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5 Mar 2024

Readen Holding Corporation (OTC Pink: RHCO) Announces Filing of September 30, 2023 and December 31, 2023 Financial Statements with OTC Markets


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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