Correction: Quickbit publishes Annual Report ‘22/23

Quickbit announces a correction to the press release published yesterday. The correction concerns reference to Material uncertainty relating to going concern in the auditor’s report. The following two paragraphs are added to the press release and are then followed by the original press release from yesterday.

From the auditor’s report:

“Material uncertainty relating to going concern 

Without modifying our opinions above, we want to draw attention to the report of the board of directors on page 34 and to Note 21 in the financial statements which indicate that if the company does not succeed in its cost-saving program and improving profitability, the company may need new financing. And if the company fails to obtain new financing, this could significantly impact its future operations. These events or conditions, along with other matters as set forth in the report of the board of directors on page 34 and in Note 21, indicate that a material uncertainty exists that may cast significant doubt on the Company’s ability to continue as a going concern.”

Quickbit’s comment

As the auditor points out, there is a risk linked to the company's liquidity. The Board and Management would like to point out, however, that most of the liquidity-enhancing measures that Quickbit planned have already been implemented and have produced the desired effect, primarily via the execution of the rights issue and repayments of escrow funds. In addition, revenues need to increase from the current level, which is now our full focus and where we have taken important steps during the fall.
 

The initial press release

Quickbit’s annual report for the financial year 2022/2023 is now available in Swedish and English at the company’s website https://investor.quickbit.com/en/financial-reports/. 

The annual report is available to download in its entirety as a PDF document and a printed copy can be ordered at [email protected].

The Annual General Meeting will be held on 14 December 2023.

For further information, please contact:

Daniel Sonesson, CEO 

+ 46 73 530 30 25
[email protected]  

The Annual Report is published in Swedish and English. In the event of any differences between the English version and the Swedish original, the Swedish version takes precedence.

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Quickbit is a Swedish fintech company founded in 2016 with the goal of making the integration of cryptocurrencies into the everyday lives of people and companies smoother. Today, Quickbit offers safe and easy-to-use products for e-merchants as well as customers. With a transaction volume to date in excess of €1 billion, Quickbit has already enabled and empowered individuals around the world, through the use of cryptocurrencies. Quickbit has been listed on NGM Nordic SME since July 2019. For more information, please visit www.quickbit.com