Calpian, Inc. Announces Financial Results for New Fiscal Year 2014
July 24, 2014
Fiscal year changed from December 31 to March 31
Consolidated revenues of $55.3 million for the year ending March
31, 2014; Up $50.9 million
Results include consolidation of one quarter’s results from
Results include consolidation of four quarters of results from
Calpian Commerce (domestic)
Consolidated assets of $48.1 million for the year ending March 31,
Total equity of $15 million for the year ending March 31, 2014
Calpian, Inc. (OTCQB: CLPI), a global mobile payments technology and
processing company, today reported the company’s full year 2014
financial results for the fiscal year ending March 31, 2014, including
for the first time the consolidation of the company’s Indian subsidiary
Money-On-Mobile which had previously been reported as an investment.
"With strong support from our investors, both long standing and new, as
well as our other financial partners and employees, we have been able to
make remarkable progress in advancing Calpian toward its objectives on
all fronts over the past fiscal year," said Harold Montgomery, Calpian
founder and CEO. "Our company has continued to grow and we have strong
opportunities ahead as we expand both domestically and in India through
Revenues – Consolidated revenues were $55.3 million for the year
ending March 31, 2014. Revenues included only the fourth quarter of
Money-On-Mobile which contributed $29.4 million. Revenues also included
a full year of revenue from Calpian Commerce which was acquired in March
2013 and contributed $22.6 million of the total.
Revenue In India – Money-On-Mobile revenues were 8.97 billion
Indian rupees for the full year ending March 31, 2014. However, as
Calpian only achieved majority ownership in the fiscal fourth quarter,
only the fourth quarter’s revenues were consolidated in Calpian’s
financial results. (Note: the Indian Rupee to US Dollar exchange rate on
March 31, 2014 was USD$1: INR 61.2).
Domestic Revenue in the U.S. – Domestic revenues were $25.5
million for the year ending March 31, 2014. Revenues included a full
year of revenue from Calpian Commerce which was acquired in March of
2013, and contributed $22.6 million of the total.
Assets – Consolidated assets were $48.1 million for the year
ending March 31, 2014. Assets included $10.1 million of Calpian Commerce
assets and $15.9 in Money-On-Mobile assets. Also included in
consolidated assets is Calpian’s history-to-date invested capital in the
Money-On-Mobile enterprise added to the consolidated balance sheet as
part of the conversion from the investment accounting method to the
equity accounting method when Calpian acquired majority control.
Equity – Total equity was $15 million for the year ending March
31, 2014, including the reversal of previously passed through losses
from the investment in Money-On-Mobile, which are now reflected as part
of the company’s investment in the Money-On-Mobile enterprise as shown
in the consolidated assets of Calpian.
Cash – Calpian concluded the 2014 fiscal year with a partial
closing of an equity raise led by National Securities on March 31, 2014
that was a primary driver of the company’s increase in cash to $8.0
million at year end.
Webcast and Conference Call Information
Calpian will host a conference call to discuss the results at 10 a.m.
CDT / 11 a.m. EDT today. Participants can register for the call and
webcast via the following link: https://prismdigitalmedia.cwebcast.com/ses/94ZYMQLStkvmeuVhFysBDg~~.
Once registered for the call, interested parties will receive the
conference call dial-in information. An archived version of the webcast
will remain on the Calpian, Inc. website’s “Investor
Relations” page following the live webcast.
About Calpian, Inc.
Calpian, Inc. (CLPI) is a global mobile payments technology and
processing company offering mobile payment services through Indian
subsidiary Money-On-Mobile and domestic transaction services through
Calpian Commerce. Money-On-Mobile is a mobile payments service provider
that enables Indian consumers to use their mobile phones to pay for
goods and services, or transfer funds from one cell phone to another
using simple SMS text functionality. Calpian Commerce provides the U.S.
merchant community with an integrated suite of payment processing
services and related software products. For more information, visit www.calpian.com.
Note to Investors:
This press release contains certain forward-looking statements based on
our current expectations, forecasts and assumptions that involve risks
and uncertainties. This release does not constitute an offer to sell or
a solicitation of offers to buy any securities of any entity.
Forward-looking statements in this release are based on information
available to us as of the date hereof. Our actual results may differ
materially from those stated or implied in such forward-looking
statements, due to risks and uncertainties associated with our business,
which include the risk factors disclosed in our Form 10-K filed on March
31, 2014. Forward-looking statements include statements regarding our
expectations, beliefs, intentions or strategies regarding the future and
can be identified by forward-looking words such as "anticipate,"
"believe," "could," "estimate," "expect," "intend," "may," "should," and
"would" or similar words. Any forecasts that are provided by management
in this presentation and are based on information available to us at
this time and management expects that internal projections and
expectations may change over time. In addition, the forecasts are
entirely on management’s best estimate of our future financial
performance given our current contracts, current backlog of
opportunities and conversations with new and existing customers about
our products. We assume no obligation to update the information included
in this press release, whether as a result of new information, future
events or otherwise.