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Readen Holding Corporation (OTC Pink: RHCO) is a listed venture capital corporation with a history of over 30 years. It has a long history of engaging in the retail trade and more recently it is active in the Fintech, Online Payment and E-commerce industries. RHCO has subsidiaries and liaison offices in Europe, Asia and New Zealand. 

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RHCO has made a strategic decision to pursue an investment strategy that takes an integrated asset approach with a focus on Payments, E-commerce and their supporting Infrastructure technologies. In addition to seeking a structured balance between short-term revenue and long-term outperformance multiples, RHCO continues to find value in distressed assets. This has always been supported by its strong turnaround abilities and disposal of non-performing assets.

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Latest News from RHCO

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READEN HOLDING CORPORATION (OTC PINK: RHCO), a leading Venture Capital Corporation active in the Fintech, Online Payment, and E-commerce sectors, announced today the submission of its financial statements for the quarters ending September 2023 and December 2023 to the OTC Markets Disclosure & News Service.

The delay in filing for both quarters was attributed to the Company's renewal of information to OTC Markets following a change in management. Mr. Johannes H Westbroek (a.k.a. Harry Westbroek) was appointed as the new Chief Executive Officer of RHCO on September 1, 2023. OTC Markets currently displays a "Yield Sign" on RHCO, yet the Company anticipates its removal after OTC Markets reviews the submitted filings.

RHCO reported robust financial performance for the quarter ended December 2023, with a remarkable revenue increase of 117.6% compared to the previous quarter. Additionally, the Company achieved a profit of $1,304,371 for this period, reflecting a notable surge of 94.5% from the last quarter.

The impressive performance was primarily fueled by Readies, the payment system developed and operated by Finexeble S.R.O., a subsidiary of RHCO. Since its inception in late 2021, Readies has garnered significant popularity among online merchants across Europe for its secure and convenient payment platform catering to both merchants and customers. The latest version of Readies, incorporating blockchain technologies, was launched in Q4 2023. With its advanced security features and enhanced functionalities, the Company foresees a substantial increase in merchant and customer adoption. It is projected that within 2024 Readies will generate between 50M to 100M EUR in revenue per month, with an average profit margin of 1% to 2%.

Harry Westbroek, CEO of RHCO stated, “We apologize for the lack of information in recent months. We are pleased to resume regular communication with our shareholders. RHCO has numerous ongoing plans to be announced, and we anticipate an exciting year ahead.”

5 Mar 2024

READEN HOLDING CORPORATION (OTC PINK: RHCO), a leading Venture Capital Corporation active in the Fintech, Online Payment, and E-commerce sectors, announced today the submission of its financial statements for the quarters ending September 2023 and December 2023 to the OTC Markets Disclosure & News Service.

The delay in filing for both quarters was attributed to the Company's renewal of information to OTC Markets following a change in management. Mr. Johannes H Westbroek (a.k.a. Harry Westbroek) was appointed as the new Chief Executive Officer of RHCO on September 1, 2023. OTC Markets currently displays a "Yield Sign" on RHCO, yet the Company anticipates its removal after OTC Markets reviews the submitted filings.

RHCO reported robust financial performance for the quarter ended December 2023, with a remarkable revenue increase of 117.6% compared to the previous quarter. Additionally, the Company achieved a profit of $1,304,371 for this period, reflecting a notable surge of 94.5% from the last quarter.

The impressive performance was primarily fueled by Readies, the payment system developed and operated by Finexeble S.R.O., a subsidiary of RHCO. Since its inception in late 2021, Readies has garnered significant popularity among online merchants across Europe for its secure and convenient payment platform catering to both merchants and customers. The latest version of Readies, incorporating blockchain technologies, was launched in Q4 2023. With its advanced security features and enhanced functionalities, the Company foresees a substantial increase in merchant and customer adoption. It is projected that within 2024 Readies will generate between 50M to 100M EUR in revenue per month, with an average profit margin of 1% to 2%.

Harry Westbroek, CEO of RHCO stated, “We apologize for the lack of information in recent months. We are pleased to resume regular communication with our shareholders. RHCO has numerous ongoing plans to be announced, and we anticipate an exciting year ahead.”

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Readen Holding Corporation (OTC PINK: RHCO), a Venture Capital Corporation with a focus on the Fintech, Online Payment, and E-commerce sectors, today announced that it has acquired 9% shares of Excellentaste International Group Limited in Hong Kong (hereinafter “Excellntaste International”, Chinese brand known as 良糧國際).

