RESAAS Services Inc (CNSX:RSS), the Vancouver-based software firm that has developed a fast-growing social network platform for the real estate industry, said its professional user base had grown 10% in the past year.
In an update covering the third quarter RESAAS said it had amassed 413,033 professional users by September 30, up from 375,343 12 months earlier. At the end of the second quarter the figure was 398,235.
For the nine months ended September 30 the company generated revenues of $202,201, almost double the amount it made a year ago.
As is common with companies at this formative stage of their commercial development, RESAAS was loss-making. The net loss for the nine months was $6.2mln.
More importantly the firm was sitting on cash of $7.3mln.
Story by ProactiveInvestors