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Forex International Trading Q1 loss widens YOY

GBT Technologies Inc. said its first-quarter normalized net income was a loss of 1 cents per share, compared with a loss of 19 cents per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of $63,820, compared with a loss of $7,360 in the prior-year period.

The normalized profit margin dropped to negative 212.7% from negative 32.7% in the year-earlier period.

Total revenue rose 33.3% year over year to $30,000 from $22,500, and total operating expenses climbed year over year to $122,130 from $26,450.

Reported net income came to a loss of $102,110, or a loss of 2 cents per share, compared to a loss of $11,780, or a loss of 31 cents per share, in the prior-year period.