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Jon Najarian – DIRECTOR – Jon ‘DRJ’ Najarian was linebacker for the Chicago Bears before he turned to another kind of contact sport – trading on the Chicago Board Options Exchange.
He became a member of the CBOE, NYSE, CME and CBOT and worked as a floor trader for some 25 years. In 1990 he founded Mercury Trading, a market-making firm at the Chicago Board Options Exchange (CBOE), which he sold in 2004 to Citadel, one of the world’s largest hedge funds. In 2005 Jon co-founded optionMONSTER and tradeMONSTER – both were acquired in 2014 by private equity firm General Atlantic Partners. Today, he is a professional investor, money manager and media analyst.
Jon developed and patented trading applications and algorithms used to identify unusual activity in stock, options, and futures markets. optionMONSTER, an options news and education site, was described by Securities Industry News as “content king of the options business”.
For years tradeMONSTER has been rated “Best for Options Traders” by Barron’s and was the first online broker to deploy streaming, desktop-like trading in a web browser.
In 2016 Jon and Pete co-founded Najarian Advisors, a company advising institutional investors on options strategies.
The brothers invest in and work with start-ups via Rebellion Partners, a venture consulting firm they launched in 2015.
Jon can be seen weekly on CNBC, where he is cast member of the “Halftime Report” and the “Fast Money” show. He is also the feature of the “DRJ Report” on CBOE-TV, the exchange’s popular webcast.
There are no existing family relationships amongst our Directors.https://www.sec.gov/Archives/edgar/data/1335112/000146970918000025/weyl8k_021218apg.htm
(D) Appointment of Directors
Effective February 12, 2018, the following individual was appointed as a new member of our board of directors:
Name | Age | Position |
Jon Najarian | 54 | Director |
Jon Najarian – DIRECTOR – Jon ‘DRJ’ Najarian was linebacker for the Chicago Bears before he turned to another kind of contact sport – trading on the Chicago Board Options Exchange.
He became a member of the CBOE, NYSE, CME and CBOT and worked as a floor trader for some 25 years. In 1990 he founded Mercury Trading, a market-making firm at the Chicago Board Options Exchange (CBOE), which he sold in 2004 to Citadel, one of the world’s largest hedge funds. In 2005 Jon co-founded optionMONSTER and tradeMONSTER – both were acquired in 2014 by private equity firm General Atlantic Partners. Today, he is a professional investor, money manager and media analyst.
Jon developed and patented trading applications and algorithms used to identify unusual activity in stock, options, and futures markets. optionMONSTER, an options news and education site, was described by Securities Industry News as “content king of the options business”.
For years tradeMONSTER has been rated “Best for Options Traders” by Barron’s and was the first online broker to deploy streaming, desktop-like trading in a web browser.
In 2016 Jon and Pete co-founded Najarian Advisors, a company advising institutional investors on options strategies.
The brothers invest in and work with start-ups via Rebellion Partners, a venture consulting firm they launched in 2015.
Jon can be seen weekly on CNBC, where he is cast member of the “Halftime Report” and the “Fast Money” show. He is also the feature of the “DRJ Report” on CBOE-TV, the exchange’s popular webcast.
There are no existing family relationships amongst our Directors.https://www.sec.gov/Archives/edgar/data/1335112/000146970918000025/weyl8k_021218apg.htm
Weyland Tech Welcomes Jon ‘Dr. J’ Najarian to Board of Directors
GlobeNewswire•February 15, 2018
GlobeNewswire•February 15, 2018
New York, NY, Feb. 15, 2018 (GLOBE NEWSWIRE) -- Weyland Tech, Inc. (WEYL) ("Weyland" or the "Company"), a provider of mobile business applications, announced today that Mr. Jon Najarian has joined the Company’s Board of Directors.
Weyland CEO Brent Suen welcomed Mr. Najarian to the Board commenting, “It is with great pleasure that we welcome Jon onto our Board, his breadth of financial market knowledge and experience is a great addition to our leadership as we prepare to bring AtozPay out of beta and grow our company’s presence in the digital payments space. We are excited to be the first public board Jon has joined.”
Mr. Najarian added, “When I saw Weyland's cutting edge CreateApp platform, I knew it was a game changer. When a business can build their own mobile apps, integrate Twitter, Instagram, YouTube, Sina and more with payment services that's a business with a very bright future. I'm excited to join their board and be part of this."
About Mr. Jon “Dr.J” Najarian
Jon “Dr.J” Najarian was a linebacker for the Chicago Bears before he turned to another kind of contact sport – trading on the Chicago Board Options Exchange.
He became a member of the CBOE, NYSE, CME and CBOT and worked as a floor trader for some 25 years. In 1990 he founded Mercury Trading, a market-making firm at the Chicago Board Options Exchange (CBOE), which he sold in 2004 to Citadel, one of the world’s largest hedge funds. In 2005 Jon co-founded optionMONSTER and tradeMONSTER – both were acquired in 2014 by private equity firm General Atlantic Partners. Today, he is a professional investor, money manager and media analyst.
Jon developed and patented trading applications and algorithms used to identify unusual activity in stock, options, and futures markets. optionMONSTER, an options news and education site, was described by Securities Industry News as “content king of the options business.”
For years tradeMONSTER has been rated “Best for Options Traders” by Barron’s and was the first online broker to deploy streaming, desktop-like trading in a web browser.
In 2016 Jon and his brother Pete co-founded Najarian Advisors, a company advising institutional investors on options strategies.
The brothers invest in and work with start-ups via Rebellion Partners, a venture consulting firm they launched in 2015.
Jon can be seen weekly on CNBC, where he is cast member of the “Halftime Report” and the “Fast Money” show. He is also the feature of the “DRJ Report” on CBOE-TV, the exchange’s popular webcast.
Jon’s CNBC Profile Page is available at: https://www.cnbc.com/jon-najarian/
Follow Jon on Twitter: @jonnajarian
The Company’s 8-k filing reflecting the appointment was filed with the SEC on February 12, 2018 and is available on the SEC’s website.
The Company looks forward to providing additional updates as they are available.
About Weyland Tech Inc.
Weyland Tech's CreateApp platform is focused on the Asia markets. Our CreateApp platform offered in 14 languages, enables small and medium sized businesses ("SMB's") to create native mobile applications ("APP") for Apple's iOS and Google Android without technical knowledge or background. Empowering SMB's to increase sales, reach more customers and promote their products and services via simple easy to build mobile APPs in an affordable and cost-effective manner.
Follow Weyland Tech online at:
Weyland Tech Facebook Page (https://www.facebook.com/weylandtech)
Weyland Tech Twitter Feed (https://twitter.com/weylandtechinc)
Weyland Tech LinkedIn Page (https://linkedin.com/company/weylandtech)
Brent Suen, CEO Public Facebook Page (https://www.facebook.com/BrentSuenWEYL)
Brent Suen, CEO Public Twitter Feed (https://www.twitter.com/BrentSuenWEYL)
Weyland CEO Brent Suen welcomed Mr. Najarian to the Board commenting, “It is with great pleasure that we welcome Jon onto our Board, his breadth of financial market knowledge and experience is a great addition to our leadership as we prepare to bring AtozPay out of beta and grow our company’s presence in the digital payments space. We are excited to be the first public board Jon has joined.”
