Posted by & filed under Press Releases.

Rotterdam, NL – April 15, 2014:

Symbid Corp. Announces Appointment of Philip Cooke – Former Manager of KPMG LLP in New York – as Chief Financial Officer

 

Symbid_logo_square_blue_bg_500px   IMG_6304

 

As a former Manager of KPMG LLP in New York, Mr. Cooke is a timely addition to Symbid’s leadership. With his extensive dealings in audit and advisory business services, Philip promises to become an integral cog in our organisation and management team upon arrival.

From January 2011 until April 2014 Mr. Cooke was employed as a Senior Manager for KPMG Accountants N.V. in Amstelveen, the Netherlands, within the Corporate Clients practice where he primarily served large publicly traded multinational corporations and had significant involvement with the audits of U.S. companies headquartered in the Netherlands. From June 2006 through June 2010 Mr. Cooke worked for KPMG, LLP in New York, NY, initially as a Senior Associate providing audit and advisory business services (June 2006 to May 2009) and subsequently as a Manager providing audit and advisory business services (June 2009 through June 2010). From August 2004 through May 2006, Mr. Cooke worked for KPMG, LLP in Portland, Oregon, providing audit and advisory business services. He received a Bachelor of Business Administration from the University of Portland in 2004.

With almost ten years of experience in various advisory capacities, most recently as Senior Manager for KPMG Accountants N.V. in Amstelveen, the Netherlands, we expect Philip’s financial expertise and business acumen to greatly assist in the execution of our strategy in 2014 and beyond. For a more complete account of Philip’s appointment as CFO, please refer to our SEC filing.

Posted by & filed under Financial results.

Q1 2014 Income Sheet
Three month period ending March 31
2014 2013
Revenues
Crowdfunding 78,055 17,858
Other 8,050 1,664
Total revenues 86,105 19,552
Operating expenses
Selling, general and administrative 274,015 75,196
Professional fees 204,713 13,713
Research and development costs 45,975 N/A
Depreciation and amortization 334 320
Total operating expenses 525,037 89,229
Operating loss -438,932 -69,707
Other income (expense)
Fair value adjustment derivative liability – warrants 15,281 N/A
Interest expense -5,810 -4,940
Government subsidy  8,221 7,869
Equity loss in Gambitious B.V. and Kredietpaspoort N/A -22,489
Other income and expense -4,050 N/A
Total other income (expense) -1,631 N/A
Net loss -453,433 -89,267
Net loss attributable to non-controlling interests -11,018 -15,815
Net loss attributable to Symbid Corp. stockholders  $(442,415)  $(73,452)
Basic and diluted net loss per common stock  $(0.02)  $(0.0)
Weighted average number of shares outstanding
Basic and diluted 26,498,864 20,909,933

 

Q1 2014 Balance Sheet
March 31 December 31
2014 2013
Assets
Current assets
Cash $539,796  $891,592
Accounts receivable, less allowance for doubtful accounts of $8,436 and $10,718 respectively 21,955 2,897
Prepaid expenses and other current assets 66,355 59,486
Total current assets 628,106 953,975
Property and equipment – at cost, less accumulated 
Depreciation and amortization 3,917 4,259
Investment in associated companies 1,430 1,432
Intangible assets, net N/A  N/A
Total assets  $633,453  $959,666
Liabilities and Stockholders’ Equity
Current liabilities
Accounts payable  $171,292  $138,495
Accrued expenses and other current liabilities 165,332 256,928
Deferred government grants 2,752 11,017
Current maturities of notes payable 41,603 41,657
Total current liabilities 380,979 448,097
Notes payable, less current maturities 237,662 237,973
Derivative liability – warrants 318,943 303,662
Total liabilities 937,584 989,732

Posted by & filed under Press Releases.

Rotterdam, NL – March 01, 2014:

Dutch Prime Minister Mark Rutte Officially Opens New Symbid HQ in Rotterdam

Click here for video.

 

Korstiaan met premier Rutten

 

Equity crowdfunding platform Symbid hosted Prime Minister Mark Rutte for the official opening of its new, expanded headquarters located in the Rotterdam Science Tower in a sign of the Company’s importance to the Dutch crowdfunding industry.

“We’re delighted to be able to welcome Mr. Rutte to our new offices as we look to continue our expansion as a company,” said Korstiaan Zandvliet, CEO and founder of Symbid Corp. “The Prime Minister’s visit is a real testament to the growing significance of crowdfunding as a legitimate alternative to banks, venture capital, and angel investors for entrepreneurs seeking funds. Hopefully our new offices will enable Symbid to continue its role as an ambassador and market leader for crowdfunding in the Netherlands, while also facilitating our growth into other markets.” Video footage of the opening can be found here.

