Published on : Nov 4, 2022
The increase in nine months of revenue by 1,980% compared to the previous period is due to the successful integration of the wealth management business.
FDCTech, Inc. ("FDC" or the "Company," OTCQB: FDCT), a fintech-driven company specializing in buying and integrating small to mid-size legacy financial services companies, today announced the following results for the quarter ended September 30, 2022, as compared to the corresponding period of last fiscal year:
On July 19, 2022, the Company signed a non-binding letter of intent to acquire eighty percent (80%) equity interest in CIM Securities, LLC ("CIM Securities"), a FINRA and SIPC member firm. On September 30, 2022, the Company paid a $20,000 non-refundable deposit and transferred $180,000 to the escrow account to complete the transaction. The FINRA Rule 1017 requires the Company to file continuing membership applications (CMAs) as it plans to apply for changes in ownership, control, and business operations. The Company expects to file the CMA form by the end of fiscal 2022.