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STOCKHOLM IT VENTURES AB PRESENTS FINANCIAL FIGURES OF ITS LAST ACQUISITION
STOCKHOLM, SWEDEN (May 2nd, 2019) – Stockholm IT Ventures AB (Frankfurt Stock Exchange: SVAB – ISIN SE 0006027546) disclosed on Friday, April 26th 2019, the acquisition of the Swedish Fintech company Sprinkle AB for a maximum of 680 million shares of Stockholm IT Ventures AB.
The issue of these shares will be carried out with existing pre-approved shares from the last shareholders meeting which was held in January 2019.
Stockholm IT Ventures AB would like to take the opportunity to present Sprinkle AB’s 2018 Income Statement and Balance Sheet.
Sprinkle AB had strong results in 2018 which were in line with the expectations of its management focusing on Fintech 2.0. The majority of these profits were derived from Sprinkle’s crowd funding platform Raise Reach. The management has further high expectations and expects the turnover and profit to grow in 2019.
*Sprinkle AB’s primary fixed assets consist of a windmill park, residential properties, and crypto currency mining facilities.
Post Year End Activities
The management would like to highlight two transactions from Q1 2019 which they expect to have a positive impact on the results for 2019:
1) The sale of ZeeBee Ventures APS, a Danish company that is active in the real estate industry, for the amount of EUR 900,383 and
2) The sale of several Fintech solutions to different customers for the amount of EUR 2,394,636. Sprinkle AB will continue to be involved in the development of these Fintech solutions for these customers.
Ian Cassiman, CEO of Sprinkle AB: “We are delighted to announce strong growth in our profits for 2018 as we join Stockholm IT Ventures AB. We strongly believe, that the strengths of both companies and the resulting synergy effects will deliver great value to our shareholders during the course of this year and after.”
Bert Scheen, CEO of Stockholm IT Ventures AB: “We congratulate Sprinkle AB on an excellent set of results for 2018 and look forward to an exciting 2019 together. Our two companies are currently integrating its management, staff and internal systems and we look forward announcing our combined strategy as soon as possible.
About Sprinkle AB
Sprinkle AB is a strong growing company having nine different business units strategically lined up around the world through Sprinkle Fusion Power™. Integrating AI & Blockchain technologies, as well as developing proprietary technologies, Sprinkle truly stands out as a pioneer in the FinTech industry. For more information check www.thesprinklegroup.com
About Stockholm IT Ventures AB
Stockholm IT Ventures AB is a Swedish public company listed on the Frankfurt Stock Exchange since 2014 under the ticker symbol SVAB. The Company specialises in clean and efficient low-cost energy cryptocurrency mining, production and related FinTech and Blockchain technologies. For more information visit www.stockholmit.co. You can also find the Company on Facebook, Twitter and LinkedIn.
Stockholm IT Ventures AB, Bert Scheen, firstname.lastname@example.org