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Apollo Enterprise Solutions Ltd. – Interim 2013 Results (Excerpt)
Hamilton, Bermuda. – 03 October, 2013 – Apollo Enterprise Solutions, Ltd. (the "Company" or “AES”; Tickers: Bermuda - AES.BH; Frankfurt – OAL:GR & OAL:GY), has released interim 2013 results to 30 June, 2013. The Company filing stated:
“Apollo Enterprise Solutions Limited (AES) Releases Unaudited Consolidated Results for the Period ending June 30, 2013.
AES was incorporated on 29 September 2012 in Bermuda with the primary objective of offering investors a high growth technology investment opportunity. The Company’s primary listing is on the Bermuda Stock Exchange (AES:BH). It has a secondary listing on the Frankfurt Stock Exchange (OAL:GR) and XETRA (OAL:GY).
Reporting Currency - The Company’s results are reported in US Dollars.
Business Review
AES has performed in line with budgeted expectations during the first half of its 2013 fiscal year. New marketing agreements have been entered into with several key influential consulting companies and software and hardware companies, including Oracle, First Data, Hewlett Packard, PricewaterhouseCoopers, and Deloitte & Touche. We believe that these agreements will bring additional revenue for the Company beginning in 2014 as customers adopt its technology.
Additionally, the Company has received approval from its significant customer to install the Company’s technology in an additional business unit beginning with the fourth quarter of 2013. Additional expansion of the Company’s technology into this significant customer’s existing business unit has been secured and should result in additional revenues throughout the remainder of 2013.
Prospects
The Company believes that it will continue its growth in revenue through licensing of its technology through strategic alliances with major banking software developers and consultants, as well as through the Company’s own sales force.
Dividends
The Company has declared no Common Stock dividend for the period under review. The Company accrues Dividends on Preferred Class A, Preferred Class A-1 and Preferred Class A-2 stock as required by their terms in each class (all Preferred Dividends are 6%). No Preferred Dividends are payable until the Company has achieved three consecutive quarters of profitability and receives Board of Directors approval to pay such dividends.
Basis of Presentation
These unaudited consolidated results for the six months ended 30 June 2013 have been prepared in accordance with US Generally Accepted Accounting Principles (USGAAP).
Accounting Policies
The results below have not been audited or reviewed by the Company’s external auditors. The accounting policies adopted are consistent with those published in the Audited Annual Financial Statements for the period ended 31 December 2012.
Changes to the Board
There were no changes to the Board of Directors during the first half of 2013.”
-submission ends-
A copy of the unaudited accounts has been posted to the Company’s BSX web-page as is available via www.bsx.com
About AES
AES offers an enterprise wide Agent Emulation™ System for management of consumer credit portfolios. AES’ patented TRUE™ System achieves operational effectiveness, increase in profit, and materially enhances consumer experience and brand loyalty. Consumers are empowered to interact on a self-serve basis to resolve situations on any device, at any time.
Contact:
Europe
John Everitt
Tel: 41 91 228 0237
john.everitt@contiadvisors.com
USA
Sha’Dona Brewer, Marketing & External Communications
Tel: (562) 513-3723