Mr. Najarian added, “When I saw Weyland's cutting edge CreateApp platform, I knew it was a game changer. When a business can build their own mobile apps, integrate Twitter, Instagram, YouTube, Sina and more with payment services that's a business with a very bright future. I'm excited to join their board and be part of this."
About Mr. Jon “Dr.J” Najarian
Jon “Dr.J” Najarian was a linebacker for the Chicago Bears before he turned to another kind of contact sport – trading on the Chicago Board Options Exchange.
He became a member of the CBOE, NYSE, CME and CBOT and worked as a floor trader for some 25 years. In 1990 he founded Mercury Trading, a market-making firm at the Chicago Board Options Exchange (CBOE), which he sold in 2004 to Citadel, one of the world’s largest hedge funds. In 2005 Jon co-founded optionMONSTER and tradeMONSTER – both were acquired in 2014 by private equity firm General Atlantic Partners. Today, he is a professional investor, money manager and media analyst.
Jon developed and patented trading applications and algorithms used to identify unusual activity in stock, options, and futures markets. optionMONSTER, an options news and education site, was described by Securities Industry News as “content king of the options business.”
For years tradeMONSTER has been rated “Best for Options Traders” by Barron’s and was the first online broker to deploy streaming, desktop-like trading in a web browser.
In 2016 Jon and his brother Pete co-founded Najarian Advisors, a company advising institutional investors on options strategies.
The brothers invest in and work with start-ups via Rebellion Partners, a venture consulting firm they launched in 2015.
Jon can be seen weekly on CNBC, where he is cast member of the “Halftime Report” and the “Fast Money” show. He is also the feature of the “DRJ Report” on CBOE-TV, the exchange’s popular webcast.
Jon’s CNBC Profile Page is available at: https://www.cnbc.com/jon-najarian/
Follow Jon on Twitter: @jonnajarian
The Company’s 8-k filing reflecting the appointment was filed with the SEC on February 12, 2018 and is available on the SEC’s website.
The Company looks forward to providing additional updates as they are available.
About Weyland Tech Inc.
Weyland Tech's CreateApp platform is focused on the Asia markets. Our CreateApp platform offered in 14 languages, enables small and medium sized businesses ("SMB's") to create native mobile applications ("APP") for Apple's iOS and Google Android without technical knowledge or background. Empowering SMB's to increase sales, reach more customers and promote their products and services via simple easy to build mobile APPs in an affordable and cost-effective manner.
Follow Weyland Tech online at:
Weyland Tech Facebook Page (https://www.facebook.com/weylandtech)
Weyland Tech Twitter Feed (https://twitter.com/weylandtechinc)
Weyland Tech LinkedIn Page (https://linkedin.com/company/weylandtech)
Brent Suen, CEO Public Facebook Page (https://www.facebook.com/BrentSuenWEYL)
Brent Suen, CEO Public Twitter Feed (https://www.twitter.com/BrentSuenWEYL)
Weyland Tech, Inc. Announces Acquisition Offer From Strategic Partners DDBill Payment Co., Ltd. and Dinpay Technology Group Ltd.
GlobeNewswire•March 14, 2018
EW YORK, NY, March 14, 2018 (GLOBE NEWSWIRE) -- Weyland Tech, Inc. (OTCQX: WEYL; the “Company” or “Weyland”), a provider of mobile business applications, today confirmed that it has received a non-binding acquisition proposal from its recently announced strategic partner, China’s DDBill Payment Co., Ltd (“DDBill”) which operates China’s fourth largest payments gateway Dinpay (www.dinpay.com, English: us.dinpay.com) and Dinpay Technology Group Ltd. (“DTG”).
The two companies, having spent the past three months working with Weyland on joint collaboration on expanding DDBill and DTG’s product and service offering beyond China’s borders and evaluating the Indonesia e-Wallet market, have concluded that an acquisition of the Company would benefit all groups, including Weyland Shareholders.
DDBill and DTG’s Core business coverage is third-party payment technology / solution provider for :
1. Cross border WeChat business / solution provider
2. Cross border Alipay business / solution provider
3. VISA / master card products & solutions
4. Online payment gateway solutions
The Board of Directors will carefully evaluate this proposal and other potential alternatives, including continued operations as an independent organization, in alignment with its longstanding commitment to maximize shareholder value. The Company cautions its shareholders and others considering trading in its securities that there can be no assurance that any definitive offer will be made by DDBill and DTG, if made, at what price or other terms, that any agreement will be executed or that a transaction in response to these proposals or that any other transaction will be approved or consummated. The Company does not undertake any obligation to provide any updates with respect to these proposals or any other proposal, except as required under applicable law.
About Weyland Tech Inc.
Weyland Tech's CreateApp platform is focused on the Asia markets. Our CreateApp, platform offered in 14 languages, enables small and medium sized businesses ("SMB's") to create native mobile applications ("APP") for Apple's iOS and Google Android without technical knowledge or background. Empowering SMB's to increase sales, reach more customers and promote their products and services via simple easy to build mobile APPs in an affordable and cost-effective manner.
GlobeNewswire•March 14, 2018
EW YORK, NY, March 14, 2018 (GLOBE NEWSWIRE) -- Weyland Tech, Inc. (OTCQX: WEYL; the “Company” or “Weyland”), a provider of mobile business applications, today confirmed that it has received a non-binding acquisition proposal from its recently announced strategic partner, China’s DDBill Payment Co., Ltd (“DDBill”) which operates China’s fourth largest payments gateway Dinpay (www.dinpay.com, English: us.dinpay.com) and Dinpay Technology Group Ltd. (“DTG”).
The two companies, having spent the past three months working with Weyland on joint collaboration on expanding DDBill and DTG’s product and service offering beyond China’s borders and evaluating the Indonesia e-Wallet market, have concluded that an acquisition of the Company would benefit all groups, including Weyland Shareholders.
DDBill and DTG’s Core business coverage is third-party payment technology / solution provider for :
1. Cross border WeChat business / solution provider
2. Cross border Alipay business / solution provider
3. VISA / master card products & solutions
4. Online payment gateway solutions
The Board of Directors will carefully evaluate this proposal and other potential alternatives, including continued operations as an independent organization, in alignment with its longstanding commitment to maximize shareholder value. The Company cautions its shareholders and others considering trading in its securities that there can be no assurance that any definitive offer will be made by DDBill and DTG, if made, at what price or other terms, that any agreement will be executed or that a transaction in response to these proposals or that any other transaction will be approved or consummated. The Company does not undertake any obligation to provide any updates with respect to these proposals or any other proposal, except as required under applicable law.
