EXP WORLD HOLDINGS, INC. (OTCMKTS:EXPI) Files An 8-K Results of Operations and Financial ConditionItem 2.02
On April 3, 2018, eXp World Holdings, Inc. (the “Company”), filed a Notification of Late Filing on Form 12b-25 relating to a delay in filing its Annual Report on Form 10-K for the fiscal year ended December 31, 2017. The Company disclosed the following financial information in the Form 12b-25:
| · | Revenue recognized was $156.1 million. |
| · | Commissions and Other Agent Related Costs was $139.6 million. |
| · | Cash flow from operations increased 302% to $4.1 million, compared to $1.0 million in 2016. |
| · | Our cash balance increased 177% to $4.7M, compared to $1.7M in 2016. |
In addition, the Company today issued a press release announcing select financial results for the fiscal year ended December 31, 2017. The press release is attached as Exhibit 99.1 to the Current Report on Form 8-K and is incorporated by reference herein.
The information in this Current Report on Form 8-K and the Exhibit attached hereto shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as expressly set forth by specific reference in such filing.
| Item 9.01 | Financial Statements and Exhibits |
(d) Exhibits.
| Exhibit Number | Description |
| 99.1 | Press Release dated April 4, 2018. |
EXP World Holdings, Inc. ExhibitEX-99.1 2 exp_ex9901.htm PRESS RELEASE Exhibit 99.1 eXp World Holdings Releases Select 2017 Financial Results,…To view the full exhibit click here
About EXP WORLD HOLDINGS, INC. (OTCMKTS:EXPI)
eXp World Holdings, Inc., formerly eXp Realty International Corporation, is a cloud-based real estate company. The Company’s segments include Real Estate Brokerage Services, Mortgage Origination Services, and Corporate and Other. It operates over the Internet through its Website, http://exprealty.com and a cloud-based platform to provide its residential real estate brokerage services. Through its Website, buyers can search real-time property listings, and sellers list their properties and gain exposure across the various markets it operates within. It also provides buyers and sellers access to a network of professional, consumer-centric agents and brokers. It provides agents, teams of agents and brokerage-owners with the systems, support, professional development and infrastructure. This includes delivering around the clock access to collaborative tools and training for real estate brokers and agents. The Company also operates a loan brokerage origination company.
