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FreeStar Technology Announces Second Quarter Results

Friday 19 March 2004 16:54 CET | News

FreeStar Technology Corporation has reported record revenues and reduced losses for both the three months and six months ended December 31, 2003. Revenues for the six months ended December 31, 2003 rose to $661,374, up from $8,700 for the comparable six months in 2002.

Net loss for the six months ended December 31, 2003 decreased by 35% to $3,674,886, or $.01 per share, representing an improvement of $1,990,693, compared to a loss of $5,665,579, or $.09 per basic and diluted share, for the comparable period of 2002. For the three months ended December 31, 2003, revenues increased to $361,431. FreeStar had no revenue in the comparable quarter of 2002. Net loss for the three months ended December 31, 2003 decreased to $1,268,958, an improvement of $3,702,035, or 75%, compared to a net loss of $4,970,993 during the comparable quarter of the prior year. FreeStar also announced that it had favorably settled its litigation with Papell Holdings, Ltd., Boat Basin Investors LLC, vFinance, Inc. and certain related individuals.


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Categories: Payments & Commerce | Payments General
Countries: World
This article is part of category

Payments & Commerce