Win Global Markets Services Ltd, an over-the-counter (OTC) pink sheet market-listed company behind one of the CySEC regulated binary options brokerages EZTrader, reported that it has filed with the U.S. Securities and Exchange Commission (SEC) to register its shares of common stock with the regulator and be re-quoted on the next tier of the over-the-counter market - OTCQB.
The firm reported a five-fold increase in its total revenue figures for the first half of 2014, to $7.95 million from $1.52 million a year ago. The firm’s EBITDA excluding stock-based compensation totaled a loss of $226,000, when compared to a loss of $2.76 million for fiscal 2013, ending December 31st.
In May 2014, the company raised $3.94 million pricing shares at $0.50 with cash and cash equivalents, totaling $6.95 million (as of June 30 2014), compared to $170,000 on June 30th last year.
The firm has since announced two premium partnership deals with major European football clubs, German Beyer Leverkusen and Dutch Feyenoord Rotterdam. The company shared with Forex Magnates' reporters at the time that it will soon be launching shared websites with the teams to promote binary options trading.
The company’s CEO, Shimon Citron, stated in the company announcement, “Internationally, we are seeing an increased interest in binary options as a popular type of global trading tool. Customers will continue to favor regulated online trading providers with a global reach. We continue to enhance and develop our existing Trading Platform to anticipate market trends and customer expectations.”
EZTrader was launched in 2008. EZTrader is authorized by the Cyprus Securities and Exchange Commission (CySEC) since March 2014. The listed company, WGM Services, also owns and operates two more brands - Global Option and 888binary.com, which is a label aiming at the Chinese market.
WGM Services reports that the number of new customers in the first half of 2014 increased by 145% to 7,854 accounts, when compared to 3,200 in H1 2013. According to the company announcement, the trend accelerated in the summer months as 6,660 new customers signed up in July and August of 2014.
Commenting on the decision to re-register with the SEC and seek quotation of EZTrader’s shares on the OTCQB market, Mr. Citron said, “Our growth strategy focuses on operating only in fully regulated markets, where greater awareness of binary option trading delivers significant results. We are on a solid strategic path, and working to get our shares quoted again on the OTCQB is another important step that will generate increased visibility worldwide.”