Excellentaste International (www.etaste.com.hk) is a premier KOL short-video-based e-commerce company, renowned for its operations in Hong Kong and China. With a vast network of over 30,000 KOL (key opinion leaders), it specializes in online sales of diverse consumer products. The company demonstrated robust financial performance, reporting audited revenue of HKD 26.7 million (~USD 3.42M) and net profit after tax of HKD 2.4 million (~USD 307,700) for the fiscal year ending on December 31, 2023. RHCO has expressed its intention to acquire 100% ownership of Excellentaste International, contingent upon their performance, by the conclusion of the year 2024.

Through the acquisition of Excellentaste International, RHCO has successfully fortified its e-commerce presence in Asia, particularly in the online retail sector. Additionally, this strategic move enables Excellentaste International to leverage the online platform www.neckermanndirect.eu, a wholly owned subsidiary of RHCO, to effectively market its products to consumers in both the Asian and European markets.

Harry Westbroek, CEO of RHCO stated, "I am thrilled that we have started our strategic investment in Excellentaste International, and we will be integrating all existing product lines into our operations. We anticipate significant benefits from the synergies within RHCO’s online retail business through this exciting partnership, particularly leveraging Excellentaste's robust KOL network in Asia. As we propel our business forward, we strive to strike a structured balance between short-term revenue and long-term outperformance multiples. This investment significantly bolsters our direct reach to consumers in Asia, providing considerable strength to our operations.”

Rainbow Ngan, founder and CEO of Excellentaste International, remarked, "This marks a monumental milestone in the company's history as we embark on our listing journey in the USA capital market. Amidst a global scarcity of genuinely healthy food sources, we have strategically acquired multiple food supply technologies, securing our sources directly from farms and establishing efficient distribution channels to reach customers directly. With these advancements, Excellentaste International is poised to extend its services beyond Hong Kong."

19 Feb 2024

Readen Holding Corporation (OTC PINK: RHCO), a Venture Capital Corporation with a focus on the Fintech, Online Payment, and E-commerce sectors, today announced that it has acquired 9% shares of Excellentaste International Group Limited in Hong Kong (hereinafter “Excellntaste International”, Chinese brand known as 良糧國際).

Excellentaste International (www.etaste.com.hk) is a premier KOL short-video-based e-commerce company, renowned for its operations in Hong Kong and China. With a vast network of over 30,000 KOL (key opinion leaders), it specializes in online sales of diverse consumer products. The company demonstrated robust financial performance, reporting audited revenue of HKD 26.7 million (~USD 3.42M) and net profit after tax of HKD 2.4 million (~USD 307,700) for the fiscal year ending on December 31, 2023. RHCO has expressed its intention to acquire 100% ownership of Excellentaste International, contingent upon their performance, by the conclusion of the year 2024.

Through the acquisition of Excellentaste International, RHCO has successfully fortified its e-commerce presence in Asia, particularly in the online retail sector. Additionally, this strategic move enables Excellentaste International to leverage the online platform www.neckermanndirect.eu, a wholly owned subsidiary of RHCO, to effectively market its products to consumers in both the Asian and European markets.

Harry Westbroek, CEO of RHCO stated, "I am thrilled that we have started our strategic investment in Excellentaste International, and we will be integrating all existing product lines into our operations. We anticipate significant benefits from the synergies within RHCO’s online retail business through this exciting partnership, particularly leveraging Excellentaste's robust KOL network in Asia. As we propel our business forward, we strive to strike a structured balance between short-term revenue and long-term outperformance multiples. This investment significantly bolsters our direct reach to consumers in Asia, providing considerable strength to our operations.”

Rainbow Ngan, founder and CEO of Excellentaste International, remarked, "This marks a monumental milestone in the company's history as we embark on our listing journey in the USA capital market. Amidst a global scarcity of genuinely healthy food sources, we have strategically acquired multiple food supply technologies, securing our sources directly from farms and establishing efficient distribution channels to reach customers directly. With these advancements, Excellentaste International is poised to extend its services beyond Hong Kong."

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READEN HOLDING CORPORATION (OTC PINK: RHCO), a Venture Capital Corporation which is active in the Fintech, Online Payment and E-commerce industries, today announced the appointment of Johannes H Westbroek (a.k.a. Harry Westbroek) as its new Chief Executive Officer, effective 1 September 2023.

Harry Westbroek originally joined RHCO in November 2022, serving as the Director of European Business. In this capacity, he oversaw the Company's European subsidiaries, including Okey Media BV and OK-2 BV, and was later promoted to the position of Chief Operating Officer for Fintech.

