Armada Mercantile Ltd., (Symbol: CSE: ARM and USOTC: AAMTF) has reached an all-time high of its commercial finance operations.
Record Monthly Invoice Portfolio: The “high margin small ticket” invoice portfolio reached an all-time high of US$$7,852,957.77 up from US$7,071,104.99 in October. October was a good month for invoice collections and fee income, which is a good sign for the strength of the invoices purchased and health of account debtors. Armada began its commercial finance operations in February 2018 with a $500,000 invoice portfolio. For Oxygen Funding, Inc., our ownership affiliated company, the total invoice portfolio is approximately $14,000,000 including the high margin portfolio.
For more information pertaining to Armada Mercantile Ltd., visit: www.armadamercantile.com.