About Weyland Tech Inc.
Weyland Tech's CreateApp platform is focused on the Asia markets. Our CreateApp, platform offered in 14 languages, enables small and medium sized businesses ("SMB's") to create native mobile applications ("APP") for Apple's iOS and Google Android without technical knowledge or background. Empowering SMB's to increase sales, reach more customers and promote their products and services via simple easy to build mobile APPs in an affordable and cost-effective manner.
Weyland Tech (WEYL) Upgraded at ValuEngine
Posted by ABMN Staff on Mar 15th, 2018 // No Comments
Weyland Tech (OTCMKTS:WEYL) was upgraded by research analysts at ValuEngine from a “buy” rating to a “strong-buy” rating in a report released on Thursday.
Shares of Weyland Tech (OTCMKTS:WEYL) traded up $0.55 on Thursday, reaching $5.25. The company’s stock had a trading volume of 73,416 shares, compared to its average volume of 18,216. The company has a market cap of $108.70, a price-to-earnings ratio of -47.72 and a beta of -2.89. Weyland Tech has a 1 year low of $2.70 and a 1 year high of $7.08.
Get Weyland Tech alerts:
About Weyland Tech
Weyland Tech, Inc, formerly Seratosa, Inc, is specialized in providing e-commerce solutions and services that facilitate multi-channel business-to-consumer (B2C) and business-to-business (B2B) transactions. The Company manages its business through its segment, e-commerce solutions and service provider.To view ValuEngine’s full report, visit ValuEngine’s official website.
https://www.americanbankingnews.com/2018/03/15/weyland-tech-weyl-upgraded-at-valuengine.html
Posted by ABMN Staff on Mar 15th, 2018 // No Comments
Weyland Tech (OTCMKTS:WEYL) was upgraded by research analysts at ValuEngine from a “buy” rating to a “strong-buy” rating in a report released on Thursday.Shares of Weyland Tech (OTCMKTS:WEYL) traded up $0.55 on Thursday, reaching $5.25. The company’s stock had a trading volume of 73,416 shares, compared to its average volume of 18,216. The company has a market cap of $108.70, a price-to-earnings ratio of -47.72 and a beta of -2.89. Weyland Tech has a 1 year low of $2.70 and a 1 year high of $7.08.
Get Weyland Tech alerts:
About Weyland Tech
Weyland Tech, Inc, formerly Seratosa, Inc, is specialized in providing e-commerce solutions and services that facilitate multi-channel business-to-consumer (B2C) and business-to-business (B2B) transactions. The Company manages its business through its segment, e-commerce solutions and service provider.To view ValuEngine’s full report, visit ValuEngine’s official website.
https://www.americanbankingnews.com/2018/03/15/weyland-tech-weyl-upgraded-at-valuengine.html
Weyland Tech Announces the Launch of Mobile Commerce and Logistics Platform Across Asia in Partnership With DPEX
GlobeNewswire•March 28, 2018
NEW YORK NY, March 28, 2018 (GLOBE NEWSWIRE) -- Weyland Tech Inc. (WEYL) ("Weyland” or the "Company"), a provider of mobile business applications, announces the launch of the ENable mobile commerce and logistics platform with its Strategic Partner, DPEX Worldwide (“DPEX”). The result of the strategic partnership announced in December 2016, the official launch of ENable is the culmination of over a year of integration of Weyland’s CreateApp technologies with DPEX’s logistics and shipping platform.
“We are excited to be announcing the launch of ENable with DPEX today. By integrating elements of our CreateApp platform with DPEX shipping and logistics capabilities, we are bringing a next generation mobile commerce platform to over 500,000 businesses that already count on DPEX for shipping and logistics. As regional e-commerce develops, the World Bank expects online retail to grow to 16 times from 2015 levels to $88 Billion through 2025,” commented Weyland CEO Brent Suen announcing the launch of ENable on Monday.
Mr. Suen continued, “DPEX is a great partner in the region, headquartered in Singapore with a presence in 17 countries and over half a million customers. These customers will now have the ability to build mobile first platforms for increasing B2B and B2C sales. The version that has launched is built with twenty-eight specific functions that will enable any business merchant to market, promote and sell products to their end consumers via the platform and also have the DPEX delivery and fulfillment services currently being utilized.”
Donald Tay, Chairman and CEO of DPEX said, “We are excited to bring these additional functions to our growing customer base in our partnership with Weyland. The tools we are making available will help our customers quickly deploy mobile tools to grow their business and in turn DPEX and Weyland will benefit from offering these additional services as our customers’ businesses grow. The revenue opportunities from helping the small business ecosystem grow will be substantial.”
About DPEX Worldwide
DPEX Worldwide https://dpex.com/ is an established Express and E-Commerce solutions provider in Asia providing a wide array of solutions and services catering to the growing need for seamless end to end logistics requirements by customers today.
With a history and experience dating 30 years and a comprehensive network spanning 17 countries in the region, DPEX Worldwide has extensive local knowledge to serve into and throughout Asia.
DPEX Worldwide is widely acknowledged as "Knowing Asia, Delivering Asia." From Asia to the world, DPEX Worldwide is positioned and poised to be a leading total solutions provider in the region, able to cater to the requirements for both cross border and domestic logistics solutions.
About Weyland Tech Inc.
Weyland Tech's CreateApp platform is focused on the Asia markets. Our CreateApp platform offered in 14 languages, enables small and medium sized businesses ("SMB's") to create native mobile applications ("APP") for Apple's iOS and Google Android without technical knowledge or background. Empowering SMB's to increase sales, reach more customers and promote their products and services via simple easy to build mobile APPs in an affordable and cost-effective manner.
GlobeNewswire•March 28, 2018
NEW YORK NY, March 28, 2018 (GLOBE NEWSWIRE) -- Weyland Tech Inc. (WEYL) ("Weyland” or the "Company"), a provider of mobile business applications, announces the launch of the ENable mobile commerce and logistics platform with its Strategic Partner, DPEX Worldwide (“DPEX”). The result of the strategic partnership announced in December 2016, the official launch of ENable is the culmination of over a year of integration of Weyland’s CreateApp technologies with DPEX’s logistics and shipping platform.
“We are excited to be announcing the launch of ENable with DPEX today. By integrating elements of our CreateApp platform with DPEX shipping and logistics capabilities, we are bringing a next generation mobile commerce platform to over 500,000 businesses that already count on DPEX for shipping and logistics. As regional e-commerce develops, the World Bank expects online retail to grow to 16 times from 2015 levels to $88 Billion through 2025,” commented Weyland CEO Brent Suen announcing the launch of ENable on Monday.
