On 5 February 2019, TYMLEZ Group Limited (ASX: TYM), a company which belongs to the Information technology sector and is into the business of developing software which provides businesses with a scalable blockchain solution platform announced that it had officially achieved the partner status under the Google Cloud Technology Partner Program.
Through this achievement, TYMLEZ Group Limited will be able to promote and sell TYMLEZ solutions to customers as it can list its TYMLEZ Solution Blockchain Platform on the Google Cloud Platform.
Google will also be providing an additional training material to the company. The company will also be receiving credit from Google to use the Google Cloud Platform for the development and testing environment, customer demonstrations, as well as customer “proof of concept” opportunities.
Michael Reh, who is the CEO of TYMLEZ Group Limited said that it was a pleasure for the company since the TYM’s platform was getting endorsement through the Google Cloud Platform which was an excellent distribution platform for enhanced and accessible sales growth.
Since the listing of TYM on ASX, the stock has generated a positive return of 53.33%. The YTD performance of the stock was 43.75%.
As per the Q4 of the FY2018, which ended on 31 December 2018, the shares of TYM commenced trading on 13 December 2018 after the successful completion of the IPO. The company has received $107k in the form of cash receipts from customers during the period. The company continued its engagement with Key customer and partner in the December quarter. It was driven by Gemeente Den Haag, Save the Children, Nico.lab and BCG Plantinion (Boston Consulting Group). TYM reports a strong balance sheet with net cash of $4.482 million as at 31 December 2018 following all IPO and operational costs. During the period, the company continued to invest and make continuous improvements to its technology stack to enhance the scalability of TYMLEZ Blockchain Solution Platform (TBSP). The company is stepping forward to commercialize its Blockchain-in-a-Box. For this, it is entering into the partnership with SUSE and Hewlett Packard Enterprise (HPE). There was also an appointment of key BDM who will drive the Asia Pacific growth.
By the end of December quarter on 31 December 2018, TYM used net cash of $0.666 million in its operating activities. Here, the main reason for cash outflow was because of the payment made towards the advertising and marketing, leased assets, staff costs and the administration and corporate costs. The company also paid income tax.
The company made payment to acquire property, plant and equipment and also invested in the form of the development cost for the intellectual property. As a result, the net cash used in the investing activities was A$0.493 million.
During the period, the company generated revenues through the issue of shares, and there was also a specific transaction cost involved. As a result, the net cash used in the financing activities was A$5.157 million.
By the end of the December quarter on 31 December 2018, the company reported for net cash and cash equivalent of A$4.482 million.
By the end of the trading session on 5 February 2019, the closing price of the stock was A$0.245, which was up by 6.522% as compared to the previous trading day’s closing price. The stock has a market capitalization of A$30.06 million and 130.68 million outstanding shares.
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