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Re: Flip post# 11813

Tuesday, 10/17/2017 11:16:57 AM

Tuesday, October 17, 2017 11:16:57 AM

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The Company finalized the acquisition of Miami-based Etelix USA.com back in April 2017. However, the company had been working on the acquisition since Q4 of 2016 and provided 3rd party debt financing to fuel growth starting Q1 of 2017. This financing has allowed Etelix to increase revenue year-over-year by approximately 100% from approximately $4.3M in 2016 to an expected $7.5M in 2017, while also raising EBITDA level from $130,000 in 2016 to an expected $300,000 approximately for 2017.
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