Mr. Suen continued, “DPEX is a great partner in the region, headquartered in Singapore with a presence in 17 countries and over half a million customers. These customers will now have the ability to build mobile first platforms for increasing B2B and B2C sales. The version that has launched is built with twenty-eight specific functions that will enable any business merchant to market, promote and sell products to their end consumers via the platform and also have the DPEX delivery and fulfillment services currently being utilized.”
Donald Tay, Chairman and CEO of DPEX said, “We are excited to bring these additional functions to our growing customer base in our partnership with Weyland. The tools we are making available will help our customers quickly deploy mobile tools to grow their business and in turn DPEX and Weyland will benefit from offering these additional services as our customers’ businesses grow. The revenue opportunities from helping the small business ecosystem grow will be substantial.”
About DPEX Worldwide
DPEX Worldwide https://dpex.com/ is an established Express and E-Commerce solutions provider in Asia providing a wide array of solutions and services catering to the growing need for seamless end to end logistics requirements by customers today.
With a history and experience dating 30 years and a comprehensive network spanning 17 countries in the region, DPEX Worldwide has extensive local knowledge to serve into and throughout Asia.
DPEX Worldwide is widely acknowledged as "Knowing Asia, Delivering Asia." From Asia to the world, DPEX Worldwide is positioned and poised to be a leading total solutions provider in the region, able to cater to the requirements for both cross border and domestic logistics solutions.
About Weyland Tech Inc.
Weyland Tech's CreateApp platform is focused on the Asia markets. Our CreateApp platform offered in 14 languages, enables small and medium sized businesses ("SMB's") to create native mobile applications ("APP") for Apple's iOS and Google Android without technical knowledge or background. Empowering SMB's to increase sales, reach more customers and promote their products and services via simple easy to build mobile APPs in an affordable and cost-effective manner.
Weyland Tech Business Outlook and Corporate Strategy
GlobeNewswire•April 25, 201
NEW YORK, NY, April 25, 2018 (GLOBE NEWSWIRE) -- Weyland Tech Inc. (WEYL) ("Weyland " or the "Company"), a provider of mobile business applications, released its 2017 Annual Report on Form 10-K, and announced today its fiscal 2018 business strategy and updates on its e-Wallet initiative.
Fiscal 2017 Highlights
· Revenue was $15.6 million
· Gross income was $4.3 million
“We are pleased to report fiscal 2017 service revenues increased 20% from fiscal 2016, which was the result of our efforts to increase market share for the CreateApp platform during 2017 in highly competitive emerging markets with reduced price points, as well as new subscriptions sold to existing customers and subscriptions sold directly to new customers,” commented Mr. Brent Suen, CEO of Weyland Tech, Inc. “The Company used the increased revenue to make significant investment into research and development, marketing and product development which management expects will create increased shareholder value in the near to mid-term.”
Revenue for fiscal 2017 was $15.6 million, up from revenue of $12.9 million in fiscal 2016. The increase in service revenues was primarily the result of increased volumes in the Company’s core mobile business application platform - CreateApp.
Gross income in fiscal 2017 was $4.3 million, compared to gross income of $5.3 million in 2016. The decline was due primarily to an increase in cost of service period to period. Cost of service was $11.3 million and $7.8 million in fiscal 2017 and 2016, respectively. The increase reflects cost associated with an increase in our Service revenues from growth in clients served.
Financial Condition
As of December 31, 2017, Weyland Tech, Inc. had 2.3 million in working capital, $1.06 million in cash and cash equivalents and $2.05 million in total liabilities. Stockholders’ equity stood at $3.3 million, compared to $2.6 million as of December 31, 2016. Cash used in operating activities during fiscal 2017 was $332,071.
Business Outlook
Weyland Tech, Inc. is focused on mobile commerce enablement via our enhanced platform built in 2017, and offered on a Platform-as-a-Service (“PaaS”) basis, and the company’s e-wallet initiative. Recent product launches with our strategic partners DPEX (Indonesia), BTG (Thailand), Augicom/Orange (France) are representative of the PaaS platform strategy and product offering.
“CreateApp continues to grow and remains competitive in the highly competitive mobile business application marketplace for DIY Apps, while facing global pricing that is, in some markets, as low as several dollars per month and even free with paid upgrades,” Mr. Suen continued. “However, the Company is optimistic about the prospects for its core mobile business applications going forward because the Company utilized the increased revenue to make significant investment into research and development, marketing and product development which, while contributing to a net loss of $74,282 for the year, management expects will create significant shareholder value in the near to mid-term.”
As a result, the Company’s core product has evolved over the course of 2017 to capitalize on the immediate opportunity for developing a larger network of valuable users and merchants by developing services that will enable the adoption of mobile commerce across Greater South East Asia. The platform enhancements have taken the Company’s technology from a standalone DIY app builder to an enhanced platform built to enable mobile commerce.
In 2018, Weyland will focus on scaling this business model by continuing to develop and expand strategic partnerships that would increase the number of users and merchants available to users of the Company’s products on a Platform-as-a-Service (“PaaS”) basis. These efforts will expand on the success of recent product launches representative of the PaaS platform strategy and product offering with our strategic partners DPEX (Indonesia), BTG (Thailand), and Augicom/Orange (France). And after extensive discussions with our partners, management believes that supporting these initiatives thru deeper engagement, interaction and co-marketing/sales will substantially benefit the Company in 2018 and beyond.
Growing the PaaS offering will also benefit from 2017s ancillary initiatives in eSports and online-to-offline commerce, which will be absorbed into the PaaS focus in 2018. The lessons from our eSports initiative will inform marketing of the PaaS platform and guide our efforts in attracting partners that service the young upcoming entrepreneurs in this and other exciting new drivers of SMB growth. Similarly, the lessons of the O2O trial in Hong Kong, have and will continue to benefit the development of the advanced logistical and transactional components that differentiate our platform from the stand alone DIY App builders that CreateApp has competed with historically.
The Company is also pleased to report that its 2017 e-wallet initiative, AtozPay, has surpassed expectations since its launch, achieving stronger than anticipated customer traction with limited marketing expense. With the AtozPay e-wallet, the Company created a ‘consumer facing’ product offering that supports the PaaS strategy developed by the enhancements to the CreateApp platform and enables Weyland to drive higher monetization on those platforms by providing payments capabilities.
AtoZPay is designed to be a robust, universal payment platform therefore its growth is not limited to the Company’s PaaS customers alone.
In management’s view, the recent acquisition offer from DinPay did not fairly compensate the shareholders for the value being created with Atozpay. Therefore, instead of a sale of the Company, to maximize the independent growth of AtozPay and consequently shareholder value, management has begun the process to spin-off the e-wallet business via a special dividend.
This effort is intended to boost shareholder value by creating a ‘stand-alone’ vehicle for the fast growing global e-money/e-wallet industry. Private and public transactions in the e-money/e-wallet industry in South East Asia are growing more frequent with valuations that would represent substantial value creation for existing shareholders.
