July 26, 2017 11:03 PM ET

IT Services

Company Overview of TIO Networks Corp.

Company Overview

TIO Networks Corp., an information technology company, engages in processing bill payment transactions through an Internet enabled platform. The company integrates its transaction processing system to the accounting back-office of its billers to post payments to the appropriate customer accounts. It provides the billers’ customers the ability to pay their accounts through multiple access points, including self-service kiosks, clerk-assisted locations, smartphone applications, and Web. The company primarily serves the telecom, wireless, cable, and utility bill issuers in North America. TIO Networks Corp. is headquartered in Vancouver, Canada. As of July 18, 2017, TIO Networks Corp. operates a...

250 Howe Street

Suite 1550

Vancouver, BC V6C 3R8

Canada

170 Employees

Phone:

604-298-4636

Fax:

604-298-4216

Key Executives for TIO Networks Corp.

Executive Chairman, Chief Executive Officer and President
Age: 42
Chief Financial Officer
Executive Vice President of ISO
Chief Revenue Officer
Senior Vice President of Product Development
Compensation as of Fiscal Year 2017.

TIO Networks Corp. Key Developments

TIO Networks To Be Deleted From Other OTC

TIO Networks Corp ordinary shares (Canada) will be deleted from Other OTC, effective July 19, 2017. The deletion was due to Acquisition/Merger/Amalgamation.

Tio Networks To Be Delisted From TSX-V

The TSX Venture Exchange has accepted for filing documentation in connection with an arrangement agreement dated February 14, 2017, entered into among Tio Networks Corp., and PayPal Inc. and Tahoe Acquisition ULC, as amended, pursuant to which PayPal agreed to acquire all of the issued and outstanding shares of Tio by way of a statutory plan of arrangement. Under the arrangement, Tio share holders received $3.35 per share for each Tio share held. The exchange has been advised that approval of the arrangement by securityholders of Tio was received at a special meeting of the securityholders held on April 10, 2017, and that approval of the arrangement was received from the Supreme Court of British Columbia on April 13, 2017. The arrangement became effective on July 18, 2017. In conjunction with the closing of the arrangement, the common shares of Tio will be delisted from the exchange. Accordingly, effective at the close of business, July 18, 2017, the common shares of Tio will be delisted.

Tio Networks Corp. Announces Earnings Results for the Third Quarter and Year to Date Ended April 30, 2017

TIO Networks Corp. announced earnings results for the third quarter and year to date ended April 30, 2017. For the quarter, the company reported revenue of CAD 23.763 million compared to CAD 17.967 million a year ago. Gross profit was CAD 11.392 million compared to CAD 8.919 million a year ago. Adjusted EBITDA was CAD 2.922 million compared to CAD 2.880 million a year ago. Net profit was CAD 0.078 million compared to CAD 1.605 million a year ago. Cash Flow before non-cash working capital items and one-time M&A costs were CAD 3.397 million compared to CAD 2.050 million a year ago. For the year to date, the company reported revenue of CAD 72.518 million compared to CAD 49.641 million a year ago. Gross profit was CAD 35.285 million compared to CAD 24.771 million a year ago. Adjusted EBITDA was CAD 10.677 million compared to CAD 7.543 million a year ago. Net profit was CAD 3.825 million compared to CAD 4.670 million a year ago. Cash Flow before non-cash working capital items and one-time M&A costs were CAD 10.460 million compared to CAD 5.865 million a year ago.

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Recent Private Companies Transactions

Type
Date
Target
Merger/Acquisition
February 14, 2017
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