$$$NEWS$$$ On March 16, 2015 IGEX announced an I
Post# of 301
Posted On: 12/17/2015 2:20:42 PM
$$$NEWS$$$
On March 16, 2015 IGEX announced an Introducing Broker Agreement with Yellow Octopus a marketing and sales distribution company, based in Singapore, with access to China, Indonesia and Malaysia. At that time, the Company said it would start marketing IGEX SuperTrader to its partners in April 2015. After the first six-months, Yellow Octopus is well on track to achieve $6,000,000.00 in funds under management, as well as recurring revenues of over $520,000.00 in recurring revenue for IGEX. At this level, IGEX could be breakeven, since the current burn rate has been reduced by 40% to $25,000.00, as a result of management cost-savings.
CEO, John O'Shea said, "Reducing costs and increasing recurring revenues has been the cornerstone of our business plan. As we form additional strategic partnerships and roll-out new products, we expect our revenues will continue to increase." Mr. O'Shea continued, "We believe IGEX offers more trading platforms than any other provider in Asia and we make it a point to put our partners and customers first in everything we do."
On March 16, 2015 IGEX announced an Introducing Broker Agreement with Yellow Octopus a marketing and sales distribution company, based in Singapore, with access to China, Indonesia and Malaysia. At that time, the Company said it would start marketing IGEX SuperTrader to its partners in April 2015. After the first six-months, Yellow Octopus is well on track to achieve $6,000,000.00 in funds under management, as well as recurring revenues of over $520,000.00 in recurring revenue for IGEX. At this level, IGEX could be breakeven, since the current burn rate has been reduced by 40% to $25,000.00, as a result of management cost-savings.
CEO, John O'Shea said, "Reducing costs and increasing recurring revenues has been the cornerstone of our business plan. As we form additional strategic partnerships and roll-out new products, we expect our revenues will continue to increase." Mr. O'Shea continued, "We believe IGEX offers more trading platforms than any other provider in Asia and we make it a point to put our partners and customers first in everything we do."
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