While additional details will be released over the coming months, it is the Company’s belief that the spin-off and a subsequent IPO of the e-wallet business can be completed by the end of fiscal 2018.
Large institutional firms approached to discuss financing the e-wallets growth consistently recommended the Company focus on revenue production of developed platforms. Our existing PaaS partners expressed a similar desire to focus on expanding those platforms with us. Management agrees that by focusing on the PaaS platform and the e-wallet business, the Company has the ability to grow at a more rapid pace as well as exploit the Company’s advantages in those markets together with our partners.
Finally, the Company continues to be interested in bringing blockchain technology to our PaaS platforms and e-wallet technologies where appropriate, however due to regulatory considerations that could hinder the growth of AtozPay the Company will not be moving forward with Tokes Platform at this time, and will instead focus on growing e-wallet transaction volume and gaining share of our e-wallet in our markets.
We look forward to providing additional information as the Company continues to grow.
About Weyland Tech Inc.
Weyland Tech's CreateApp platform is focused on the Asia markets. Our CreateApp platform offered in 14 languages, enables small and medium sized businesses ("SMB's") to create native mobile applications ("APP") for Apple's iOS and Google Android without technical knowledge or background. Empowering SMB's to increase sales, reach more customers and promote their products and services via simple easy to build mobile APPs in an affordable and cost-effective manner.
Follow Weyland Tech online at:
Weyland Tech Facebook Page (https://www.facebook.com/weylandtech)
Weyland Tech Twitter Feed (https://twitter.com/weylandtechinc)
Weyland Tech LinkedIn Page (https://linkedin.com/company/weylandtech)
Brent Suen, CEO Public Facebook Page (https://www.facebook.com/BrentSuenWEYL)
Brent Suen, CEO Public Twitter Feed (https://www.twitter.com/BrentSuenWEYL)
https://finance.yahoo.com/news/weyland-tech-business-outlook-corporate-124833638.html
GlobeNewswire•April 25, 201
NEW YORK, NY, April 25, 2018 (GLOBE NEWSWIRE) -- Weyland Tech Inc. (WEYL) ("Weyland " or the "Company"), a provider of mobile business applications, released its 2017 Annual Report on Form 10-K, and announced today its fiscal 2018 business strategy and updates on its e-Wallet initiative.
Fiscal 2017 Highlights
· Revenue was $15.6 million
· Gross income was $4.3 million
“We are pleased to report fiscal 2017 service revenues increased 20% from fiscal 2016, which was the result of our efforts to increase market share for the CreateApp platform during 2017 in highly competitive emerging markets with reduced price points, as well as new subscriptions sold to existing customers and subscriptions sold directly to new customers,” commented Mr. Brent Suen, CEO of Weyland Tech, Inc. “The Company used the increased revenue to make significant investment into research and development, marketing and product development which management expects will create increased shareholder value in the near to mid-term.”
Revenue for fiscal 2017 was $15.6 million, up from revenue of $12.9 million in fiscal 2016. The increase in service revenues was primarily the result of increased volumes in the Company’s core mobile business application platform - CreateApp.
Gross income in fiscal 2017 was $4.3 million, compared to gross income of $5.3 million in 2016. The decline was due primarily to an increase in cost of service period to period. Cost of service was $11.3 million and $7.8 million in fiscal 2017 and 2016, respectively. The increase reflects cost associated with an increase in our Service revenues from growth in clients served.
Financial Condition
As of December 31, 2017, Weyland Tech, Inc. had 2.3 million in working capital, $1.06 million in cash and cash equivalents and $2.05 million in total liabilities. Stockholders’ equity stood at $3.3 million, compared to $2.6 million as of December 31, 2016. Cash used in operating activities during fiscal 2017 was $332,071.
Business Outlook
Weyland Tech, Inc. is focused on mobile commerce enablement via our enhanced platform built in 2017, and offered on a Platform-as-a-Service (“PaaS”) basis, and the company’s e-wallet initiative. Recent product launches with our strategic partners DPEX (Indonesia), BTG (Thailand), Augicom/Orange (France) are representative of the PaaS platform strategy and product offering.
“CreateApp continues to grow and remains competitive in the highly competitive mobile business application marketplace for DIY Apps, while facing global pricing that is, in some markets, as low as several dollars per month and even free with paid upgrades,” Mr. Suen continued. “However, the Company is optimistic about the prospects for its core mobile business applications going forward because the Company utilized the increased revenue to make significant investment into research and development, marketing and product development which, while contributing to a net loss of $74,282 for the year, management expects will create significant shareholder value in the near to mid-term.”
As a result, the Company’s core product has evolved over the course of 2017 to capitalize on the immediate opportunity for developing a larger network of valuable users and merchants by developing services that will enable the adoption of mobile commerce across Greater South East Asia. The platform enhancements have taken the Company’s technology from a standalone DIY app builder to an enhanced platform built to enable mobile commerce.
In 2018, Weyland will focus on scaling this business model by continuing to develop and expand strategic partnerships that would increase the number of users and merchants available to users of the Company’s products on a Platform-as-a-Service (“PaaS”) basis. These efforts will expand on the success of recent product launches representative of the PaaS platform strategy and product offering with our strategic partners DPEX (Indonesia), BTG (Thailand), and Augicom/Orange (France). And after extensive discussions with our partners, management believes that supporting these initiatives thru deeper engagement, interaction and co-marketing/sales will substantially benefit the Company in 2018 and beyond.
Growing the PaaS offering will also benefit from 2017s ancillary initiatives in eSports and online-to-offline commerce, which will be absorbed into the PaaS focus in 2018. The lessons from our eSports initiative will inform marketing of the PaaS platform and guide our efforts in attracting partners that service the young upcoming entrepreneurs in this and other exciting new drivers of SMB growth. Similarly, the lessons of the O2O trial in Hong Kong, have and will continue to benefit the development of the advanced logistical and transactional components that differentiate our platform from the stand alone DIY App builders that CreateApp has competed with historically.
The Company is also pleased to report that its 2017 e-wallet initiative, AtozPay, has surpassed expectations since its launch, achieving stronger than anticipated customer traction with limited marketing expense. With the AtozPay e-wallet, the Company created a ‘consumer facing’ product offering that supports the PaaS strategy developed by the enhancements to the CreateApp platform and enables Weyland to drive higher monetization on those platforms by providing payments capabilities.
AtoZPay is designed to be a robust, universal payment platform therefore its growth is not limited to the Company’s PaaS customers alone.
In management’s view, the recent acquisition offer from DinPay did not fairly compensate the shareholders for the value being created with Atozpay. Therefore, instead of a sale of the Company, to maximize the independent growth of AtozPay and consequently shareholder value, management has begun the process to spin-off the e-wallet business via a special dividend.
This effort is intended to boost shareholder value by creating a ‘stand-alone’ vehicle for the fast growing global e-money/e-wallet industry. Private and public transactions in the e-money/e-wallet industry in South East Asia are growing more frequent with valuations that would represent substantial value creation for existing shareholders.
