Longfin (remains halted) reports Q1 results
- EPS ($0.10) vs. $0.00 lsat year; rev $54.3 million vs. $0.7 mln last year. Revenue related to the sale of physical commodities to the Company's customers was $53 million for the three months ended March 31, 2018. Technology revenue for the three months ended March 31, 2018 consists of $1.61 million and is comprised of fees paid by third parties for using our proprietary risk management and trading infrastructure technology.
- On Friday, April 6, 2018, NASDAQ placed a T12 trading halt on Longfin's Class A common stock. NASDAQ informed the Company that trading will remain halted until Longfin has satisfied NASDAQ's request for additional information. In addition, Longfin received a civil complaint and related asset freeze from the SEC and intends to fully cooperate and address the concerns the SEC has raised regarding the stock sales referenced in the SEC's complaint.