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APOLLO ENTERPRISE SOLUTIONS, LTD. - Release of 2013 Results
Hamilton, Bermuda – 04 April, 2014 – Apollo Enterprise Solutions, Ltd. (“AES”; Tickers: AES.BH & OAL.GR) has released the audited financial results for the year ended 31 December, 2013.
AES was incorporated on 26 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 also listed on the XETRA trading platform (OAL:GY)
Reporting Currency
The Company’s results are reported in US Dollars.
Business Review
AES has largely performed in line with budgeted expectations during the 2013 fiscal year. Revenue for the quarter was $514,812 and investment income was $28. Revenue for the year was $1,727,318 and investment income for the year was $104. The net loss for the 4th quarter was $885,814 and the net loss for the year was $4,263,458. The Company has no minority interests, and there were no extraordinary items in either the 4th quarter or full year ended 2013. Basic Earnings (Loss) per share for the 4th quarter were ($0.02). Fully diluted Earnings (Loss) per share for the 4th quarter were ($0.02). Basic Earnings (Loss) per share for the year of 2013 were ($0.10). Fully diluted Earnings (Loss) per share for the year were ($0.07).
Over the course of the year, new marketing agreements have been entered into with several key consulting companies and software and hardware companies, including Oracle, First Data, Hewlett Packard, Western Union, PricewaterhouseCoopers, and KPMG.
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%). Dividends accrued for the year 2013 for the Preferred Classes were $487,099.26, $63,000.00, and $22,530.00 respectively. 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
The unaudited consolidated results for the three months ended 31 December 2013 have been prepared in accordance with US Generally Accepted Accounting Principles (USGAAP). The audited full year 2013 results are also presented in accordance with US Generally Accepted Accounting Principles (USGAAP).
Accounting Policies
The annual results have been audited 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 in 2013.
About AES
AES is the leader in advanced Agent Emulation™ Systems for consumer credit portfolios for banks and financial institutions. AES offers the patented TRUE™ System that empowers consumers to self-serve on a highly individualized basis according to their personal profile. Consumers are empowered to interact on a self-serve basis to resolve situations on any device, at any time. AES’ patented TRUE™ System helps banks and financial institutions achieve significantly improved operational effectiveness and large increases in profit, while enhancing the customer experience and brand loyalty. More information about Apollo Enterprise Solutions, Ltd. (AES:BH; OAL:GR) is available at http://www.aestrue.com
AES Contact:
Europe - John Everitt
Tel: 41 91 228 0237
john.everitt@contiadvisors.com
USA - Sha’Dona Brewer
Marketing & External Communications
Tel: (562) 513-3723