Nukkleus Inc, the parent company of FXDD Trading and FXMarkets brands, has published its financials with the US securities regulator for the April-June quarter. The company reported a net loss of $100,538 from its business in this period. This is an increase from last year’s profit of about 11%.
In contrast to their losses so far in 2021 (approximately 154K), Nukklues made more than 97K during that same timeframe last year. On average, they’re now reporting about 10% less income per month.
Financial services company Nukkleus is continuing to grow. The business generated $4.81 million from its operations in the year, increasing only 0.8%.
Its revenue for general support services remained at $4.8 million. It is identical to last year’s number. However, it saw an additional income stream this quarter with financial service charges coming in at over $41K. In fact, it provided them with some profit on their books!
Unfortunately, high amortization costs (intangible assets), professional fees, & administrative expenses, leave them slightly short overall when considering growth rates.
Acquisition and capital injection
Nukkleus is a company that provides technology to the foreign exchange trading industry. One of their most recent acquisitions was Match Financial. They acquired 70% for $9.8 million worth of stock and assets plus an additional 1 Million dollars in cash from issuing 15 million shares during May’s IPO (initial public offering).
Nukkleus states in their SEC filing that they have allocated $1,000,000 of proceeds to common stock and Series A Preferred Stock.
The Series A Preferred Stock terms represent mandatory redeemable shares with a fixed redemption date (5 years). Also, Nukcleus can choose between cash or a variable number of shares based on an arbitrary formula set out by the Member Certificate designation.