RTB Digital (RTB) Q3 2018 earnings summary

Executive summary

• Legacy operations were disposed of to an affiliate on April 12, 2018; continuing operations had no revenue, and the planned transfer of payment and POS-related assets had not closed by September 30.

• Q3 net loss was $22,060; 9M net loss was $5,595,142, driven largely by a $5,633,355 loss on settlement of debt.

Financial highlights

• Q3 2018 net loss was $22,060 versus net income of $22,155 in Q3 2017; 9M 2018 net loss was $5,595,142 versus net income of $55,913 in 9M 2017.

• 9M 2018 loss from discontinued operations was $5,573,082; continuing operations recorded a $22,060 loss.

• September 30 current assets were $252,731, including a $250,000 note receivable from an affiliate; cash was $0.

Outlook and guidance

• A September 20 agreement contemplated transfer of blockchain gateway, payment system, POS, delivery and kiosk operations and related IP; transfer was not completed as of the filing.

• An October 1 convertible note raised $53,000 gross proceeds at 10% annual interest; 2018 operating results were noted as not necessarily indicative of full-year results.