While additional details will be released over the coming months, it is the Company’s belief that the spin-off and a subsequent IPO of the e-wallet business can be completed by the end of fiscal 2018.
Large institutional firms approached to discuss financing the e-wallets growth consistently recommended the Company focus on revenue production of developed platforms. Our existing PaaS partners expressed a similar desire to focus on expanding those platforms with us. Management agrees that by focusing on the PaaS platform and the e-wallet business, the Company has the ability to grow at a more rapid pace as well as exploit the Company’s advantages in those markets together with our partners.
Finally, the Company continues to be interested in bringing blockchain technology to our PaaS platforms and e-wallet technologies where appropriate, however due to regulatory considerations that could hinder the growth of AtozPay the Company will not be moving forward with Tokes Platform at this time, and will instead focus on growing e-wallet transaction volume and gaining share of our e-wallet in our markets.
We look forward to providing additional information as the Company continues to grow.
About Weyland Tech Inc.
Weyland Tech's CreateApp platform is focused on the Asia markets. Our CreateApp platform offered in 14 languages, enables small and medium sized businesses ("SMB's") to create native mobile applications ("APP") for Apple's iOS and Google Android without technical knowledge or background. Empowering SMB's to increase sales, reach more customers and promote their products and services via simple easy to build mobile APPs in an affordable and cost-effective manner.
Follow Weyland Tech online at:
Weyland Tech Facebook Page (https://www.facebook.com/weylandtech)
Weyland Tech Twitter Feed (https://twitter.com/weylandtechinc)
Weyland Tech LinkedIn Page (https://linkedin.com/company/weylandtech)
Brent Suen, CEO Public Facebook Page (https://www.facebook.com/BrentSuenWEYL)
Brent Suen, CEO Public Twitter Feed (https://www.twitter.com/BrentSuenWEYL)
https://finance.yahoo.com/news/weyland-tech-business-outlook-corporate-124833638.html
In a lousy market, this spin off is worth 3 times the market cap of the company right now . Shorts will get destroyed here
"In management’s view, the recent acquisition offer from DinPay did not fairly compensate the shareholders for the value being created with Atozpay. Therefore, instead of a sale of the Company, to maximize the independent growth of AtozPay and consequently shareholder value, management has begun the process to spin-off the e-wallet business via a special dividend."
| DAMS Consulting (@DAMSConsulting) |
| 5/8/18, 7:03 AM $WEYL otcshortreport.com last 2 days 65k vol & 35K naked shorted WE know they are not covering, Iam hearing someone named johnny from (Singapore) has threatened co (now we know who the short is) .He is a lawsuit with co. in filing Has a delivery problem my guess over 2M now |
[FONT="][h=1]Company Update on Spinoff of eWallet Business[/h]
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GlobeNewswire•May 10, 2018
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[FONT="]NEW YORK, NY, May 10, 2018 (GLOBE NEWSWIRE) -- Weyland Tech Inc. (WEYL) ("Weyland " or the "Company"), a provider of mobile business applications, provides an update on the Company’s recently announced spinoff of the eWallet business:
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[FONT="]Weyland Tech's CreateApp platform is focused on the Asia markets. Our CreateApp platform offered in 14 languages, enables small and medium sized businesses ("SMB's") to create native mobile applications ("APP") for Apple's iOS and Google Android without technical knowledge or background. Empowering SMB's to increase sales, reach more customers and promote their products and services via simple easy to build mobile APPs in an affordable and cost-effective manner.[/FONT]
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GlobeNewswire•May 10, 2018
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[FONT="]NEW YORK, NY, May 10, 2018 (GLOBE NEWSWIRE) -- Weyland Tech Inc. (WEYL) ("Weyland " or the "Company"), a provider of mobile business applications, provides an update on the Company’s recently announced spinoff of the eWallet business:
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- Management is currently finalizing an engagement letter with a ‘Big 5’ consulting firm to advise the Company on the spinoff and IPO structure as well as ongoing audit functions for the eWallet business.
- The eWallet business, operating in a ‘closed Beta’ environment from December 2017 to April 2018, was on an annual run-rate of US$5.0 million Gross Transaction Volume (“GTV”) with 15 sales people on staff and zero marketing and advertising expenditures. Recent hires have increased the current sales staff to 24 and our plan is to have 400 sales staff in place by year end 2018 with a targeted GTV of US$25-35 million run-rate.
- The 2019 goal is to have 1,000 sales staff and a target GTV of over US$80 million.
- The current funding environment in Southeast Asia has produced investment rounds for companies such as Go-Jek, Grab, SEA Ltd., and other technology centric companies valued at 1.2X GTV or higher. Recent M&A activity in the region has valued eWallet businesses as high as 1.8X GTV.
- It is the Company’s stated goal to take the eWallet business through the S-1 process and a subsequent IPO via a ‘fully-underwritten’ offering. For transparency in the interim the eWallet business will file public financials prior to the offering.
- As soon as practicably possible, the Company will designate a record date and ex-dividend date for the Spinoff of the eWallet business to shareholders of Weyland Tech.
[FONT="]Weyland Tech's CreateApp platform is focused on the Asia markets. Our CreateApp platform offered in 14 languages, enables small and medium sized businesses ("SMB's") to create native mobile applications ("APP") for Apple's iOS and Google Android without technical knowledge or background. Empowering SMB's to increase sales, reach more customers and promote their products and services via simple easy to build mobile APPs in an affordable and cost-effective manner.[/FONT]
Sorry I got you in this war, but for the people who add or hang in there , we will all sell these shares over 20
short squeeze could take it to ????
I added today
$WEYL from 10K Co is currently undergoing civil litigation in Singapore where a dispute has arisen between a shareholder & the Co in relation to the ownership of approximately 3,500,000 shares of the Company’s common stock, WHAT IF SOMEONE SOLD THIS STOCK? oh boy lets hope so
short squeeze could take it to ????
I added today
$WEYL from 10K Co is currently undergoing civil litigation in Singapore where a dispute has arisen between a shareholder & the Co in relation to the ownership of approximately 3,500,000 shares of the Company’s common stock, WHAT IF SOMEONE SOLD THIS STOCK? oh boy lets hope so
Addresses Recent Market Activity in the Company's Shares
GlobeNewswire•May 15, 2018 NEW YORK, NY, May 15, 2018 (GLOBE NEWSWIRE) -- Weyland Tech, Inc. (WEYL) ("Weyland" or the "Company"), a provider of mobile business applications, has noted increased trading activity in the Company's stock. While the Company's general policy is not to comment on market rumors or speculation, including market activities, the Company confirms that it has not taken any corporate action that would explain the trading activity and is not in possession of any material non-public information that would prompt the trading activity. Further, to the Company's knowledge, no insiders have sold or acquired any of the Company's shares recently, as the Company is in a blackout period in view of the reporting season, per the Company's policies.The Company has also engaged market professionals to assist it in monitoring market activity to ensure compliance with applicable rules, including naked short selling, insider trading and sales of unregistered securities, as such issues may become an issue from time to time for public companies. We are committed to working with regulatory agencies and professionals to insure a fair and efficient market for our securities.
