RocketFuel Blockchain Reports Preliminary Performance for Q2 FY2023
840% growth in e-commerce transactions over Q1
San Francisco, CA, Oct. 28, 2022 (GLOBE NEWSWIRE) — RocketFuel Blockchain Inc. (OTCQB: RKFL) (“RocketFuel” or the “Company”), a global provider of payment solutions via ACH wire transfers, Bitcoin and other cryptocurrencies, today announced preliminary financial results for its fiscal second quarter ended September 30, 2022.
Preliminary results for the second quarter
The company is pleased to announce that the number of e-commerce transactions processed by the company increased by 840% in Q2 compared to Q1. The increase in transactions leads to a significant increase in revenues in Q2 compared to Q1.
CEO‘s Notes
Peter Jensen, CEO of RocketFuel, commented: “We are excited about our recent acceleration in transactions and transaction volume, which really took off towards the end of the quarter. It is great to see that our sales strategy of selling indirectly through payment service providers and other partners is delivering positive results. During the quarter, more and more partners’ merchants went live and increased the acceptance of crypto payments using our e-commerce solution. In addition, we are pleased that early adopters have validated our second product and revenue stream: B2B cross-border remittance.
As of June 2023, RocketFuel generated more than $1 million in transaction volume in final tests of its new B2B cross-border transfer product with a handful of early adopters. The final version is scheduled for release later this year and expects to generate increased revenue from this new product.
Investor Update Calls
RocketFuel will hold an investor update on Thursday, November 3, 2022, at 8:00 AM Pacific Time, to present its latest product status and strategic and growth plans. Investors can join the session at us06web.zoom.us/j/8114210933. A webcast of the presentation will be available on RocketFuel’s website at www.RocketFuelBlockchain.com/investor-relations. The webcast will also be archived and available for replay after the event is complete.
A separate investor update to discuss Q2 FY2023 operating results will take place in mid-November after the quarterly report on Form 10-Q is filed.
About RocketFuel BlockchainInc.
RocketFuel is a global payment solutions company that provides online customers with a simple, user-friendly, one-click payment process that accepts payments by wire transfer, Bitcoin and 50+ cryptocurrencies. RocketFuel delivers a highly secure and efficient shopping cart experience with significantly low merchant fees, along with the benefits of no chargebacks and no card declines. RocketFuel’s solutions focus on improved privacy for customers that eliminate the risk of data breaches while improving speed, security and ease of use. Shoppers at RocketFuel-powered online stores enjoy seamless checkout and forget the clunky shopping cart paradigm of the past. RocketFuel sellers can implement new impulse buying schemes and generate new sales channels not available in other current e-commerce solutions. More information about RocketFuel is available at: www.RocketFuelBlockchain.com
Disclaimer for forward-looking statements:
The company believes that this press release contains forward-looking statements as this term is defined in the Private Securities Litigation Reform Act of 1995. Terms such as “may”, “may”, “would”, “should”, “could”, “project”, “estimate” , “pro forma”, “predict”, “potential”, “strategy”, “anticipate”, “attempt”, “develop”, “plan”, “help”, “believe” “continue”, “intend”, “expect”, “future” and terms of similar meaning (including the negative of any of these terms) may identify forward-looking statements. Such forward-looking statements, including but not limited to statements regarding management’s plans and objectives for future operations, are based on management’s current expectations and are subject to risks and uncertainties that could cause results to differ materially from the forward-looking statements. Actual results and the timing of certain events and circumstances may differ materially from those described in forward-looking statements as a result of these risks and uncertainties. Factors that could affect or contribute to the accuracy of the forward-looking statements or cause actual results to differ materially from expected or desired results may include, without limitation, market acceptance of the Company’s products and services; competition from existing products or new products that may appear; implementing the company’s business model and strategic plans for our business and products; estimates of the company’s future revenues, expenses, capital needs and financing needs; current and future government regulations; and developments related to the company’s competitors. Readers are cautioned not to rely on forward-looking statements because of the risks and uncertainties associated with them. For additional information regarding such risks and uncertainties, you are encouraged to review the Company’s filings with the Securities and Exchange Commission (“SEC”), including its Annual Report on Form 10-K for the fiscal year ended March 31, 2022 and quarterly. Report on Form 10-Q for the quarter of the fiscal year June 2022. The company undertakes no obligation to update any forward-looking statements as a result of new information or future events or developments, except as required by law.
For more information, please contact:
Company:
[email protected]
Investors:
Ben Yankowitz, CFO
[email protected]
ClearThink Investor Relations
[email protected]