One of the first equity crowdfunding platforms, Symbid recently became the first publicly listed crowdfunding platform worldwide after it began trading on OTCQB [SBID]. Symbid’s new offices are located in the ECE Startup Campus at Rotterdam Science Tower. With the addition of Symbid’s HQ, the Erasmus Centre for Entrepreneurship is developing into a true entrepreneurial hub for ambitious entrepreneurs and high-growth start-ups. Described as “comparable to a top-sports centre, only for entrepreneurs,” the ECE offers a vibrant and stimulating atmosphere in which young talent and business experience are constantly interacting.

Posted by & filed under Press Releases.

New York, NY and Rotterdam, NL – February 25, 2014:

Symbid Corp. to Use Listing to Accelerate Roll-out of Crowdfunding Platform in U.S. and Europe

 

Symbid corp logo white blue bg

 

Symbid Corp. (“Symbid”) (OTCQB:SBID), an online funding platform that helps private investors, SME-entrepreneurs and start-ups come together in a secure ecosystem, announced it has become publicly listed on the OTC Markets exchange. The company will trade on a segment of the OTC Markets, OTCQB, under ticker symbol “SBID.” Investors can find current financial disclosures and quotes for the company here.

“As a leader in equity crowdfunding, Symbid believes this to be the perfect time to enter the US market with the JOBS act in law,” said Korstiaan Zandvliet, Chief Executive Officer of Symbid Corporation. “The essence of the JOBS Act, the essence of crowdfunding, is the democratization of the world’s financial system. The JOBS Act was created to allow access to capital by those who have been denied it in the past, contributing to an immense entrepreneurial and financial freedom. We look forward to expanding our platform through Europe and introducing it to the US crowdfunding marketplace.”

Based in the Netherlands, entrepreneurs use Symbid to obtain business growth funding from the crowd in exchange for an equity stake in their company. Investors can participate with a minimum investment of as little as $25, and become shareholders in start-up companies or small and medium enterprise (“SME”) companies in need of capital. The crowdfunding platform enables investors to easily invest in a selection of companies as well as communicate directly with the company and other investors. The companies and business plans have been tested, and the entrepreneurs follow a coached trajectory that prepares them for their financial funding round.

Unlike most of the crowdfunding platforms, Symbid is an established, revenue producing company that is currently active and growing rapidly in Europe. The Symbid platform, which was officially launched in the beginning of 2011, took several years to unroll before resulting in a crowdfunding ecosystem delivering a diversified revenue stream through sales of valuation software, on-going education programs for accountants, licensed white label solutions, and crowdfunding fees. Symbid and its affiliated companies provide a complete crowdfunding ecosystem that educates entrepreneurs, provides company valuations, raises capital, and allows a peer-to-peer secondary market.

Additionally, Symbid is co-founder and council member of the CAPS initiative; an accreditation standard for crowdfunding platforms. In Europe, Symbid is a founding member of the European Crowdfunding Network and the founding entrepreneurs are members of the Advisory Board of the European Commission that aims to structurally improve small and medium sized business funding.

Posted by & filed under Uncategorized.

Amsterdam, NL and Rotterdam, NL – February 04, 2014:

Symbid and Vera Community Sign Exclusive Partnership to Unlock Potential of Female Entrepreneurs in the Netherlands

 

Symbid_logo_square_blue_bg_500px   Vera

 

With over 350,000 female entrepreneurs in the Netherlands – a figure expected to rise substantially in the coming months – Vera Community will become the first organization dedicated to funding Dutch female entrepreneurs when it goes online on March 8th during the International Women’s Week. Symbid, as the largest equity crowdfunding platform in the Netherlands, will provide the requisite financial and legal framework for women to seek funding for their business via Vera Community. Female entrepreneurs registered with Vera Community will be able to make use of a dedicated group on the Symbid platform through which they can pitch their business idea to a select target audience of potential investors. Meanwhile, members of Vera Community will also have access to Symbid-organized networking & investor events.

In addition to its support of female entrepreneurs, Vera Community is also devoted to funding businesses with a positive social impact. “VERA Community’s goal is to encourage all aspects of female entrepreneurship”, says Loonen, founder of VERA. “Our cooperation with Symbid actually allows us to put this goal into practice. Besides support and advice during the different phases of the company, we can now introduce the entrepreneurs with interested investors. There are a lot of women who want to create a positive impact with their company and together with Symbid we will help them find the right funding.” 

Korstiaan Zandvliet, CEO of Symbid, is similarly delighted with the partnership: “Female entrepreneurship remains below its true economic potential, despite recent positive developments. Thanks to VERA Community it’s now possible for Symbid to help stimulate entrepreneurship in this area. This partnership allows us to introduce investors to entrepreneurs who are striving to create positive social value in addition to a possible return on investment. What’s more, the investor knows that all the business ideas are being coached by VERA; a clear hallmark of quality.”