The Company continues to execute its strategy, including the previously announced strategic process to spinoff the eWallet business.
About Weyland Tech Inc.
Weyland Tech's CreateApp platform is focused on the Asia markets. Our CreateApp platform offered in 14 languages, enables small and medium sized businesses ("SMB's") to create native mobile applications ("APP") for Apple's iOS and Google Android without technical knowledge or background. Empowering SMB's to increase sales, reach more customers and promote their products and services via simple easy to build mobile APPs in an affordable and cost-effective manner.
Follow Weyland Tech online at:
Weyland Tech Facebook Page (https://www.facebook.com/weylandtech)
Weyland Tech Twitter Feed (https://twitter.com/weylandtechinc)
Weyland Tech LinkedIn Page (https://linkedin.com/company/weylandtech)
Brent Suen, CEO Public Facebook Page (https://www.facebook.com/BrentSuenWEYL)
Brent Suen, CEO Public Twitter Feed (https://www.twitter.com/BrentSuenWEYL)
GlobeNewswire•May 15, 2018 NEW YORK, NY, May 15, 2018 (GLOBE NEWSWIRE) -- Weyland Tech, Inc. (WEYL) ("Weyland" or the "Company"), a provider of mobile business applications, has noted increased trading activity in the Company's stock. While the Company's general policy is not to comment on market rumors or speculation, including market activities, the Company confirms that it has not taken any corporate action that would explain the trading activity and is not in possession of any material non-public information that would prompt the trading activity. Further, to the Company's knowledge, no insiders have sold or acquired any of the Company's shares recently, as the Company is in a blackout period in view of the reporting season, per the Company's policies.The Company has also engaged market professionals to assist it in monitoring market activity to ensure compliance with applicable rules, including naked short selling, insider trading and sales of unregistered securities, as such issues may become an issue from time to time for public companies. We are committed to working with regulatory agencies and professionals to insure a fair and efficient market for our securities.
The Company continues to execute its strategy, including the previously announced strategic process to spinoff the eWallet business.
About Weyland Tech Inc.
Weyland Tech's CreateApp platform is focused on the Asia markets. Our CreateApp platform offered in 14 languages, enables small and medium sized businesses ("SMB's") to create native mobile applications ("APP") for Apple's iOS and Google Android without technical knowledge or background. Empowering SMB's to increase sales, reach more customers and promote their products and services via simple easy to build mobile APPs in an affordable and cost-effective manner.
Follow Weyland Tech online at:
Weyland Tech Facebook Page (https://www.facebook.com/weylandtech)
Weyland Tech Twitter Feed (https://twitter.com/weylandtechinc)
Weyland Tech LinkedIn Page (https://linkedin.com/company/weylandtech)
Brent Suen, CEO Public Facebook Page (https://www.facebook.com/BrentSuenWEYL)
Brent Suen, CEO Public Twitter Feed (https://www.twitter.com/BrentSuenWEYL)
what's your take on this stock? Singapor jonny messing up the companys reputation.
should i still hold? all these great news, but yet its still tanking. thanksD
Could be the greatest short squeeze ever ! If not, hopefully this will be settled shortly . I will sell all of my shares , but over 20 , minimum .
Some institutional buying came in today, and lets not forget who recently joined the board of directors
New York, NY, Feb. 15, 2018 (GLOBE NEWSWIRE) -- Weyland Tech, Inc. (WEYL) ("Weyland" or the "Company"), a provider of mobile business applications, announced today that Mr. Jon Najarian has joined the Company’s Board of Directors
We did have some real selling also on this recent slide, as a small hedge fund and his contacts starting buying around 4.5 hoping for a squeeze or a takeover . I believe they sold and walked away
Rumor is the company turned down a $7 offer from China’s DDBill Payment Co.
DO NOT , sell your shares in my opinion.. Buy more if you can
The fundamental story here is second to none
Bottom in? Lets see if we can make a higher high tomorrow
[FONT=wf_segoe-ui_normal]Follow Jon on Twitter: @jonnajarian[/FONT]
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[FONT=wf_segoe-ui_normal]Disclosures as of 5/17/18:[/FONT]
[FONT=wf_segoe-ui_normal]Long calls: Activision Blizzard, Akamai Technologies, American Airlines, Apple, Caesars Entertainment, Cleveland-Cliffs, Cree, Delta Air Lines, Facebook, First Data, JD.com, JetBlue, Knight-Swift, Masco, MGM Resorts, Microsoft,Net Element, Netflix, ******, Ralph Lauren, Snap Inc., Square, Teva Pharmaceutical, Twitter, Visa, VMware, Wells Fargo,Weyland Tech.[/FONT]
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[FONT=wf_segoe-ui_normal]Disclosures as of 5/17/18:[/FONT]
[FONT=wf_segoe-ui_normal]Long calls: Activision Blizzard, Akamai Technologies, American Airlines, Apple, Caesars Entertainment, Cleveland-Cliffs, Cree, Delta Air Lines, Facebook, First Data, JD.com, JetBlue, Knight-Swift, Masco, MGM Resorts, Microsoft,Net Element, Netflix, ******, Ralph Lauren, Snap Inc., Square, Teva Pharmaceutical, Twitter, Visa, VMware, Wells Fargo,Weyland Tech.[/FONT]
10 K SHARE INSIDER PURCHASE
http://archive.fast-edgar.com//20180517/AAZZR22CZ223E2Z2222K22ZZSRFKZZZR6GA2/
| 05/16/2018 | 05/16/2018 | P | 10,000 | A | $ 2.4 |
http://archive.fast-edgar.com//20180517/AAZZR22CZ223E2Z2222K22ZZSRFKZZZR6GA2/
Weyland Tech CEO Discusses AtozPay E-Wallet Beta Exit, Strategic Views on Payment Space
GlobeNewswire•May 23, 201
NEW YORK, NY, May 23, 2018 (GLOBE NEWSWIRE) -- Weyland Tech, Inc. (WEYL) ("Weyland" or "Company"), a provider of mobile business applications, released remarks by its CEO Brent Suen on the Company’s AtozPay e-wallet.
“The Company’s management is pleased to announce that AtozPay is officially out of beta.
“We are also excited to announce that AtozPay’s gross transaction value (GTV) has grown to $6.2 Million up from the $5.0 Million announced just two weeks ago, and that the rate of GTV growth increased by more than 100% since the exit from beta. We are well on our way to the $25-35 million in GTV targeted by year end. When combined with our 2019 targets of $80 Million GTV, the Company anticipates meeting or exceeding our target of approximately $100 Million in GTV within 18-months of launch.
