VANCOUVER, British Columbia, April 16, 2018 (GLOBE NEWSWIRE) -- GAR Limited. d/b/a/ Netcoins (“NETC” or the "Company") (CSE:NETC) is pleased to announce that it has now completed over $20 million in Bitcoin, and Altcoin (Ethereum, Ripple, Bitcoin Cash and Litecoin) transactions for its valued customers. Netcoins top line revenue is measured as the purchase or sale of cryptocurrency through our service, either via software or directly via private brokerage.
From a modest start of approximately $33,000 in total sales transactions in January 2017, Netcoins has substantially scaled its business by adding retail locations, private brokerage customers, and the ability to buy and sell Altcoins directly. Netcoins continued expansion has culminated in over $20 million in transactions to date.
“In the blockchain and cryptocurrency market, Netcoins has taken a leadership position as a revenue generating company. We have 3 years of history in product development, and product market fit evaluation. With the addition of our sales and marketing team in Q1 2018, combined with a hardened in-market product and regular feature enhancements, we are in an ideal position to continue growing our top-line revenues aggressively this year,” said Netcoins CEO, Mark Binns. “Hitting the $20 million mark is a great accomplishment, and also just the beginning. We are actively working on opening new geographical markets, and establishing partnerships for large distribution channels much like VoPay has given us in Canada.”
About the Company
The Company is in the business of developing software to better facilitate the purchase and sale of bitcoin for end-users. Netcoins enables the sale of bitcoin through its software at retail outlets, through individual agents and directly to clients purchasing and selling in large quantities.
ON BEHALF OF THE BOARD OF DIRECTORS
Mark Binns, CEO and Director
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Cautionary Statement Regarding “Forward-Looking” Information
This information release contains certain forward-looking information. Such information involves known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from those implied by statements herein, and therefore these statements should not be read as guarantees of future performance or results. All forward-looking statements are based on the Company's current beliefs as well as assumptions made by and information currently available to it as well as other factors. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. Due to risks and uncertainties, including the risks and uncertainties identified by the Company in its public securities filings, actual events may differ materially from current expectations. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.