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PKKFF: Tenet Fintech Revenues Increased 144% In Q1 Despite Delayed Plans and Seasonal Weakness

Benzinga Real-time News ·  Jun 7, 2022 11:54

By Lisa Thompson

OTC:PKKFF

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In Q1 Tenet Fintech (OTC:PKKFF) stayed the course despite delays in raising cash to support growth. After a successful Q4 from shopping holidays, capital was redeployed in Q1 to other sectors. Of the $34.7 million in revenues generated in Q1 $7 million came from the petroleum vertical versus none last year. For the first time insurance started to contribute revenues toward the latter part of Q1 and added $500,000 in revenues. Given its launch late in Q1 we expect that vertical could add over $3 million to revenues in Q2. Both these sectors add gross margins higher than the...

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