NETE 10-Q What A CASH COW.
Look at these Points.
Three months ended June 30, 2016
Net revenues $10,403,932 North America Transaction Solutions!!!!!
Six months ended June 30, 2016
Net revenues $18,256,581 North America Transaction Solutions!!!!
Our combined businesses processed 84.7 million transactions for the six months ended June 30, 2016 as compared to 64.2 million transactions processed for the six months ended June 30, 2015. The increase of 20.5 million transactions processed was primarily due to a 17.1 increase from North America Transaction Solutions.
We processed $893 million in payments for the six months ended June 30, 2016 as compared to $506 million in payments, on a constant dollar basis, for the six months ended June 30, 2015.
We reported a net loss attributable to common stock of $7,194,167 or $0.63 per share, for the six months ended June 30, 2016 as compared to a net loss attributable to common stock of $4,528,690 or $0.95 per share, for the six months ended June 30, 2015. This resulted in a net loss increase of $2,665,477. The primary reason for the increase in the loss over last year’s comparable period is the $2,162,861 charge incurred for a stock price guarantee in connection with the PayOnline acquisition (see Note 9 to the condensed consolidated financial statements), a $531,954 decrease in general and administrative expenses and a $667,386 increase in depreciation and amortization expense. These items are discussed further below.
Net revenues consist primarily of payment processing fees. Net revenues were $24,953,907 for the six months ended June 30, 2016 as compared to $12,447,123 for the six months ended June 30, 2015. Included in mobile solutions revenue for the six months ended June 30, 2016 is $3,472,379 of branded content revenue. The remaining $300,832 is part of service fees revenue.
The increase in net revenues is primarily a result of organic net increases in merchants. In addition, we consolidated online payments revenue for PayOnline and began reporting mobile commerce revenues for branded content in the fourth quarter of 2015.
