Source - RNS
RNS Number : 2127H
MySQUAR Limited
06 June 2017
 

6 June 2017

MySQUAR Limited ("MySQUAR" or the "Company")

Revenue Update

MySQUAR, the Myanmar-language social media, entertainment and payments platform whose principal activity is to design, develop and commercialise Myanmar-focused internet-based mobile applications,  is pleased to announce that its month-on-month revenue has been steadily increasing. 

The Company continues to make significant progress in achieving its monetisation targets. Average daily revenue reached USD 7,000 in early June 2017, an increase of 40% from an average of USD 5,000 during the first week of May 2017 (and c.USD 5,500 for the whole of May). The majority of current daily revenue continues to be generated from gaming and mobile payment application development services.

Eric Schaer, CEO of MySQUAR, said: "We are pleased that average daily revenue continues to steadily increase due in part to the strong user reception of our product offerings.  The Company anticipates further monetisation in the upcoming months with additional premium content in MyChat such as dating and the upgraded version of CallHome which was released last Friday offering a pay as you go feature with a digital wallet and the ability to call over 190 countries.  With continued positive revenue progress we remain confident that the business will be operating on a run rate break even basis by or around the end of this month as targeted."

 

For further information:

 

MySQUAR Limited

 

Eric Schaer (Chief Executive)

Tel: +65 6818 6089

Pham Dang Hung (CFO)

 

 

 

SP Angel Corporate Finance LLP

 

Nominated Adviser

Tel:  +44 (0) 203 470 0470

Stuart Gledhill/Soltan Tagiev

 

Beaufort Securities Limited

Broker

Jon Belliss/Elliot Hance

 

Public Relations

Damien McCrystal

 

 

 

 

 

 

 

Tel:  +44 (0) 207 382 8300

 

 

Tel:  +44 (0) 781 677 0758

[email protected]

 

 


This information is provided by RNS
The company news service from the London Stock Exchange
 
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