Nukkleus Inc Reports: Gain in Q2 Revenue, but Ends in Loss

Nukkleus is a company that provides technology to the foreign exchange trading industry.

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.

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