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BRIEF-Digiliti money sees Q2 revenue $1.1 million to $1.3 million
August 4, 2017 / 12:16 PM / 4 months ago

BRIEF-Digiliti money sees Q2 revenue $1.1 million to $1.3 million

Aug 4 (Reuters) - Digiliti Money Group Inc

* Digiliti money announces preliminary second quarter 2017 results

* Sees q2 revenue $1.1 million to $1.3 million

* “our topline for quarter was lower than expected”

* Digiliti money group inc says digiliti money expects to seek financing to support its operations going forward

* Digiliti money group inc says also expects an accounts receivable reserve in amount of $1.8 million, due to unilateral noncontractual termination in q2

* Digiliti money group inc - ‍in process of implementing several cost-cutting initiatives​

* Digiliti money - ‍expect cost-cutting initiatives on fy, continuing basis, to reduce annual operating expenses by nearly $3 million when fully implemented​

* Digiliti money-‍if co is not able to achieve financing, sufficient positive cash flow from operations, it may not be able to continue as going concern​ Source text for Eikon: Further company coverage:

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