Armada Mercantile Ltd., (Symbol: CSE: ARM and OTC: AAMTF) continues to improve its commercial finance business to a record high in total invoices, advances and fee income. Armada would like to provide certain key statistics to shareholders regarding its commercial finance operations.
Monthly October Activity: October reached a record month in total outstanding purchased invoices in the portfolio, which totaled approximately US$17,463,050. During the month, invoice collections were robust at approximately US$8,567,448.11 and total discount fee income was approximately US$251,748.
Monthly September Activity: September reached a record month in total outstanding purchased invoices in the portfolio, which totaled approximately US$15,646,440. During the month, invoice collections were at approximately US$6,763,376. and total discount fee income was approximately US$227,087.
- Year to Date Total Invoices Funded: approximately US$46.1M. Same period 2020 was approximately US$32.8M.
- Year to Date Total Advances (cash) to Fund Invoices: approximately US$40.9M. Same period 2020 was approximately US$29.9M.
- Year to Date Total Fee Income from Fully Paid Invoices: approximately US$1.8M. Same period 2020 was approximately US$1.5M.
- Year to Date Total Fully Paid Invoice Count: approximately 3243. Same period 2020 was approximately 2056.
For more information pertaining to Armada Mercantile Ltd., visit: www.armadamercantile.com.