IP E-Games divests from Netopia operator

 IP E-Game Ventures, Inc. has stripped from the administrator of Netopia web bistros because of the lower interest for its business, as buyers shift to cell phones and places offering free Wi-Fi.
 


In an exposure to the stock trade on Wednesday, IP E-Games said it is appointing P62.93 million worth of offers in Netopia administrator Digital Paradise, Inc. (DPI) to Y-Fi Business Solutions, Inc. This is identical to 62.93 million offers in DPI with a standard worth of P1 per offer, or 48.38% of DPI's all out remarkable offers.

IP egames Philippines said DPI's Netopia business has been in a "condition of consistent decrease" throughout the long term, with its fiscal report showing misfortunes since 2016 close by the conclusion of more web bistros.

DPI booked a thorough deficiency of P4.31 million by end 2016 when it had 40 working stores. Its misfortunes further expanded to P43.22 million of every 2017.

As of end-November, DPI's misfortunes arrived at P31.43 million, while its working stores dwindled to 14.

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