back Back

Majic reports first consolidated financials with revenues of 6.28m in revenues & 173m in Assets

By Edlyn Cardoza

November 22, 2021

  • CGCX
  • Delaware
  • Digital Asset
Share

Majic Wheels, FinTech, CGCX, USAMajic Wheels, Corp., a Delaware corporation that is positioning itself as a player in the disruptive industries of FinTech and software development. Majic’s CGCX subsidiary has a Digital Asset Platform that brings value from the diversified business model and security to the clients through insurance and infrastructure, offering services such as Crypto Exchange, Digital Custody Services and Token Listing Platform under one-fold and developing various software solutions for the broad blockchain industry.

The Company is happy to report that it has posted its first consolidated financial statements since the acquisition of CGCX. Total revenue for the third quarter (2021-Q3) and the combined previous two quarters (2021-Q2 and 2021-Q1): USD 6,277,704 and USD 5,117,136, respectively.

“We are proud of the results of the CGCX team. The growth and results both met and exceeded our expectations and projections,” said David Chong, Chief Executive Officer of Majic Wheels, Corp.

Dr. Vin Menon, Co-Founder and Strategic Advisor of CGCX, added: “We continue to have momentum in our growth and our path remains clear. We believe this growth will continue into the coming quarter and next year. We are proud of the accomplishments of CGCX and the value we are creating for the shareholders”.

Majic’s CGCX subsidiary has a Digital Asset Platform that brings value from the diversified business model and security to the clients through insurance and infrastructure, offering services such as Crypto Exchange, Digital Custody Services and Token Listing Platform under one-fold and developing various software solutions for the broad blockchain industry. Majic Wheels Corp. is listed and traded on the OTC Markets under the trading symbol “MJWL”.

Previous Article

November 22, 2021

LenDenClub and Samir Kochhar collaborate to spread investor awareness

Read More
Next Article

November 22, 2021

India’s informal BNPL witnesses a surge in repayments this Diwali

Read More








IBSi Daily News Analysis

March 22, 2024

CGCX

Industry experts stress modernization, sustainability, and AI as cornerstones for future of corporate banking, Finastra study shows

Read More

IBSi FinTech Journal

  • Most trusted FinTech journal since 1991
  • Digital monthly issue
  • 60+ pages of research, analysis, interviews, opinions, and rankings
  • Global coverage
Subscribe Now

Other Related News

March 28, 2024

Tempo France suspends classical remittances, to focus on DeFi

Read More

March 28, 2024

Qoala raises $47m in Series C round from PayPal Ventures & MassMutual Ventures

Read More

March 27, 2024

InsurTech Qover partners with rewards credit card Yonder

Read More

Related Reports

Sales League Table Report 2023
Know More
Global Digital Banking Vendor & Landscape Report Q4 2023
Know More
Wealth Management & Private Banking Systems Report Q4 2023
Know More
IBSi Spectrum Report: Supply Chain Finance Platforms Q4 2023
Know More
Treasury & Capital Markets Systems Report Q4 2023
Know More

IBSi Sales League Table

The industry acknowledged barometer of global banking technology vendor performance!
Get your copy now!
close-link
Get your copy now! IBSi Sales League Table 2023