RTB Digital (RTB) Q2 2018 earnings summary

Executive summary

• Control changed on May 3, 2018; legacy assets and liabilities had been transferred to an affiliated entity on April 12, leaving no ongoing operations.

• A September 4 preliminary understanding contemplated transferring blockchain payments, POS, delivery and kiosk businesses and related IP in exchange for assuming associated liabilities; no agreement had been signed.

Financial highlights

• Statements report discontinued-operations net loss of $5.639 million for Q2 2018 versus $43,555 net income in Q2 2017, and $5.513 million for H1 2018 versus $33,758 net income in H1 2017.

• The $5.633 million debt-settlement loss drove the reported deficit; it arose when $144,445 of officer credit was converted into shares valued at $5.778 million.

• Discontinued-operations EPS was $(0.04) for Q2 and $(0.07) for H1 2018; continuing-operations EPS was $0.00.

Outlook and guidance

• The September 4 preliminary asset-transfer understanding targeted finalization within 30 days, subject to agreement; consideration would be assumption of liabilities related to the specified businesses and IP.

• Interim results were stated not to be necessarily indicative of results for FY 2018.