Netcapital Announces First Half EPS Growth of 213%

Investor conference call to be held December 17^th at 12:00 pm ET

BOSTON--(BUSINESS WIRE)--Netcapital Inc. (OTCQX: NCPL), a digital private markets ecosystem, today announced its financial results for the first six months of fiscal 2022 ended October 31, 2021.

Net income for the first six months of fiscal 2022 increased 1,843% to $1,183,254, while the company generated revenues of more than $1.8 million. On a per share basis, fully diluted EPS was $0.47 compared to $0.15 in the prior year period, an increase of 213%.

As of October 31, 2021, equity securities at fair value totaled $9,623,753 compared to $3,721,514 one year ago, an increase of 159%.

“Following our strong financial results for the second quarter, the Netcapital funding portal continued its momentum with over $4 million raised through the portal in the month of November alone – a new monthly record for netcapital.com – resulting in a healthy 9% market share,” said Jason Frishman, CEO of Netcapital Funding Portal Inc.

“More than $452 million has been raised under RegCF through the first eleven months of 2021, with funding commitments up 155% year-over-year. These trends bode well for Netcapital as we continue our growth strategy through the second half of fiscal 2022 and beyond,” added Dr. Cecilia Lenk, CEO of Netcapital Inc.

Investor Conference Call on December 17, 2021

Netcapital Inc. will discuss second quarter and fiscal year-to-date financial and business results via an investor conference call on Friday, December 17, 2021 at 12:00 p.m. ET. To join the call, please use the following access numbers:

844-985-2012 or 973-528-0138
Conference entry code: 214025

Those unable to listen to the call live may access a replay via the Investors section of Netcapital Inc.’s website: www.netcapitalinc.com.

For additional disclosure regarding operating results, please refer to the Company’s Quarterly Report on Form 10-Q for the period ended October 31, 2021, which has been filed with the Securities and Exchange Commission.

About Netcapital Inc.

Netcapital Inc. is a fintech company with a scalable technology platform that allows private companies to raise capital online and provides private equity investment opportunities to investors. The company's consulting group, Netcapital Advisors, provides marketing and strategic advice and takes equity positions in select companies with disruptive technologies. The Netcapital funding portal is registered with the U.S. Securities & Exchange Commission (SEC) and is a member of the Financial Industry Regulatory Authority (FINRA), a registered national securities association.

The information contained herein includes forward-looking statements. These statements relate to future events or to our future financial performance, and involve known and unknown risks, uncertainties and other factors that may cause our actual results to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. You should not place undue reliance on forward-looking statements since they involve known and unknown risks, uncertainties and other factors which are, in some cases, beyond our control and which could, and likely will, materially affect actual results, levels of activity, performance or achievements. Any forward-looking statement reflects our current views with respect to future events and is subject to these and other risks, uncertainties and assumptions relating to our operations, results of operations, growth strategy and liquidity. We assume no obligation to publicly update or revise these forward-looking statements for any reason, or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future.