeapRate Staff

TechFinancials gets $1 million dividend payout from DragonFinancials China binary options JV

Binary options platform and brokerage group TechFinancials Inc (LON:TECH) has announced that its 51% owned joint venture which focuses on the China and APAC region, DragonFinancials, has declared an interim dividend payout of USD $2 million payable by August 20, 2017, in respect of the six month period ended June 30, 2017. TechFinancials' portion of the dividend will…

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