Tenet Fintech Group Inc. (PKKFF) Q1 2024 Earnings Call Transcript

Date:


Tenet Fintech Group Inc. (OTCPK:PKKFF) Q1 2024 Earnings Conference Call June 7, 2024 5:00 PM ET

Company Participants

Johnson Joseph – CEO, President & Director

Conference Call Participants

Cathy Hume – CEO, CHF Capital Markets

Cathy Hume

Hello to all Tenet Shareholders and a special thank you to those of you that sent in questions about the company’s First Quarter 2024 Financial Results. My name is Cathy Hume from CHF Capital and I’ll be asking Johnson Joseph, Tenet CEO, your questions related to the Q1 2024 results. Please keep in mind that we will only be addressing those questions that relate to the Q1, MD&A and financial statements. So unfortunately not all of your questions will be answered in this video.

Hi, Johnson. Are you ready to start our Q&A?

Johnson Joseph

Hi Cathy, yes I am. Let’s do this.

Question-and-Answer Session

Q – Cathy Hume

Okay. You mentioned after the Q4 2023 results that you’re expecting revenue from China to eventually rebound. But what we saw in Q1 2024 was the complete opposite. Do you still expect things to pick up in China? And if so, when?

Johnson Joseph

Yes, Cathy, I still believe that things will rebound eventually in China, but although not at the same level that we were accustomed to prior to the pandemic. What I want to shareholders to keep in mind is that we are introducing a completely different revenue stream in China and that’s going to take time. It’s going to take some sacrifices. We have to make certain adjustments and we have to make decisions with regards to allocating resources, right? So for all of those reasons, I expect things to be slow for the next few months in China, but eventually I do expect them to pick up and eventually for data revenues to join the transaction fee revenues and kind



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