“We are regularly asked why the Company has focused on the payments space. In our view, enabling payments for an unbanked population of 2 billion people creates substantial value. And this is not just a hunch, it is an industry wideview we share with some of the largest payments companies.
“Our view is regularly validated by the corporate activity in the payments space; most recently highlighted by theacquisition of iZettle by ****** for $2.2 Billion.
“As a result of operating our core business in Southeast Asia, Weyland has developed significant expertise while enabling businesses in the region to grow. By focusing on payments as the next step in the Company’s development we are leveraging our experience and unlocking significant value for ourselves and our customers.
“By bringing a vast number of underserved consumers and businesses modern mobile payment solutions, companies at the intersection of technology and commerce will enhance the lives of countless consumers while creating substantial shareholder value. Weyland is one such company.
“’Why Indonesia?’ Is another question that arises often. The explanation is simple once you know the facts. Indonesia is the4th most populous country in the world. And yet more thanhalf of the adult population does not have a bank account, meaning a stunning85% of transactions occur in cash, in a country withover $1 Trillion in GDP and agrowth rate projected to top 5.5% through 2022. Furthermore, Indonesia, according to a study commissioned by Temasek and Google in 2017, is leading the world in Internet growth with 19% projected CAGR from 2015-2020.
“Indonesia’s economy is much bigger than most people realize. To top-up the argument, the population has high smartphone penetration, but because the largest global players in mobile payments like GooglePay, ApplePay, Alipay and Samsung Pay do not operate there, themarket is highly fragmented. In reality, a country like Indonesia is a great place for a company like Weyland to start. We are constantly asked why we don’t do more in the US. Frankly, we are far more interested in being an eventual partner for a US company in South East Asia, than in trying to compete against a behemoth like Apple on its home turf. Indonesia provides a large growing market upon which Weyland can capitalize.
“We are also announcing today that we have engaged PricewaterhouseCoopers (PwC), to provide accounting and audit support for AtozPay and to advise on the previously announced spin-out of AtozPay operations at the appropriate time.
“We look forward to providing additional updates on our progress and the vast opportunity the Company is capitalizing on as our e-wallet grows. Thank you for your continued support.”
About Weyland Tech Inc.
Weyland Tech's CreateApp platform is focused on the Asia markets. Our CreateApp platform offered in 14 languages, enables small and medium sized businesses ("SMB's") to create native mobile applications ("APP") for Apple's iOS and Google Android without technical knowledge or background. Empowering SMB's to increase sales, reach more customers and promote their products and services via simple easy to build mobile APPs in an affordable and cost-effective manner.
Follow Weyland Tech online at:
Weyland Tech Facebook Page (https://www.facebook.com/weylandtech)
Weyland Tech Twitter Feed (https://twitter.com/weylandtechinc)
Weyland Tech LinkedIn Page (https://linkedin.com/company/weylandtech)
Brent Suen, CEO Public Facebook Page (https://www.facebook.com/BrentSuenWEYL)
Brent Suen, CEO Public Twitter Feed (https://www.twitter.com/BrentSuenWEYL)
GlobeNewswire•May 23, 201
NEW YORK, NY, May 23, 2018 (GLOBE NEWSWIRE) -- Weyland Tech, Inc. (WEYL) ("Weyland" or "Company"), a provider of mobile business applications, released remarks by its CEO Brent Suen on the Company’s AtozPay e-wallet.
“The Company’s management is pleased to announce that AtozPay is officially out of beta.
“We are also excited to announce that AtozPay’s gross transaction value (GTV) has grown to $6.2 Million up from the $5.0 Million announced just two weeks ago, and that the rate of GTV growth increased by more than 100% since the exit from beta. We are well on our way to the $25-35 million in GTV targeted by year end. When combined with our 2019 targets of $80 Million GTV, the Company anticipates meeting or exceeding our target of approximately $100 Million in GTV within 18-months of launch.
“We are regularly asked why the Company has focused on the payments space. In our view, enabling payments for an unbanked population of 2 billion people creates substantial value. And this is not just a hunch, it is an industry wideview we share with some of the largest payments companies.
“Our view is regularly validated by the corporate activity in the payments space; most recently highlighted by theacquisition of iZettle by ****** for $2.2 Billion.
“As a result of operating our core business in Southeast Asia, Weyland has developed significant expertise while enabling businesses in the region to grow. By focusing on payments as the next step in the Company’s development we are leveraging our experience and unlocking significant value for ourselves and our customers.
“By bringing a vast number of underserved consumers and businesses modern mobile payment solutions, companies at the intersection of technology and commerce will enhance the lives of countless consumers while creating substantial shareholder value. Weyland is one such company.
“’Why Indonesia?’ Is another question that arises often. The explanation is simple once you know the facts. Indonesia is the4th most populous country in the world. And yet more thanhalf of the adult population does not have a bank account, meaning a stunning85% of transactions occur in cash, in a country withover $1 Trillion in GDP and agrowth rate projected to top 5.5% through 2022. Furthermore, Indonesia, according to a study commissioned by Temasek and Google in 2017, is leading the world in Internet growth with 19% projected CAGR from 2015-2020.
“Indonesia’s economy is much bigger than most people realize. To top-up the argument, the population has high smartphone penetration, but because the largest global players in mobile payments like GooglePay, ApplePay, Alipay and Samsung Pay do not operate there, themarket is highly fragmented. In reality, a country like Indonesia is a great place for a company like Weyland to start. We are constantly asked why we don’t do more in the US. Frankly, we are far more interested in being an eventual partner for a US company in South East Asia, than in trying to compete against a behemoth like Apple on its home turf. Indonesia provides a large growing market upon which Weyland can capitalize.
“We are also announcing today that we have engaged PricewaterhouseCoopers (PwC), to provide accounting and audit support for AtozPay and to advise on the previously announced spin-out of AtozPay operations at the appropriate time.
“We look forward to providing additional updates on our progress and the vast opportunity the Company is capitalizing on as our e-wallet grows. Thank you for your continued support.”
About Weyland Tech Inc.
Weyland Tech's CreateApp platform is focused on the Asia markets. Our CreateApp platform offered in 14 languages, enables small and medium sized businesses ("SMB's") to create native mobile applications ("APP") for Apple's iOS and Google Android without technical knowledge or background. Empowering SMB's to increase sales, reach more customers and promote their products and services via simple easy to build mobile APPs in an affordable and cost-effective manner.
Follow Weyland Tech online at:
Weyland Tech Facebook Page (https://www.facebook.com/weylandtech)
Weyland Tech Twitter Feed (https://twitter.com/weylandtechinc)
Weyland Tech LinkedIn Page (https://linkedin.com/company/weylandtech)
Brent Suen, CEO Public Facebook Page (https://www.facebook.com/BrentSuenWEYL)
Brent Suen, CEO Public Twitter Feed (https://www.twitter.com/BrentSuenWEYL)
