Ackroo Inc - AKRFF STOCK NEWS

Ackroo Inc. updates investors on the progress of their acquisition of Simpliconnect, showcasing operational efficiencies, profitability, and financial gains. The company has successfully integrated the business, achieved a 16% profit margin in the first year, and expects a 60%+ profit margin moving forward. Additionally, Ackroo aims to pay back the cash investment within 39 months and has bought back shares to offset those issued for the acquisition.

Ackroo Inc. provides an update on the progress made after the acquisition of Simpliconnect, showcasing operational efficiencies, financial gains, and strategic integration plans. The Company has successfully streamlined operations, achieved a 16% profit margin, and is on track to complete product parity and client migration by April 2024. Additionally, Ackroo expects a 60%+ profit margin post-migration, with a return on invested capital anticipated within 39 months. The Company has also repurchased shares to offset those issued during the acquisition, emphasizing a strong financial position.

Ackroo Inc. reports unaudited annual revenues of $6,825,670 for the year ended December 31st, 2023, with a 9% increase in total revenue and an 11% increase in recurring revenue over the same period in 2022. The company completed its thirteenth acquisition, divested a non-core point-of-sale product, paid down approximately $524,000 of debt, bought back 6,068,681 shares, and expects to announce their sixth consecutive positive adjusted EBITDA year. The company also achieved 11% YoY recurring revenue growth and 9% YoY total revenue growth. The complete financial results will be available under the profile for Ackroo on SEDAR+ at www.sedarplus.com.

Ackroo Inc. (TSX-V: AKR, OTC: AKRFF) announces that all matters presented at the annual general meeting were approved by shareholders, including the election of directors, re-appointment of the auditor, and adoption of a new security-based compensation plan.

Ackroo Inc. (TSX-V: AKR; OTC: AKRFF) successfully completed its 2023 Normal Course Issuer Bid, buying and cancelling all 6,068,681 shares available, reducing the total share count by 5% to 115,304,952 shares. The average price paid per share was $0.08692, totaling $527,469 invested. The Company also paid Canaccord Genuity Corp. $11,150 in fees. Ackroo plans to renew the NCIB in June 2024, aiming to provide returns to shareholders based on the Company's financial position and share price.

Ackroo Inc. (TSX-V: AKR; OTC: AKRFF) has closed its third U.S. based acquisition and thirteenth acquisition overall. The company, a loyalty marketing, payments, and point-of-sale technology and services provider, has completed the acquisition of the GiftFly business from GiftFly LLC, an international payments company based in the U.S. The acquisition adds over 4,000 merchant locations to Ackroo's portfolio. In consideration for the acquisition, the company has paid $350,000 USD on closing, and will make a further four monthly cash payments of $100,000 USD commencing on January 5th, 2024. The company is at arms-length from the Vendor, and no finders’ fees or commissions were paid in connection with completion of the acquisition. CEO Steve Levely expressed eagerness to integrate and optimize the GiftFly eGift card business to continue merchant and product expansion plans. Founder and CEO of GiftFly, Cory Perkins, stated that transitioning the e-gift card business to Ackroo will allow GiftFly to re-invest into their new core focus, emphasizing Ackroo's market leadership and experience in integrating organizations like GiftFly's into theirs.

Ackroo Inc. (AKR on TSX-V, AKRFF on OTC) has signed a definitive agreement to acquire the digital gift card business from U.S.-based payments company GiftFly.com LLC. The acquisition will almost double the number of locations Ackroo will support, representing its thirteenth acquisition to date. The total consideration for the acquisition is $750,000, to be satisfied through a cash payment of $350,000 on closing and four monthly cash payments of $100,000 commencing on January 5, 2024.

Ackroo Inc. (TSX-V: AKR; OTC: AKRFF) announces annual general and special meeting of shareholders on December 7th, 2023. Shareholders to vote on appointing the auditor, electing directors, and approving a new compensation plan. Meeting details available on SEDAR.

Ackroo Inc. (TSX-V: AKR; OTC: AKRFF) reports 8% year-to-date YoY revenue growth and 24% year-to-date YoY EBITDA growth. The company achieved 24% adjusted EBITDA as a percentage of total revenue, used earnings for share buy-backs, and focused on debt reduction.