Next Group Holdings, Inc.
Next Group Holdings, Inc. (OTCQB: NXGH), a FinTech service provider delivering mobile banking, prepaid debit and credit and telecommunications services to underbanked and underserved communities, announced record revenue for fiscal year (FY) 2017 reaching more than $53.8 million, a more than 52-fold increase over revenue for FY2016. The gross profit for FY2017 was $2.4 million, versus a gross loss of $31,000 for FY 2016. The results for FY2017, which ended December 31, 2017, were posted in the company's most recent Form 10-K. The Company's 2018-Q1 Report on Form-10Q has also been submitted and shows revenues of $20.0 million compared to 2017-Q1 revenue of $0.5 million. Net Income before non-controlling interest for the three months ended March 31, 2018 was $1.5 million compared to a loss of $1.7 million for the same period in 2016.
The company is expecting to reach 1 million customers during 2019 which would bring the total revenue for the group to $200 Million dollars.
An application has been submitted to FINRA to issue a new symbol along with a reverse share split to allow NXGH to meet the requirement to up list to NASDAQ.
Net income 2018 1Q $1,523,753