SAN FRANCISCO, CA, Aug. 17, 2016 /CNW/ - Customer experience
solutions and software company McorpCX, Inc. (TSXV: MCX,
OTCQB:MCCX) ("McorpCX" or the "Company") today provided a business
update reporting financial results for the three months ended
June 30, 2016 and announced voting
results from its annual shareholder meeting.
"During Q2 2016, our revenues increased compared to both the
first quarter of 2016 and the second quarter of 2015, primarily as
a result of increased revenues from consulting services. Although
we continue to expect that consulting will be important to
near-term revenue, we plan to expand software distribution and
service offerings through increased investments in product
development and sales and marketing activities," said Michael Hinshaw, McorpCX President and CEO.
Second Quarter 2016 Corporate Highlights include:
- Revenue increased 108% from the first quarter of 2016.
- Revenue increased 48% from the second quarter of
2015.
- Cash position remains strong at approximately US$2.54 million as of June
30, 2016.
"We believe the business landscape for technology-driven
customer insight products and services continues to be positive and
the Company plans to expand its position in this market by
continuing to develop and market its scalable Software-as-a-Service
(SaaS) solutions and software enabled services," concluded Mr.
Hinshaw.
Additionally, on August 10, 2016
McorpCX, Inc. held its annual meeting of shareholders in which
shareholders voted on key Company initiatives. Shareholders
approved the Company's amended and restated stock option plan as
well as an increase in the Company's authorized capital from
30,000,000 shares to 500,000,000 shares.
Shareholders also ratified the appointment of MaloneBailey LLP
as the Company's independent auditor for fiscal year 2016,
approved, on a non-binding advisory basis, the compensation
structure for the Company's named executive officers, and elected
all four nominees to the board of directors.
For a complete discussion of the Company's financial condition
and operating results, please see "Management's Discussion and
Analysis of Financial Condition and Results of Operations" and our
audited and unaudited financial statements and the accompanying
notes in our Form 10-Q for the three month ended June 30, 2016 and our Form 10-K for the year
ended December 31, 2015, as filed
with the Securities and Exchange Commission (the "SEC") on the
SEC's Electronic Data Gathering Analysis and Retrieval system
("EDGAR") and with the Canadian securities regulators on the System
for Electronic Document Analysis and Retrieval ("SEDAR"). For
full voting results from the annual meeting of shareholders please
refer to the Form 8-K dated August 16,
2016 as filed with the SEC on EDGAR and with the Canadian
securities regulators on SEDAR.
About McorpCX
McorpCX is a leading customer experience services company
delivering consulting and technology solutions to customer-centric
organizations. Touchpoint Mapping® - our signature product and
approach to quantifying customer experience - automatically maps
the complex, cross-channel maze of touchpoints that drive customer
experience. A pioneer in the fast-growing customer experience
services and technology sector, our proprietary approach and
cloud-based software deliver actionable data and on-demand
"Voice-of-the-Customer" insights that are intended to dramatically
improve customer experience, brand position, customer and employee
satisfaction, loyalty and engagement for leaders in financial
services, retail, technology, consumer products, and other
industries.
Visit the company online at http://mcorp.cx, and follow @McorpCX
on Twitter: https://twitter.com/mcorpcx. Information on our website
and on Twitter is not part of this press release.
Forward-Looking Statements
Certain statements contained in this press release may
constitute "forward-looking statements" within the meaning of
the United States securities laws
and applicable Canadian securities legislation. These statements
are, in effect, management's attempt to predict future events, and
thus are subject to various risks and uncertainties. Readers should
not place undue reliance on forward-looking statements, which
reflect management's views only as of the date hereof. All
statements, other than statements of historical fact, regarding our
financial position, business strategy and management's plans and
objectives for future operations are forward-looking
statements. When used in this press release, the words
"anticipate," "believe," "estimate," "expect," and "intend" and
words or phrases of similar meaning, as they relate to the Company
and its management are intended to help identify forward-looking
statements. Although we believe that management's
expectations as reflected in forward-looking statements are
reasonable, we cannot assure readers that those expectations will
prove to be correct. Forward-looking statements include
statements relating to the Company's business and operations. Such
statements involve assumptions relating to the Company's business,
the ability of the Company to execute on its business plan, the
competitive environment of the Company's products and services and
the future development and pricing of the Company's products and
services. Such forward-looking statements involve known and unknown
risks, uncertainties and other factors that may cause the Company's
actual results to be materially different from any future results
expressed or implied by these statements. Such factors include the
following: general economic and business conditions, changes in
demand for the Company's products and services, changes in the
competitive environment and the introduction of competing software
solutions by competitors, the Company's ability to complete any
future required financing and the Company's dependence upon and
availability of qualified personnel. Investors should refer to the
Company's Annual Report on Form 10-K and Quarterly Reports on Form
10-Q for a more comprehensive discussion of the risks that are
material to the Company and its business. In light of these and
other uncertainties, the forward-looking statements included in
this press release should not be regarded as a representation by
the Company that its plans and objectives will be achieved. These
forward-looking statements speak only as of the date of this press
release, and the Company undertakes no obligation to update or
revise the statements.
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in policies of the TSX Venture
Exchange) accepts responsibility for the adequacy or accuracy of
this release.
SOURCE McorpCX, Inc.
