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 submission of its financial statements for the quarter ending March 2023 to OTC Markets Disclosure & News Service. The Company reported strong financial results, with a revenue increase of 72% as compared to the previous quarter, which reflects a remarkable year-over-year increase of 2,733%. In addition, RHCO achieved a profit of $1,886,501 for this period, representing a significant increase of 129% compared to the last quarter.

The strong performance was primarily driven by the growing activities of Neckermann Direct (www.neckermanndirect.eu), RHCO’s B2C E-commerce Platform. The Company successfully relaunched Neckermann Direct last year, transforming one of the most well-known retail brands in Europe, with a 70-year legacy, into a global E-commerce front-runner. This platform offers a gateway for Asian merchants and products to enter the European markets, and with over 150,000 products available, the platform has experienced tremendous growth in sales. Furthermore, in 2Q 2023, Neckermann Direct started penetrating the American markets, and the Company anticipates further growth in the coming months.

In addition to Neckermann Direct, another key contributor to RHCO in 1Q 2023 was Readies, the eVoucher payment system developed and operated by Ares Technology Limited, a subsidiary of RHCO. Since its initial launch in late 2021, Readies has gained popularity among online merchants across Europe, as it provides a secure and convenient payment platform that meets the needs of both merchants and customers. The Company has announced that a new version of Readies 3.0, which incorporates blockchain technologies, will be launched this month. With advanced security and enhanced features, the Company anticipates a significant increase in the number of merchants and customers utilizing Readies. It is projected that in 12 months, Readies will generate between 50M to 100M EUR in revenue per month, with an average profit margin of 1% to 2%.

The Company also announced that, in accordance with new accounting standards, 10M USD of goodwill was written off in Q1 2023. This non-cash write-off reflects the Company's commitment to complying with the latest accounting regulations and maintaining transparency in its financial reporting. The Company's management team is confident that this adjustment will not have a significant impact on RHCO's long-term financial performance and remains optimistic about the Company's growth prospects.

Richard Klitsie, CEO of RHCO stated, “We are delighted to report that the first quarter of 2023 has yielded outstanding results. After dedicating significant time and resources in Neckermann Direct and Readies, our efforts have finally borne fruit. However, we are not resting on our laurels. Our upcoming release of Readies 3.0 will provide a significant upgrade to the platform and lead to even greater business success. We remain committed to enhancing Neckermann Direct and our next objective in the realm of e-commerce is the relaunch of Two Percent. I believe RHCO is well-positioned for continued growth and success in the coming quarters.”

Readen Holding Corporation (OTC PINK: RHCO), a Venture Capital Corporation with a focus on the Fintech, Online Payment, and E-commerce sectors, today announced the forthcoming launch of Readies 3.0. This new version of the Company's eVoucher payment solution incorporates blockchain technologies and is scheduled for release next week.

Readies is an eVoucher payment system developed and operated by Ares Technology Limited, a subsidiary of RHCO that also owns Neckermann Direct and Two Percent, two E-commerce businesses. Since its initial launch in late 2021, Readies has gained popularity among online merchants across Europe. As more merchants are being classified as high-risk businesses by traditional credit/debit card issuers, they face challenges in utilizing these payment methods and require alternative payment solutions. Readies has emerged as a safe and convenient payment platform that caters to the needs of both merchants and customers.

Readies 3.0 represents a significant upgrade to its predecessor, featuring a user-friendly platform and a secure system that leverages the potential of blockchain technologies. In the new system, Readies operates as a BEP-20 token created on BNB Smart Chain (BSC). By harnessing the power of blockchain, the new platform fosters trust among various stakeholders, including merchants and customers. Moreover, the utilization of blockchain technologies enhances the security of payment transactions by generating an immutable record of each transaction with end-to-end encryption. This effectively eliminates fraudulent activities and unauthorized access. Additionally, Readies 3.0 addresses privacy concerns more effectively than conventional payment systems, as all transaction data remains anonymous, and access is restricted by permissions.

