- Adamant (ADMT) has released its 2021 financial results headlined by significant revenue growth
- At year end, working capital was US$1,300,000 with revenue of US$496,000, compared to negligible amounts for both categories in 2020
- Over 2022, the company intends to further develop its UPOne platform and pursue M&A opportunities
- Adamant, formerly Upco International, offers technology solutions in fintech and wholesale telecom
- Adamant (ADMT) is up by 25 per cent trading at $0.05 per share
Adamant (ADMT) has released its 2021 financial results headlined by significant revenue growth.
It closed the year with a strong balance sheet due to reduced SG&A costs, a decrease in liabilities, strong capital inflows and the reactivation of subsidiary Oktacom’s wholesale voice sales.
Working capital stood at US$1,300,000 with revenue of US$496,000, compared to negligible amounts for both categories in 2020.
The company continues to establish strong relations with mobile operators around the world.
2021 highlights
- Engaged with Codeversity – a global digital technology company – to develop digital strategy, which has resulted in an initial project design
- Worked with Snoop Consulting to improve the customer experience, redesigning the roadmap of an existing application
- Grew Upco Messenger to 40,000 users with payment integration forthcoming
- Oktacom was also granted the 214 International Telecommunication License
Plans for 2022
- Continuing the development of the UPOne platform
- Strong investment in sales, marketing and communication strategies
- Increasing the company’s end-users through M&A with due diligence on several targets already underway
Adamant is the owner of Oktacom, a licensed global telecom carrier within the international voice over IP wholesale business, and Brilliance LTD, a cloud-based provider of voice termination for mobile.
Adamant (ADMT) is up by 25 per cent trading at $0.05 per share as of 9:42 am EST.