Advantego Corporation Announces First Quarter Financial Results

DENVER, CO., May 21, 2018 (GLOBE NEWSWIRE) -- Advantego Corporation ADGO today announced financial results for the first quarter ending March 30, 2018 with revenue of $43,977, a net loss of $243,836, equal to a loss of two cents per share, based on weighted average common shares outstanding of 15,524,531 (basic and diluted).  There were no comparable results for the similar three-month period in 2017 since operations only commenced in mid-2017.

"We more than doubled sales from the fourth quarter of 2017 and recorded a gross profit of $13,738 as our Business Software as a Service (BPaaS) product lines began to make an impact in the market place for digital communications," according to CEO Robert W. (Rob) Ferguson.

"During the first quarter, we made great strides in establishing solid ground to embark on our new corporate identity and business plan," Ferguson pointed out.  "In the ensuing months, we expect to capitalize on a number of strategic alliances that we have recently announced to open more markets for our products and services and to continue on an upward trajectory," he said.

Reviewed, unaudited financial statements for the first quarter of 2018 are available on the Company's website: www.advantego.com.

About Advantego Corporation

Advantego Corporation ADGO designs, develops and implements digital communications and intelligent software solutions as a specialized Business Process as a Service (BPaaS). The Company's products and services are provided through its wholly-owned operating subsidiary, Advantego Technologies Inc., which leverages its proprietary "Intelligent Solution Platform."  This platform combines existing data and systems and integrates "best in class", third-party technologies to provide a comprehensive, managed solution that significantly enhances internal operations and marketing efficiency.  These elite, custom business solutions are available to large enterprises, affiliate networks and franchise operators as all-inclusive, managed bundled services.  The Company also offers a variety of stand-alone products specific to targeted industries.  Website: www.advantego.com.

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Forward-Looking Statements
This news release may contain forward-looking statements within the meaning of the Securities Act.  As a general matter, forward-looking statements may reflect our current expectations and projections relating to our financial condition, results of operations, plans, objectives, future performance and business.

These statements may be identified using forward-looking terminology such as "may", "will", "expects", "plans", "estimates", "anticipates", "projects", "intends", "believes", "outlook and similar expressions.  The forward-looking statements contained in this news release are based upon our historical performance, current plans, estimates, expectations and other factors we believe are appropriate under the circumstances.  The inclusion of this forward-looking information is inherently subject to risks and uncertainties, many of which cannot be predicted with accuracy and some of which might not even be anticipated.  Future events and actual results, financial and otherwise, may differ materially from the results discussed in the forward-looking statements.  Statements regarding the following subjects, among others, may be forward-looking: our business and investment strategy; our projected operating results; estimates relating to our ability to make distributions to our stockholders in the future and economic trends.

CONTACT:
GREG McANDREWS & ASSOCIATES
Gregory A. McAndrews
(310) 804-7037
mcandrews_pr@hotmail.com