FDCTech acquires 51% of AD Financial Services; acquired firm posts $5.9M FY2021 revenue

FDCTECH, INC.

FDCTech issued 45M restricted common shares to acquire 51% of AD Financial Services Pty Ltd.
Acquired entity AD Advisory Services posted FY2021 revenue of $5.9M (up 79% YoY) but net income of only $8K.
Auditor expresses substantial doubt about acquired entity's ability to continue as a going concern.
Acquired entity has $530M+ funds under advice, 28 advisors across 20 Australian offices.
Pro forma combined FDCTech revenue for year ended Dec 2020 would have been $4.9M vs. $215K stand-alone.

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