$1.04 +0.06 (+6.64%) Closing price 04:00 PM Eastern
Extended Trading
$1.00 -0.04 (-3.37%) As of 07:25 PM Eastern
Extended trading is trading that happens on electronic markets outside of regular trading hours. This is a fair market value extended hours price provided by Massive. Learn more. Our business was originally incorporated in Malaysia in 2018, and is principally involved in the provision of customizable software solutions encompassing several types of software such as a smart ordering system, Speed +, which is a smart solutions application software for the food and beverage industry. The Speed+ software is installed onto our existing Point of Sale (POS) machines, which are sourced from third-party suppliers. These POS machines, equipped with Speed+, are then leased to clients, providing a seamless and integrated solution for efficient order management and transaction processing. We also offer customizable software and application development for table ordering, QR ordering and self-service kiosk ordering. For the years ended December 31, 2022 and December 31, 2023, the provision of the Speed+ smart ordering system, QR Ordering system subscription (both under subscription services) contributed 10.22% and 12.31% of our revenue, respectively, while the provision of software development services contributed to 19.10% and 9.79% of our revenue, respectively. For the six months period ended June 30, 2023 and June 30, 2024, the provision of the Speed+ smart ordering system, QR Ordering system subscription (both under subscription services) contributed 19.89% and 33.03% of our revenue, respectively, while the provision of software development services contributed to 13.75% and 16.43% of our revenue, respectively. Our products and services such as our smart ordering system, Speed +, as well as any software and application development for table ordering, QR ordering and self-service kiosk ordering, are marketed to the bulk of our customers in Malaysia, who belong to the food and beverage (“F&B”) industry. However, the customizable nature of our software and application development services which further extends to customer relationship management and invoicing software is offered to businesses across different industries, with a focus on F&B but also extending to other industries such as Geotechnology, beauty products and property consulting. Apart from our product, Speed+, we also sell food ordering kiosk machines designed to improve the dining experience for both customers and businesses. These kiosk solutions combine innovative technology with user-friendly interfaces, allowing patrons to effortlessly browse menus, customize orders, and make secure payments. They are designed to improve efficiency, reduce labor costs, and gather valuable data on customer preferences and ordering patterns. For the years ended December 31, 2022 and December 31, 2023, the sale of food ordering kiosk machines contributed 16.12% and 25.29% of our revenue, respectively. For the six months period ended June 30, 2024, the sale of food ordering kiosk machines contributed 14.92% of our revenue. Beyond the F&B industry, we serve a broader clientele as a trusted partner. Our software development services showcase our commitment to understanding and addressing the unique needs of our clients. Our experienced software development team creates tailored solutions, often starting with a comprehensive software development blueprint in the form of a white paper. Whether it involves developing applications or addressing complex software development projects, our in-house programmers bring over a combined 14 years of experience and expertise. For specialized or complex projects, we collaborate with trusted outsourcing partners to ensure our clients have access to the right skills and resources. In a digital age where social media plays a crucial role in brand presence, we offer social media management services. Responsible for overseeing the social media accounts of Key Opinion Leaders (KOLs) and influencers, we attempt to ensure that these digital influencers maintain a current and engaging online presence. By leveraging data analysis, including demographic data, comments, post likes, and other metrics, we fine-tune content strategies in order to obtain the maximum impact. For the years ended December 31, 2022 and December 31, 2023, our social media management services contributed 11.98% and 9.50% of our revenue, respectively. For the six months period ended June 30, 2023 and June 30, 2024, our social media management services contributed 21.25% and 9.54% of our revenue, respectively. We further provide additional products and services through the sale of power-bank charging stations through our majority owned subsidiary, CL Technologies. Recognizing the trend in demand for portable power-bank charging for mobile devices, we have developed additional expertise in providing power-bank charging stations across 300 locations in Malaysia, working with shopping malls, parks and other public areas. For the years ended December 31, 2022 and December 31, 2023, the sale of power-bank charging stations through its majority owned subsidiary, CL Technologies, contributed 12.45% and 23.44% of our revenue, respectively. For the six months period ended June 30, 2024, the sale of power-bank charging stations through its majority owned subsidiary, CL Technologies, contributed 13.34% of our revenue. Our expertise extends beyond software development. We also offer a comprehensive data management service. By efficiently handling clients’ incoming raw data, including tasks like sorting, filtering, and reorganizing data within servers, we help clients easily access the information they need, streamlining their operations and decision-making. For the years ended December 31, 2022 and December 31, 2023, our data management services contributed 20.98% and 15.62% of our revenue, respectively. For the six months period ended June 30, 2023 and June 30, 2024, our data management services contributed 28.47% and 12.74% of our revenue, respectively. Our principal executive office is in Kuala Lumpur.
