HONG KONG, July 22, 2013 /PRNewswire/ -- Moxian Group Holdings, Inc. ("Moxian" or the "Company") (OTCQB: MOXG), a social commerce platform company, today announced operating results for the third fiscal quarter ended June 30, 2013 and provided the following progress update.
Third Fiscal Quarter 2013 Financial Results
The Company reported $97,385 in revenue for the three months ended June 30, 2013, compared to $0 revenue in the prior year quarter. Cash and cash equivalents at the end of the 2013 third quarter were approximately $160,122, accounts receivable were $94,860 and prepayments, deposits and other receivables were $69,014 compared with $0 respectively in the prior year quarter.
Key Metrics Update
With Moxian's now fully operational offices in Shenzhen and Malaysia it is now generating revenue from two major customers.
"We are very pleased with our progress to date and the traction we are experiencing as we implement our growth strategy," commented Liew Kwong Yeow, Chief Executive Officer of Moxian. "Clearly, our initiatives are showing solid momentum as subscribers and end user recognition and acceptance begins to take hold. We remain excited about our prospects and look forward to the further expansion of our business. We are anticipating enormous growth over the next couple of months as we further implement our expansion strategy into other cities in Malaysia."
About Moxian Group Holdings, Inc.:
Moxian's platform development was started three years ago and is focused on the Asian markets. Moxian is more than just a social network platform for businesses. It integrates the world's hottest social media features, combining entertainments and businesses in one place, with many online and mobile applications available for everyone. At the same time it provides a brand new Multi-Channel Social Commerce Platform for businesses including Moxian's proprietary Social Customer Relationship Management (SCRM) system that entices knowledge data between business and its customers that will be provided to businesses as an added service. The platform allows consumers and businesses to connect and interact with one another to achieve the concept of "online lifestyle, offline fun"! More info at www.moxiangroup.com
Safe Harbor: This release contains statements, which may constitute "forward-looking statements" within the meaning of the Securities Act of 1933, the Securities Exchange Act of 1934, and the Private Securities Litigation Reform Act of 1995. Prospective investors are cautioned that forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and actual results may differ materially from those contemplated by such forward-looking statements. Important factors known to management that could cause actual results to differ materially from those in forward-looking statements include fluctuation of operating results, ability to compete successfully, and ability to complete before-mentioned transactions. The Company undertakes no obligation to update or revise forward-looking statements to reflect changed assumptions, the occurrence of unanticipated events, or changes to future operating results.
SOURCE Moxian Group Holdings, Inc.