versapay corp (VPY) Snapshot

Versapay Corporation announced that it has entered into a payment processing and referral agreement with TD Merchant Services, an operating division of The Toronto-Dominion Bank ("TD"). Under the terms of the agreement, VersaPay and TD will refer eligible business-to-business merchant customers to each other in order to take advantage of VersaPay's cloud-based payment processing solution and TD's credit card and debit card processing services, respectively.

Versapay Corporation announced financial results for the first quarter ended March 31, 2013. For the quarter, the company reported total revenue of CAD 4,137,973 compared to CAD 3,904,907 a year ago. Net loss and comprehensive loss was CAD 326,473 or CAD 0.02 per basic and diluted share compared to CAD 323,569 or CAD 0.02 per basic and diluted share a year ago. Cash used in operating activities was CAD 245,078 compared to CAD 431,360 a year ago. Acquisition of equipment was CAD 660 compared to CAD 14,632 a year ago. Adjusted LBITDA was CAD 0.2 million against CAD 0.02 million a year ago. The year-over-year improvement was driven primarily by growth in the Company's transaction processing fees.

Versapay Corporation announced financial results for the fourth quarter and year ended December 31, 2012. For the quarter, the company's total revenues were CAD 4.1 million against CAD 3.7 million a year ago. Net loss was CAD 0.3 million against CAD 0.2 million a year ago. Adjusted EBITDA was CAD 0.3 million against CAD 0.2 million a year ago. For the year, the company's total revenues were CAD 16.9 million against CAD 15.1 million a year ago. Net loss was CAD 1.5 million or CAD 0.10 per basic and diluted share against CAD 0.9 million or CAD 0.07 per basic and diluted share a year ago. Adjusted EBITDA was CAD 0.9 million against CAD 0.4 million a year ago. Cash provided by operating activities was CAD 1,099,989 against CAD 382,237 a year ago. Acquisition of equipment was CAD 25,425 against CAD 124,404 a year ago. For the quarter, the company provided impairment loss of CAD 31,763 against CAD 31,763 a year ago.