Readen Hold Stock Price, News & Analysis

Readen Holding (OTC PINK: RHCO) has signed a Memorandum of Understanding (MOU) to acquire an 80% stake in Morrich Lottery , a licensed lottery operator in Nigeria. The acquisition will enable RHCO to expand Morrich's services to include Keno and scratch lottery games, with potential future casino offerings.

A key highlight is the integration of RHCO's Readies payment platform into Morrich Lottery operations, marking its first entry into the African market. Readies, operated under RHCO's Czech subsidiary Finexeble S.R.O., is a blockchain-powered hybrid payment platform supporting both fiat and crypto transactions.

The MOU includes a six-week due diligence period with an exclusivity clause. The transaction's completion depends on successful due diligence and definitive agreement negotiations.

Readen Holding (OTC PINK: RHCO) has filed its financial statements for the period ending December 31, 2024, reporting a net profit of $709,052 and total revenue of $5.71 million, with a gross profit of $1.35 million. The company's blockchain-powered Readies platform, operated by its subsidiary Finexeble S.R.O., continues to evolve as a next-generation digital payment ecosystem.

RHCO is expanding globally with a new office in Dubai and is pursuing a Virtual Assets Regulatory Authority (VARA) license. This expansion, combined with their existing Virtual Asset Service Provider (VASP) license, is expected to significantly scale their crypto operations. CEO Ridzky Berg anticipates this strategic move could increase their business volume fivefold, leveraging Dubai's supportive environment for digital assets.

READEN HOLDING CORPORATION (OTC PINK: RHCO) reported strong financial results for Q4 2022, showcasing a 151.70% revenue increase from Q3 2022 and a remarkable 665.25% year-over-year growth. The company achieved a profit of $822,343, reflecting a staggering 1,413.99% rise compared to the previous quarter. This performance was bolstered by the resurgence of travel and retail sectors post-COVID, with substantial contributions from Oke Partners and Neckermann Direct, which has expanded its e-commerce offerings significantly. Management anticipates continued growth through enhanced marketing efforts and strategic positioning in the fintech and e-commerce industries.

Readen Holding Corporation (OTC PINK: RHCO) announced the upcoming launch of its Oke Travel Club as part of the OkeApp, a discount referral app. After 90 days of beta testing, the Oke Travel Club will offer members discounts up to 50% on travel services, including hotels and flights, through partnerships with major service providers. This initiative aims to enhance the OkeApp's appeal to post-COVID travelers and to stimulate growth in its platform. The official launch is expected by the end of August 2022.

On August 3, 2022, Readen Holding Corporation (OTC PINK: RHCO) announced the upcoming launch of Oke Travel Club, a travel membership program offering discounts up to 50% on various travel-related services. The club will integrate with OkeApp, providing members access to over 1 million hotel locations and numerous dining and retail options. This initiative aims to drive growth in OkeApp and capitalize on the post-COVID travel recovery. RHCO forecasts substantial profit generation from this new venture, enhancing OkeApp's appeal as a must-have travel tool.

Readen Holding Corporation (OTC PINK: RHCO) announced its financial results for Q1 2022, revealing a remarkable 634.42% increase in revenue compared to Q4 2021, and a 161.39% year-over-year growth. After two quarters of minor losses, RHCO reported a minor profit, with net assets rising 1.99% from the previous financial year. This growth is attributed to successful operations of its apps OkeApp and Readies. Additionally, RHCO's Fintech division saw a 700% revenue surge in January 2022 compared to December 2021, indicating strong momentum for the company.

Readen Holding Corporation (OTC PINK: RHCO) has announced the listing of its cryptocurrency, OkToken, on Uniswap, a significant decentralized exchange. This event enables users to trade OkToken against Ethereum, enhancing liquidity. The token aims to attract venture capital investors and enables broader public investment in venture capital. An ICO for OkToken will commence on April 1, 2022, accepting BTC, ETH, and USD. Following prior regulatory uncertainties in China, RHCO has redirected its focus to Europe and is optimistic about OkToken's potential, anticipating substantial investor engagement.

Readen Holding Corporation (OTC PINK: RHCO) announced the appointment of J&S Associate as its auditor for the company's up listing initiative. The audit will assess RHCO's financial statements according to PCAOB standards, facilitating its application for public quotation on the OTCQB market. CEO Richard Klitsie highlighted this step as crucial for enhancing the company's market activity and attracting new investors. RHCO aims to transition from OTC PINK to OTCQB, seeking increased transparency and operational strength in the Fintech, Online Payment, and E-commerce industries.

Readen Holding Corporation (RHCO) announced a remarkable 700% increase in revenue for January 2022, compared to December 2021, attributed to its Fintech Division's successful launch of OkeApp and Readies. The January revenue matched the division's total for the previous six months. OkeApp offers notable discounts and marketing benefits to merchants without direct payment fees. Readies facilitates online payments in over 50 countries, with thousands of transactions processed daily. RHCO anticipates continued growth as more merchants join and consumer transactions increase.