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GINSMS Announces Financial Results for the Three Months Ended March 31, 2016


/EINPresswire.com/ -- CALGARY, ALBERTA -- (Marketwired) -- 05/12/16 -- GINSMS Inc. (TSX VENTURE: GOK) (the "Company") has announced its financial results for the first quarter ended March 31, 2016.

The complete financial results for GINSMS are available at www.sedar.com. Highlights include:


--  Revenue of $1,661,412 for the three month period ended March 31, 2016 as
    compared to $823,548 for the three month period ended March 31, 2015.


--  Gross Profit of $267,401 for the three month period ended March 31,2016
    respectively as compared to gross deficit of $49,118 for the three month
    period ended March 31, 2015.


--  Operating expenses and finance costs decreased from $4,442,092 for the
    three month period ended March 31, 2015 to $466,274 for the three month
    period ended March 31, 2016.


--  Net loss of $199,403 for three month period ended March 31, 2016 as
    compared to a net loss of $4,364,482 for the three month period ended
    March 31, 2015.


--  The cloud-based application-to-person messaging service (the "A2P
    messaging") that was introduced in March 27, 2014 has generated revenue
    of $1,405,400 for the three month period ended March 31, 2016.

Selected Profit and Loss Information


----------------------------------------------------------------------------
                     Three-month   Three-month    Nine-month  Twelve-month
                    period ended  period ended  period ended  period ended
                        March 31      March 31   December 31      March 31
Financial Highlights (Unaudited)   (Unaudited)     (Audited)     (Audited)
----------------------------------------------------------------------------
                            2016          2015          2015          2015
Revenues $
A2P Messaging
 Service               1,405,400       627,535     3,069,374     1,117,613
IOSMS Messaging
 Service                       -        12,598             -        34,820
Software Products &
 Services                256,012       183,415       819,316       754,034
                    --------------------------------------------------------
                        1661,412       823,548     3,888,690     1,906,467
                    --------------------------------------------------------

Cost of sales $
A2P Messaging
 Service               1,209,744       582,240     2,792,424     1,037,629
IOSMS Messaging
 Service                       -        14,218             -        87,061
Software Products &
 Services                184,267       276,208       667,002       736,987
                    --------------------------------------------------------
                       1,394,011       872,666     3,459,426     1,861,677
                    --------------------------------------------------------
Gross profit $
A2P Messaging
 Service                 195,656        45,296       276,950        79,984
IOSMS Messaging
 Service                       -        (1,620)            -       (52,241)
Software Products &
 Services                 71,745       (92,793)      152,314        17,047
                    --------------------------------------------------------
                         267,401       (49,118)      429,264        44,790
                    --------------------------------------------------------
Gross margin %
A2P Messaging
 Service                    13.9%          7.2%          9.0%          7.2%
IOSMS Messaging
 Service                       -         (12.9)%           -        (150.0)%
Software Products &
 Services                   28.0%        (50.6)%        18.6%          2.3%
                    --------------------------------------------------------
                            16.1%         (6.0)%        11.0%          2.3%
                    --------------------------------------------------------

Adjusted EBITDA(1)
 $Adjusted EBITDA         42,883     (386,866)     (904,932)   (1,246,772)
 margin                      2.6%        (47.0)%       (23.3)%       (65.4)%
----------------------------------------------------------------------------
Net loss $             (199,403)   (4,364,482)   (2,432,182)   (6,775,846)
Net loss margin            (12.0)%      (530.0)%       (62.5)%      (355.4)%
----------------------------------------------------------------------------
Loss per share $
----------------------------------------------------------------------------
  Basic                    (0.00)        (0.07)        (0.03)        (0.13)
----------------------------------------------------------------------------
  Diluted                  (0.00)        (0.07)        (0.03)        (0.13)
----------------------------------------------------------------------------
(1) Adjusted EBITDA is a non-GAAP measure related to cash earnings and is
    defined for these purposes as earnings before income taxes, depreciation
    and amortization (in both cost of sales and general and administration
    expenses), interest expenses, the accretion on obligations and also
    excludes certain non-recurring or non-cash expenditure.

About GINSMS

GINSMS is a mobile technology and services company focusing on 2 areas namely its A2P Messaging Service and its Software Products and Services. GINSMS operates a cloud-based A2P messaging service that allows the termination of SMS to mobile subscribers of more than 200 mobile operators globally. GINSMS also develops and distribute innovative software products and services for mobile operators and enterprises and have successfully deployed more than 100 solutions worldwide. GINSMS has offices in China, Singapore, Hong Kong, Malaysia and Indonesia.

Forward-Looking Statements

Certain information included in this press release may contain forward-looking statements. Forward-looking statements generally can be identified by the use of forward-looking terminology such as "may", "could", "will", "expect", "intend", "estimate", "anticipate", "believe", or "continue" or the negative thereof or variations thereon or similar terminology. These statements are not historical facts, but reflect management's current beliefs and are based on information currently available to management regarding future results and events. Particularly, these forward-looking statements are based on management's estimate of future events based on technological advances relating to the Company's services, current market conditions and past experiences of management in relation to how certain contracts will affect revenues. Forward-looking statements, by their very nature, involve significant risks, uncertainties and assumptions.

A number of factors could cause actual results to differ materially from the results discussed in the forward-looking statements, including, but not limited to dependence on major customers, system failures, delays and other problems, increasing competition, security and privacy breaches, dependence on third-party software and equipment, adequacy of network reliance, network diversity and backup systems, loss of significant information, insurance coverage, capacity limits, rapid technology changes, market acceptance, decline in volume of attractions, retention of key members of the management team, success of expansion into Chinese and other Asian markets, credit risk, consolidation of existing customers, dependence on required licenses, economy and politics in countries where the Company operates, conflicts of interest and residency of directors and officers. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended. Although the forward-looking statements contained herein are based upon what management believes to be reasonable assumptions, the Company cannot assure the reader that actual results will be consistent with these forward-looking statements.

In particular, forward-looking statements include the following assumptions:


--  Management's belief that the availability of 3G/4G services in China and
    the rest of the world will continue to create demand for the Company's
    software products and services.


--  Management's belief that the future growth in messaging is in the area
    of A2P Messaging Service and the Company's investment in this area will
    create a viable and profitable business in the future.


--  Management's belief that the Company is able to generate sufficient
    amounts of cash through operations and financing activities to fulfil
    the working capital requirements of its present operations.

These forward-looking statements are made as of the date of this press release and the Company assumes no obligation to update or revise them to reflect new events or circumstances except as may be required by law. Accordingly, readers should not place undue reliance on the forward-looking statements. Forward looking statements are presented in this news release for the purpose of assisting investors and others in understanding certain key elements of our expected fiscal 2016 financial results, as well as our objectives, strategic priorities and business outlook for fiscal 2016, and in obtaining a better understanding of the Company's anticipated operating environment. Readers are cautioned that such information may not be appropriate for other purposes. All forward-looking statements contained in this press release are qualified by this cautionary statement.

NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

Contacts:
GINSMS Inc.
Joel Chin
CEO
+65-6441-1029
investor.relations@ginsms.com