$ADGO DENVER, CO., May 21, 2018 (GLOBE NEWSWIRE) -
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Posted On: 05/22/2018 10:53:13 AM
$ADGO DENVER, CO., May 21, 2018 (GLOBE NEWSWIRE) -- Advantego Corporation (OTC PINK: ADGO) today announced financial results for the first quarter ending March 30, 2018 with revenue of $43,977, a net loss of $243,836, equal to a loss of two cents per share, based on weighted average common shares outstanding of 15,524,531 (basic and diluted). There were no comparable results for the similar three-month period in 2017 since operations only commenced in mid-2017.
“We more than doubled sales from the fourth quarter of 2017 and recorded a gross profit of $13,738 as our Business Software as a Service (BPaaS) product lines began to make an impact in the market place for digital communications,” according to CEO Robert W. (Rob) Ferguson.
“During the first quarter, we made great strides in establishing solid ground to embark on our new corporate identity and business plan,” Ferguson pointed out. “In the ensuing months, we expect to capitalize on a number of strategic alliances that we have recently announced to open more markets for our products and services and to continue on an upward trajectory,” he said.
Reviewed, unaudited financial statements for the first quarter of 2018 are available on the Company’s website: www.advantego.com.
About Advantego Corporation
Advantego Corporation (OTC PINK: ADGO) designs, develops and implements digital communications and intelligent software solutions as a specialized Business Process as a Service (BPaaS). The Company’s products and services are provided through its wholly-owned operating subsidiary, Advantego Technologies Inc., which leverages its proprietary “Intelligent Solution Platform.” This platform combines existing data and systems and integrates “best in class”, third-party technologies to provide a comprehensive, managed solution that significantly enhances internal operations and marketing efficiency. These elite, custom business solutions are available to large enterprises, affiliate networks and franchise operators as all-inclusive, managed bundled services. The Company also offers a variety of stand-alone products specific to targeted industries. Website: www.advantego.com.
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“We more than doubled sales from the fourth quarter of 2017 and recorded a gross profit of $13,738 as our Business Software as a Service (BPaaS) product lines began to make an impact in the market place for digital communications,” according to CEO Robert W. (Rob) Ferguson.
“During the first quarter, we made great strides in establishing solid ground to embark on our new corporate identity and business plan,” Ferguson pointed out. “In the ensuing months, we expect to capitalize on a number of strategic alliances that we have recently announced to open more markets for our products and services and to continue on an upward trajectory,” he said.
Reviewed, unaudited financial statements for the first quarter of 2018 are available on the Company’s website: www.advantego.com.
About Advantego Corporation
Advantego Corporation (OTC PINK: ADGO) designs, develops and implements digital communications and intelligent software solutions as a specialized Business Process as a Service (BPaaS). The Company’s products and services are provided through its wholly-owned operating subsidiary, Advantego Technologies Inc., which leverages its proprietary “Intelligent Solution Platform.” This platform combines existing data and systems and integrates “best in class”, third-party technologies to provide a comprehensive, managed solution that significantly enhances internal operations and marketing efficiency. These elite, custom business solutions are available to large enterprises, affiliate networks and franchise operators as all-inclusive, managed bundled services. The Company also offers a variety of stand-alone products specific to targeted industries. Website: www.advantego.com.
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