Despite its use of advanced blockchain and cryptocurrency technologies, Readies 3.0 has been designed to be incredibly user-friendly. Merchants and customers alike can utilize Readies platform with ease, without requiring any specialized knowledge of blockchain or cryptocurrency. The platform presents Readies as a simple eVoucher, with 1 Readies always being equivalent to 0.1 EUR. In addition, to ensure a seamless experience for all users, Readies 3.0 system bears the gas fees for all transactions on the blockchain. Basically, customers do not have to pay any fee on their transactions.

With an easy sign-up, customers can purchase Readies online with a maximum limit of 800 EUR. They can then utilize them for transactions on integrated merchants' sites. Optionally, a full KYC process allows customers to own a wallet, where they can top up Readies multiple times. This payment solution is particularly beneficial for merchants, especially those in high-risk businesses that are unable to accept traditional credit/debit cards.

Readies differentiates itself from competitors by offering merchants lower payment fees and faster payout times. With the addition of enhanced features and advanced security provided by blockchain technologies, the Company anticipates a substantial increase in the number of merchants and customers utilizing Readies. It is projected that in 12 months, Readies will generate between 50M to 100M EUR in revenue per month, with an average profit margin of 1% to 2%. This level of performance would make Ares Technology Limited the largest subsidiary within RHCO.

Richard Klitsie, CEO of RHCO, stated, “Our Readies eVoucher payment solution has been well received by merchants and customers alike, owing to its reduced payment fees and faster payout times compared to competitors. In the past year, Readies has contributed significantly to the Company's revenues, which is a testament to its efficacy. We continued to improve Readies, investing more than 10 months to develop Readies 3.0. With its launch, we anticipate even more benefits for merchants and customers, which will drive increased adoption of Readies as the preferred online payment method. We are confident that Readies will experience significant growth, further cementing our position as a market leader in the Online Payment and E-commerce industries.”

Readen Holding Corporation (OTC PINK: RHCO), a Venture Capital Corporation which is active in the Fintech, Online Payment and E-commerce industries, today announced that its Neckermann Direct B2C E-commerce Platform will start penetrating the American markets with series of online marketing activities.

The Company has transformed Neckermann Online Store and relaunched it as the all new Neckermann Direct B2C E-commerce Platform (www.neckermanndirect.eu) last year. Targeting the European consumers, Neckermann Direct offers more than 350,000 products from Asian merchants and can ship them directly to the European customers. After months of operation, it has brought excellent transaction numbers and generated significant revenues. The most popular products purchased through Neckermann Direct were Fashion & Clothing, Cosmetics & Health Care, and Mobile Phone Accessories. The Company decides it is the right time to extend the reach, and will start series of marketing activities to attract American consumers, including those living in USA, Canada, Mexico, etc.

Neckermann is a 70 years old, one of the most well-known retails brand in Europe. It was founded in Germany in the 1950’s by Dr. Josef Neckermann, and quickly grew to be the largest mail order company in Europe and once distributed over 3 million copies of product catalogue to households. Over the years, its offering of over 700,000 products along with its credit facilities, made Neckermann a household brand in most European countries. In 2016 RHCO took over a majority in Neckermann in the Benelux and implemented a new strategy to rebuild it to be an online retailer.

In early 2022, RHCO decided to transform Neckermann Online Store into Neckermann Direct, an all-new B2C E-commerce platform which welcome cross-border merchants from Asia to directly sell their products to customers in Europe. The Company realized the market opportunity, as there were tremendous needs from Asian suppliers, factories, and merchants to sell directly to Europe, yet the current block of Chinese merchant accounts by E-commerce giant Amazon has forced many Chinese companies to seek other direct selling channels. Neckermann Direct aims to activity bridging the gap, encouraging genuine and high-quality Chinese / Asian products to be offered directly on its platform without any wholesaler.

Richard Klitsie, CEO of RHCO stated, “Neckermann Direct has successfully provided a trustful platform for both consumers and merchants as the whole Europe knows Neckermann. We are confident that Neckermann Direct can also perform very well in the American markets, as Asian merchants are longing to sell to worldwide as well. Our Neckermann Direct Platform is definitely riding on the global E-commerce wavefront, and we are only starting to realize its potential.”