With an extensive and distinguished career in International Business, Harry Westbroek brings a wealth of experience across Venture Capital, Fintech, Media, Lotteries, and Start-ups. His leadership roles in renowned global enterprises, such as Managing Partner of WiseBourne International BV, CEO of Proximity Wolves BV, CEO of Venture Fund T-Space, among others, have cemented his reputation as a seasoned industry professional. He was also Managing Director of De Lotto in the Netherlands and Ecolot Lottery Uzbekistan. He held managing positions in DigiPay, T-Space and Tornado Insider, incubating, structuring and managing start-ups.

Harry Westbroek possesses a solid background in media, having held key positions at Moscow Times, Independent Distributors Inc (Cosmopolitan, Playboy), Wegener Magazine Group, and News Tribune at various points in time. His expertise spans both traditional and digital publishing, along with a deep understanding of the adjacent advertising industry.

Harry holds an Nyenrode Wharton MBA and has served as an Associate Professor at UIBS Business School in Antwerpen/Barcelona/Brussels. He has also contributed as a Lecturer at Intercollege Business School in Amsterdam. Furthermore, he assumed the role of EC Director for Central Asia, overseeing the management and implementation of the Tacis Ecological Awareness Program. Notably, as a social entrepreneur, he initiated the Society Treasure Reserve and DestinA (My Destination Armenia), with a focus on further developing the Armenian Silicon Valley and fostering an international community of Digital Nomads in Armenia.

Expressing his enthusiasm for his new role, Harry Westbroek stated, “I am truly honored to take on the position of CEO at RHCO. Leading an organization at the forefront of the Fintech industry presents a unique and exciting challenge. I am invigorated by this opportunity, recognizing the tremendous growth potential within RHCO's various companies and projects in the years ahead. Throughout my career, I have centered my leadership on operational excellence and a people-centric approach, firmly believing that success arises from creating an environment that unites all facets of an organization toward a common objective. I eagerly anticipate contributing to RHCO's mission of delivering world-class products and services in the Fintech, Online Payment, and E-commerce sectors.”

12 Sept 2023

READEN HOLDING CORPORATION (OTC PINK: RHCO), a Venture Capital Corporation which is active in the Fintech, Online Payment and E-commerce industries, today announced the appointment of Johannes H Westbroek (a.k.a. Harry Westbroek) as its new Chief Executive Officer, effective 1 September 2023.

Harry Westbroek originally joined RHCO in November 2022, serving as the Director of European Business. In this capacity, he oversaw the Company's European subsidiaries, including Okey Media BV and OK-2 BV, and was later promoted to the position of Chief Operating Officer for Fintech.

With an extensive and distinguished career in International Business, Harry Westbroek brings a wealth of experience across Venture Capital, Fintech, Media, Lotteries, and Start-ups. His leadership roles in renowned global enterprises, such as Managing Partner of WiseBourne International BV, CEO of Proximity Wolves BV, CEO of Venture Fund T-Space, among others, have cemented his reputation as a seasoned industry professional. He was also Managing Director of De Lotto in the Netherlands and Ecolot Lottery Uzbekistan. He held managing positions in DigiPay, T-Space and Tornado Insider, incubating, structuring and managing start-ups.

Harry Westbroek possesses a solid background in media, having held key positions at Moscow Times, Independent Distributors Inc (Cosmopolitan, Playboy), Wegener Magazine Group, and News Tribune at various points in time. His expertise spans both traditional and digital publishing, along with a deep understanding of the adjacent advertising industry.

Harry holds an Nyenrode Wharton MBA and has served as an Associate Professor at UIBS Business School in Antwerpen/Barcelona/Brussels. He has also contributed as a Lecturer at Intercollege Business School in Amsterdam. Furthermore, he assumed the role of EC Director for Central Asia, overseeing the management and implementation of the Tacis Ecological Awareness Program. Notably, as a social entrepreneur, he initiated the Society Treasure Reserve and DestinA (My Destination Armenia), with a focus on further developing the Armenian Silicon Valley and fostering an international community of Digital Nomads in Armenia.

Expressing his enthusiasm for his new role, Harry Westbroek stated, “I am truly honored to take on the position of CEO at RHCO. Leading an organization at the forefront of the Fintech industry presents a unique and exciting challenge. I am invigorated by this opportunity, recognizing the tremendous growth potential within RHCO's various companies and projects in the years ahead. Throughout my career, I have centered my leadership on operational excellence and a people-centric approach, firmly believing that success arises from creating an environment that unites all facets of an organization toward a common objective. I eagerly anticipate contributing to RHCO's mission of delivering world-class products and services in the Fintech, Online Payment, and E-commerce sectors.”

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