GBT Technologies Inc (GTCH)

[HunterSwift]

NEWS June 9th.

NEW YORK--(BUSINESS WIRE)-- Forex International Trading Corp. (the "Company") (OTCBB:FXIT.ob - News), today released a Shareholder Update.

Following the company’s conference call, the company has received numerous calls from shareholders who were unable to attend. The following represents excerpts from the call:

Consolidated Financial Results First Quarter 2011 (unaudited)

Total Revenue

$3,178,233

Gross Profit

$2,590,633


Operating Expenses

$2,616,907


Depreciation

$154,891

Operating Expenses w/out

$2,462,016

Depreciation

EBITDA

$128,617

Just to put these numbers in perspective, our consolidated year end numbers which can be found in our annual report on Form 10-K Note 3 showed Total Annual Revenue of $7,599,093. So in the first quarter, we experience approximately 42% of the revenue experienced for all of 2010 while spending only about 36% of the marketing budget for 2010. These numbers were all accomplished while Triple 8 Limited moved to a new bigger location. Below are additional highlights for Triple 8 Limited:


• Trading Volume for the quarter was just over 9 Billion compared with approximately 3.5 Billion in the first quarter of 2010.
• Average Trades per Month – over 42,000 trades in the quarter compared with just over 21,000 trades in Q1 2010.
• Revenue per Million of Trading Volume $353.86
• Deposits per Marketing Dollars spent $2.88
• Revenue per Marketing Dollars spent $2.57
• Current Marketing spend per month approximately $400,000


According to the Aite Group (Financial Services research Firm), the industry has grown from an estimated 6 Billion in Daily Trading Volume in 2001 to an estimated 313 Billion in daily trading volume in 2010 and the number of traders worldwide is up to over 8 million traders.


In looking at our industry, we still see a significant number of new traders coming into the marketplace over the next 3 to 5 years. According to Aite, the online investor universe worldwide is estimated at 110 million so FOREX traders now only represent approximately 7 to 8 % of the online trading marketplace.


Our goal for the company is to continue to grow organically and through acquisitions.


We believe Triple’s existing platform is currently positioned to attract first time traders who are comfortable trading online and we are currently marketing to non-US Customers, which represent approximately 75% of the market according to International Bank of Settlements. Following the first quarter, Triple is on target to reach our projected revenue of approximately $15 million.

In addition, the script from the call can be found as an exhibit to our Form 8-K filing on May 25, 2011.


Forex International Trading CEO Darren Dunckel commented “It is our goal to provide our shareholders and the investment community as much information as can be released. As a company, educating investors is an important part of our core business. Information is a key component of that education process. Therefore, we continue to strive to release information that will help investors evaluate our company.”


About Forex International Trading Corp.


Headquartered in New York, NY, Forex International Trading Corp. operates an offshore advanced online trading platform for Forex markets to non U.S. residents. The Company focuses on providing individual and institutional investors with a platform for buying and selling currencies, precious metals and commodity futures. The company’s platforms allow self-directed, broker-assisted, and managed accounts. Through the platforms, customers have access to over 20 currencies and bullion deliveries. The Foreign Currency Market ("Forex" or "FX") is created by the global exchange of currencies. According to the Bank for International Settlements, the average daily turnover, or, volume in the Global FX market in April 2010 was $4 Trillion compared to only $1.2 Trillion in 2001 (Wall Street Journal, Sept. 1, 2010). Historically, access to the FX market was only available to governments, commercial banks, corporations, and other large financial institutions. The Company is now capitalizing on the growth of online currency trading through its state of the art web-based trading platforms.



For more information, please visit: http://www.forex-international-trading.com.



Forward-Looking Statements: This press release contains forward-looking statements, including expected industry patterns and other financial and business results that involve known and unknown risks, uncertainties and other factors that may cause our actual results, levels of activity, performance or achievements to differ materially from results expressed or implied by this press release. Such risk factors include, among others, whether Forex International Trading Corp. can successfully execute its operating plan; its ability to integrate acquired companies and technology; its ability to retain key employees; its ability to successfully combine product offerings and customer acceptance of combined products; general market conditions; and whether Forex International Trading Corp. can successfully develop new products and the degree to which these gain market acceptance. Actual results may differ materially from those contained in the forward-looking statements in this press release. Forex International Trading Corp. does not undertake any obligation to update or revise forward-looking statements to reflect changed assumptions, the occurrence of unanticipated events or changes to future operating results.